Prudential (NYSE:PUK) Shares Gap Up to $16.99

Prudential plc (NYSE:PUK)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $16.99, but opened at $18.36. Prudential shares last traded at $18.36, with a volume of 337,088 shares.

Wall Street Analysts Forecast Growth

PUK has been the subject of a number of recent research reports. StockNews.com upgraded shares of Prudential from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft lowered Prudential from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, BNP Paribas raised Prudential from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 26th.

Prudential Price Performance

The company has a quick ratio of 0.03, a current ratio of 0.04 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $17.10 and its 200-day moving average is $18.34.

Prudential Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, September 6th will be paid a $0.1368 dividend. The ex-dividend date of this dividend is Friday, September 6th.

Institutional Trading of Prudential

Several hedge funds and other institutional investors have recently modified their holdings of PUK. Sanctuary Advisors LLC acquired a new stake in Prudential during the second quarter worth approximately $678,000. Northwestern Mutual Wealth Management Co. boosted its stake in Prudential by 43.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,254 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 2,507 shares during the period. Creative Planning boosted its stake in Prudential by 96.8% in the 2nd quarter. Creative Planning now owns 70,751 shares of the financial services provider’s stock valued at $1,296,000 after purchasing an additional 34,799 shares during the period. AQR Capital Management LLC acquired a new position in Prudential in the 2nd quarter valued at $364,000. Finally, Marshall Wace LLP increased its position in Prudential by 13.5% during the 2nd quarter. Marshall Wace LLP now owns 1,076,579 shares of the financial services provider’s stock worth $19,723,000 after buying an additional 128,124 shares during the period. 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.