Prudential Public (NYSE:PUK) Sets New 52-Week High - What's Next?

Key Points

• Prudential Public Limited Company's stock reached a new 52-week high of $26.12, closing at $26.00 with a trading volume of 606,005 shares.
• Analysts have a consensus "Buy" rating for Prudential, with several upgrades from firms like Deutsche Bank and Morgan Stanley in recent months.
• The company has a market capitalization of $33.52 billion and significant recent investments from hedge funds, indicating growing institutional interest in its shares.

Prudential Public Limited Company (NYSE:PUK - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $26.12 and last traded at $26.00, with a volume of 606005 shares. The stock had previously closed at $25.91.

Analyst Upgrades and Downgrades

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

Prudential Public Stock 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 business's 50 day moving average is $24.74 and its 200 day moving average is $21.71. The stock has a market capitalization of $33.52 billion, a PE ratio of 11.21, a PEG ratio of 0.75 and a beta of 1.06.

Hedge Funds Weigh In On Prudential Public

Large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Prudential Public by 33.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,442 shares of the financial services provider's stock worth $1,266,000 after purchasing an additional 19,889 shares during the period. GAMMA Investing LLC lifted its holdings in Prudential Public by 182.6% during the 1st quarter. GAMMA Investing LLC now owns 6,508 shares of the financial services provider's stock valued at $140,000 after buying an additional 4,205 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Prudential Public during the 1st quarter valued at about $272,000. Janney Montgomery Scott LLC bought a new stake in Prudential Public during the 1st quarter valued at about $201,000. Finally, First Trust Advisors LP bought a new stake in Prudential Public during the 4th quarter valued at about $228,000. 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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