Prudential (LON:PRU) Reaches New 12-Month High – Still a Buy?

Prudential plc (LON:PRU)’s stock price hit a new 52-week high during trading 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 changing hands. The stock had previously closed at GBX 827 ($10.70).

Analysts Set New Price Targets

PRU has been the subject of several analyst reports. Bank of America reissued a “buy” rating and issued a GBX 1,000 ($12.94) price objective on shares of Prudential in a research note 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 report on Thursday, March 20th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Prudential currently has a consensus rating of “Buy” and a consensus target price 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 firm has a 50 day moving average price of GBX 720.14 and a 200 day moving average price of GBX 671.74. The stock has a market cap of £27.38 billion, a PE ratio of 41.57, a price-to-earnings-growth ratio of 0.40 and a beta of 1.20.

Prudential Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Thursday, March 27th will be given 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 (DPR) 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).