Prudential (NYSE:PUK) Lifted to “Neutral” at BNP Paribas

BNP Paribas upgraded shares of Prudential (NYSE:PUK) from an underperform rating to a neutral rating in a research note issued to investors on Monday, MarketBeat Ratings reports.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Prudential from GBX 1,700 ($21.27) to GBX 1,630 ($20.40) in a research report on Thursday, August 31st. UBS Group reduced their price objective on shares of Prudential from GBX 1,590 ($19.90) to GBX 1,440 ($18.02) in a research report on Wednesday, July 12th. StockNews.com assumed coverage on shares of Prudential in a research report on Thursday, August 17th. They set a hold rating on the stock. Morgan Stanley reduced their price objective on shares of Prudential from GBX 1,542 ($19.30) to GBX 1,510 ($18.90) in a research report on Thursday, July 13th. Finally, Barclays boosted their price objective on shares of Prudential from GBX 1,575 ($19.71) to GBX 1,610 ($20.15) in a research report on Thursday, September 7th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential has a consensus rating of Moderate Buy and an average target price of $1,491.67.

Prudential Price Performance

Shares of NYSE PUK opened at $23.43 on Monday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.23. Prudential has a 52 week low of $18.20 and a 52 week high of $34.37. The firm’s fifty day moving average is $25.86 and its 200 day moving average is $27.50.

Prudential Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Thursday, October 19th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.1252 per share. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, September 7th.

Institutional Trading of Prudential

A number of hedge funds have recently modified their holdings of PUK. FinTrust Capital Advisors LLC boosted its stake in Prudential by 51.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 975 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 332 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Prudential by 3.3% in the 1st quarter. Pacer Advisors Inc. now owns 10,650 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 342 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Prudential by 58.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,011 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 372 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Prudential by 53.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,088 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 379 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Prudential by 3.3% in the 1st quarter. Vanguard Personalized Indexing Management LLC now owns 12,551 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 405 shares in the last quarter. Institutional investors own 1.90% of the company’s stock.

About Prudential

Prudential plc, through its subsidiaries, provides life and health insurance, and retirement and asset management solutions to individuals in Asia, and Africa. It offers health and protection, as well as non- participating savings products, such as protection and investment-linked products. The company also provides insurance against common critical illnesses; property and casualty; and tropical disease protection, such as dengue, malaria, and measles.