PRU.L - Prudential plc

LSE - LSE Delayed Price. Currency in GBp
1,467.50
-41.00 (-2.72%)
At close: 4:35PM BST
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Previous close1,508.50
Open1,515.50
Bid1,463.50 x 0
Ask1,463.50 x 0
Day's range1,454.50 - 1,515.50
52-week range1,299.50 - 1,795.00
Volume5,285,478
Avg. volume6,396,572
Market cap38.153B
Beta (3Y monthly)1.25
PE ratio (TTM)11.88
EPS (TTM)123.50
Earnings dateN/A
Forward dividend & yield0.50 (3.32%)
Ex-dividend date2019-08-22
1y target est2,079.18
  • Financial Times

    M&G faces testing split from the Pru

    M&G Investments, famed for launching the first ever UK unit trust back in 1931, breaks away from insurer Prudential on October 21 in a listing that promises a rapid ascension into the FTSE 100. The demerger, which sees shareholders receive one new M&G share for each Prudential share they already own, will create an insurance and asset management powerhouse that analysts predict will command a market value of between £7bn and £9bn. The split from Prudential marks a turning point that provides M&G with scope to reinvent itself and fix problems that have dogged it for years.

  • Financial Times

    M&G Prudential to invest £875m in London ‘Gotham City’ project

    The investment arm of the insurer Prudential will invest £875m in a City of London development site where it plans to start work on a new skyscraper next year despite Brexit uncertainty. M&G Prudential has bought the development at 40 Leadenhall, nicknamed “Gotham City”, the group said on Monday. “The supply of new offices in London is pretty limited over the next four to five years — probably lower than for some time,” said Tony Brown, head of M&G Real Estate.

  • Financial Times

    Prudential mis-selling: are you eligible for compensation?

    Tens of thousands of savers who bought annuities from Prudential, the pension provider, are in line for compensation after the company was fined £24m for annuity mis-selling. agreed with the Financial Conduct Authority, the Pru is reviewing 183,000 annuity sales to determine whether customers were treated fairly. What did the Pru do wrong?

  • Financial Times

    Prudential/policy transfers: switch snitch

    Just such a case is playing out in the UK courts. Prudential, the 171-year-old life insurer, wants to transfer a £12bn annuity book to Rothesay, set up originally by Goldman Sachs and backed by private equity firm Blackstone. On Friday, Prudential and Rothesay launched an appeal.

  • Investing.com

    Top 5 Things to Know in the Market on Tuesday

    Investing.com -- China throws a party with ICBMs and stealth drones, while Hong Kong burns. Meanwhile, Europe's economy looks ever grimmer and Credit Suisse (SIX:CSGN) clears its CEO of wrongdoing in a spy drama. Here's what you need to know in financial markets on Tuesday, 1st October.

  • Reuters SG

    Prudential's Eastspring buys second Thai asset manager to boost growth

    Prudential Plc's Asian asset management unit Eastspring Investments is buying 50.1% of Thanachart Fund Management Co. Ltd. (TFUND) for 4.21 billion baht ($137.5 million), just a year after entering the Thai mutual fund market via an acquisition. Eastspring is buying the stakes from Thanachart Bank Pcl (TBANK) and Government Savings Bank. It has an option to raise ownership in the Thai asset manager to 100% in the future.

  • Prudential fined £24m for annuities sales failings
    The Guardian

    Prudential fined £24m for annuities sales failings

    Insurer to compensate 35,000 customers after failing to advise them to shop around. Prudential has been fined nearly £24m for “serious breaches” after failing to advise customers they might get a better deal if they shopped around for annuities and incentivising staff with spa breaks and weekends away. The Financial Conduct Authority, the City watchdog, said the failures caused harm to customers affected by the breaches between July 2008 and September 2017. Prudential apologised to customers and said it hoped to pay compensation by the end of October to most of the 35,000 people it estimates are affected. So far, the company has paid out £110m to 17,240 customers. As well as failing to ensure customers were consistently informed they might get a better deal if they shopped around, the FCA said Prudential had also failed to properly monitor customer calls and handed out incentives to staff that meant they might “put their own financial interests ahead of ensuring fair customer outcomes”. Call handlers were given sales-linked incentives, offering them the possibility of earning an additional 37% on top of their base salary and winning prizes such as spa breaks or weekend holidays. The watchdog said the £23.88m penalty would have been £34.1m if Prudential had not accepted the findings. Mark Steward, the FCA executive director of enforcement and market oversight, said: “Prudential failed to treat some of its customers, who could have secured a better deal on the open market, fairly. “These are very serious breaches that caused harm to those customers. Prudential is now rightly focused on redress and today’s financial penalty reinforces the cardinal obligation of fairness that firms owe to customers.” Prudential said: “We are deeply sorry for the historic failings in our non-advised annuity business and any detriment this has caused our customers. We are working hard to put this right and are on schedule to offer redress to the vast majority of affected customers by the end of October this year. “Our systems and controls have been significantly strengthened in the past two years through a substantial investment in our business.” An annuity is a retirement income product that can be bought with a customer’s pension pot and pays them a regular income in return. Prudential stopped selling annuities directly to customers in February 2017.

  • Markets watchdog fines Prudential 24 million pounds over annuity sales
    Reuters

    Markets watchdog fines Prudential 24 million pounds over annuity sales

    Britain's markets watchdog has fined insurer Prudential 24 million pounds ($29.39 million) for failures related to non-advised sales of annuities, it said on Monday. The FCA said Prudential failed to make sure customers were consistently advised that by shopping around they could get a higher rate on their annuities, which pay pensioners a fixed income for life. The fine relates to the period between July 2008 and September 2017, the FCA said, adding that as of Sept. 19, 2019, Prudential has offered around 110 million pounds in redress to 17,240 customers.

  • Prudential, M&G to split in October into two FTSE 100 firms
    Reuters

    Prudential, M&G to split in October into two FTSE 100 firms

    Prudential will spin off its UK and European insurance and asset management business M&G in October, Britain's largest insurer said in a prospectus published on Wednesday, dividing the insurance giant into two large-cap stocks. Prudential, founded in 1848 to provide loans to professional workers, announced the plan to hive off its UK arm last year. The split follows a trend among insurance and asset management businesses such as Old Mutual and Standard Life Aberdeen to break up and simplify their operations.

  • 3 Reasons Prudential PLC Could Be a Great Stock to Buy Now
    Motley Fool

    3 Reasons Prudential PLC Could Be a Great Stock to Buy Now

    Here are three reasons to buy Prudential now.

  • UK judge blocks £12 billion transfer of Prudential annuities to Rothesay Life
    Reuters

    UK judge blocks £12 billion transfer of Prudential annuities to Rothesay Life

    A UK High Court judge has blocked the transfer of 12 billion pounds in annuities from insurer Prudential to Rothesay Life, the two companies said on Friday. The deal, which would have been the largest ever such transfer covering 400,000 policy holders, was announced in March last year at the same time Prudential said it was to demerge its UK business. In response to tougher European Union rules introduced after the financial crisis, insurers have increasingly looked to free up capital by offloading closed books of annuity business to specialist firms such as Rothesay and Phoenix Group.

  • Reuters

    UPDATE 2-Prudential to split by year-end; monitoring Hong Kong protests

    Britain's biggest insurer Prudential will complete a planned break-up of the company by the end of the year, with its UK-focused fund and insurance business set to list as M&G Plc. The Asia and U.S.-focused rump of the company will continue to trade as Prudential and be listed in the UK, but will be subject to the regulator in Hong Kong - where Prudential said it was "carefully monitoring" current violent protests in the city. "We expect to complete the demerger of M&GPrudential in the fourth quarter of 2019, and preparations are complete for Prudential Plc's move to group-wide supervision by the Hong Kong Insurance Authority," Chief Executive Mike Wells said in a statement.

  • Reuters

    Prudential to split by year-end; monitoring Hong Kong protests

    Britain's biggest insurer Prudential will complete a planned break-up of the company by the end of the year, with its UK-focused fund and insurance business set to list as M&G Plc. The Asia and U.S.-focused rump of the company will continue to trade as Prudential and be listed in the UK, but will be subject to the regulator in Hong Kong - where Prudential said it was "carefully monitoring" current violent protests in the city. "We expect to complete the demerger of M&GPrudential in the fourth quarter of 2019, and preparations are complete for Prudential Plc's move to group-wide supervision by the Hong Kong Insurance Authority," Chief Executive Mike Wells said in a statement.

  • Reuters

    UPDATE 1-British insurer Aviva looking to sell Asia business - sources

    HONG KONG/LONDON, Aug 1 (Reuters) - British life and general insurer Aviva is looking to sell its Asia business, valuing the unit at more than $2 billion, two sources familiar with the matter told Reuters. Aviva is working with a financial adviser on a possible sale, with a formal process likely to begin in the fourth quarter, the sources said. There is no certainty of a sale, which will depend on the outcome of a review of the Asian business to be completed by the end of this quarter, the sources said.