Zacks Investment Research cut shares of Prudential Public (NYSE:PUK) from a hold rating to a sell rating in a research report report published on Friday.
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. “
Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of Prudential Public from a hold rating to a sell rating in a research report on Tuesday, August 7th. Evercore ISI began coverage on shares of Prudential Public in a research report on Tuesday, July 10th. They set an in-line rating on the stock. Finally, Deutsche Bank reiterated a buy rating on shares of Prudential Public in a research report on Tuesday, October 2nd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $57.00.
The firm also recently disclosed a semiannual dividend, which was paid on Thursday, October 4th. Investors of record on Friday, August 24th were issued a $0.1567 dividend. The ex-dividend date was Thursday, August 23rd. This represents a yield of 0.67%. Prudential Public’s dividend payout ratio is currently 21.93%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stevens Capital Management LP acquired a new position in Prudential Public in the second quarter valued at approximately $334,000. Oppenheimer Asset Management Inc. lifted its holdings in Prudential Public by 35.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 52,250 shares of the financial services provider’s stock valued at $2,389,000 after buying an additional 13,623 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Prudential Public in the second quarter valued at approximately $223,000. Canada Pension Plan Investment Board acquired a new position in Prudential Public in the second quarter valued at approximately $1,828,000. Finally, Ballentine Partners LLC acquired a new position in Prudential Public in the second quarter valued at approximately $206,000. Institutional investors and hedge funds own 1.64% of the company’s stock.
About Prudential Public
Prudential plc, together with its subsidiaries, provides a range of retail financial products and services, and asset management services in Asia, the United States, the United Kingdom, Europe, and Africa. The company offers health and protection, as well as other life insurance products, including participating business and mutual funds; and personal lines property and casualty insurance, group insurance, and institutional fund management services.
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