Prudential (NYSE:PUK) Stock Rating Lowered by StockNews.com

Prudential (NYSE:PUK) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

Several other analysts have also recently issued reports on PUK. Barclays upgraded shares of Prudential to a “strong-buy” rating in a research note on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lowered shares of Prudential from a “buy” rating to a “hold” rating in a report on Monday, August 5th.

Prudential Stock Performance

NYSE PUK traded up $0.44 on Monday, hitting $16.37. The stock had a trading volume of 1,171,424 shares, compared to its average volume of 993,943. Prudential has a 52-week low of $15.10 and a 52-week high of $23.13. The firm has a 50-day moving average of $17.12 and a 200-day moving average of $17.79.

Hedge Funds Weigh In On Prudential

Several institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP grew its holdings in shares of Prudential by 13.5% during the 2nd quarter. Marshall Wace LLP now owns 1,076,579 shares of the financial services provider’s stock valued at $19,723,000 after purchasing an additional 128,124 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Prudential during the 3rd quarter valued at $19,505,000. Envestnet Asset Management Inc. grew its holdings in shares of Prudential by 8.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 918,639 shares of the financial services provider’s stock valued at $16,829,000 after purchasing an additional 72,093 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Prudential by 15.0% during the 2nd quarter. Bank of Montreal Can now owns 795,969 shares of the financial services provider’s stock valued at $15,418,000 after purchasing an additional 103,625 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Prudential by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 762,032 shares of the financial services provider’s stock valued at $13,960,000 after purchasing an additional 4,082 shares during the last quarter. 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.