Prudential (NYSE:PUK) Upgraded by StockNews.com to Hold Rating

Prudential (NYSE:PUK) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

Separately, Barclays raised Prudential to a “strong-buy” rating in a report on Tuesday, October 15th.

Prudential Price Performance

Shares of PUK opened at $16.11 on Wednesday. The firm has a market capitalization of $21.40 billion, a PE ratio of 6.94, a price-to-earnings-growth ratio of 0.35 and a beta of 1.20. Prudential has a 1-year low of $14.39 and a 1-year high of $22.07. The company’s fifty day moving average price is $15.98 and its 200-day moving average price is $16.87.

Institutional Trading of Prudential

A number of hedge funds and other institutional investors have recently made changes to their positions in PUK. GAMMA Investing LLC lifted its position in Prudential by 95.8% during the fourth quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,127 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Prudential by 45.9% in the 2nd 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 period. Allspring Global Investments Holdings LLC boosted its stake in shares of Prudential by 51.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,057 shares of the financial services provider’s stock worth $131,000 after buying an additional 2,394 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Prudential by 43.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,254 shares of the financial services provider’s stock worth $151,000 after buying an additional 2,507 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new position in Prudential during the fourth quarter valued at approximately $163,000. 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.