Prudential (NYSE:PUK) Lowered to “Sell” at Zacks Investment Research

Prudential (NYSE:PUKGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, 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. “

Several other equities analysts have also recently issued reports on PUK. JPMorgan Chase & Co. boosted their price target on Prudential from GBX 1,550 ($19.76) to GBX 1,590 ($20.27) in a research report on Friday, March 18th. UBS Group boosted their price target on Prudential from GBX 1,655 ($21.09) to GBX 1,685 ($21.48) in a research report on Tuesday, April 12th. Barclays dropped their price target on Prudential from GBX 1,719 ($21.91) to GBX 1,665 ($21.22) in a research report on Monday, April 4th. Deutsche Bank Aktiengesellschaft dropped their price target on Prudential from GBX 1,550 ($19.76) to GBX 1,475 ($18.80) in a research report on Wednesday, April 20th. Finally, The Goldman Sachs Group began coverage on Prudential in a research report on Sunday, February 13th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $1,304.67.

Prudential stock opened at $26.10 on Tuesday. Prudential has a fifty-two week low of $25.38 and a fifty-two week high of $44.99. 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 stock has a 50-day simple moving average of $29.05 and a 200-day simple moving average of $33.89.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PUK. UMB Bank N A MO acquired a new position in Prudential during the 4th quarter worth approximately $26,000. PSI Advisors LLC acquired a new stake in shares of Prudential in the 3rd quarter worth approximately $29,000. CWM LLC acquired a new stake in shares of Prudential in the 4th quarter worth approximately $29,000. National Bank of Canada FI acquired a new stake in shares of Prudential in the 4th quarter worth approximately $33,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 worth $37,000 after acquiring an additional 303 shares during the period. Institutional investors 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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