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 report issued on Saturday.

PUK has been the subject of a number of other research reports. Morgan Stanley reiterated an "overweight" rating on shares of Prudential in a report on Tuesday, May 13th. Citigroup reiterated a "buy" rating on shares of Prudential in a report on Tuesday, April 1st. Barclays reaffirmed an "overweight" rating on shares of Prudential in a research note on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Prudential from a "hold" rating to a "buy" rating in a research report on Friday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

Prudential Stock Performance

Prudential stock traded down $0.05 during trading hours on Friday, hitting $23.81. The company had a trading volume of 2,416,564 shares, compared to its average volume of 1,037,697. The firm has a market cap of $31.00 billion, a P/E ratio of 10.26, a P/E/G ratio of 0.41 and a beta of 1.02. The company has a 50-day moving average price of $21.68 and a two-hundred day moving average price of $18.94. Prudential has a 1 year low of $14.39 and a 1 year high of $24.00.

Prudential Increases Dividend

The company 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 boost from Prudential's previous dividend of $0.24. The ex-dividend date of this dividend was Friday, March 28th. Prudential's dividend payout ratio is presently 28.02%.

Hedge Funds Weigh In On Prudential

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in Prudential by 33.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,442 shares of the financial services provider's stock worth $1,266,000 after buying an additional 19,889 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Prudential by 62.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 92,918 shares of the financial services provider's stock valued at $1,481,000 after acquiring an additional 35,811 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of Prudential in the fourth quarter worth $16,207,000. First Trust Advisors LP purchased a new position in shares of Prudential during the fourth quarter worth $228,000. Finally, Jane Street Group LLC lifted its position in Prudential by 575.1% during the fourth quarter. Jane Street Group LLC now owns 72,470 shares of the financial services provider's stock valued at $1,155,000 after purchasing an additional 61,735 shares during the period. 1.90% of the stock is owned by hedge funds and other institutional investors.

Prudential Company Profile

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.