Prudential (NYSE:PUK) Raised to “Hold” at StockNews.com

Prudential (NYSE:PUK) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

Prudential Price Performance

Shares of NYSE PUK opened at $20.68 on Friday. Prudential has a 1 year low of $14.39 and a 1 year high of $21.10. The firm has a 50-day moving average of $17.73 and a 200 day moving average of $17.05. The stock has a market cap of $27.20 billion, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 0.41 and a beta of 1.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PUK. JPMorgan Chase & Co. grew its stake in shares of Prudential by 353.1% in the third quarter. JPMorgan Chase & Co. now owns 293,210 shares of the financial services provider’s stock worth $5,436,000 after acquiring an additional 228,499 shares during the last quarter. GAMMA Investing LLC boosted its stake in Prudential by 95.8% in the 4th quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,127 shares in the last quarter. ABC Arbitrage SA purchased a new stake in Prudential during the 4th quarter valued at about $16,207,000. Point72 Asset Management L.P. bought a new stake in Prudential during the 3rd quarter valued at about $1,281,000. Finally, Barclays PLC bought a new stake in Prudential during the 3rd quarter valued at about $556,000. Institutional investors own 1.90% of the company’s stock.

Prudential Company Profile

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.