Prudential Public (NYSE:PUK) Sees Strong Trading Volume - Time to Buy?

Key Points

• Prudential Public Limited Company experienced a significant increase in trading volume, with 1,877,496 shares traded—up 96% from the previous session.
• Analysts are divided on Prudential's prospects, with Barclays reaffirming an "overweight" rating, while Wall Street Zen downgraded it to "hold" amidst mixed reviews from five analysts favoring "buy" and one "hold."
• The company recently announced a dividend of $0.1542, yielding 117.0%, and has a market capitalization of $35.40 billion along with a PE ratio of 11.90.

Shares of Prudential Public Limited Company (NYSE:PUK - Get Free Report) saw an uptick in trading volume on Friday . 1,877,496 shares were traded during trading, an increase of 96% from the previous session's volume of 958,644 shares.The stock last traded at $27.62 and had previously closed at $27.33.

Analysts Set New Price Targets

Several research firms have commented on PUK. Barclays reissued an "overweight" rating on shares of Prudential Public in a report on Monday, September 8th. Wall Street Zen cut shares of Prudential Public from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. UBS Group restated a "buy" rating on shares of Prudential Public in a research report on Thursday, August 28th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Prudential Public in a research report on Tuesday, October 14th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Prudential Public currently has an average rating of "Moderate Buy".

Prudential Public Trading Up 1.1%

The company has a market capitalization of $35.40 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.78 and a beta of 1.02. The stock's 50-day moving average is $27.19 and its two-hundred day moving average is $24.70.

Prudential Public Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, October 16th. Investors of record on Friday, September 5th were given a $0.1542 dividend. This represents a yield of 117.0%. The ex-dividend date of this dividend was Friday, September 5th. Prudential Public's dividend payout ratio is 12.50%.

Hedge Funds Weigh In On Prudential Public

A number of institutional investors have recently modified their holdings of the stock. Forum Financial Management LP purchased a new position in shares of Prudential Public during the third quarter worth approximately $201,000. SG Americas Securities LLC purchased a new position in shares of Prudential Public during the third quarter worth approximately $176,000. Signaturefd LLC increased its position in shares of Prudential Public by 1.7% during the third quarter. Signaturefd LLC now owns 27,793 shares of the financial services provider's stock worth $778,000 after acquiring an additional 456 shares during the period. Merit Financial Group LLC increased its position in shares of Prudential Public by 7.9% during the third quarter. Merit Financial Group LLC now owns 17,978 shares of the financial services provider's stock worth $503,000 after acquiring an additional 1,318 shares during the period. Finally, Ethic Inc. increased its position in shares of Prudential Public by 14.8% during the third quarter. Ethic Inc. now owns 41,728 shares of the financial services provider's stock worth $1,168,000 after acquiring an additional 5,370 shares during the period. 1.90% of the stock is owned by hedge funds and other institutional investors.

Prudential Public 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.

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