oldjoe1
19 Mar 2015
Re: NEW ARTICLE: Why Prudential plc Has Grea... Take note of this, good write up from Hargreaves L........PRUDENTIAL Sell: 1,752.00pBuy: 1,753.00p19.00p (1.10%)FTSE 100: 0.25%Market closed | Prices as at close on 19 Mar 2015 | Switch to live prices | Turn HL COMMENT (10 MARCH 2015)Updated 19/March/2015Prudential delivered a strong performance in 2014. IFRS operating profit increased 14% at constant currency to £3,186 million (8% at actual exchange rates), with all three of the Pru's core geographic regions delivering growth. Asia and the US both performed strongly with operating profit in both divisions growing by 17% at constant currency. The UK Life business also delivered a resilient performance, growing operating profit by 7%, despite a substantial decline in individual annuity sales as a result of the recent budget changes. This gave the company the confidence to raise the full year dividend by 10%. On a less positive note, Prudential has also announced today that its highly regarded CEO, Tidjane Thiam, will step down later this year, to take the reins at Credit Suisse. The shares fell by around 3% in early morning trading.Key highlights (on constant exchange rate basis): IFRS operating profit of £3,186 million, up 14%.Underlying free surplus generation (after investment in new business) of £2,579 million, up 9%. Net cash remittances from increased by 11% to £1,482 million.IFRS shareholders funds of £11.8 billion, up 22%.Insurance Groups Directive (IGD) capital surplus estimated at £4.7 billion; solvency requirements covered 2.4 times.Annual premium equivalent (APE) sales increased by 12% to £4,650 million.Full year dividend increased by 10% to 36.93 pence per share. A progressive dividend policy is maintained with medium term target dividend cover of around two times.Geographic/divisional performancePrudential operates four main business units. The UK Life business, which includes the sale of with-profits policies and annuities, the asset management business, which includes M&G in the UK and Eastspring Investments in Asia. In the US, Jackson National is primarily focused on the sales on variable annuities and other retirement products, whilst Asia Life sells a range of insurance policies in South East Asia. The performance of each of these business units is summarised below:UK Life: IFRS operating profit rose 7% to £752 million despite a 49% decline in sales of individual annuities as a result of after major changes to the UK's pensions regime were announced in the last Budget. This was more than offset by a 34% increase in with-profits bond sales and a strong rise in bulk annuity sales to defined benefit pension schemes.Asset management: M&G IFRS operating profit rose 13% to £446 million and cash remitted increased by a record 21% to £285 million. Continued net fund inflows and generally positive market movements saw M&G's total funds under management rise by 8% to £264 billion. Eastspring's total funds under management hit a record £77.3 billion, up 28% on the prior year.Jackson Life: Jackson's life IFRS operating profit grew 21% (15% on an actual exchange rate basis) to £1,431 million and cash remittances grew by 41% to a record £415 million. This was driven by a 10% increase in total variable annuity sales to £1,401 million.Asia: Asia delivered results, described by the Pru as "excellent across all metrics" during 2014. IFRS operating profit of £1,140 million was up 17% over 2013 (6% on actual exchange rate basis) and free surplus generation increased 15% to £592 million (3% on actual exchange rate basis). Net cash remittances were £400 million, in line with 2013 and the group produced £1,162 million of new business profit, 13% higher than in 2013 Change of CEO
rudential today announced that Tidjane Thiam, Group Chief Executive, will step down later this year to join Credit Suisse as CEO. The group has identified a successor and expects to be able to announce the new CEO once the regulatory approval
oldjoe1
19 Mar 2015
Re: PRU...Bullish Broker Views..... 19 Mar 2015 Prudential PLC PRU Societe Generale Buy 1,753.00 1,733.00 1,951.00 1,951.00 ReiteratesSP TARGET 1951p
oldjoe1
19 Mar 2015
Re: PRU...Bullish Broker Views..... 19 Mar 2015 Prudential PLC PRU Barclays Capital Overweight 1,751.00 1,733.00 1,797.00 1,868.00 ReiteratesSP TARGET 1868p
oldjoe1
19 Mar 2015
PRU Chart Looks A Stonker...... PRU fantastic upward trend been going on now for three years or more. brokers also have higher SP targets.....<img src="[link]
oldjoe1
19 Mar 2015
PRU...Bullish Broker Views..... Prudential broker viewsDate Broker Recommendation Price Old target price New target price Notes19 Mar Barclays Capital Overweight 1,750.50 1,797.00 1,868.00 Reiterates13 Mar Credit Suisse Outperform 1,750.50 1,750.00 1,900.00 Retains12 Mar Morgan Stanley Overweight 1,750.50 1,736.00 1,815.00 Retains11 Mar Societe Generale Buy 1,750.50 1,530.00 1,951.00 Reiterates11 Mar Berenberg Buy 1,750.50 1,800.00 1,800.00 Reiterates
rat buckett
10 Mar 2015
Re: NEW ARTICLE: CEO Thiam leaves Prudential They've only gone down 2%.Also the Pru shares seem to drop on the day of the results every year even though the results are good. It's as if the results are always factored in as they rise in the couple of weeks leading up to results and then they drop back as they aren't as brilliant as had been made out.
II Editor
10 Mar 2015
NEW ARTICLE: CEO Thiam leaves Prudential "The popularity of a chief executive can often be gauged by the share price response when they announce their departure. Insurer LSERUrudential's full-year results were fine, so the 6% slump in its shares first thing Tuesday can only be ..."[link]
maproom
19 Dec 2014
M&G adverts Those jittering adverts for M&G really are <censored> annoying. I guess the Pru must hate people who read sites like this one - no other advertiser is anywhere near as distracting. It makes me very glad I sold my last M&G holding years ago.
oldjoe1
27 Nov 2014
Re: PRU Broker Updates.... 27 Nov 2014 Prudential PLC PRU Barclays Capital Overweight 1,519.50 1,519.00 - 1,787.00 ReiteratesSP Target 1787p
II Editor
24 Nov 2014
NEW ARTICLE: Trends and Targets for 25/11/2014 " QUINDELL ORD 15P (LSE:QPP) once again presented us with a Smug Git Award for projections. Three days and movement from 54 to 88p. For more information on its future movements, just subscribe! PRUDENTIAL GBP0.05 (LSERU)  is approaching a ..."[link]
oldjoe1
20 Nov 2014
Re: PRU Broker Updates.... From The Motley Fool today........Aviva plc, Legal & General Group Plc And Prudential plc Have Completely Thrashed This MarketHarvey Jones - Wednesday, 19 November, 2014 When I did a portfolio spring clean earlier this year there were two stocks I didn’t even consider dumping: insurance giants Aviva (LSE: AV) and Prudential (LSE: PRU).I’m glad I held onto them, because both have thrashed the wider stock market, as has the other big name in the life sector, Legal & General Group (LSE: LGEN).How To Crush The MarketWhile the FTSE 100 has stagnated over the last 12 months, Aviva is up 25%, L&G is up 16% and the Pru is up 18%.That’s tremendous performance in what should have been a difficult period, given market stagnation, and Chancellor George Osborne’s radical pensions overhaul, which instantly halved annuity sales.Pru’s Aim Is TruePru has smashed analyst expectations again, with double-digit growth year-to-date in both new business profits and annual premiums across its three life businesses in the UK, US and Asia.Its asset management business also saw net inflows of £9.6bn, including strong performance in the UK.The Pru share price is up 150% over the last three years, and although its 2.23% dividend yield disappoints, there is plenty of scope for progression on that front.A Legal MatterL&G also has momentum on its side, its share price up 136% over three years. Q3 results showed impressive growth in revenues, operating profits, customers and net cash, and a continuing strong return on equity.Individual annuity sales fell 60%, but the bulk annuity market is more than compensating, while its investment management business saw total assets increase by £82bn to £676bn.Its 3.8% yield trumps both Prudential and the FTSE 100 average of 3.5%.Viva AvivaAviva is playing catch up with its runaway rivals, but I bought it as a recovery play, and it is steadily getting there. Its net asset value is up 10% year-to-date, new business is up 15% by value and its general insurance combined ratio has improved to 95.9%. Aviva may lack Prudential’s exposure to fast-growing Asian markets, but its tighter focus on the UK and Europe has served it well. Although its 2.8% yield hardly thrills.Reassuringly ExpensiveAll three insurers benefit from low interest rates (which force savers to consider more dynamic alternatives), ageing Western and Asian populations, and the push to encourage private pension provision.Success comes at a price, however. All three look expensive right now, with L&G and the Pru trading at around 16 times earnings, and Aviva at 24 times.Given their breakneck growth, that may be a price worth paying.
oldjoe1
19 Nov 2014
Re: PRU Broker Updates.... PRUCommentating on yesterdays Results:Shore Capital analyst Eamonn Flanagan saidrudential’s excellent performance in the first nine months of 2014, with both new business volumes and profits ahead of our expectations and towards the top end of market forecasts, was delivered in the face of significant foreign exchange headwinds and turmoil within Indonesia, one of its key ‘sweet spot’ territories in Asia. The underlying figures at constant forex, growth of 17% in new business profits and 14% in volume, bears testimony to the strength of Prudential’s strategic positioning in the key Asian, US and UK markets, the depth of its franchise across the globe and the continued focus on capital efficiency and profitability over volume. This, in turn, should translate into excellent delivery of IFRS [international financial reporting standards] profits and cash, with investors ultimately benefiting via dividend flows.Bernstein Research saidrudential reported a solid set of numbers at the third quarter, beating consensus, and in line with our estimates. Shorter-term macroeconomic challenges, and Asian currency weakness remains, but underlying earnings progress remains solid. We retain our outperform rating on Prudential [with a price target of] 1650p
oldjoe1
19 Nov 2014
Re: PRU Broker Updates.... 19 Nov 2014 Prudential PLC PRU Societe Generale Buy 1,505.75 1,491.00 1,530.00 1,530.00 Reiterates
oldjoe1
19 Nov 2014
PRU Broker Updates.... 19 Nov 2014 Prudential PLC PRU Deutsche Bank Buy 1,480.25 1,491.00 1,630.00 1,680.00 Reiterates
