Prudential (LON:PRU) Sets New 52-Week Low - Here's Why

Shares of Prudential plc (LON:PRU - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as GBX 601.20 ($7.74) and last traded at GBX 603.20 ($7.76), with a volume of 56505047 shares. The stock had previously closed at GBX 608 ($7.82).

Analysts Set New Price Targets

PRU has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 1,310 ($16.86) price target on shares of Prudential in a research note on Thursday, September 5th. JPMorgan Chase & Co. dropped their price target on Prudential from GBX 1,330 ($17.11) to GBX 1,150 ($14.80) and set an "overweight" rating for the company in a research note on Monday, September 2nd.

Prudential Price Performance

The company has a quick ratio of 0.67, a current ratio of 1.48 and a debt-to-equity ratio of 31.72. The company has a market cap of £16.32 billion, a PE ratio of 2,513.33, a P/E/G ratio of 0.40 and a beta of 1.20. The stock has a 50-day simple moving average of GBX 655.21 and a 200 day simple moving average of GBX 696.36.

Prudential Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Thursday, September 5th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a yield of 0.78%. Prudential's dividend payout ratio is currently 7,083.33%.

Prudential Company Profile

Prudential plc, through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa. The company was founded in 1848 and is headquartered in Central, Hong Kong.