Prudential (NYSE:PUK) Hits New 12-Month Low – Here’s Why

Shares of Prudential plc (NYSE:PUK) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $15.10 and last traded at $15.17, with a volume of 158487 shares changing hands. The stock had previously closed at $15.73.

Wall Street Analysts Forecast Growth

PUK has been the topic of a number of research reports. StockNews.com downgraded Prudential from a “hold” rating to a “sell” rating in a report on Monday, November 25th. Barclays raised shares of Prudential to a “strong-buy” rating in a research report on Tuesday, October 15th.

Prudential Price Performance

The firm has a 50-day simple moving average of $16.19 and a 200 day simple moving average of $17.09. The company has a market capitalization of $19.56 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 0.46 and a beta of 1.20.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Marshall Wace LLP increased its stake in Prudential by 13.5% during the 2nd quarter. Marshall Wace LLP now owns 1,076,579 shares of the financial services provider’s stock worth $19,723,000 after buying an additional 128,124 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of Prudential during the third quarter worth about $19,505,000. Envestnet Asset Management Inc. lifted its stake in shares of Prudential by 8.5% in the second quarter. Envestnet Asset Management Inc. now owns 918,639 shares of the financial services provider’s stock worth $16,829,000 after acquiring an additional 72,093 shares in the last quarter. Bank of Montreal Can raised its position in shares of Prudential by 15.0% in 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 in the last quarter. Finally, Natixis Advisors LLC boosted its stake in Prudential by 5.0% during the 3rd quarter. Natixis Advisors LLC now owns 623,461 shares of the financial services provider’s stock valued at $11,559,000 after acquiring an additional 29,672 shares during the last quarter. 1.90% of the stock is owned by institutional investors and hedge funds.

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.