Prudential Public (PUK) Downgraded to Hold at Zacks Investment Research

Prudential Public (NYSE:PUK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, April 6th.

According to Zacks, “PRUDENTIAL PLC provides retail financial products and services and fund management to many millions of customers worldwide. Their commitment to the shareholders who own Prudential is to maximise the value over time of their investment. They do this by investing for the long term to develop and bring out the best in their people and their businesses to produce superior products and services, and hence superior financial returns. Their aim is to deliver top quartile performance among their international peer group in terms of total shareholder returns. “

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Other equities analysts have also issued reports about the company. ValuEngine lowered Prudential Public from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. Berenberg Bank downgraded Prudential Public from a “hold” rating to a “sell” rating in a research report on Thursday, March 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Prudential Public presently has an average rating of “Hold” and a consensus target price of $57.00.

Prudential Public stock traded up $0.68 during midday trading on Friday, hitting $52.45. The stock had a trading volume of 355,541 shares, compared to its average volume of 183,422. The firm has a market cap of $66,971.84, a P/E ratio of 14.02, a P/E/G ratio of 1.35 and a beta of 1.56. Prudential Public has a 12 month low of $41.12 and a 12 month high of $55.36. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.39.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PUK. Bank of New York Mellon Corp lifted its position in Prudential Public by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 317,899 shares of the financial services provider’s stock worth $15,230,000 after purchasing an additional 2,975 shares during the period. Ameriprise Financial Inc. lifted its position in Prudential Public by 6.3% in the third quarter. Ameriprise Financial Inc. now owns 182,474 shares of the financial services provider’s stock worth $8,752,000 after purchasing an additional 10,762 shares during the period. JPMorgan Chase & Co. lifted its position in Prudential Public by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 601,458 shares of the financial services provider’s stock worth $28,858,000 after purchasing an additional 13,940 shares during the period. First Republic Investment Management Inc. lifted its position in Prudential Public by 32.1% in the third quarter. First Republic Investment Management Inc. now owns 7,251 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 1,764 shares during the period. Finally, Earnest Partners LLC lifted its position in Prudential Public by 3.2% in the third quarter. Earnest Partners LLC now owns 33,178 shares of the financial services provider’s stock worth $1,590,000 after purchasing an additional 1,036 shares during the period. Hedge funds and other institutional investors own 1.57% of the company’s stock.

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Prudential Public Company Profile

Prudential Public Limited Company is an international financial services company. The Company offers a range of retail financial products and services and asset management services throughout these territories. The Company operates through Insurance operations and Asset management operations. The retail financial products and services include life insurance, pensions and annuities as well as collective investment schemes.

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