Bank of America Reiterates “Buy” Rating for Prudential (LON:PRU)

Bank of America restated their buy rating on shares of Prudential (LON:PRU) in a research report sent to investors on Thursday morning,Digital Look reports. They currently have a GBX 1,000 ($12.91) price target on the financial services provider’s stock.

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 950 ($12.27) target price on shares of Prudential in a research report on Thursday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Prudential has an average rating of “Buy” and an average target price of GBX 1,188 ($15.34).

Prudential Stock Performance

PRU stock opened at GBX 798.20 ($10.31) on Thursday. 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 £26.26 billion, a price-to-earnings ratio of 39.87, a P/E/G ratio of 0.40 and a beta of 1.20. Prudential has a 12 month low of GBX 594.80 ($7.68) and a 12 month high of GBX 850.68 ($10.98). The firm has a 50 day moving average of GBX 702.54 and a two-hundred day moving average of GBX 667.09.

Prudential Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Thursday, March 27th will be paid a $0.16 dividend. This represents a dividend yield of 1.58%. This is a boost from Prudential’s previous dividend of $0.07. The ex-dividend date of this dividend is Thursday, March 27th. Prudential’s payout ratio is presently 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).