Prudential (NYSE:PUK) Cut to “Hold” at Zacks Investment Research

Prudential (NYSE:PUK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, April 6th.

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. “

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Several other equities analysts also recently weighed in on the company. Berenberg Bank downgraded Prudential from a “hold” rating to a “sell” rating in a research note on Thursday, March 29th. ValuEngine downgraded Prudential from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $57.00.

PUK opened at $52.45 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.03 and a current ratio of 0.03. Prudential has a 12 month low of $41.12 and a 12 month high of $55.36.

A number of institutional investors have recently added to or reduced their stakes in PUK. Deutsche Bank AG increased its position in Prudential by 181.1% during the fourth quarter. Deutsche Bank AG now owns 246,877 shares of the financial services provider’s stock worth $12,536,000 after buying an additional 159,039 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of Prudential in the fourth quarter valued at $4,476,000. Parametric Portfolio Associates LLC grew its position in shares of Prudential by 5.8% in the third quarter. Parametric Portfolio Associates LLC now owns 1,036,346 shares of the financial services provider’s stock valued at $49,651,000 after purchasing an additional 56,663 shares during the period. Bank of New York Mellon Corp grew its position in shares of Prudential by 15.0% in the fourth quarter. Bank of New York Mellon Corp now owns 365,497 shares of the financial services provider’s stock valued at $18,559,000 after purchasing an additional 47,598 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Prudential by 207.0% in the fourth quarter. SG Americas Securities LLC now owns 50,854 shares of the financial services provider’s stock valued at $2,582,000 after purchasing an additional 34,291 shares during the period. 1.57% of the stock is owned by institutional investors.

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About Prudential

Prudential plc, together with its subsidiaries, provides a range of retail financial products and services, and asset management services in Asia, the United States, the United Kingdom, Europe, and Africa. The company offers health and protection, as well as other life insurance products, including participating business and mutual funds; and personal lines property and casualty insurance, group insurance, and institutional fund management services.

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