Prudential (NYSE:PUK) Sees Strong Trading Volume – Should You Buy?

Prudential plc (NYSE:PUK) shares saw strong trading volume on Monday . 2,351,409 shares were traded during mid-day trading, an increase of 143% from the previous session’s volume of 965,724 shares.The stock last traded at $16.97 and had previously closed at $16.65.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PUK shares. Deutsche Bank Aktiengesellschaft lowered shares of Prudential from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. StockNews.com raised shares of Prudential from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Barclays raised Prudential to a “strong-buy” rating in a research report on Tuesday, October 15th.

Prudential Stock Performance

The stock’s 50 day simple moving average is $17.37 and its two-hundred day simple moving average is $18.07.

Prudential Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, September 6th were paid a dividend of $0.1368 per share. The ex-dividend date of this dividend was Friday, September 6th.

Institutional Trading of Prudential

Several institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Prudential by 45.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 699 shares during the period. Bruce G. Allen Investments LLC bought a new position in Prudential during the 2nd quarter valued at about $44,000. Russell Investments Group Ltd. boosted its position in Prudential by 98.0% in the first quarter. Russell Investments Group Ltd. now owns 2,712 shares of the financial services provider’s stock valued at $52,000 after buying an additional 1,342 shares in the last quarter. Blue Trust Inc. grew its stake in Prudential by 202.2% during the second quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,806 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Prudential during the first quarter worth approximately $75,000. 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.