Allspring Global Investments Holdings LLC Takes $272,000 Position in Prudential Public Limited Company (NYSE:PUK)

Allspring Global Investments Holdings LLC acquired a new stake in Prudential Public Limited Company (NYSE:PUK) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 12,535 shares of the financial services provider’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its holdings in Prudential Public by 26.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 138,958 shares of the financial services provider’s stock valued at $2,988,000 after acquiring an additional 28,804 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Prudential Public in the 1st quarter valued at $216,000. QRG Capital Management Inc. acquired a new position in Prudential Public in the 1st quarter valued at $369,000. Janney Montgomery Scott LLC acquired a new position in Prudential Public in the 1st quarter valued at $201,000. Finally, GAMMA Investing LLC raised its holdings in Prudential Public by 182.6% in the 1st quarter. GAMMA Investing LLC now owns 6,508 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 4,205 shares in the last quarter. 1.90% of the stock is owned by institutional investors and hedge funds.

Prudential Public Trading Down 1.2%

Shares of PUK opened at $24.73 on Friday. Prudential Public Limited Company has a 52-week low of $14.39 and a 52-week high of $25.58. The business’s fifty day moving average is $23.66 and its 200-day moving average is $20.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market cap of $32.07 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.72 and a beta of 1.03.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays reaffirmed an “overweight” rating on shares of Prudential Public in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft raised Prudential Public from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Wall Street Zen upgraded Prudential Public from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Morgan Stanley reiterated an “overweight” rating on shares of Prudential Public in a research note on Tuesday, May 13th. Finally, Citigroup reiterated a “buy” rating on shares of Prudential Public in a research note on Tuesday, April 1st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Prudential Public Profile

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.