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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?
"...Until then, the bottom is not even close! "
well the price has moved from a low of 684p to 740p , an increase of 8%
Earnings report on 30th April, 2024. Hopefully will give the price a well needed boost.
Loooooser, fair comment, but maybe it is part of their strategy not to pay a high dividend? Money paid in dividends is not money reinvested in the company. I own Legal & General and every time they pay a dividend, the share price drops by way more than the dividend so I always sell the day before the ex-dividend date.
More than likely, this will go back up when the hedge fund managers want it to.
Apart from candle sticks and other statistics, what has fundamentally changed since Year End to grant this optimism?
In March there was a little blib upwards after the Year End presentation, which soon after left the shares stranded further.
Dividend for thia company has been appalling , certainly for this group of companies. Compare dividends with say Aviva, Legal & General, etc. For the dividends to be brought in line the share price still has to drop further.
Most importantly, it is the fundamentals that will bring inveestors in subsequently a rising share price will bring investors in. Until then, th bottom is not even close!
BritishBulls says we may be at a market bottom but don't bet the farm on it.
https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=PRU.L
Let's hope we hit bottom yesterday. Only upwards from here hopefully 🙏 😀
I bought yesterday too.... mainly because I thought it was an insult to price them so low.... decided to give the shares a proper home :-)
I topped up yesterday hoping that's how low the price will go. This stock should do well.....at some stage anyway . :) 😀
For what it's worth, Motley Fool has a positive view. Now it is down to finding the bottom.
https://uk.finance.yahoo.com/news/down-40-ftse-100-stock-060400928.html
That's not the case as MNG and Jackson have been demerged since.
You would need to recalculate by adding back the value of demerged businesses to the PRU market cap - at the time of dermger - to make it fairer, rather than their current values.
40% of their profit is derived from China and Hong Kong.
The rest Asia and Africa.
It's not ...the UK's premier insurance company.
Unless you are just referring to the market cap - which is rapidly shrinking.
Unless
I think this is nearing the bottom, now is the time to buy let the dust settle tomorrow they cannot stay at this price, this is Britain insurance flagship, might even be a takeover!
Bought in at £6.96 better than expected China growth hopefully should lift the shares tomorrow.