Prudential (NYSE:PUK) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Prudential (NYSE:PUK – Get Rating) in a research note issued to investors on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the company. Barclays lowered their price target on Prudential from GBX 1,750 ($21.92) to GBX 1,700 ($21.30) in a report on Thursday, March 16th. Deutsche Bank Aktiengesellschaft increased their target price on Prudential from GBX 1,460 ($18.29) to GBX 1,550 ($19.42) in a report on Monday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on Prudential from GBX 1,750 ($21.92) to GBX 1,850 ($23.17) in a report on Thursday, March 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prudential presently has a consensus rating of Moderate Buy and a consensus target price of $1,540.00.

Prudential Price Performance

NYSE PUK opened at $29.48 on Thursday. Prudential has a 12 month low of $18.20 and a 12 month high of $34.37. The stock’s fifty day moving average price is $28.18 and its 200-day moving average price is $28.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.04 and a quick ratio of 0.04.

Prudential Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, March 24th were paid a $0.2608 dividend. This represents a dividend yield of 1.47%. This is a positive change from Prudential’s previous Semi-Annual dividend of $0.24. The ex-dividend date was Thursday, March 23rd.

Institutional Investors Weigh In On Prudential

Several institutional investors have recently modified their holdings of PUK. Bank of New York Mellon Corp lifted its stake in shares of Prudential by 14.6% during the 1st quarter. Bank of New York Mellon Corp now owns 807,381 shares of the financial services provider’s stock worth $23,881,000 after acquiring an additional 102,809 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Prudential by 37.1% during the 1st quarter. American Century Companies Inc. now owns 51,990 shares of the financial services provider’s stock worth $1,538,000 after acquiring an additional 14,067 shares during the last quarter. US Bancorp DE lifted its stake in shares of Prudential by 35.0% during the 1st quarter. US Bancorp DE now owns 18,524 shares of the financial services provider’s stock worth $548,000 after acquiring an additional 4,801 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Prudential by 45.1% during the 1st quarter. BlackRock Inc. now owns 2,417,858 shares of the financial services provider’s stock worth $71,520,000 after acquiring an additional 751,756 shares during the last quarter. Finally, Sei Investments Co. raised its position in Prudential by 42.4% during the 1st quarter. Sei Investments Co. now owns 206,600 shares of the financial services provider’s stock valued at $6,132,000 after purchasing an additional 61,500 shares in the last quarter. 1.93% of the stock is owned by institutional investors.

Prudential Company Profile

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Prudential Plc is a holding company, which engages in the provision of insurance and financial services. It operates through the following geographical segments: CPL, Hong Kong, Indonesia, Malaysia, Singapore, Growth Markets and Other, and Eatspring. The company was founded on May 30, 1848 and is headquartered in London, the United Kingdom.