Prudential Public (NYSE:PUK) Hits New 12-Month High - Should You Buy?

Key Points

• Prudential Public's stock reached a new 52-week high of $25.66, closing at $25.58, with a trading volume of 615,965 shares.
• Several analysts have upgraded Prudential Public, with five rating the stock as a "Buy", reflecting strong market confidence.
• Institutional investors have shown significant interest, with substantial increases in holdings from firms such as JPMorgan Chase & Co. and Causeway Capital Management LLC.

Shares of Prudential Public Limited Company (NYSE:PUK - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $25.66 and last traded at $25.58, with a volume of 615965 shares trading hands. The stock had previously closed at $25.32.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PUK. 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 upgraded Prudential Public from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Morgan Stanley restated an "overweight" rating on shares of Prudential Public in a research note on Tuesday, May 13th. Finally, Barclays restated an "overweight" rating on shares of Prudential Public in a research note on Thursday, May 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy".

Prudential Public Stock Performance

The company has a market capitalization of $33.42 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.75 and a beta of 1.06. The stock has a fifty day moving average price of $24.68 and a two-hundred day moving average price of $21.60. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Prudential Public

Several institutional investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC grew its position in Prudential Public by 2.4% during the second quarter. Ballentine Partners LLC now owns 18,598 shares of the financial services provider's stock valued at $465,000 after acquiring an additional 430 shares during the period. Choreo LLC grew its position in Prudential Public by 5.6% during the first quarter. Choreo LLC now owns 12,049 shares of the financial services provider's stock valued at $259,000 after acquiring an additional 644 shares during the period. Gallacher Capital Management LLC grew its position in Prudential Public by 4.5% during the second quarter. Gallacher Capital Management LLC now owns 16,269 shares of the financial services provider's stock valued at $407,000 after acquiring an additional 706 shares during the period. Smartleaf Asset Management LLC grew its position in 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 acquiring an additional 707 shares during the period. Finally, Pacer Advisors Inc. grew its position in Prudential Public by 7.9% during the first quarter. Pacer Advisors Inc. now owns 11,965 shares of the financial services provider's stock valued at $257,000 after acquiring an additional 877 shares during the period. 1.90% of the stock is currently owned by institutional investors and hedge funds.

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.