Prudential (NYSE:PUK) Sets New 12-Month Low – Here’s Why

Prudential plc (NYSE:PUK) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $15.70 and last traded at $15.72, with a volume of 134229 shares. The stock had previously closed at $16.39.

Analyst Upgrades and Downgrades

PUK has been the topic of a number of research reports. Barclays raised shares of Prudential to a “strong-buy” rating in a research note on Tuesday, October 15th. StockNews.com upgraded shares of Prudential from a “sell” rating to a “hold” rating in a report 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 Price Performance

The stock has a 50-day moving average of $17.21 and a 200-day moving average of $17.97.

Prudential Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, September 6th were issued a $0.1368 dividend. The ex-dividend date of this dividend was Friday, September 6th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PUK. EverSource Wealth Advisors LLC increased its position in shares of Prudential by 45.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 699 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Prudential during the 2nd quarter valued at $44,000. Blue Trust Inc. boosted its position in Prudential by 202.2% during the second quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,806 shares during the period. Russell Investments Group Ltd. boosted 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 worth $52,000 after buying an additional 1,342 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Prudential in the first quarter valued at approximately $75,000. 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.