Prudential PLC's Larger Share Buyback Pleasantly Surprises Bull

Dow Jones08-28

0640 GMT - Prudential PLC increasing its share buyback program by a further $300 million appears to be a pleasant surprise to DBS Research's Ken Shih. The move is supported by a partial stake sale in the insurer's joint venture with ICICI Bank. Prudential PLC's interim dividend rose 15% on year, which slightly beat the analyst's expectations. This demonstrates its strong commitment to continuously enhance its shareholder value and returns, Shih says in a note. Still, short-term interest rate volatility weighed on the insurer's 1H IFRS-adjusted net profit, prompting the analyst to reduce his 2026-2027 projections by 10%-18%. DBS maintains its buy rating and 138.00 Hong Kong dollar target price. Shares decline 1.65% to HK$107.20.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment