Prudential Public (NYSE:PUK) Sets New 1-Year High - Here's Why

Key Points

• Prudential Public Limited Company (NYSE:PUK) shares reached a new 52-week high of $28.24 during trading, closing at $28.07 with significant trading volume of 711,901 shares.
• The company recently announced a dividend of $0.1542, payable on October 16th, representing a notable yield of 117.0%.
• Analyst ratings are mixed, with Wall Street Zen downgrading the stock to a "hold", while UBS, Deutsche Bank, and Barclays maintain or upgrade their "buy" ratings.

Prudential Public Limited Company (NYSE:PUK - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $28.24 and last traded at $28.07, with a volume of 711901 shares traded. The stock had previously closed at $27.85.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Prudential Public from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Wall Street Zen downgraded shares of Prudential Public from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. UBS Group reiterated a "buy" rating on shares of Prudential Public in a report on Thursday, August 28th. Finally, Barclays reissued an "overweight" rating on shares of Prudential Public in a research report on Monday, September 8th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy".

Prudential Public Trading Down 2.1%

The firm has a market cap of $35.39 billion, a PE ratio of 11.86, a P/E/G ratio of 0.80 and a beta of 1.04. 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 company's 50 day moving average price is $26.19 and its two-hundred day moving average price is $23.52.

Prudential Public Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PUK. Smartleaf Asset Management LLC raised its stake in shares of Prudential Public by 38.1% during the 1st 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 in the last quarter. MAI Capital Management raised its position in shares of Prudential Public by 90.6% during the second 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 last quarter. Bruce G. Allen Investments LLC increased its holdings in 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 valued at $59,000 after purchasing an additional 1,140 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Prudential Public in the first quarter worth about $60,000. Finally, AlphaCore Capital LLC acquired a new position in shares of Prudential Public during the second quarter worth about $77,000. 1.90% of the stock is currently owned by 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.