Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Won’t this help us? Savings and investments in our products, many won’t use cash of course
I can see where these crazy broker targets come from now. Is 5 years a long time to wait to more than double your money safely, I don’t think so
£15 in 5 years time will do me nicely thanks
Looking at the number of countries we are expanding in across three continents id say they are still in the early stages of a snowball, clearly long term growth stock
I wouldn’t be surprised to see turnover double over the next 5 years as Asia returns to 5-10% growth
Brand strength going to be key
This is a warren buffet classic but quality and hold for the long term
Conclusion to be drawn from PRU's parsimony is the fact the co cannot afford substantial increases in the payout - which has been paltry for a few years now.
Reassuring £17.50 target price
In key news on UK stocks, Prudential PLC () announced solid Q1 2024 results, which were marred by the missing buyback news that was eagerly awaited by investors. The company’s new business profits grew by 11% (excluding economic impacts) in the first quarter to $810 million compared to the prior corresponding period. Despite this, shares fell by over 4% as of writing, leading the list of top fallers on the FTSE 100 index.
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Even though there was no news on the expected buyback by the company, management assured its ongoing commitment to enhancing shareholder returns. The company expects to provide further updates on its capital management plans before its , scheduled for August.
Prudential PLC specializes in life and health insurance and asset management, with a primary focus on the Asian and African markets.
Prudential PLC’s Q1 Triumph
Prudential’s APE (annual premium equivalent) sales increased by 7% to $1.625 billion. Despite some headwinds in regions like Vietnam and Indonesia, total APE sales have shown consistent sequential growth since the third quarter of 2023. This underscores strong product demand across Asia along with the company’s multi-channel distribution in different markets.
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Prudential emphasized its resilient performance despite comparison with the strong results in Q1 2023, following the reopening of the border between Hong Kong and the Chinese Mainland.
Jefferies analyst Philip Kett compared Prudential’s results to those of its Hong Kong-based competitor AIA Group (), which . AIA Group reported a remarkable 31% surge in the value of new business (VONB) at constant exchange rates, reaching a record quarterly high of $1.33 billion. AIA also announced an additional buyback of $2 billion, taking the total program to $12 billion.
Kett is optimistic about the company’s next update regarding its capital management plans. Kett has a Buy rating on Prudential stock with a price target of 1,750p, implying a growth potential of 150%.
Is Prudential a Good Share to Buy?
Over the last 12 months, PRU stock has lost 40% in trading. This is mainly attributed to the challenges faced by the UK insurance sector due to higher claim costs.
Moving forward, analysts remain bullish on PRU stock and have rated it a Strong Buy. According to TipRanks, has received Buy recommendations from all the 10 analysts covering it. The target is 1,368.76p, which implies a huge upside of 93% from the current trading level.
Just after the close
Somebody is confident
Target prices possibly to be cut tomorrow but likely to be way higher than todays closing price
https://markets.investorschronicle.co.uk/data/equities/tearsheet/forecasts?s=PRU:LSE
First nibble at PRU at 702, whoo hoo!...
Unless you are AIA, that is.
Asia was sold as an extraordinary growth story for PRU.
It's turning out a little differently.
Pru does seem to be taking its shareholders rather too much for granted. per 06:26, it would be nice if AIA would gee them up a bit.
N/m
It would be nice to see other brokers issuing targets like Barclays. Tomorrow morning I think? Surely will be way north of £7.05?
China getting back on its feet again, India fastest growing economy will hopefully boost the share price over the coming months and years ahead
I think the news does not warrant the drop today. Still, fundamentals are still good.
https://www.prudentialplc.com/en/news-and-insights/all-news/news-releases/2024/30-04-2024
Solid results , capital allocation is the big thing , I guess a few in the markets were hoping for a big buy back or divi rise . Personally for me today’s pull back / fall makes this dirt cheap and a massive buy
Re added
Pru update is a mixed bag,,,APE up 7%, NBP flat.
Some markets well ahead (Malaysia), others substantially down (Vietnam, Indonesia, China), HK flat against strong comparative figures.
HK market has marked Pru down slightly, but little volume there, anyone’s guess where London will go.
Pru has promised a capital management update by the HY results (clearly caught off guard by AIA announcement yesterday).
Thanks for your reply
"Anyone notices 2 trades at 14:03pm? Value £57m each. "
yes, both identical..... OFF BOOK and OFF LON
must be transfers between funds ? ?
Anyone notices 2 trades at 14:03pm? Value £57m each.
I'm in here from 723p. Trade position only. I might be gone tomorrow ;)
Hopefully this is the bottom of the China property market.
https://www.reuters.com/business/chinese-property-shares-rally-stimulus-hopes-2024-04-29/
I am surprised they have not done a Buy Back within these low price levels ....I think the market is too
maybe they have some Acquisitions in mind to further strengthen growth projections
AIA announced a new capital management policy.
75% of net free surplus generated will be returned to SH each year.
Based on 2023 this would have resulted in USD 2.3bn dividend and 0.6bn buy back.
They also have a capital surplus of 200% of the required minimum. Using this metric they added $2bn to their 2024 buy back.
I doubt that Pru will respond immediately with changes of its own….but the comparator for capital is set out. At present Pru is a stingy dividend payer (about half the yield of AIA) and does not operate a buy back programme. If they can increase the shareholder returns, the SP may respond more favourably.
AIA up 7%, Pru up 4% on Monday 29/4
Pru market update on Tuesday, could be well received,
Ping An Q1 results were out today…..showing strong progress on the sales side over Q1 last year…but profitability slightly down. Suggests CITIC-Pru JV should show improvement in the Q1 update next week. Has the corner been turned?