Prudential (NYSE:PUK) Hits New 12-Month Low at $20.23

Prudential plc (NYSE:PUKGet Rating)’s stock price hit a new 52-week low on Friday . The company traded as low as $20.23 and last traded at $20.24, with a volume of 19192 shares trading hands. The stock had previously closed at $21.34.

Wall Street Analysts Forecast Growth

PUK has been the topic of a number of analyst reports. Morgan Stanley cut their price target on shares of Prudential from GBX 1,687 ($20.38) to GBX 1,380 ($16.67) in a research report on Wednesday, September 7th. Sanford C. Bernstein began coverage on shares of Prudential in a research report on Thursday, September 15th. They issued an “outperform” rating on the stock. StockNews.com downgraded shares of Prudential from a “hold” rating to a “sell” rating in a report on Monday, September 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Prudential from GBX 1,380 ($16.67) to GBX 1,450 ($17.52) in a report on Friday. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Prudential presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,505.00.

Prudential Price Performance

The firm’s 50 day moving average price is $23.01 and its two-hundred day moving average price is $25.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.04 and a current ratio of 0.72.

Prudential Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Tuesday, September 27th. Stockholders of record on Friday, August 19th will be paid a dividend of $0.115 per share. This is a boost from Prudential’s previous Semi-Annual dividend of $0.11. The ex-dividend date is Thursday, August 18th.

Insider Transactions at Prudential

In other news, major shareholder Plc Prudential sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $27.00, for a total transaction of $121,500,000.00. Following the completion of the transaction, the insider now directly owns 7,635,443 shares of the company’s stock, valued at approximately $206,156,961. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Prudential

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ronald Blue Trust Inc. bought a new position in shares of Prudential in the second quarter valued at $34,000. CWM LLC grew its stake in shares of Prudential by 79.9% in the first quarter. CWM LLC now owns 1,506 shares of the financial services provider’s stock valued at $45,000 after buying an additional 669 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Prudential by 45.2% in the first quarter. Parallel Advisors LLC now owns 3,779 shares of the financial services provider’s stock valued at $111,000 after buying an additional 1,177 shares in the last quarter. Zions Bancorporation N.A. grew its stake in shares of Prudential by 41.9% in the first quarter. Zions Bancorporation N.A. now owns 3,963 shares of the financial services provider’s stock valued at $117,000 after buying an additional 1,171 shares in the last quarter. Finally, BNP Paribas Arbitrage SA bought a new position in shares of Prudential in the fourth quarter valued at $137,000. 1.96% of the stock is owned by institutional investors.

About Prudential

(Get Rating)

Prudential plc, through its subsidiaries, provides life and health insurance, and retirement and asset management solutions to individuals in Asia, and Africa. It offers health and protection, as well as savings products, such as participating, linked, and other traditional products. The company also provides insurance against common critical illnesses, including cancer, stroke, and heart attack; and tropical disease protection, such as dengue, malaria, and measles.

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