Prudential plc (NYSE:PUK – Get Free Report)’s share price gapped up prior to trading on Friday . The stock had previously closed at $22.87, but opened at $23.68. Prudential shares last traded at $23.62, with a volume of 91,897 shares.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Prudential from GBX 1,540 ($18.91) to GBX 1,460 ($17.93) in a research note on Tuesday, October 10th. BNP Paribas raised Prudential from an “underperform” rating to a “neutral” rating in a report on Monday, September 11th. Barclays upped their target price on Prudential from GBX 1,575 ($19.34) to GBX 1,610 ($19.77) in a report on Thursday, September 7th. StockNews.com lowered Prudential from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on Prudential from GBX 1,630 ($20.02) to GBX 1,500 ($18.42) in a report on Friday, September 22nd.
Prudential Price Performance
Prudential Cuts Dividend
The firm also recently announced a Semi-Annual dividend, which was paid on Thursday, October 19th. Investors of record on Friday, September 8th were given a dividend of $0.1252 per share. This represents a yield of 1.5%. The ex-dividend date was Thursday, September 7th.
Institutional Trading of Prudential
Several institutional investors and hedge funds have recently modified their holdings of PUK. BlackRock Inc. lifted its position in Prudential by 18.1% during the second quarter. BlackRock Inc. now owns 3,770,676 shares of the financial services provider’s stock valued at $106,786,000 after purchasing an additional 579,234 shares during the last quarter. Morgan Stanley raised its holdings in shares of Prudential by 7.7% during the 4th quarter. Morgan Stanley now owns 2,242,746 shares of the financial services provider’s stock valued at $61,631,000 after buying an additional 160,270 shares in the last quarter. Royal Bank of Canada boosted its stake in Prudential by 2.8% in the third quarter. Royal Bank of Canada now owns 2,104,380 shares of the financial services provider’s stock worth $46,129,000 after buying an additional 58,097 shares in the last quarter. FMR LLC lifted its holdings in shares of Prudential by 1.3% in the 1st quarter. FMR LLC now owns 1,904,371 shares of the financial services provider’s stock worth $52,066,000 after acquiring an additional 23,835 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Prudential by 9.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,819,545 shares of the financial services provider’s stock valued at $51,530,000 after purchasing an additional 162,986 shares in the last quarter. Hedge funds and other institutional investors own 1.90% of the company’s stock.
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 non- participating savings products, such as protection and investment-linked products. The company also provides insurance against common critical illnesses; property and casualty; and tropical disease protection, such as dengue, malaria, and measles.
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