Zacks Investment Research upgraded shares of Prudential Public (NYSE:PUK) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday.

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. “

Other analysts have also issued research reports about the company. ValuEngine lowered Prudential Public from a hold rating to a sell rating in a report on Tuesday, August 7th. Evercore ISI assumed coverage on Prudential Public in a report on Tuesday, July 10th. They set an in-line rating for the company. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Prudential Public has a consensus rating of Hold and a consensus target price of $57.00.

Prudential Public stock traded down $0.12 during mid-day trading on Wednesday, reaching $47.21. 2,194 shares of the company were exchanged, compared to its average volume of 179,733. The company has a quick ratio of 0.03, a current ratio of 0.02 and a debt-to-equity ratio of 0.40. The firm has a market cap of $61.17 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.33 and a beta of 1.48. Prudential Public has a 12-month low of $43.12 and a 12-month high of $55.36.

The firm also recently disclosed a semiannual dividend, which will be paid on Thursday, October 4th. Stockholders of record on Friday, August 24th will be issued a dividend of $0.1567 per share. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a dividend yield of 0.67%. Prudential Public’s dividend payout ratio is presently 21.66%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp lifted its holdings in shares of Prudential Public by 8.0% during the 2nd quarter. Northern Trust Corp now owns 1,795,862 shares of the financial services provider’s stock valued at $82,071,000 after purchasing an additional 133,385 shares during the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of Prudential Public in the 2nd quarter valued at $246,000. Sterling Capital Management LLC increased its position in shares of Prudential Public by 42.6% in the 2nd quarter. Sterling Capital Management LLC now owns 6,115 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 1,826 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Prudential Public in the 2nd quarter valued at $223,000. Finally, Bank of America Corp DE increased its position in shares of Prudential Public by 1.2% in the 2nd quarter. Bank of America Corp DE now owns 3,746,861 shares of the financial services provider’s stock valued at $171,232,000 after acquiring an additional 45,264 shares during the period. Hedge funds and other institutional investors own 1.65% of the company’s stock.

Prudential Public Company Profile

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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