Prudential (NYSE:PUK) Sees Large Volume Increase – Should You Buy?

Shares of Prudential plc (NYSE:PUK) saw unusually-high trading volume on Monday . Approximately 2,351,409 shares traded hands during trading, an increase of 143% from the previous session’s volume of 965,724 shares.The stock last traded at $16.97 and had previously closed at $16.65.

Analyst Ratings Changes

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

Prudential Stock Performance

The business’s 50 day moving average price is $17.37 and its 200-day moving average price is $18.09.

Prudential Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, September 6th were given a dividend of $0.1368 per share. The ex-dividend date was Friday, September 6th.

Hedge Funds Weigh In On Prudential

Several hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Prudential by 45.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 699 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Prudential during the 2nd quarter valued at approximately $44,000. Russell Investments Group Ltd. grew its holdings in shares of Prudential by 98.0% during the 1st quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,342 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Prudential by 202.2% during the 2nd quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,806 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Prudential during the 1st quarter valued at approximately $75,000. 1.90% of the stock is 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.