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

Prudential plc (LON:PRU)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 843.40 ($10.92) and last traded at GBX 838.20 ($10.85), with a volume of 1221769000 shares. The stock had previously closed at GBX 827 ($10.70).

Wall Street Analyst Weigh In

PRU has been the topic of several recent analyst reports. Bank of America reaffirmed a “buy” rating and set a GBX 1,000 ($12.94) price objective on shares of Prudential in a research report on Thursday, March 20th. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 950 ($12.30) price objective on shares of Prudential in a research report on Thursday, March 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of GBX 1,188 ($15.38).

Prudential Stock Performance

The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 24.44. The company has a market capitalization of £27.38 billion, a P/E ratio of 41.57, a price-to-earnings-growth ratio of 0.40 and a beta of 1.20. The business has a 50 day moving average of GBX 720.14 and a 200 day moving average of GBX 671.74.

Prudential Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, May 14th. Investors of record on Thursday, March 27th will be paid a dividend of $0.16 per share. This is an increase from Prudential’s previous dividend of $0.07. The ex-dividend date of this dividend is Thursday, March 27th. This represents a yield of 1.58%. Prudential’s dividend payout ratio is presently 84.92%.

About Prudential

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).