Prudential Public (NYSE:PUK) Hits New 1-Year High - Still a Buy?

Key Points

• Prudential Public's stock reached a new 52-week high of $27.62, reflecting strong trading activity with 9,853 shares exchanged.
• Analysts have shown renewed confidence in Prudential Public, with several firms maintaining or upgrading their ratings, resulting in an average rating of "Buy."
• The company declared a dividend of $0.1542 per share, set to yield an impressive 117.0%, with a payout ratio of 12.07%.

Prudential Public Limited Company (NYSE:PUK - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $27.58 and last traded at $27.62, with a volume of 9853 shares. The stock had previously closed at $26.72.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PUK. Barclays restated an "overweight" rating on shares of Prudential Public in a research note on Monday, September 8th. UBS Group restated a "buy" rating on shares of Prudential Public in a research report 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 lowered Prudential Public from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy".

Prudential Public Price Performance

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 firm has a market capitalization of $36.12 billion, a PE ratio of 12.11, a PEG ratio of 0.79 and a beta of 1.04. The stock has a 50-day moving average price of $25.90 and a 200 day moving average price of $23.27.

Prudential Public Announces Dividend

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

Institutional Trading of Prudential Public

Several large investors have recently added to or reduced their stakes in PUK. BNP Paribas Financial Markets grew its holdings in Prudential Public by 99.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 819,518 shares of the financial services provider's stock valued at $20,504,000 after buying an additional 409,517 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Prudential Public by 725.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 385,917 shares of the financial services provider's stock worth $9,656,000 after purchasing an additional 339,188 shares during the period. Causeway Capital Management LLC grew its holdings in shares of Prudential Public by 10.1% during 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 purchasing an additional 216,828 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Prudential Public by 30.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 822,909 shares of the financial services provider's stock worth $20,589,000 after purchasing an additional 193,454 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Prudential Public by 23.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 784,201 shares of the financial services provider's stock worth $16,860,000 after purchasing an additional 147,575 shares during the period. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

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.