Prudential’s (PRU) “Overweight” Rating Reaffirmed at Barclays

Posted by MarketBeat News on May 2nd, 2024

Barclays reaffirmed their overweight rating on shares of Prudential (LON:PRU – Free Report) in a research report released on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a GBX 1,390 ($17.46) target price on the financial services provider’s stock.

Separately, Jefferies Financial Group reissued a buy rating and issued a GBX 1,800 ($22.61) price objective on shares of Prudential in a research note on Wednesday, March 20th.

Check Out Our Latest Stock Report on Prudential

Prudential Stock Performance

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Shares of LON PRU opened at GBX 720.20 ($9.05) on Wednesday. The firm has a fifty day moving average price of GBX 753.19 and a 200-day moving average price of GBX 820.37. The company has a debt-to-equity ratio of 31.08, a current ratio of 2.02 and a quick ratio of 0.67. The stock has a market cap of £19.81 billion, a PE ratio of 1,438.78, a price-to-earnings-growth ratio of 0.40 and a beta of 1.26. Prudential has a 1 year low of GBX 684.73 ($8.60) and a 1 year high of GBX 1,215.50 ($15.27).

Prudential Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, March 28th will be paid a dividend of $0.14 per share. This represents a yield of 1.43%. This is a boost from Prudential’s previous dividend of $0.06. The ex-dividend date is Thursday, March 28th. Prudential’s dividend payout ratio (DPR) is presently 3,265.31%.

Insider Activity at Prudential

In related news, insider Anil Wadhwani bought 57,435 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was bought at an average cost of GBX 753 ($9.46) per share, with a total value of £432,485.55 ($543,255.31). 0.43% of the stock is currently owned by corporate insiders.

Prudential Company Profile

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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.