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

Prudential plc (NYSE:PUK)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $20.22, but opened at $20.93. Prudential shares last traded at $21.08, with a volume of 139,057 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PUK. Citigroup reiterated a “buy” rating on shares of Prudential in a research note on Tuesday, April 1st. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research report on Saturday, March 22nd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Prudential Stock Performance

The stock has a 50-day simple moving average of $19.55 and a two-hundred day simple moving average of $17.54. The firm has a market cap of $27.23 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 0.41 and a beta of 1.00.

Prudential Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.3258 per share. This is a boost from Prudential’s previous dividend of $0.24. The ex-dividend date of this dividend is Friday, March 28th. Prudential’s payout ratio is presently 28.02%.

Institutional Investors Weigh In On Prudential

Large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its stake in shares of Prudential by 417.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,497 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in Prudential in the fourth quarter worth about $30,000. Advisors Preferred LLC bought a new stake in shares of Prudential during the 4th quarter valued at about $31,000. GAMMA Investing LLC increased its position in shares of Prudential by 95.8% during the 4th quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,127 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Prudential by 52.6% in the 4th quarter. National Bank of Canada FI now owns 3,042 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,049 shares during the period. Institutional investors 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.