Prudential plc (NYSE:PUK) Given Average Recommendation of “Buy” by Analysts

Shares of Prudential plc (NYSE:PUK) have been given an average rating of “Buy” by the five ratings firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating.

Several analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Prudential in a research note on Tuesday, May 13th. Wall Street Zen upgraded Prudential from a “hold” rating to a “buy” rating in a report on Saturday, June 7th. Citigroup reaffirmed a “buy” rating on shares of Prudential in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft raised Prudential from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Barclays restated an “overweight” rating on shares of Prudential in a research note on Thursday, May 22nd.

Prudential Price Performance

Shares of NYSE:PUK opened at $24.30 on Friday. The firm has a market capitalization of $31.64 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 0.41 and a beta of 1.02. The business has a 50 day simple moving average of $21.90 and a two-hundred day simple moving average of $19.03. Prudential has a 1 year low of $14.39 and a 1 year high of $24.38.

Prudential Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, May 14th. Investors of record on Friday, March 28th were paid a $0.3258 dividend. This is a positive change from Prudential’s previous dividend of $0.24. The ex-dividend date was Friday, March 28th. Prudential’s dividend payout ratio (DPR) is 28.02%.

Hedge Funds Weigh In On Prudential

Hedge funds and other institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in shares of Prudential by 417.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,497 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in Prudential in the fourth quarter valued at approximately $30,000. Advisors Preferred LLC acquired a new position in Prudential in the fourth quarter valued at approximately $31,000. Bruce G. Allen Investments LLC boosted its position in Prudential by 70.4% in the 1st quarter. Bruce G. Allen Investments LLC now owns 2,759 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,140 shares in the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of Prudential during the 1st quarter worth approximately $60,000. Institutional investors and hedge funds own 1.90% of the company’s stock.

About Prudential

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.