Prudential (NYSE:PUK) Sets New 1-Year Low – What’s Next?

Prudential plc (NYSE:PUK) hit a new 52-week low on Tuesday . The company traded as low as $15.70 and last traded at $15.72, with a volume of 134229 shares. The stock had previously closed at $16.39.

Analyst Upgrades and Downgrades

PUK has been the topic of several research analyst reports. Barclays raised shares of Prudential to a “strong-buy” rating in a research note on Tuesday, October 15th. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft downgraded Prudential from a “buy” rating to a “hold” rating in a research report on Monday, August 5th.

Prudential Price Performance

The firm’s 50 day moving average price is $17.21 and its 200-day moving average price is $17.97.

Prudential Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, September 6th were paid a $0.1368 dividend. The ex-dividend date of this dividend was Friday, September 6th.

Institutional Trading of Prudential

Several institutional investors and hedge funds have recently made changes to their positions in PUK. EverSource Wealth Advisors LLC grew its stake in shares of Prudential by 45.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 699 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Prudential by 19.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,663 shares of the financial services provider’s stock worth $85,000 after buying an additional 760 shares during the period. Sei Investments Co. increased its stake in shares of Prudential by 0.3% in the 2nd quarter. Sei Investments Co. now owns 345,143 shares of the financial services provider’s stock valued at $6,323,000 after acquiring an additional 921 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Prudential by 98.0% in the 1st quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,342 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Prudential by 202.2% in the 2nd quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,806 shares during the period. Institutional investors own 1.90% of the company’s stock.

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.