Prudential Share Discussion Threads

[suetballs] 16/11/2017 07:25

Great numbers today.
Suet

[philanderer] 02/11/2017 10:18

2nd nov Citigroup buy tp 2109p

[philanderer] 01/11/2017 18:00

Telegraph:


Questor: The Pru, like other ‘British insurers’, is misunderstood – and much undervalued

[douglas fir] 30/10/2017 12:42

Manager of £1.6bn Monks Investment Trust: 'Being cautious in rising markets isn't our style'
In focus | Prudential
Charles Plowden explains why Prudential is one of his key holdings
I love the Pru, which very few other people do. The firm’s chief motivation has been to change perceptions. The latest effort has been to close large parts of its UK business and focus on Asia. It wants to be seen as a high-growth Asian insurer.
We own both Prudential and Asian rival AIA. They’re very similar, in terms of products and margins, particularly because AIA has been run by ex-Prudential management. AIA does have an advantage in mainland China, thanks to more extensive licences.
The two nearly merged in 2010. Back then, Prudential was underselling itself and it still remains undervalued compared with its Asian peers. Its current price encompasses no future growth. I can justify today’s valuation on the basis of business it has already written. If you value Prudential’s Asian business on the same basis as AIA’s, you can add £36bn to its current £47bn valuation.



I don’t know how that comes about, though, or what is stopping it happening. The degree of undervaluation is slowly reducing, but there are still very few large British stocks so clearly undervalued.
Everyone thinks it’s boring, but that’s the point. There’s nothing special about its business model, it’s just a life company. It will deliver double-digit growth over the next five, 10, 20 years, and it’s rated as though it won’t grow at all. It’s really all about Asia, which is 30pc of the business but 80pc of the value.

[vacendak] 11/10/2017 19:58

Sold all of it today after more than eleven years. Juicy profits.
Nearly got sentimental when I pressed the button. :)

Still hold some indirectly through various ITs.

[christh] 14/8/2017 08:47

On its way up now.
Next stop £20.

Very dynamic management, pushing for new business,making right decisions,
effective, srong revenue.

X-div on the 24 August
Payment of dividend 28 September 2017
Dividend 14.50p

[christh] 10/8/2017 10:42

Prudential PLC's Asia Arm Helps Lift 1st Half Profit; To Merge UK Businesses
10/08/2017 10:34am
Dow Jones News
By Razak Musah Baba


LONDON--Prudential PLC (PRU.LN) more than doubled its first half net profit helped by a strong growth in its Asia business and said Thursday it will merge its U.K. businesses.

The financial services group's net profit during the six months ended June 30, rose to 1.51 billion pounds ($1.96 billion) from GBP687 million a year earlier.

Total revenue, net of reinsurance rose 21% to GBP43.01 billion from GBP35.54 billion a year earlier.

"Our successful strategy, innovative products and strong execution have driven growth across all of our main performance measures led by double-digit growth in our Asian business. We have achieved our objective of generating over GBP10 billion of group cumulative free surplus between Jan. 1, 2014 and Dec. 31, six months early and we remain on track to achieve the remaining Asia-focused objectives by the end of this year," Group Chief Executive Mike Wells said.

more here


------------------------------------
£20 target price

[christh] 10/8/2017 10:36

LATEST UPGRADES FOR PRUDENTIAL
Date...........Broker..........Recommendation......New target price.......Notes
01 Aug 17....JP Morgan Cazenove.....Neutral........1800.00............Reiterates
26 Jul 17.....Deutsche Bank..........Buy...........2000.00............Reiterates
21 Jul 17.....Barclays Capital.....Overweight......1949.00............Reiterates
04 Jul 17.....Goldman Sachs.........Buy............2000.00............Retains
13 Jun 17.....HSBC..................Buy............1980.00............Retains


The general consensus is £19.46

So there you have it
X-dividend 26 August and 14.5p per share.

[christh] 10/8/2017 10:22

Prudential sparks sale speculation by merging UK operations
27 minutes ago
by: Oliver Ralph

Prudential is to combine its two big UK operations into a single entity, in a move that will increase speculation that the business is being prepared for a sale or spin off.

Until now Prudential has had two separate businesses in its domestic market – a life insurance business and M&G, an asset manager.

On Thursday the company said that it would merge the two to create “a leading savings and investments business ideally positioned to target growing customer demand for comprehensive financial solutions”.

The life insurance operation – Prudential UK & Europe – is seen by analysts as a mature business. It stopped selling annuities last year and has recently put a £10bn back book up for sale, although the PruFund range is still selling well.

M&G is known for its expertise in fixed income investments, but performance has stuttered in recent years. Last year the company recruited Anne Richards from Aberdeen Asset Management to lead a turnround.

There has long been speculation about whether Prudential – which has big US and Asian operations as well as the UK business – will break itself up. Investors say that management has been more open to discussing the possibility in recent months.

However there have always been question marks over how a separation could be achieved, and how the UK business could be split from the other parts of the group.

Prudential chief executive Mike Wells said:

M&G and Prudential UK&E have a long history of collaboration and we are fortunate to have two highly respected brands. Combining these businesses will allow us to better leverage our considerable scale and capabilities.

In recent years, we have seen a convergence in the investments and savings markets with customers across all geographies and demographics demanding more comprehensive solutions to their financial needs. Bringing together these two high-quality businesses, while transitioning to a capital-light model, will enable M&G Prudential to increase its growth prospects by providing better outcomes for our millions of customers and in turn generate strong returns for our shareholders.

The company also reported its results for the first half of the year on Thursday. Operating profits rose 5% to £2.4bn, while the dividend was increased by 12% to 14.5p per share.

[churchill2] 27/7/2017 11:29

Yes the share price particularly strong in the last week which suggests half year figures will be positive.

Also will be interesting to see if management update shareholders on their recent entry into Africa as a fourth leg of the business. Rumours are that UK is to be of less importance in the near future.

[vacendak] 26/7/2017 11:59

Bobbing its head above £18 with a bit more assertiveness for the past couple of days now.

Half-Year results coming soon on August 10th.

@soundmoney
Prudential (and in the same vein HSBC) is indeed a good investment to play in Emerging Markets, while looking smug and claiming PRU is a FTSE 100 company. Returns without the perceived risk of investing in EM. What's not to like?

[soundmoney] 21/5/2017 13:12

On a PE of 12. AIG of 17 from memory. A great way to play emerging markets. Undervalued.

[churchill2] 19/5/2017 19:57

Positive statement.

Company firing on all cylinders.

Profit numbers for Asia and the States very encouraging.

Surprised at the muted response in the share price but Prudential has had a good run of late so a pause at this stage is to be expected.

[vacendak] 17/5/2017 15:42

If all fails, the divi is actually paid on Friday.
So we shall have banked something before the weekend. :)

[churchill2] 17/5/2017 15:12

Tomorrow is the Annual General Meeting.

Hopefully shareholders will be updated on current trading year to date.

A lot wlll depend on whether the rapid rate of growth in Asia has been maintained. Other factors include improvement in the situation experienced by Jackson in the States last year. Also in the UK some progress may have been made regarding the large provision made to cover the cost of the review and redress of annuity sales practices.

There is a fair amount of optimism built into the current share price so we need a positive statement. Fingers crossed.

[vacendak] 14/3/2017 09:33

Now that's a jump!

Could PRU be on its way at last for that fabled £20 a share predicted years ago?
I have yet to look at the report freshly posted today, but I guess it reads well.

[l.parker] 14/3/2017 09:19

I've had to buy another wallet.

[churchill2] 09/3/2017 19:38

Based on the Aviva results I am expecting good results. We shall see early next week.

Perhaps Mr Parker will get his wallet out again tomorrow.

[vacendak] 06/3/2017 08:50

The M&G funds performance had been pretty dismal over the past few years, so they could only improve... and they have. :)

They have escaped the "dog award" from the FT this year:

‘Spot the Dog’ report names worst-performing funds

"However, M&G has escaped this edition of Tilney’s report with three of its large funds — M&G Recovery, M&G Global Basics and M&G Global Dividend — improving their performance considerably since July."

PRU remains a good investment though, and yes, there could be a special dividend. The sale of PCA Life Insurance Co. Ltd had already been responsible for a nice jump back in November and there could be some money left to distribute indeed.

[churchill2] 04/3/2017 09:33

Figures due Tuesday week the 14th. I should imagine they will make good reading.

Funds under management with both Eastsping and MG reflecting the strength in Stock Markets around the world.

Also security backing for our liabilities and solvency should be signficantly improved and the possibility of a further special dividend.

No doubt there will be a fly in the ointment possibly Jackson in the States but the share price seems to be anticipating further progress.

[l.parker] 03/3/2017 15:36

How I love Pru, 2nd Friday I've gambled & filled my wallet, mind you, I track all
day, though, as an 88year old lay about, nothing to do. I used the winnings of
ARM & bless them. Have a nice day.

[l.parker] 31/1/2017 15:39

LETS HOPE JULIAN ADAMS TOLD PARLIMENT LAST WEEK THE UK "SHOULD NOT TO BE AFRAID TO
TAKE ACTION" RE TO HAVE A REGIME "APPROPRIATE FOR THE UK" AS BREXITE LOOMS.
SAM WOODS IS DUE TO GIVE EVIDENCE TO PARLIMENT TODAY ON THE THE ISSUE.

[its the oxman] 18/11/2016 12:14

I also hold. Prospects for growth look decent. Yield is ok. Certainly worse places to be. Emerging market exposure still not really in favour but its time will come again.