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JPMorgan Chase & Co. Increases Its Price Target for Prudential (NYSE:PUK) to GBX 1,500.

by Yasmim Mendonça
December 9, 2022
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In a research note distributed to investors on Thursday, equity analysts at JPMorgan Chase & Co. increased Prudential’s price objective from GBX 1,450 ($17.68) to GBX 1,500 ($18.29).

Other equity research experts have also contributed their thoughts on the company. Morgan Stanley lowered its target price for Prudential from GBX 1,687 ($20.57) to GBX 1,380 ($16.83) in a research report released on September 7th. Societe Generale lowered their price target on Prudential from GBX 1,350 ($16.46) to GBX 1,220 ($14.88) in a research note released on November 10th. On November 22, Barclays raised their price target for Prudential from GBX 1,576 ($19.22) to GBX 1,585 ($19.33) in a research report. Sanford C. Bernstein began covering Prudential in a research note on September 15. They rated the business as “outperform.” Prudential was downgraded from a “hold” rating to a “sell” by StockNews.com in a research review that was published on Friday, November 11.
At noon on Thursday, the price of NYSE:PUK was $0.25 higher at $25.93. The number of shares exchanged was 18,983 as opposed to the usual 709,483 shares. The 50-day and 200-day moving averages of the company’s stock are $21.54 and $22.93, respectively. Prudential’s low and high prices for the preceding year were $18.20 and $36.84, respectively.
The percentage of PUK that different hedge funds now own has changed recently. Ronald Blue Trust Inc. bought more Prudential shares during the second quarter for a total transaction of close to $34,000. Tower Research Capital LLC (TRC) grew its stake in Prudential by 292.1% during the third quarter. During the most recent quarter, Capital Tower Research LLC (TRC) purchased an additional 2,822 shares of the financial services company’s stock, bringing its total stock acquisitions to 3,788 shares, valued at $75,000, from the market. EverSource Wealth Advisors LLC boosted its ownership of Prudential by 15.5% during the third quarter. EverSource Wealth Advisors LLC now directly owns 4,390 shares of the business, valued at $87,000, after acquiring an additional 590 shares during the most recent quarter. Zions Bancorporation N.A.’s results during the second quarter were erratic. grew its ownership of Prudential by 12.5%. Zions Bancorporation N.A. increased its stake in the company by 494 shares during the most recent quarter. owns 4,457 shares with a value of $112,000.00, representing 4,457 shares of the financial services provider’s stock. IFP Advisors Inc. boosted its stake in Prudential by 21.8% during the third quarter. IFP Advisors Inc. now owns 7,667 more shares of the company’s stock than it did three months ago, for a total of 4,278 shares, worth $119,000. Institutional investors and hedge funds own 1.96% of the company’s stock.

Through its subsidiaries, Prudential plc provides clients throughout Asia and Africa with life and health insurance, as well as retirement and asset management alternatives. It offers health and protection in addition to traditional savings products like participation, linked, and others. The business also provides coverage for common critical illnesses like cancer, stroke, and heart attack, as well as prevalent tropical diseases like measles, dengue fever, and malaria.

Tags: PUK, Analyst Rating
Yasmim Mendonça

Yasmim Mendonça

Yasmine's focus is on uncovering early-stage ideas with the potential to have a lasting impact. Her educational background includes a bachelor's degree in finance, an MBA, and two tests completed - the CFA and CMT.

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