Prudential Public (NYSE:PUK) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Prudential Public (NYSE:PUK) from a hold rating to a sell rating in a report released on Sunday morning,Wall Street Zen reports.

Other research analysts have also issued research reports about the stock. Berenberg Bank set a $39.30 price objective on shares of Prudential Public and gave the company a “buy” rating in a research note on Thursday, September 3rd. Zacks Research upgraded shares of Prudential Public from a “strong sell” rating to a “hold” rating in a report on Monday, September 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Public in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Prudential Public presently has an average rating of “Moderate Buy” and a consensus price target of $39.30.

Prudential Public Stock Performance

Shares of Prudential Public stock opened at $24.60 on Friday. The business has a fifty day simple moving average of $27.20 and a 200-day simple moving average of $28.34. Prudential Public has a fifty-two week low of $24.25 and a fifty-two week high of $34.03.

Prudential Public (NYSE:PUK) last issued its earnings results on Friday, August 14th. The financial services provider reported $0.58 earnings per share for the quarter. The business had revenue of $3.90 billion for the quarter. Sell-side analysts forecast that Prudential Public will post 2.34 EPS for the current year.

Prudential Public Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, October 22nd. Investors of record on Friday, September 11th will be issued a $0.1776 dividend. This represents a yield of 133.0%. The ex-dividend date is Friday, September 11th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in Prudential Public by 19.1% during the third quarter. Versant Capital Management Inc now owns 18,956 shares of the financial services provider’s stock valued at $469,000 after acquiring an additional 3,044 shares during the period. WINTON GROUP Ltd grew its holdings in shares of Prudential Public by 373.2% during the 2nd quarter. WINTON GROUP Ltd now owns 70,500 shares of the financial services provider’s stock worth $1,890,000 after purchasing an additional 55,600 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Prudential Public during the 2nd quarter worth approximately $26,000. Squarepoint Ops LLC bought a new stake in shares of Prudential Public during the second quarter valued at approximately $569,000. Finally, Corient Private Wealth LP increased its position in shares of Prudential Public by 8.7% during the second quarter. Corient Private Wealth LP now owns 15,939 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 1,276 shares during the period. 1.90% of the stock is owned by institutional investors.

About Prudential Public

Prudential plc (NYSE: PUK) is an international insurance and financial services company headquartered in London. The company focuses on serving customers in Asia and Africa, providing financial protection and long-term savings solutions through its insurance and asset management businesses.

Its principal products and services include life insurance, health and medical coverage, savings and investment products, retirement planning, and wealth management. Prudential distributes its offerings through agency networks, bancassurance partnerships, brokers, and digital channels, serving individuals, families, and businesses.

Founded in 1848, Prudential has developed a substantial presence across markets including Hong Kong, mainland China, Indonesia, Malaysia, Singapore, Thailand, Vietnam, the Philippines, Taiwan, and selected African countries.