Prudential (LON:PRU) Earns “Overweight” Rating from Barclays

Barclays reiterated their overweight rating on shares of Prudential (LON:PRU) in a report published on Wednesday, Marketbeat.com reports. Barclays currently has a GBX 1,390 ($17.46) price target on the financial services provider’s stock.

Separately, Jefferies Financial Group reaffirmed a buy rating and set a GBX 1,800 ($22.61) target price on shares of Prudential in a research report on Wednesday, March 20th.

Prudential Price Performance

Shares of LON:PRU opened at GBX 756.20 ($9.50) on Wednesday. Prudential has a twelve month low of GBX 684.73 ($8.60) and a twelve month high of GBX 1,191 ($14.96). The company has a market cap of £20.80 billion, a price-to-earnings ratio of 1,543.27, a PEG ratio of 0.80 and a beta of 1.26. The business has a 50 day moving average price of GBX 750.04 and a 200 day moving average price of GBX 818.26. The company has a quick ratio of 0.67, a current ratio of 2.02 and a debt-to-equity ratio of 31.08.

Prudential Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, March 28th. This is a boost from Prudential’s previous dividend of $0.06. This represents a dividend yield of 1.43%. Prudential’s payout ratio is currently 3,469.39%.

Insider Buying and Selling

In other Prudential news, insider Anil Wadhwani acquired 65,016 shares of Prudential stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of GBX 738 ($9.27) per share, with a total value of £479,818.08 ($602,710.82). 0.37% of the stock is owned by company insiders.

Prudential Company Profile

Prudential plc, through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa. The company was founded in 1848 and is headquartered in Central, Hong Kong.