Barclays Upgrades Prudential (NYSE:PUK) to “Strong-Buy”

Barclays upgraded shares of Prudential (NYSE:PUK) to a strong-buy rating in a research note published on Tuesday morning, Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. BNP Paribas raised shares of Prudential from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 26th. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft lowered Prudential from a “buy” rating to a “hold” rating in a research report on Monday, August 5th.

Prudential Price Performance

PUK opened at $17.31 on Tuesday. Prudential has a fifty-two week low of $15.77 and a fifty-two week high of $23.73. The company’s 50-day moving average is $17.30 and its 200 day moving average is $18.15.

Prudential Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, September 6th will be paid a $0.1368 dividend. The ex-dividend date is Friday, September 6th.

Institutional Investors Weigh In On Prudential

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in Prudential by 98.0% during the 1st quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock valued at $52,000 after buying an additional 1,342 shares in the last quarter. Sei Investments Co. grew its position in Prudential by 8.9% during the 1st quarter. Sei Investments Co. now owns 344,222 shares of the financial services provider’s stock worth $6,633,000 after acquiring an additional 28,124 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Prudential in the first quarter worth $75,000. Goldman Sachs Group Inc. raised its stake in shares of Prudential by 15.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,011,551 shares of the financial services provider’s stock valued at $45,159,000 after acquiring an additional 274,674 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Prudential by 15.0% in the 2nd quarter. Bank of Montreal Can now owns 795,969 shares of the financial services provider’s stock worth $15,418,000 after buying an additional 103,625 shares during the period. 1.90% of the stock is currently owned by institutional investors.

Prudential Company Profile

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.