Prudential (NYSE:PUK) Shares Gap Up – Here’s What Happened

Prudential plc (NYSE:PUK)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $17.05, but opened at $18.20. Prudential shares last traded at $18.15, with a volume of 614,856 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PUK shares. Barclays raised Prudential to a “strong-buy” rating in a research note on Tuesday, October 15th. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd.

Prudential Stock Performance

The stock has a 50 day moving average price of $16.10 and a 200 day moving average price of $16.68.

Institutional Trading of Prudential

A number of hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of Prudential by 417.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,856 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,497 shares during the last quarter. Whipplewood Advisors LLC bought a new position in shares of Prudential during the fourth quarter worth about $30,000. Advisors Preferred LLC bought a new position in shares of Prudential during the fourth quarter worth about $31,000. GAMMA Investing LLC raised its position in shares of Prudential by 95.8% during the fourth quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,127 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Prudential by 51.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,057 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 2,394 shares during the last quarter. 1.90% of the stock is owned by institutional investors and hedge funds.

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.