Prudential plc (PRU) Cut to Sell at Societe Generale
Prudential plc (LON:PRU) was downgraded by stock analysts at Societe Generale to a “sell” rating in a research report issued on Thursday. They currently have a GBX 1,250 ($15.47) price objective on the stock. Societe Generale’s target price indicates a potential downside of 9.55% from the company’s current price.
A number of other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. cut shares of Prudential plc to an “underweight” rating and decreased their target price for the stock from GBX 1,372 ($16.98) to GBX 1,252 ($15.50) in a research report on Tuesday, July 5th. Shore Capital restated a “buy” rating on shares of Prudential plc in a research report on Friday, June 24th. Goldman Sachs Group Inc. restated a “conviction-buy” rating and issued a GBX 1,750 ($21.66) price objective on shares of Prudential plc in a research report on Wednesday, August 17th. Royal Bank Of Canada restated a “sector performer” rating on shares of Prudential plc in a research report on Wednesday, August 10th. Finally, Morgan Stanley set a GBX 1,677 ($20.75) price objective on shares of Prudential plc and gave the company a “buy” rating in a research report on Friday, June 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of GBX 1,573.62 ($19.48).
Prudential plc (LON:PRU) traded down 4.66% during midday trading on Thursday, hitting GBX 1382.00. 7,539,089 shares of the company were exchanged. The firm’s market capitalization is GBX 35.49 billion. Prudential plc has a 1-year low of GBX 1,085.00 and a 1-year high of GBX 1,578.50. The stock has a 50 day moving average of GBX 1,389.04 and a 200 day moving average of GBX 1,339.35.
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The firm also recently announced a dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, August 25th were issued a dividend of GBX 12.93 ($0.16) per share. The ex-dividend date of this dividend was Thursday, August 25th. This represents a yield of 0.91%.
In other Prudential plc news, insider Lord J. Adair Turner bought 2,000 shares of Prudential plc stock in a transaction on Thursday, September 29th. The stock was acquired at an average cost of GBX 1,398 ($17.30) per share, with a total value of £27,960 ($34,603.96). Also, insider Tony Paul Wilkey sold 47,182 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of GBX 1,401 ($17.34), for a total transaction of £661,019.82 ($818,093.84).
Prudential plc Company Profile
Prudential Public Limited Company is an international financial services company. The Company has operations in Asia, the United States and the United Kingdom. Its segments include Insurance operations, including Asia, the United States (Jackson National Life Insurance Company (Jackson)) and the United Kingdom, and Asset management operations, including Eastspring Investments, the United States broker-dealer and asset management, M&G and Prudential Capital.
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