Prudential (NYSE:PUK) Shares Gap Up – Should You Buy?

Prudential plc (NYSE:PUK) shares gapped up prior to trading on Friday . The stock had previously closed at $15.28, but opened at $15.87. Prudential shares last traded at $15.95, with a volume of 120,569 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PUK shares. Barclays upgraded Prudential to a “strong-buy” rating in a research report on Tuesday, October 15th. StockNews.com downgraded Prudential from a “hold” rating to a “sell” rating in a report on Monday, November 25th.

Prudential Trading Up 4.0 %

The firm’s 50 day moving average price is $16.03 and its two-hundred day moving average price is $16.96.

Hedge Funds Weigh In On Prudential

A number of hedge funds and other institutional investors have recently bought and sold shares of PUK. Choreo LLC purchased a new position in Prudential in the second quarter worth $228,000. American Century Companies Inc. increased its holdings in shares of Prudential by 12.5% in the 2nd quarter. American Century Companies Inc. now owns 184,983 shares of the financial services provider’s stock valued at $3,389,000 after purchasing an additional 20,516 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Prudential by 8.5% in the second quarter. Envestnet Asset Management Inc. now owns 918,639 shares of the financial services provider’s stock valued at $16,829,000 after purchasing an additional 72,093 shares during the period. Wealth Alliance boosted its holdings in Prudential by 67.9% during the second quarter. Wealth Alliance now owns 22,318 shares of the financial services provider’s stock worth $409,000 after buying an additional 9,024 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in Prudential by 23.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 16,753 shares of the financial services provider’s stock worth $307,000 after buying an additional 3,142 shares during the period. 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.