Prudential Public (NYSE:PUK) Hits New 52-Week 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 stock 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 analysts have recently issued reports on PUK shares. UBS Group reaffirmed 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 report on Friday, June 6th. Wall Street Zen cut Prudential Public from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Barclays restated an "overweight" rating on shares of Prudential Public in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, Prudential Public currently has an average rating of "Buy".

Prudential Public Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.04 and a current ratio of 0.04. The company has a 50-day simple moving average of $25.90 and a 200-day simple moving average of $23.20. The company has a market cap of $35.82 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.80 and a beta of 1.04.

Prudential Public Announces Dividend

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

Institutional Investors Weigh In On Prudential Public

Institutional investors and hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of Prudential Public by 38.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,563 shares of the financial services provider's stock worth $55,000 after acquiring an additional 707 shares during the period. Bruce G. Allen Investments LLC grew its holdings in shares of Prudential Public by 70.4% in the 1st 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 during the period. SVB Wealth LLC acquired a new stake in shares of Prudential Public in the 1st quarter worth approximately $60,000. MAI Capital Management grew its holdings in shares of Prudential Public by 90.6% in the 2nd quarter. MAI Capital Management now owns 2,573 shares of the financial services provider's stock worth $64,000 after acquiring an additional 1,223 shares during the period. Finally, AlphaCore Capital LLC acquired a new stake in shares of Prudential Public in the 2nd quarter worth approximately $77,000. Institutional investors and hedge funds own 1.90% of the company's stock.

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.