Prudential (PRU) Given New GBX 2,300 Price Target at HSBC

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Prudential (LON:PRU) had its price target lifted by HSBC from GBX 2,240 ($29.27) to GBX 2,300 ($30.05) in a report published on Thursday, Borsen Zeitung reports. HSBC currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada reissued a sector performer rating on shares of Prudential in a research report on Thursday, March 21st. JPMorgan Chase & Co. reissued a neutral rating and issued a GBX 1,558 ($20.36) price target on shares of Prudential in a research report on Monday, April 8th. Jefferies Financial Group raised their price target on shares of Prudential from GBX 1,936 ($25.30) to GBX 1,949 ($25.47) and gave the company a hold rating in a research report on Monday, April 29th. Barclays set a GBX 2,088 ($27.28) price target on shares of Prudential and gave the company a buy rating in a research report on Wednesday, May 8th. Finally, Shore Capital reissued a buy rating and issued a GBX 1,950 ($25.48) price target on shares of Prudential in a research report on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Prudential currently has an average rating of Buy and a consensus target price of GBX 2,061 ($26.93).

Shares of PRU stock opened at GBX 1,594 ($20.83) on Thursday. The company has a debt-to-equity ratio of 113.46, a current ratio of 1.17 and a quick ratio of 0.14. Prudential has a 52 week low of GBX 1,325 ($17.31) and a 52 week high of GBX 1,962 ($25.64). The company has a market capitalization of $41.25 billion and a price-to-earnings ratio of 13.65.

The company also recently disclosed a dividend, which was paid on Friday, May 17th. Stockholders of record on Thursday, March 28th were given a dividend of GBX 33.68 ($0.44) per share. This is a boost from Prudential’s previous dividend of $15.67. This represents a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, March 28th. Prudential’s payout ratio is 0.42%.

In other news, insider Fields Wicker-Miurin acquired 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average cost of GBX 1,655 ($21.63) per share, with a total value of £24,825 ($32,438.26). Also, insider Mike Wells sold 149,122 shares of Prudential stock in a transaction on Monday, April 1st. The stock was sold at an average price of GBX 1,561 ($20.40), for a total transaction of £2,327,794.42 ($3,041,675.71). Over the last ninety days, insiders have bought 1,522 shares of company stock valued at $2,517,315.

Prudential Company Profile

Prudential plc, through 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; mutual funds; and personal lines property and casualty insurance, group insurance, and institutional fund management services.

Further Reading: Debt-To-Equity Ratio

Analyst Recommendations for Prudential (LON:PRU)

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