Prudential Public (NYSE:PUK) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Prudential Public (NYSE:PUK) from a hold rating to a sell rating in a report released on Wednesday, Zacks.com reports.

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. “

Separately, Citigroup raised shares of Prudential Public from a neutral rating to a buy rating in a research report on Monday, June 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Prudential Public has an average rating of Hold.

Shares of PUK opened at $36.29 on Wednesday. Prudential Public has a 1-year low of $31.84 and a 1-year high of $47.63. The company has a 50-day moving average of $35.57 and a 200 day moving average of $40.99. The firm has a market capitalization of $47.60 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 1.03 and a beta of 1.47. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.42 and a quick ratio of 0.04.

The firm also recently announced a dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, August 23rd will be given a dividend of $0.397 per share. This is an increase from Prudential Public’s previous dividend of $0.34. The ex-dividend date of this dividend is Thursday, August 22nd. Prudential Public’s dividend payout ratio (DPR) is 15.99%.

A number of hedge funds and other institutional investors have recently bought and sold shares of PUK. Lazard Asset Management LLC grew its position in shares of Prudential Public by 344.5% in the 1st quarter. Lazard Asset Management LLC now owns 4,836,725 shares of the financial services provider’s stock worth $194,532,000 after buying an additional 3,748,484 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Prudential Public by 30.0% in the 2nd quarter. Renaissance Technologies LLC now owns 648,000 shares of the financial services provider’s stock worth $28,395,000 after buying an additional 149,600 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Prudential Public by 9.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 1,277,063 shares of the financial services provider’s stock worth $51,363,000 after buying an additional 114,028 shares during the last quarter. Jane Street Group LLC grew its position in shares of Prudential Public by 48.9% in the 2nd quarter. Jane Street Group LLC now owns 338,442 shares of the financial services provider’s stock worth $14,831,000 after buying an additional 111,171 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Prudential Public in the 2nd quarter worth approximately $3,740,000. 1.98% of the stock is currently owned by institutional investors and hedge funds.

Prudential Public Company Profile

Prudential plc, through 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; mutual funds; and personal lines property and casualty insurance, group insurance, and institutional fund management services.

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