Prudential (NYSE:PUK) Sets New 12-Month Low at $15.88

Prudential plc (NYSE:PUK)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $15.88 and last traded at $15.91, with a volume of 297127 shares changing hands. The stock had previously closed at $16.27.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BNP Paribas upgraded Prudential from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft cut shares of Prudential from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th.

Prudential Stock Performance

The stock’s 50 day simple moving average is $17.57 and its two-hundred day simple moving average is $18.62. The company has a quick ratio of 0.03, a current ratio of 0.04 and a debt-to-equity ratio of 0.23.

Prudential Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PUK. Principal Securities Inc. acquired a new stake in shares of Prudential in the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. grew its holdings in shares of Prudential by 369.2% in 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 grew its holdings in shares of Prudential by 198.0% in 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. EverSource Wealth Advisors LLC increased its position in shares of Prudential by 45.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 699 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in Prudential during the second quarter worth about $44,000. 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.