Prudential Public (NYSE:PUK) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Prudential Public (NYSE:PUK) from a hold rating to a sell rating in a research report report published on Wednesday morning, 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 upgraded Prudential Public from a neutral rating to a buy rating in a research note on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Prudential Public has a consensus rating of Hold.

Prudential Public stock opened at $36.29 on Wednesday. The firm has a market capitalization of $47.69 billion, a P/E ratio of 7.35, a PEG ratio of 1.03 and a beta of 1.47. The stock has a fifty day moving average price of $35.57 and a 200 day moving average price of $40.99. Prudential Public has a 52 week low of $31.84 and a 52 week high of $47.63. The company has a current ratio of 0.42, a quick ratio of 0.04 and a debt-to-equity ratio of 0.38.

The business also recently announced a dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, August 23rd will be paid a $0.397 dividend. The ex-dividend date is Thursday, August 22nd. This is a positive change from Prudential Public’s previous dividend of $0.34. Prudential Public’s dividend payout ratio (DPR) is 15.99%.

Several hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC grew its stake in shares of Prudential Public by 344.5% in the first quarter. Lazard Asset Management LLC now owns 4,836,725 shares of the financial services provider’s stock valued at $194,532,000 after buying an additional 3,748,484 shares in the last quarter. Bank of America Corp DE boosted its holdings in Prudential Public by 1.0% in the second quarter. Bank of America Corp DE now owns 3,747,894 shares of the financial services provider’s stock valued at $164,232,000 after purchasing an additional 37,828 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Prudential Public by 3.1% in the second quarter. Parametric Portfolio Associates LLC now owns 1,316,095 shares of the financial services provider’s stock valued at $57,671,000 after purchasing an additional 39,032 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Prudential Public by 3.6% in the first quarter. Wells Fargo & Company MN now owns 947,058 shares of the financial services provider’s stock valued at $38,091,000 after purchasing an additional 33,235 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Prudential Public by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 909,793 shares of the financial services provider’s stock valued at $32,179,000 after purchasing an additional 12,892 shares during the last quarter. Institutional investors and hedge funds own 1.98% of the company’s stock.

About Prudential Public

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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