Prudential (LON:PRU) Hits New 1-Year High – Here’s What Happened

Prudential plc (LON:PRU)’s share price reached a new 52-week high on Wednesday . The stock traded as high as GBX 843.40 ($10.92) and last traded at GBX 838.20 ($10.85), with a volume of 1221769000 shares traded. The stock had previously closed at GBX 827 ($10.71).

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 950 ($12.30) price target on shares of Prudential in a research report on Thursday, March 20th. Bank of America reissued a “buy” rating and set a GBX 1,000 ($12.95) price objective on shares of Prudential in a report on Thursday, March 20th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Prudential presently has an average rating of “Buy” and an average target price of GBX 1,188 ($15.38).

Prudential Stock Performance

The company has a market capitalization of £27.58 billion, a P/E ratio of 41.87, a P/E/G ratio of 0.40 and a beta of 1.20. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 24.44. The company’s fifty day moving average is GBX 711.42 and its 200 day moving average is GBX 669.20.

Prudential Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Thursday, March 27th will be given a $0.16 dividend. The ex-dividend date is Thursday, March 27th. This is a boost from Prudential’s previous dividend of $0.07. This represents a dividend yield of 1.58%. Prudential’s payout ratio is 84.92%.

Prudential Company Profile

Prudential plc provides life and health insurance and asset management in 24 markets across Asia and Africa. Prudential’s mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU).