Prudential Public (NYSE:PUK) Sets 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.

Prudential Public Limited Company (NYSE:PUK - Get Free Report)'s stock price hit a new 52-week high during trading 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.

Wall Street Analysts Forecast Growth

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

Prudential Public Trading Down 0.2%

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market cap of $33.42 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.75 and a beta of 1.06. The company has a 50-day simple moving average of $24.62 and a 200-day simple moving average of $21.49.

Institutional Trading of Prudential Public

A number of institutional investors have recently bought and sold shares of the business. Bank of Montreal Can raised its position in shares of Prudential Public by 165.3% during the fourth 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. JPMorgan Chase & Co. lifted its stake in Prudential Public by 321.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider's stock valued at $19,713,000 after buying an additional 943,487 shares in the last quarter. Optiver Holding B.V. boosted its holdings in shares of Prudential Public by 93.2% in the fourth quarter. Optiver Holding B.V. now owns 629,567 shares of the financial services provider's stock valued at $10,035,000 after buying an additional 303,783 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Prudential Public during the fourth quarter worth $4,312,000. Finally, Causeway Capital Management LLC boosted its stake in Prudential Public by 10.1% in the 1st quarter. Causeway Capital Management LLC now owns 2,353,670 shares of the financial services provider's stock worth $50,604,000 after purchasing an additional 216,828 shares during the period. Institutional investors and hedge funds own 1.90% of the company's stock.

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.