Prudential (NYSE:PUK) Shares Gap Up – Time to Buy?

Prudential plc (NYSE:PUK) gapped up prior to trading on Friday . The stock had previously closed at $15.85, but opened at $16.27. Prudential shares last traded at $16.19, with a volume of 153,400 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com upgraded Prudential from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft downgraded shares of Prudential from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Barclays upgraded shares of Prudential to a “strong-buy” rating in a research report on Tuesday, October 15th.

Prudential Trading Up 1.8 %

The stock has a fifty day simple moving average of $17.16 and a two-hundred day simple moving average of $17.94.

Prudential Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, September 6th were issued a $0.1368 dividend. The ex-dividend date was Friday, September 6th.

Institutional Investors Weigh In On Prudential

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its position in shares of Prudential by 45.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock valued at $40,000 after buying an additional 699 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in Prudential during the 2nd quarter worth $44,000. Blue Trust Inc. grew its stake in shares of Prudential by 202.2% in the 2nd quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 1,806 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Prudential by 98.0% in the first quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,342 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Prudential during the first quarter valued at about $75,000. Institutional investors and hedge funds own 1.90% of the company’s stock.

About Prudential

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.