Prudential Public (NYSE:PUK) Sets New 52-Week High - Here's Why

Key Points

• Prudential Public Limited Company (NYSE:PUK) reached a new 52-week high of $25.60 during trading, showing a strong performance with a closing price of $25.57.
• Several analysts have recently upgraded their ratings for Prudential Public, with five giving it a "buy" rating, reflecting positive sentiment in the market.
• Institutional investors have been actively trading Prudential Public, with significant new positions taken by several firms, indicating growing interest from larger investment entities.

Shares of Prudential Public Limited Company (NYSE:PUK - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $25.60 and last traded at $25.57, with a volume of 476805 shares changing hands. The stock had previously closed at $24.80.

Wall Street Analyst Weigh In

PUK has been the subject of a number of recent research reports. Barclays reissued an "overweight" rating on shares of Prudential Public in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft raised shares of Prudential Public from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Wall Street Zen raised shares of Prudential Public from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Prudential Public in a research report on Tuesday, May 13th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy".

Prudential Public Price Performance

The firm has a market cap of $32.62 billion, a P/E ratio of 10.91, a PEG ratio of 0.72 and a beta of 1.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.04 and a quick ratio of 0.04. The stock's 50-day simple moving average is $24.37 and its two-hundred day simple moving average is $21.30.

Institutional Trading of Prudential Public

Large investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its stake in shares of Prudential Public by 38.1% during the first quarter. Smartleaf Asset Management LLC now owns 2,563 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 707 shares during the period. Bruce G. Allen Investments LLC boosted its stake in shares of Prudential Public by 70.4% during 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 period. SVB Wealth LLC purchased a new stake in shares of Prudential Public during the first quarter valued at $60,000. National Bank of Canada FI boosted its stake in shares of Prudential Public by 52.6% during the fourth quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 1,049 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in Prudential Public by 86.6% in the first quarter. Geneos Wealth Management Inc. now owns 3,683 shares of the financial services provider's stock worth $79,000 after acquiring an additional 1,709 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.