Prudential (NYSE:PUK) Rating Increased to Strong-Buy at Barclays

Barclays upgraded shares of Prudential (NYSE:PUK) to a strong-buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

Other research analysts also recently issued reports about the company. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. BNP Paribas raised Prudential from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Prudential from a “buy” rating to a “hold” rating in a research report on Monday, August 5th.

Prudential Stock Performance

Shares of NYSE:PUK opened at $17.65 on Tuesday. Prudential has a 52 week low of $15.77 and a 52 week high of $23.73. The firm has a market cap of $24.27 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of 0.50 and a beta of 1.22. The firm’s fifty day moving average is $17.34 and its 200-day moving average is $18.14.

Prudential Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, September 6th will be paid a $0.1368 dividend. The ex-dividend date is Friday, September 6th. Prudential’s dividend payout ratio is 12.62%.

Institutional Investors Weigh In On Prudential

Several large investors have recently added to or reduced their stakes in PUK. EverSource Wealth Advisors LLC raised its holdings in shares of Prudential by 45.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 699 shares during the period. Bruce G. Allen Investments LLC acquired a new position in Prudential during the 2nd quarter worth approximately $44,000. Russell Investments Group Ltd. raised its stake in Prudential by 98.0% during the 1st quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,342 shares during the period. Blue Trust Inc. grew its stake in Prudential by 202.2% in the second quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,806 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Prudential during the first quarter worth approximately $75,000. Institutional investors and hedge funds own 1.90% of the company’s stock.

About Prudential

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.