Prudential (NYSE:PUK) Shares Up 3.2% – Time to Buy?

Prudential plc (NYSE:PUK) shares rose 3.2% on Thursday . The company traded as high as $20.69 and last traded at $20.66. Approximately 623,733 shares changed hands during trading, a decline of 39% from the average daily volume of 1,018,118 shares. The stock had previously closed at $20.01.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Prudential from a “hold” rating to a “sell” rating in a research note on Friday, March 14th.

Prudential Trading Up 3.8 %

The business’s fifty day moving average price is $17.50 and its two-hundred day moving average price is $17.00. The firm has a market cap of $27.32 billion, a P/E ratio of 8.94, a P/E/G ratio of 0.41 and a beta of 1.21.

Hedge Funds Weigh In On Prudential

Several institutional investors have recently bought and sold shares of PUK. Smartleaf Asset Management LLC boosted its stake in shares of Prudential by 417.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,497 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Prudential in the 4th quarter valued at approximately $30,000. Advisors Preferred LLC acquired a new stake in Prudential in the 4th quarter worth approximately $31,000. GAMMA Investing LLC boosted its position in Prudential by 95.8% during the fourth quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,127 shares during the period. Finally, National Bank of Canada FI grew its holdings in Prudential by 52.6% during the fourth quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,049 shares during the last quarter. 1.90% of the stock is currently owned by 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.