Prudential Public (NYSE:PUK) Hits New 52-Week High - Should You Buy?

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.

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

Analyst Ratings Changes

Several equities research analysts have commented on PUK shares. Deutsche Bank Aktiengesellschaft upgraded shares of Prudential Public from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Morgan Stanley reaffirmed an "overweight" rating on shares of Prudential Public in a report on Tuesday, May 13th. Barclays reaffirmed an "overweight" rating on shares of Prudential Public in a report on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Prudential Public from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Prudential Public presently has a consensus rating of "Buy".

Prudential Public Price Performance

The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $32.33 billion, a P/E ratio of 10.80, a P/E/G ratio of 0.74 and a beta of 1.06. The business's fifty day moving average price is $24.37 and its 200-day moving average price is $21.21.

Institutional Trading of Prudential Public

A number of hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can raised its position in Prudential Public by 165.3% in the 4th quarter. Bank of Montreal Can now owns 1,554,255 shares of the financial services provider's stock worth $24,775,000 after purchasing an additional 968,317 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Prudential Public by 1,133.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,051,231 shares of the financial services provider's stock valued at $16,757,000 after purchasing an additional 965,985 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Prudential Public by 321.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider's stock valued at $19,713,000 after purchasing an additional 943,487 shares in the last quarter. Optiver Holding B.V. boosted its stake in Prudential Public by 93.2% during the fourth quarter. Optiver Holding B.V. now owns 629,567 shares of the financial services provider's stock worth $10,035,000 after acquiring an additional 303,783 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Prudential Public during the fourth quarter worth about $4,312,000. 1.90% of the stock is owned by 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.