Prudential (NYSE:PUK) Upgraded by Wall Street Zen to "Buy" Rating

Wall Street Zen upgraded shares of Prudential (NYSE:PUK - Free Report) from a hold rating to a buy rating in a research note released on Friday morning.

PUK has been the subject of a number of other reports. Barclays reiterated an "overweight" rating on shares of Prudential in a research note on Thursday, May 22nd. Morgan Stanley restated an "overweight" rating on shares of Prudential in a research report on Tuesday, May 13th. Finally, Citigroup restated a "buy" rating on shares of Prudential in a research report on Tuesday, April 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Prudential Stock Performance

Shares of PUK stock traded down $0.03 during trading hours on Friday, reaching $22.85. The company had a trading volume of 695,560 shares, compared to its average volume of 1,033,122. The business has a fifty day moving average price of $21.41 and a 200-day moving average price of $18.56. Prudential has a one year low of $14.39 and a one year high of $23.35. The firm has a market cap of $29.75 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 0.41 and a beta of 0.98.

Prudential Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, May 14th. Investors of record on Friday, March 28th were given a dividend of $0.3258 per share. This is a positive change from Prudential's previous dividend of $0.24. The ex-dividend date was Friday, March 28th. Prudential's payout ratio is 28.02%.

Hedge Funds Weigh In On Prudential

Several large investors have recently added to or reduced their stakes in PUK. First Affirmative Financial Network lifted its holdings in Prudential by 54.5% during the fourth quarter. First Affirmative Financial Network now owns 16,724 shares of the financial services provider's stock valued at $267,000 after purchasing an additional 5,897 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in Prudential by 6.4% during the fourth quarter. DAVENPORT & Co LLC now owns 90,796 shares of the financial services provider's stock valued at $1,447,000 after purchasing an additional 5,437 shares in the last quarter. Advisors Preferred LLC purchased a new position in Prudential during the fourth quarter valued at approximately $31,000. Entropy Technologies LP purchased a new position in Prudential during the fourth quarter valued at approximately $188,000. Finally, ABC Arbitrage SA purchased a new position in Prudential during the fourth quarter valued at approximately $16,207,000. Hedge funds and other institutional investors own 1.90% of the company's stock.

About Prudential

Prudential plc, through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa. The company was founded in 1848 and is headquartered in Central, Hong Kong.