Prudential (NYSE:PUK) Shares Gap Up – Time to Buy?

Prudential plc (NYSE:PUK)’s share price gapped up prior to trading on Friday . The stock had previously closed at $15.85, but opened at $16.27. Prudential shares last traded at $16.19, with a volume of 153,400 shares changing hands.

Analyst Upgrades and Downgrades

PUK has been the subject of several research reports. Barclays upgraded shares of Prudential to a “strong-buy” rating in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Prudential from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, StockNews.com upgraded Prudential from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th.

Prudential Trading Up 1.8 %

The company has a fifty day moving average of $17.16 and a two-hundred day moving average of $17.92.

Prudential Cuts Dividend

The company also recently announced 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 was Friday, September 6th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd purchased a new stake in Prudential in the 3rd quarter valued at approximately $19,505,000. StoneX Group Inc. acquired a new stake in shares of Prudential in the 3rd quarter valued at approximately $5,090,000. Natixis Advisors LLC boosted its stake in shares of Prudential by 35.9% in the second quarter. Natixis Advisors LLC now owns 593,789 shares of the financial services provider’s stock valued at $10,878,000 after buying an additional 156,708 shares in the last quarter. Marshall Wace LLP grew its holdings in Prudential by 13.5% during the second quarter. Marshall Wace LLP now owns 1,076,579 shares of the financial services provider’s stock worth $19,723,000 after acquiring an additional 128,124 shares during the period. Finally, Bank of Montreal Can raised its position in Prudential by 15.0% in the second quarter. Bank of Montreal Can now owns 795,969 shares of the financial services provider’s stock worth $15,418,000 after acquiring an additional 103,625 shares in the last quarter. 1.90% of the stock is owned by hedge funds and other institutional investors.

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.