HSBC Reaffirms “Buy” Rating for Prudential (LON:PRU)

HSBC reaffirmed their buy rating on shares of Prudential (LON:PRU) in a research note released on Wednesday, May 9th. HSBC currently has a GBX 2,280 ($30.93) price objective on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase lifted their price target on shares of Prudential from GBX 1,800 ($24.42) to GBX 1,899 ($25.76) and gave the company a neutral rating in a research note on Wednesday, March 14th. Citigroup set a GBX 2,186 ($29.65) target price on shares of Prudential and gave the stock a buy rating in a research report on Friday, January 12th. UBS set a GBX 2,400 ($32.56) target price on shares of Prudential and gave the stock a buy rating in a research report on Thursday, March 15th. Credit Suisse Group set a GBX 2,180 ($29.57) target price on shares of Prudential and gave the stock a buy rating in a research report on Wednesday, January 17th. Finally, Barclays boosted their price target on shares of Prudential from GBX 2,161 ($29.31) to GBX 2,202 ($29.87) and gave the stock an overweight rating in a report on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Prudential presently has a consensus rating of Buy and an average target price of GBX 2,127.90 ($28.86).

Shares of Prudential opened at GBX 1,934 ($26.23) on Wednesday, Marketbeat Ratings reports. Prudential has a fifty-two week low of GBX 1,612.14 ($21.87) and a fifty-two week high of GBX 1,992.50 ($27.03).

Prudential (LON:PRU) last announced its earnings results on Wednesday, March 14th. The financial services provider reported GBX 145.20 ($1.97) earnings per share for the quarter, topping analysts’ consensus estimates of GBX 139 ($1.89) by GBX 6.20 ($0.08). Prudential had a net margin of 3.50% and a return on equity of 19.94%. The business had revenue of GBX 4,400.50 billion during the quarter.

The company also recently announced a dividend, which was paid on Friday, May 18th. Investors of record on Thursday, March 29th were issued a dividend of GBX 32.50 ($0.44) per share. This represents a yield of 1.7%. The ex-dividend date of this dividend was Thursday, March 29th. This is a positive change from Prudential’s previous dividend of $14.50.

In other news, insider John W. Foley sold 81,468 shares of the stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of GBX 1,747 ($23.70), for a total value of £1,423,245.96 ($1,930,610.36). Insiders bought a total of 30 shares of company stock worth $54,950 in the last three months.

Prudential Company Profile

Prudential plc, together with its subsidiaries, provides a range of retail financial products and services, and asset management services in Asia, the United States, the United Kingdom, Europe, and Africa. The company offers health and protection, as well as other life insurance products, including participating business and mutual funds; and personal lines property and casualty insurance, group insurance, and institutional fund management services.

Analyst Recommendations for Prudential (LON:PRU)

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