Prudential (NYSE:PUK) Shares Gap Down – Time to Sell?

Shares of Prudential plc (NYSE:PUK) gapped down before the market opened on Monday . The stock had previously closed at $17.64, but opened at $17.24. Prudential shares last traded at $17.29, with a volume of 91,055 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PUK shares. BNP Paribas raised shares of Prudential from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Prudential from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. StockNews.com raised 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 firm’s fifty day moving average is $17.37 and its 200 day moving average is $18.12.

Prudential Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, September 6th will be issued a dividend of $0.1368 per share. The ex-dividend date is Friday, September 6th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PUK. EverSource Wealth Advisors LLC lifted its holdings in shares of Prudential by 45.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,222 shares of the financial services provider’s stock valued at $40,000 after buying an additional 699 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Prudential by 19.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,663 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 760 shares during the last quarter. Sei Investments Co. lifted its stake in Prudential by 0.3% in the second quarter. Sei Investments Co. now owns 345,143 shares of the financial services provider’s stock valued at $6,323,000 after acquiring an additional 921 shares during the last quarter. Russell Investments Group Ltd. grew 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 worth $52,000 after acquiring an additional 1,342 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Prudential by 202.2% during the 2nd quarter. Blue Trust Inc. now owns 2,699 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,806 shares during the last quarter. Hedge funds and other institutional investors own 1.90% of the company’s stock.

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.