Zacks Investment Research cut shares of Prudential Public (NYSE:PUK) from a buy rating to a hold rating in a research report report published on Saturday morning.
According to Zacks, “PRUDENTIAL PLC provides retail financial products and services and fund management to many millions of customers worldwide. Their commitment to the shareholders who own Prudential is to maximise the value over time of their investment. They do this by investing for the long term to develop and bring out the best in their people and their businesses to produce superior products and services, and hence superior financial returns. Their aim is to deliver top quartile performance among their international peer group in terms of total shareholder returns. “
PUK has been the topic of a number of other reports. Berenberg Bank cut shares of Prudential Public from a hold rating to a sell rating in a research note on Thursday. ValuEngine cut shares of Prudential Public from a strong-buy rating to a buy rating in a research note on Saturday, December 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $57.00.
The business also recently announced a semiannual dividend, which will be paid on Friday, May 25th. Shareholders of record on Tuesday, April 3rd will be paid a $0.9068 dividend. This represents a yield of 3.4%. This is a boost from Prudential Public’s previous semiannual dividend of $0.38. The ex-dividend date of this dividend is Monday, April 2nd. Prudential Public’s payout ratio is presently 20.86%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Private Wealth LLC purchased a new position in Prudential Public in the third quarter valued at about $201,000. Rathbone Brothers plc purchased a new stake in shares of Prudential Public during the 4th quarter valued at approximately $207,000. Lake Street Advisors Group LLC purchased a new stake in shares of Prudential Public during the 4th quarter valued at approximately $243,000. River Road Asset Management LLC purchased a new stake in shares of Prudential Public during the 4th quarter valued at approximately $299,000. Finally, Capital Fund Management S.A. purchased a new stake in shares of Prudential Public during the 4th quarter valued at approximately $330,000. Hedge funds and other institutional investors own 1.57% of the company’s stock.
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About Prudential Public
Prudential Public Limited Company is an international financial services company. The Company offers a range of retail financial products and services and asset management services throughout these territories. The Company operates through Insurance operations and Asset management operations. The retail financial products and services include life insurance, pensions and annuities as well as collective investment schemes.
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