Prudential (NYSE:PUK) Stock Rating Lowered by Zacks Investment Research

Prudential (NYSE:PUKGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “PRUDENTIAL PLC provides retail financial products and services and fund management to many millions of customers worldwide. Their commitment to the shareholders who own Prudential is to maximise the value over time of their investment. They do this by investing for the long term to develop and bring out the best in their people and their businesses to produce superior products and services, and hence superior financial returns. Their aim is to deliver top quartile performance among their international peer group in terms of total shareholder returns. “

A number of other research firms have also commented on PUK. StockNews.com began coverage on shares of Prudential in a report on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. lifted their target price on shares of Prudential from GBX 1,550 ($20.33) to GBX 1,590 ($20.85) in a report on Friday, March 18th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Prudential from GBX 1,640 ($21.51) to GBX 1,550 ($20.33) in a report on Wednesday, March 16th. The Goldman Sachs Group began coverage on shares of Prudential in a report on Sunday, February 13th. They set a “buy” rating for the company. Finally, Barclays lowered their target price on shares of Prudential from GBX 1,719 ($22.54) to GBX 1,665 ($21.84) in a report on Monday, April 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Prudential presently has an average rating of “Buy” and an average price target of $1,210.75.

Shares of Prudential stock opened at $28.91 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a 50 day simple moving average of $30.33 and a 200 day simple moving average of $34.84. Prudential has a fifty-two week low of $26.10 and a fifty-two week high of $44.99.

A number of large investors have recently modified their holdings of PUK. PSI Advisors LLC acquired a new position in Prudential in the 3rd quarter valued at about $29,000. UMB Bank N A MO acquired a new position in Prudential in the 4th quarter valued at about $26,000. CWM LLC acquired a new position in Prudential in the 4th quarter valued at about $29,000. National Bank of Canada FI acquired a new position in Prudential in the 4th quarter valued at about $33,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Prudential by 40.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,054 shares of the financial services provider’s stock valued at $37,000 after buying an additional 303 shares during the last quarter. Institutional investors and hedge funds own 18.01% of the company’s stock.

About Prudential (Get Rating)

Prudential plc, through its subsidiaries, provides life and health insurance, and retirement and asset management solutions to individuals in Asia, and Africa. It offers health and protection, as well as savings products, such as participating, linked, and other traditional products. The company also provides insurance against common critical illnesses, including cancer, stroke, and heart attack; and tropical disease protection, such as dengue, malaria, and measles.

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