Prudential Announces Share Buyback and Scrip Dividend Issuance

The latest update is out from Prudential ( (GB:PRU) ).

Prudential plc announced the repurchase of 292,389 of its ordinary shares from Merrill Lynch International, as part of a buyback program authorized by shareholders. The company intends to cancel these shares, which were acquired at an average price of £10.1242. Additionally, Prudential issued 2,175,535 ordinary shares related to a scrip dividend alternative, impacting the total number of shares and voting rights to 2,564,068,247. This move is in line with the company’s strategic financial management and may influence shareholder interests and market positioning.

The most recent analyst rating on (GB:PRU) stock is a Buy with a £1220.00 price target. To see the full list of analyst forecasts on Prudential stock, see the GB:PRU Stock Forecast page.

Spark’s Take on GB:PRU Stock

According to Spark, TipRanks’ AI Analyst, GB:PRU is a Outperform.

Prudential’s overall stock score reflects strong financial performance and positive technical indicators. The company’s strategic investments and capital management plans are promising, despite challenges in certain markets and regulatory environments. The valuation remains attractive, supporting a favorable outlook.

To see Spark’s full report on GB:PRU stock, click here.

More about Prudential

Prudential plc is a company that provides life and health insurance and asset management services across Greater China, ASEAN, India, and Africa. The company aims to be a trusted partner by offering simple and accessible financial and health solutions. Prudential has dual primary listings on the Hong Kong and London Stock Exchanges and is also listed on the Singapore and New York Stock Exchanges.

Average Trading Volume: 5,319,811

Technical Sentiment Signal: Buy

Current Market Cap: £26.09B

For a thorough assessment of PRU stock, go to TipRanks’ Stock Analysis page.