Prudential plc (NYSE:PUK) Given Consensus Rating of "Buy" by Brokerages

Prudential plc (NYSE:PUK - Get Free Report) has earned a consensus recommendation of "Buy" from the five brokerages that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation.

A number of brokerages recently issued reports on PUK. Deutsche Bank Aktiengesellschaft upgraded shares of Prudential from a "hold" rating to a "buy" rating in a research note on Friday. Wall Street Zen raised shares of Prudential from a "hold" rating to a "buy" rating in a research report on Saturday. Citigroup restated a "buy" rating on shares of Prudential in a research note on Tuesday, April 1st. Morgan Stanley reaffirmed an "overweight" rating on shares of Prudential in a research report on Tuesday, May 13th. Finally, Barclays reissued an "overweight" rating on shares of Prudential in a report on Thursday, May 22nd.

Institutional Trading of Prudential

Several institutional investors and hedge funds have recently bought and sold shares of PUK. Choreo LLC lifted its holdings in shares of Prudential by 5.6% during the 1st quarter. Choreo LLC now owns 12,049 shares of the financial services provider's stock valued at $259,000 after buying an additional 644 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Prudential by 38.1% during the first quarter. Smartleaf Asset Management LLC now owns 2,563 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 707 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Prudential by 7.9% in the first quarter. Pacer Advisors Inc. now owns 11,965 shares of the financial services provider's stock valued at $257,000 after acquiring an additional 877 shares during the last quarter. National Bank of Canada FI lifted its stake in Prudential by 29.0% in the first quarter. National Bank of Canada FI now owns 3,925 shares of the financial services provider's stock valued at $84,000 after acquiring an additional 883 shares during the last quarter. Finally, Bruce G. Allen Investments LLC grew its position in Prudential by 70.4% in the first quarter. Bruce G. Allen Investments LLC now owns 2,759 shares of the financial services provider's stock worth $59,000 after acquiring an additional 1,140 shares in the last quarter. Institutional investors and hedge funds own 1.90% of the company's stock.

Prudential Stock Up 1.2%

PUK opened at $23.74 on Friday. The firm's 50 day moving average is $21.58 and its 200-day moving average is $18.83. Prudential has a 52-week low of $14.39 and a 52-week high of $23.77. The firm has a market capitalization of $30.91 billion, a P/E ratio of 10.23, a P/E/G ratio of 0.41 and a beta of 1.02.

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 issued 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 payout ratio is presently 28.02%.

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.

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