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

Shares of Prudential plc (NYSE:PUK) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $15.10 and last traded at $15.17, with a volume of 158487 shares changing hands. The stock had previously closed at $15.73.

Analyst Ratings Changes

PUK has been the topic of a number of recent analyst reports. Barclays upgraded Prudential to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com downgraded shares of Prudential from a “hold” rating to a “sell” rating in a report on Monday, November 25th.

Prudential Trading Down 3.5 %

The business’s fifty day moving average is $16.25 and its 200 day moving average is $17.12. The company has a market cap of $20.17 billion, a P/E ratio of 7.51, a PEG ratio of 0.46 and a beta of 1.20.

Institutional Investors Weigh In On Prudential

Several large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in Prudential by 15.0% during the second quarter. Bank of Montreal Can now owns 795,969 shares of the financial services provider’s stock worth $15,418,000 after purchasing an additional 103,625 shares during the period. Point72 Asset Management L.P. bought a new position in Prudential in the 3rd quarter worth approximately $1,281,000. Crossmark Global Holdings Inc. boosted its holdings in Prudential by 47.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 110,551 shares of the financial services provider’s stock worth $2,049,000 after buying an additional 35,668 shares during the period. StoneX Group Inc. purchased a new position in Prudential in the 3rd quarter valued at approximately $5,090,000. Finally, HighTower Advisors LLC raised its holdings in Prudential by 98.2% during the 3rd quarter. HighTower Advisors LLC now owns 40,722 shares of the financial services provider’s stock valued at $758,000 after acquiring an additional 20,180 shares during the period. Hedge funds and other institutional investors own 1.90% of the company’s stock.

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.