Prudential (NYSE:PUK) Shares Gap Up to $16.94

Prudential plc (NYSE:PUK)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $16.94, but opened at $17.37. Prudential shares last traded at $17.26, with a volume of 84,891 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PUK shares. StockNews.com lowered shares of Prudential from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft downgraded shares of Prudential from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, BNP Paribas upgraded shares of Prudential from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 26th.

Prudential Stock Performance

The business’s 50 day moving average price is $17.89 and its 200 day moving average price is $18.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.03 and a current ratio of 0.03.

Institutional Investors Weigh In On Prudential

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Prudential by 43.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,254 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 2,507 shares during the period. Creative Planning lifted its position in shares of Prudential by 96.8% during the 2nd quarter. Creative Planning now owns 70,751 shares of the financial services provider’s stock valued at $1,296,000 after buying an additional 34,799 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Prudential during the 2nd quarter valued at approximately $364,000. Marshall Wace LLP lifted its position 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 buying an additional 128,124 shares in the last quarter. Finally, Bank of Montreal Can lifted its position 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 buying an additional 103,625 shares in the last quarter. Institutional investors and hedge funds own 1.90% of the company’s stock.

Prudential Company Profile

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.