Prudential (PRU) Stock Rating Reaffirmed by JPMorgan Chase

JPMorgan Chase reaffirmed their neutral rating on shares of Prudential (LON:PRU) in a research report sent to investors on Monday, May 14th, reports. They currently have a GBX 1,899 ($25.76) price target on the financial services provider’s stock, down from their previous price target of GBX 1,899 ($25.76).

A number of other equities research analysts have also issued reports on PRU. Credit Suisse Group set a GBX 2,180 ($29.57) target price on Prudential and gave the company a buy rating in a research note on Wednesday, January 17th. Goldman Sachs set a GBX 2,290 ($31.06) price target on Prudential and gave the stock a buy rating in a research note on Wednesday, February 14th. Deutsche Bank reissued a buy rating and set a GBX 2,050 ($27.81) price target on shares of Prudential in a research note on Tuesday, February 6th. HSBC reissued a buy rating on shares of Prudential in a research note on Wednesday, March 21st. Finally, Citigroup reissued a buy rating on shares of Prudential in a research note on Thursday, March 15th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Prudential has a consensus rating of Buy and an average target price of GBX 2,131.42 ($28.91).

PRU opened at GBX 1,947.50 ($26.42) on Monday. Prudential has a 1-year low of GBX 1,612.14 ($21.87) and a 1-year high of GBX 1,992.50 ($27.03).

Prudential (LON:PRU) last released its quarterly 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). The business had revenue of GBX 4,400.50 billion for the quarter. Prudential had a return on equity of 19.94% and a net margin of 3.50%.

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

In related news, insider John W. Foley sold 81,468 shares of the stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of GBX 1,747 ($23.70), for a total value of £1,423,245.96 ($1,930,610.36). Over the last quarter, insiders purchased 30 shares of company stock valued at $54,950.

About Prudential

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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