Prudential (NYSE:PUK) Upgraded by StockNews.com to “Hold” Rating

Prudential (NYSE:PUK) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Prudential Stock Performance

NYSE PUK opened at $20.68 on Friday. Prudential has a one year low of $14.39 and a one year high of $21.10. The stock has a 50-day moving average of $17.73 and a 200 day moving average of $17.05. The company has a market capitalization of $27.20 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 0.41 and a beta of 1.21.

Institutional Investors Weigh In On Prudential

Several institutional investors and hedge funds have recently added to or reduced their stakes in PUK. Northern Trust Corp lifted its holdings in shares of Prudential by 2.0% during the 4th quarter. Northern Trust Corp now owns 1,733,772 shares of the financial services provider’s stock valued at $27,636,000 after buying an additional 34,344 shares during the period. Bank of Montreal Can increased its position in Prudential by 165.3% during the fourth quarter. Bank of Montreal Can now owns 1,554,255 shares of the financial services provider’s stock valued at $24,775,000 after acquiring an additional 968,317 shares during the last quarter. JPMorgan Chase & Co. increased its position in Prudential by 321.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,236,697 shares of the financial services provider’s stock valued at $19,713,000 after acquiring an additional 943,487 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Prudential by 1,133.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,051,231 shares of the financial services provider’s stock valued at $16,757,000 after acquiring an additional 965,985 shares during the period. Finally, ABC Arbitrage SA purchased a new position in Prudential in the fourth quarter worth about $16,207,000. 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.