Prudential (NYSE:PUK) Cut to “Sell” at StockNews.com

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

Prudential Stock Performance

Shares of PUK opened at $19.69 on Friday. The company’s 50 day moving average price is $17.22 and its 200 day moving average price is $16.93. Prudential has a 52 week low of $14.39 and a 52 week high of $21.10. The company has a market capitalization of $25.90 billion, a PE ratio of 8.48, a PEG ratio of 0.41 and a beta of 1.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PUK. ABC Arbitrage SA purchased a new position in Prudential during the fourth quarter valued at approximately $16,207,000. Bank of Montreal Can grew its position in Prudential by 165.3% in the fourth quarter. Bank of Montreal Can now owns 1,554,255 shares of the financial services provider’s stock worth $24,775,000 after acquiring an additional 968,317 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Prudential by 1,133.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,051,231 shares of the financial services provider’s stock worth $16,757,000 after acquiring an additional 965,985 shares in the last quarter. JPMorgan Chase & Co. grew its position in Prudential by 321.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider’s stock worth $19,713,000 after acquiring an additional 943,487 shares in the last quarter. Finally, Optiver Holding B.V. grew its position in Prudential by 93.2% in the fourth quarter. Optiver Holding B.V. now owns 629,567 shares of the financial services provider’s stock worth $10,035,000 after acquiring an additional 303,783 shares in the last quarter. 1.90% of the stock is owned by hedge funds and other institutional investors.

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.