Prudential (LON:PRU) Stock Rating Reaffirmed as Buy by Berenberg Bank

Prudential (LON:PRU)‘s stock had its “buy” rating restated by Berenberg Bank in a report released on Thursday, Digital Look reports. They presently have a GBX 1,500 target price on the financial services provider’s stock. Berenberg Bank‘s target price would indicate a potential upside of 54.35% from the stock’s current price.

A number of other research analysts also recently weighed in on PRU. Citigroup lowered their target price on Prudential from GBX 1,425 to GBX 1,400 and set a “buy” rating on the stock in a report on Friday, September 4th. Jefferies Financial Group restated a “buy” rating and set a GBX 1,500 target price on shares of Prudential in a research report on Thursday, October 29th. Five equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Prudential has an average rating of “Buy” and an average target price of GBX 1,464.

Prudential Stock Performance

Shares of LON:PRU opened at GBX 971.80 on Thursday. The business has a 50-day simple moving average of GBX 945.63 and a two-hundred day simple moving average of GBX 1,051.75. Prudential has a fifty-two week low of GBX 867.40 and a fifty-two week high of GBX 1,238. The firm has a market cap of £23.93 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 0.40 and a beta of 0.91.

Insider Activity at Prudential

In related news, insider Anil Wadhwani acquired 42 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were acquired at an average cost of GBX 990 per share, for a total transaction of £415.80. Insiders own 0.52% of the company’s stock.

Prudential News Summary

Here are the key news stories impacting Prudential this week:

• Positive Sentiment: Prudential’s third-quarter new business profit rose 1%, indicating slight growth in new business despite challenging conditions. This may support sentiment, although the gain was modest. Insurance firm Prudential posts 1% rise in third-quarter new business profit
• Neutral Sentiment: Prudential Hong Kong is working with MediConCen and Mastercard on instant direct billing for medical expenses. The customer-service improvement could help the business, but the reports provide no indication of its expected financial contribution. MediConCen and Mastercard partnership for Prudential Hong Kong
• Neutral Sentiment: CEO and CFO share acquisitions were disclosed through incentive or employee plans. Because these were plan-related transactions, they offer limited evidence of discretionary insider buying. Prudential CEO Acquires Shares Through Incentive Plan Prudential CFO Acquires Shares Through Employee Plan
• Negative Sentiment: Reports noted pressure in China alongside the otherwise resilient quarterly performance. That headwind may constrain growth and temper the positive impact of the small increase in new business profit. Prudential Delivers Resilient Q3 Profit Despite China Pressure

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). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts.