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FT suggests that AIA missed profit estimates which was why their SP dipped ...so everything is always down to what is expected of you !!
AIA have been in the same share price decline as PRU ( since Jan 2023) although PRU seems to have been hit harder in % terms ...both SP are volatile and AIA share price has fallen on their results and PRU now opening down with continued volatility
Both companies are no doubt making progress internally and ready to take opportunities but the sector is out of favour with the markets ...
AIA did a share buy back and I half expect PRU to announce one ...remains to be seen at the Results on March 20th
Results today NBP +33% to US$4bn driven by HK
Operating profit US$6.2bn
Dividend +5%
Will Pru better these results?
Yes 20th March
as expected ..moving higher as Quarterly Option move towards expire day and Results day approaches ...share was oversold by the Put sellers - IMO
I except that internally the company will have made progress despite some of the external macro issues surrounding inflation/economies .....but... looking now for a move forwards in H2 of the calendar year
plenty of growth opportunities in Asia ..China still a huge market for opportunities especially within their targeted Bay Area and Beijing Areas IMO
Straight thru Resistance 1 & 2, heading for Resistance 3 (796.2710, 804.3430, 826.7570) all in one day. Read across from AIA ? Full year results Wednesday week.
PRU reports on the 20th March?
AIA reports on Thursday (after HK close)….Q3 showed positive progress with value of new business ahead 35% on 2022 and China up 20% in Q3.
It will be interesting to see what AIA reports…but those figures dont merit the hammering Pru and AIA share prices have taken…
Broken through the downtrend from 27 Jan 2023 on the daily. Consolidation since Jan 2024 and recent action suggests this is going north.
Thanks for your thoughts Mary. I share your confidence that this will recover, hopefully sooner rather than later and I hope it doesn't go near the £5. That would be stressful! I prefer your £9 and up thesis!
100% will recover but from what base. I'm in and averaged down already, slight loss. Adding at further significant falls.
I remember trading this for £6 to £12 and happy to try again, easing in.
£8 no prob, £9 / £10 perhaps. £5 first, who knows?
China generated 28% of total world savings in 2023...says IMF ....so ..plenty of business to be gained from there
Only good thing about PRU as far as I am concerned is it demerged Jackson at $25 and I bought a load more of them up to $36 reducing my PRU holding a bit. Jackson shows me 64% profit not including divs either which are pretty significant. PRU is -38% and pathetic divs. The far east and Africa growth plan has yet to bear suffering shareholders any fruit.
I think this is a sell anything with significant China interests story.
The last sales results and new business profits were pretty decent……
I cant believe the SP has sunk this low……
It can realistically only rally when there is an everything China rally and it will outperform that…..hard to see where the trigger for that is coming from…..I suspect we will be able to buy in the 600s soon and possible 500s later this year if nothing changes in China.
Do you see this recovering Mary?
Added @757 LT hold at these levels.
..
Thanks, we will see what happens on the 20th then. Fingers crossed!
" From the share price action the market will be expecting very poor results."
Not necessarily
...the SP is "probably" being sold down to benefit the Option traders ...
Quarterly Options expire on March 16th ... Results on March 20th
Take it to a low to buy in for the forthcoming 10p dividend..I suspect
"How much capital surplus do you think they will have?"
They had $8.3 billion at H1
£7.77 x 5000 shares. £15 daily charge. Will buy at £7.50
How much capital surplus do you think they will have? From the share price action the market will be expecting very poor results.
Looking more like they will announce a buy-back with the Results, with the SP down here , using their free-capital surplus
Https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.sharecast.com/amp/news/broker-recommendations/jpmorgan-reiterates-overweight-rating-on-prudential--15921774.html&ved=2ahUKEwjx37aUxdOEAxV1RUEAHYVLAtMQFnoECA8QAQ&usg=AOvVaw1LCJmBC7RDS_Cp2yRSoBuv
JP Morgan also think there's a lot of upside here!
Another point…does Prudential become a takeover target if the price falls much further?