Prudential (LON:PRU) Hits New 1-Year High – Time to Buy?

Prudential plc (LON:PRU) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 873.20 ($11.60) and last traded at GBX 869.40 ($11.55), with a volume of 42867984 shares. The stock had previously closed at GBX 835.60 ($11.10).

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PRU. JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 950 ($12.62) target price on shares of Prudential in a research report on Thursday, March 20th. Bank of America reissued a “buy” rating and set a GBX 1,000 ($13.29) target price on shares of Prudential in a research report on Thursday, March 20th.

Prudential Stock Performance

The stock’s 50-day moving average is GBX 782.49 and its 200-day moving average is GBX 701.16. The stock has a market cap of £28.31 billion, a price-to-earnings ratio of 42.99, a P/E/G ratio of 0.40 and a beta of 1.20. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 24.44.

Prudential Increases Dividend

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