Prudential plc Announces Share Buyback and Cancellation

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

Prudential plc has repurchased 283,890 of its ordinary shares from Merrill Lynch International as part of a buyback program authorized by shareholders. The shares were bought at an average price of £10.7809 and will be canceled, reducing the total number of shares in issue to 2,555,788,178. This transaction is expected to impact the company’s share capital structure and may influence shareholder interests under the FCA’s Disclosure Guidance and Transparency Rules.

The most recent analyst rating on (GB:PRU) stock is a Buy with a £13.20 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 financial services company that provides life and health insurance as well as 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 secondary listings in Singapore and New York.

Average Trading Volume: 5,899,265

Technical Sentiment Signal: Buy

Current Market Cap: £26.94B

For an in-depth examination of PRU stock, go to TipRanks’ Overview page.