Prudential Public (NYSE:PUK) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Prudential Public (NYSE:PUK) from a buy rating to a hold rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “PRUDENTIAL PLC provides retail financial products and services and fund management to many millions of customers worldwide. Their commitment to the shareholders who own Prudential is to maximise the value over time of their investment. They do this by investing for the long term to develop and bring out the best in their people and their businesses to produce superior products and services, and hence superior financial returns. Their aim is to deliver top quartile performance among their international peer group in terms of total shareholder returns. “

PUK has been the subject of several other research reports. Macquarie began coverage on Prudential Public in a research report on Wednesday, October 2nd. They set an outperform rating for the company. Deutsche Bank lowered Prudential Public from a buy rating to a hold rating in a research report on Wednesday, October 23rd. Goldman Sachs Group began coverage on Prudential Public in a research report on Monday, October 28th. They set a buy rating for the company. Finally, ValuEngine lowered Prudential Public from a hold rating to a sell rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Prudential Public presently has an average rating of Hold and a consensus price target of $42.00.

PUK opened at $37.87 on Friday. The firm has a market cap of $49.49 billion, a P/E ratio of 7.67, a P/E/G ratio of 1.03 and a beta of 1.47. Prudential Public has a 12 month low of $31.84 and a 12 month high of $46.50. The stock has a 50-day moving average of $36.78 and a 200 day moving average of $37.54.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in shares of Prudential Public by 1.0% in the second quarter. Bank of America Corp DE now owns 3,747,894 shares of the financial services provider’s stock valued at $164,232,000 after purchasing an additional 37,828 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of Prudential Public by 3.1% in the second quarter. Parametric Portfolio Associates LLC now owns 1,316,095 shares of the financial services provider’s stock valued at $57,671,000 after purchasing an additional 39,032 shares during the period. Royal Bank of Canada boosted its holdings in shares of Prudential Public by 6.7% in the second quarter. Royal Bank of Canada now owns 807,225 shares of the financial services provider’s stock valued at $35,373,000 after purchasing an additional 50,466 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Prudential Public by 30.0% in the second quarter. Renaissance Technologies LLC now owns 648,000 shares of the financial services provider’s stock valued at $28,395,000 after purchasing an additional 149,600 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Prudential Public by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 548,118 shares of the financial services provider’s stock valued at $24,019,000 after purchasing an additional 13,981 shares during the period. Hedge funds and other institutional investors own 1.92% of the company’s stock.

Prudential Public Company Profile

Prudential plc, through its subsidiaries, provides a range of retail financial products and services, and asset management services in Asia, the United States, the United Kingdom, Europe, and Africa. The company offers health and protection, as well as other life insurance products, including participating business; mutual funds; and personal lines property and casualty insurance, group insurance, and institutional fund management services.

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Analyst Recommendations for Prudential Public (NYSE:PUK)

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