Prudential (NYSE:PUK) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Prudential (NYSE:PUK) from a sell rating to a hold rating in a report released on Wednesday.

Separately, BNP Paribas raised shares of Prudential from a neutral rating to an outperform rating in a research note on Wednesday, June 26th.

Prudential Stock Performance

PUK stock opened at $18.70 on Wednesday. The firm has a 50-day moving average price of $19.06 and a 200-day moving average price of $19.91. Prudential has a 12 month low of $17.12 and a 12 month high of $28.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.03 and a quick ratio of 0.03.

Institutional Trading of Prudential

A number of hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Prudential by 2.8% in the third quarter. Royal Bank of Canada now owns 2,104,380 shares of the financial services provider’s stock valued at $46,129,000 after buying an additional 58,097 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Prudential by 15.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,011,551 shares of the financial services provider’s stock valued at $45,159,000 after acquiring an additional 274,674 shares during the last quarter. Northern Trust Corp raised its stake in shares of Prudential by 11.2% during the third quarter. Northern Trust Corp now owns 1,331,838 shares of the financial services provider’s stock valued at $29,194,000 after acquiring an additional 134,347 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Prudential by 16.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 913,220 shares of the financial services provider’s stock worth $20,499,000 after purchasing an additional 128,949 shares during the period. Finally, Natixis Advisors L.P. grew its stake in shares of Prudential by 30.5% in the fourth quarter. Natixis Advisors L.P. now owns 537,636 shares of the financial services provider’s stock worth $12,069,000 after purchasing an additional 125,548 shares during the last quarter. 1.90% of the stock is owned by institutional investors and hedge funds.

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.