Prudential (NYSE:PUK) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Prudential (NYSE:PUK) from a hold rating to a buy rating in a research report sent to investors on Friday, Marketbeat.com reports.

A number of other research firms also recently commented on PUK. Citigroup reissued a “buy” rating on shares of Prudential in a research report on Tuesday, April 1st. Barclays reaffirmed an “overweight” rating on shares of Prudential in a report on Thursday, May 22nd. Morgan Stanley restated an “overweight” rating on shares of Prudential in a research report on Tuesday, May 13th. Finally, Wall Street Zen raised shares of Prudential from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

Prudential Price Performance

NYSE:PUK opened at $23.74 on Friday. The business’s fifty day moving average price is $21.58 and its 200 day moving average price is $18.85. The firm has a market capitalization of $30.91 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 0.41 and a beta of 1.02. Prudential has a 12 month low of $14.39 and a 12 month high of $23.77.

Prudential Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, May 14th. Shareholders of record on Friday, March 28th were issued a $0.3258 dividend. The ex-dividend date was Friday, March 28th. This is a boost from Prudential’s previous dividend of $0.24. Prudential’s dividend payout ratio (DPR) is 28.02%.

Institutional Investors Weigh In On Prudential

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Preferred LLC acquired a new position in shares of Prudential during the 4th quarter worth approximately $31,000. Entropy Technologies LP acquired a new position in shares of Prudential in the fourth quarter worth $188,000. ABC Arbitrage SA acquired a new position in shares of Prudential in the fourth quarter worth $16,207,000. Whipplewood Advisors LLC purchased a new stake in shares of Prudential in the fourth quarter valued at $30,000. Finally, US Bancorp DE boosted its stake in shares of Prudential by 69.1% during the fourth quarter. US Bancorp DE now owns 15,588 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 6,368 shares during the last quarter. 1.90% of the stock is currently owned by hedge funds and other institutional investors.

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.