Prudential (NYSE:PUK) Shares Gap Down to $17.41

Prudential plc (NYSE:PUK)’s share price gapped down prior to trading on Friday . The stock had previously closed at $17.41, but opened at $16.96. Prudential shares last traded at $16.91, with a volume of 49,110 shares.

Analyst Upgrades and Downgrades

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

Prudential Trading Down 3.8 %

The company’s 50-day moving average is $17.23 and its 200 day moving average is $18.42. The company has a current ratio of 0.04, a quick ratio of 0.03 and a debt-to-equity ratio of 0.23. The firm has a market cap of $23.03 billion, a PE ratio of 8.06, a P/E/G ratio of 0.46 and a beta of 1.22.

Prudential Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, September 6th will be given a $0.1368 dividend. The ex-dividend date of this dividend is Friday, September 6th. Prudential’s dividend payout ratio (DPR) is presently 12.50%.

Hedge Funds Weigh In On Prudential

Several institutional investors and hedge funds have recently bought and sold shares of PUK. Principal Securities Inc. acquired a new stake in shares of Prudential during the fourth quarter worth approximately $28,000. Russell Investments Group Ltd. lifted its position in Prudential by 369.2% in the 4th quarter. Russell Investments Group Ltd. now owns 1,370 shares of the financial services provider’s stock worth $31,000 after buying an additional 1,078 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Prudential by 45.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock valued at $40,000 after buying an additional 699 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Prudential during the 2nd quarter valued at $44,000. Finally, Blue Trust Inc. increased its stake in shares of Prudential by 202.2% in the second quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 1,806 shares during the last quarter. Hedge funds and other institutional investors 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.