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

StockNews.com upgraded shares of Prudential (NYSE:PUK) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

Prudential Trading Down 1.4 %

Shares of NYSE:PUK opened at $17.93 on Wednesday. The company has a fifty day simple moving average of $18.97 and a 200 day simple moving average of $20.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.03 and a current ratio of 0.03. Prudential has a 12-month low of $17.12 and a 12-month high of $29.25.

Prudential Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Thursday, May 16th. Stockholders of record on Tuesday, April 2nd were paid a $0.2842 dividend. The ex-dividend date was Monday, April 1st. This is a positive change from Prudential’s previous Semi-Annual dividend of $0.24.

Hedge Funds Weigh In On Prudential

A number of hedge funds have recently bought and sold shares of PUK. Glassman Wealth Services raised its stake in Prudential by 135.7% during the fourth quarter. Glassman Wealth Services now owns 1,183 shares of the financial services provider’s stock valued at $27,000 after buying an additional 681 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Prudential in the 4th quarter valued at approximately $28,000. Russell Investments Group Ltd. raised its position in shares of Prudential by 369.2% during the 4th quarter. Russell Investments Group Ltd. now owns 1,370 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 1,078 shares in the last quarter. National Bank of Canada FI raised its position in shares of Prudential by 198.0% during the 4th quarter. National Bank of Canada FI now owns 2,101 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Prudential during the first quarter worth $75,000. 1.90% of the stock is currently owned by institutional investors and hedge funds.

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.