Prudential (NYSE:PUK) Shares Gap Down to $17.41

Prudential plc (NYSE:PUK) gapped down prior to trading on Friday . The stock had previously closed at $17.41, but opened at $16.96. Prudential shares last traded at $16.91, with a volume of 49,110 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. BNP Paribas raised shares of Prudential from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 26th. StockNews.com raised shares of Prudential from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Prudential from a “buy” rating to a “hold” rating in a research note on Monday, August 5th.

Prudential Stock Down 3.8 %

The company has a market cap of $23.03 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 0.46 and a beta of 1.22. The stock has a 50-day simple moving average of $17.23 and a 200-day simple moving average of $18.42. The company has a current ratio of 0.04, a quick ratio of 0.03 and a debt-to-equity ratio of 0.23.

Prudential Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, September 6th will be issued a $0.1368 dividend. The ex-dividend date is Friday, September 6th. Prudential’s payout ratio is currently 12.50%.

Hedge Funds Weigh In On Prudential

Several large investors have recently bought and sold shares of PUK. Beacon Pointe Advisors LLC increased its position in shares of Prudential by 5.1% during the 4th quarter. Beacon Pointe Advisors LLC now owns 10,031 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 483 shares during the period. EverSource Wealth Advisors LLC raised its position in Prudential by 45.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 699 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Prudential by 19.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,663 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 760 shares in the last quarter. Sei Investments Co. lifted its holdings in 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. Finally, Russell Investments Group Ltd. boosted its position in shares of Prudential by 369.2% during the 4th quarter. Russell Investments Group Ltd. now owns 1,370 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 1,078 shares in the last quarter. Institutional investors and hedge funds 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.