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

Shares of Prudential plc (NYSE:PUK) 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

PUK has been the subject of a number of recent analyst reports. StockNews.com raised Prudential from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Barclays raised Prudential to a “strong-buy” rating in a research note on Tuesday, October 15th.

Prudential Price Performance

The company has a 50-day moving average of $16.10 and a 200-day moving average of $16.68.

Hedge Funds Weigh In On Prudential

Several institutional investors and hedge funds have recently modified their holdings of PUK. Smartleaf Asset Management LLC boosted its position in Prudential by 417.0% during the 4th 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 stake in Prudential in the 4th quarter valued at $30,000. Advisors Preferred LLC bought a new position in Prudential during the 4th quarter worth $31,000. GAMMA Investing LLC increased its position in Prudential by 95.8% during the 4th quarter. GAMMA Investing LLC now owns 2,303 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,127 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Prudential by 51.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,057 shares of the financial services provider’s stock worth $131,000 after buying an additional 2,394 shares during the period. 1.90% of the stock is currently 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.