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

Prudential plc (NYSE:PUK - Get Free Report) has been given a consensus recommendation of "Buy" by the five ratings firms that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating.

Several research firms have recently commented on PUK. Barclays reiterated an "overweight" rating on shares of Prudential in a report on Thursday, May 22nd. Morgan Stanley restated an "overweight" rating on shares of Prudential in a research report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft raised Prudential from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Citigroup reissued a "buy" rating on shares of Prudential in a research note on Tuesday, April 1st. Finally, Wall Street Zen upgraded shares of Prudential from a "hold" rating to a "buy" rating in a report on Saturday.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PUK. Causeway Capital Management LLC lifted its holdings in Prudential by 10.1% in the 1st quarter. Causeway Capital Management LLC now owns 2,353,670 shares of the financial services provider's stock worth $50,604,000 after buying an additional 216,828 shares during the period. Northern Trust Corp raised its stake in Prudential by 8.3% in the first quarter. Northern Trust Corp now owns 1,878,126 shares of the financial services provider's stock worth $40,380,000 after buying an additional 144,354 shares in the last quarter. Bank of Montreal Can lifted its holdings in Prudential by 165.3% in the fourth quarter. Bank of Montreal Can now owns 1,554,255 shares of the financial services provider's stock worth $24,775,000 after buying an additional 968,317 shares during the period. JPMorgan Chase & Co. lifted its holdings in Prudential by 321.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider's stock worth $19,713,000 after buying an additional 943,487 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Prudential by 1,133.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,051,231 shares of the financial services provider's stock valued at $16,757,000 after acquiring an additional 965,985 shares in the last quarter. Hedge funds and other institutional investors own 1.90% of the company's stock.

Prudential Stock Performance

NYSE:PUK traded up $0.51 during trading hours on Friday, reaching $24.30. The company's stock had a trading volume of 1,106,989 shares, compared to its average volume of 1,038,377. The firm has a market capitalization of $31.63 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 0.41 and a beta of 1.02. The firm has a 50-day simple moving average of $21.68 and a 200-day simple moving average of $18.94. Prudential has a 1 year low of $14.39 and a 1 year high of $24.38.

Prudential Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, May 14th. Stockholders of record on Friday, March 28th were issued 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 dividend payout ratio is currently 28.02%.

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.