Prudential (LON:PRU) Hits New 52-Week High – Should You Buy?

Prudential plc (LON:PRU)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 843.40 ($10.92) and last traded at GBX 838.20 ($10.85), with a volume of 1221769000 shares trading hands. The stock had previously closed at GBX 827 ($10.71).

Analyst Ratings Changes

Several analysts have issued reports on PRU shares. Bank of America reiterated a “buy” rating and issued a GBX 1,000 ($12.95) target price on shares of Prudential in a research note on Thursday, March 20th. JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 950 ($12.30) price objective on shares of Prudential in a research note on Thursday, March 20th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Prudential currently has a consensus rating of “Buy” and a consensus price target of GBX 1,188 ($15.38).

Prudential Price Performance

The stock has a market capitalization of £27.58 billion, a PE ratio of 41.87, a PEG 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. The business has a fifty day moving average price of GBX 711.42 and a 200-day moving average price of GBX 669.20.

Prudential Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Thursday, March 27th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, March 27th. This is an increase from Prudential’s previous dividend of $0.07. This represents a dividend yield of 1.58%. Prudential’s dividend payout ratio (DPR) is 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).