Prudential Public (NYSE:PUK) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Prudential Public's share price has recently surpassed its 200-day moving average of $23.33, reaching a high of $28.24 during trading.
• The company announced a dividend of $0.1542 per share, set to be paid on October 16th, with a dividend yield of 117.0%.
• A majority of analysts maintain a positive outlook, with a consensus rating of "Buy" for Prudential Public shares.

Prudential Public Limited Company (NYSE:PUK - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.33 and traded as high as $28.24. Prudential Public shares last traded at $28.07, with a volume of 711,901 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Prudential Public from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Barclays restated an "overweight" rating on shares of Prudential Public in a research note on Monday, September 8th. UBS Group restated a "buy" rating on shares of Prudential Public in a research note on Thursday, August 28th. Finally, Wall Street Zen cut Prudential Public from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Prudential Public currently has a consensus rating of "Buy".

Prudential Public Trading Up 0.8%

The stock has a market capitalization of $36.10 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 0.79 and a beta of 1.04. The firm has a 50-day moving average price of $25.98 and a 200-day moving average price of $23.33. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.21.

Prudential Public Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, October 16th. Stockholders of record on Friday, September 5th will be given a dividend of $0.1542 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a dividend yield of 117.0%. Prudential Public's dividend payout ratio (DPR) is currently 12.50%.

Institutional Investors Weigh In On Prudential Public

Several large investors have recently made changes to their positions in the business. Ballentine Partners LLC lifted its position in Prudential Public by 2.4% in the 2nd quarter. Ballentine Partners LLC now owns 18,598 shares of the financial services provider's stock worth $465,000 after buying an additional 430 shares during the last quarter. ICONIQ Capital LLC lifted its position in Prudential Public by 3.9% in the 2nd quarter. ICONIQ Capital LLC now owns 14,098 shares of the financial services provider's stock worth $353,000 after buying an additional 531 shares during the last quarter. Choreo LLC lifted its position in Prudential Public by 5.1% in the 2nd quarter. Choreo LLC now owns 12,669 shares of the financial services provider's stock worth $317,000 after buying an additional 620 shares during the last quarter. Rhumbline Advisers increased its stake in Prudential Public by 5.9% in the 2nd quarter. Rhumbline Advisers now owns 12,367 shares of the financial services provider's stock worth $309,000 after purchasing an additional 694 shares during the period. Finally, Gallacher Capital Management LLC increased its stake in Prudential Public by 4.5% in the 2nd quarter. Gallacher Capital Management LLC now owns 16,269 shares of the financial services provider's stock worth $407,000 after purchasing an additional 706 shares during the period. 1.90% of the stock is owned by hedge funds and other institutional investors.

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.

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