Prudential Public Limited Company (NYSE:PUK) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Prudential Public Limited Company (NYSE:PUK) has received an average brokerage rating of "Buy" from five research analysts covering the company.
• Significant institutional investment has been noted, with firms like Smartleaf Asset Management and MAI Capital Management increasing their stakes in Prudential Public by 38.1% and 90.6%, respectively.
• The company announced a dividend of $0.1542 per share, to be paid on October 16th, representing a yield of 117.0% and a payout ratio of 12.50%.

Prudential Public Limited Company (NYSE:PUK - Get Free Report) has been assigned an average rating of "Buy" from the five brokerages that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating.

A number of research analysts have issued reports on PUK shares. Barclays reiterated an "overweight" rating on shares of Prudential Public in a research note on Monday, September 8th. UBS Group reiterated a "buy" rating on shares of Prudential Public in a research note on Thursday, August 28th. Deutsche Bank Aktiengesellschaft upgraded Prudential Public from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Wall Street Zen cut Prudential Public from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC raised its stake in shares of Prudential Public by 38.1% in the first quarter. Smartleaf Asset Management LLC now owns 2,563 shares of the financial services provider's stock worth $55,000 after purchasing an additional 707 shares during the last quarter. MAI Capital Management raised its stake in shares of Prudential Public by 90.6% in the second quarter. MAI Capital Management now owns 2,573 shares of the financial services provider's stock worth $64,000 after purchasing an additional 1,223 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Prudential Public 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 purchasing an additional 1,140 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Prudential Public in the first quarter worth $60,000. Finally, AlphaCore Capital LLC purchased a new position in shares of Prudential Public in the second quarter worth $77,000. Hedge funds and other institutional investors own 1.90% of the company's stock.

Prudential Public Trading Up 1.1%

PUK opened at $27.85 on Tuesday. Prudential Public has a 52 week low of $14.39 and a 52 week high of $28.24. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.21. The stock has a market cap of $35.82 billion, a PE ratio of 12.01, a PEG ratio of 0.78 and a beta of 1.04. The business has a 50 day moving average of $26.25 and a 200-day moving average of $23.63.

Prudential Public Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, October 16th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.1542 per share. The ex-dividend date is Friday, September 5th. This represents a yield of 117.0%. Prudential Public's payout ratio is presently 12.50%.

About Prudential Public

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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