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Prudential ( (GB:PRU) ) has shared an update.
Prudential plc has repurchased 322,715 of its ordinary shares from Merrill Lynch International at an average price of £9.2294 per share. The company plans to cancel these shares, which will result in a total of 2,579,600,960 shares in issue. This move is part of a previously announced arrangement and complies with the London Stock Exchange’s Listing Rules and the Hong Kong Code on Share Buy-Backs. The transaction is expected to impact the company’s share structure and may influence shareholder notifications under the FCA’s Disclosure Guidance and Transparency Rules.
The most recent analyst rating on (GB:PRU) stock is a Buy with a £11.61 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 stock benefits from strong financial performance, particularly in profitability and cash flow, alongside positive technical trends. Strategic corporate actions and fair valuation further bolster its investment case. However, revenue volatility and regulatory challenges are notable risks.
To see Spark’s full report on GB:PRU stock, click here.
More about Prudential
Prudential plc is a company that offers life and health insurance as well as asset management services across 24 markets in Asia and Africa. The company aims to be a trusted partner by providing simple and accessible financial and health solutions. It is listed on multiple stock exchanges, including the Hong Kong Stock Exchange, London Stock Exchange, Singapore Stock Exchange, and New York Stock Exchange.
Average Trading Volume: 5,370,460
Technical Sentiment Signal: Hold
Current Market Cap: £23.55B
Learn more about PRU stock on TipRanks’ Stock Analysis page.