Deutsche Bank upgrades Prudential to ‘buy’ from ‘hold’ following activist investor break-up call
“Though not a new concept, this is the first time that pressure is coming from an aggressive activist investor,” the German bank's analysts said
Company
Prudential PLC
LON:PRU
Prudential PLC is a provider of life insurance, investment and savings products. In October 2019 it spun off its UK-focused arm M&G PLC, leaving Prudential as an Asia-led group. Prudential PLC has 20 million customers and is listed on stock exchanges in London, Hong Kong, Singapore and New York. Prudential PLC is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
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Prudential becomes latest target of investor activism
The insurance giant is currently under pressure from its second-largest shareholder, hedge fund Third Point, to break up its US and Asian businesses
Prudential prepared to discuss break-up proposal from US hedge fund
Third Point has US$14bn under management and is led by corporate activist Dan Loeb
Prudential completes acquisition of Thai mutual fund manager
Prudential's Asian asset management business Eastspring is now Thailand's fourth-largest asset manager
The pros and cons of demergers
Much like its counterpart, merging, a demerger can present its own set of advantages and disadvantages, the latter of which could leave investors out of pocket
Prudential shares revalued downwards following split from UK business M&G
The split, originally announced in March 2018, will leave Prudential to focus on its Asian and US markets, while M&G takes up the UK and European segments
Insurance giant Prudential to complete £7bn demerger in fourth quarter
Prudential is separating its UK business, which will be called M&G PLC, from its US and Asian operations
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Prudential, Balfour Beatty and UK inflation data to dominate Wednesday’s news agenda
Wednesday looks like being the busiest day of an otherwise quiet week
FTSE 100 closes in the red as Hong Kong tensions reverberate around markets
Tensions in Hong Kong have become increasingly violent since June this year
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Prudential investors await demerger update expected in interim results
It looks set to a quiet week of corporate news while UK inflation and employment data will be in the spotlight on the macro-economics front
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FTSE 100 closes sharply lower as US jobs fail to inspire; RBS top laggard
"The [jobs] report will more than likely be brushed aside as Fed Chair Powell and US President Trump continue to clash horns in a power struggle," said Nick Kilbey, a sales trader at Foenix Partners
Investments and investor services
FTSE 100 closes firmly higher as Wall Street shares head north; sterling slides
The UK benchmark index closed over 56 points higher, at 7,353, aided by the fall in the pound
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Burberry and Thomas Cook in the spotlight; ex-divs to take 26 points off the FTSE 100
Numbers from Countryside Properties, National Grid, and Wincanton will also be among Thursday's highlights.
Debenhams to close 22 stores next year as part of CVA plan
Several London-listed REITs have Debenhams stores on their books
Prudential split in two makes four for Deutsche
Prudential’s planned spin-off of its UK business could eventually lead to a further demerger of its US arm, reckons Deutsche Bank
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Blue chips to swerve Thursday’s Brexit fall-out, small caps will be in spotlight
IGas and Gulf Keystone are on the agenda, meanwhile Brexit will likely be a talking point for Eddie Stobart Logistics.
Prudential profits rise more than expected as it makes 'continued progress' with M&G demerger
“I am confident that, given the extent of our opportunities and our proven ability to execute and innovate, we are well positioned to continue to grow profitably," said Prudential boss Mike Wells.
FTSE 100 closes marginally higher ahead of next Parliamentary vote on Brexit
The January US Durable Goods Orders and Shipments Report showed that business equipment investment got off to a sluggish start this year, Berenberg Capital Markets noted
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Spring Statement to dominate on Wednesday amid fallout from Brexit deal vote
While major fiscal measures are not expected, the result of Tuesday's vote on Theresa May's Brexit deal could put the chancellor on the spot
Deutsche Bank trims price target for Prudential but still thinks the insurer is a “quality business - cheaply rated”
The German bank's analysts reduced their target price for the blue-chip firm to 2,100p, down from 2,225p previously, an 8% cut to reflect a lower US valuation
Prudential says M&G demerger on track as it reports growth in new business profits
Prudential boss Mike Wells said "the profitable growth prospects of our Asia businesses remain substantial"
FTSE 100 closes lower ahead of Prime Minister's Brexit statement
The UK blue-chip index closed down 19.97 at 7,033, while FTSE 250 shed over 75 points at 18,910
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Prudential recruits JP Morgan's Michael Fallon to succeed Barry Stowe as boss of its North American unit
Falcon's annual salary will be US$800,000. He will have a maximum bonus opportunity of 100% of salary and will receive 10% of the Jackson bonus pool with 40% of any bonus deferred. Long-term incentive awards will be 400% of salary. Despite
Unilever becomes Unistayer but other blue-chip companies may quit the UK
As the Clash sang: should I stay or should I go? Any number of mining companies, big pharma, Diageo, Ferguson, Aggreko and Ashtead could all make the jump but three companies in the financial sector look the most likely to up sticks.
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Proactive news snapshot: Greatland Gold, European Metals, Chesnara, BigDish...
A glance at some of the day's highlights from the Proactive Investors newswire
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Just Eat chairman Mike Evans leaves Chesnara as director to oversee Prudential split
Jane Dale will succeed Mike Evans as senior independent director at Chesnara
FTSE 100 closes in red; Royal Mail delivers share plunge
The UK blue-chip index closed down around 14 points at 7,495 as the stronger pound weighed
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Finance houses no longer appear to love asset managers; why should you?
Suddenly, it's all the rage for insurance companies to offload their asset management businesses. Does this signify the top of the market?
Investments and investor services
FTSE 100 closes in red as trade worries and Brexit fears put investors off
The UK index of leading shares finished Thursday down around 11 points, or 0.15%, at 7,563.
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CRH to provide progress report on margin improvement initiatives
There are not many heavyweights expected to release results on Thursday but plenty will be going ex-dividend
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World biggest miner, BHP Billiton the main focus as results flow set to slow in coming week
Only three other FTSE 100-listed companies are scheduled to unveil updates – housebuilder Persimmon, Irish construction group CRH, and Middle East hospitals operator NMC Healthcare
Prudential lifts interim dividend as cash generation and profits rise
The group said it is making "good progress" on plans to split itself up with the demerger of M&G
Investments and investor services
FTSE 100 consolidates gains as sterling's woes continue
Sterling's fall was good news for the Footsie's many big dollar earners
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Finance in focus again on Wednesday as insurance and gambling sector heavyweights to report
Away from the banks, the financial sector will still be at the forefront of the market's mind as Prudential and Paddy Power Betfair prepare to release interim results
Investments and investor services
FTSE 100 closes higher, supported by gains in oil giants as crude prices rise
At the close, the UK blue chip index was 4.68 points higher at 7,663.78, just below the session peak of 7,681.86, having recovered from a low of 7,636.60
Equiniti shares jump as it expects full-year earnings to reach top end of market forecasts
Equiniti said revenues were boosted by contract renewals and new client wins
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FCA to take no action against Lloyds Banking Group's Scottish Widows unit after long-running probe
The regulator had been investigating Scottish Widows and five other insurers since March 2016 after conducting a review of their treatment of longstanding customers
Prudential shares under pressure after Citigroup downgrade
Citigroup said it is "mindful" of new risks facing the insurance sector
Stellar Diamonds shares leap as court approves its acquisition by NWF
A look at some of the biggest risers and fallers in London on Wednesday
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Time's almost up for GKN shareholders to vote on Melrose hostile takeover bid
The day ahead includes the outcome of Melrose's hostile takeover bid for GKN and trading updates from SSE and RPC
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Utilities dominate week ahead with updates from Pennon, United Utilities and SSE
The week ahead includes trading updates from Pennon, United Utilities and SSE, along with interims from DFS Furniture and full year results from Moss Bros and AG Barr
Investments and investor services
FTSE 100 closes higher as Dow Jones climbs after host of data
Britain's blue chip index closed up around seven points, or 0.10%, at 7,139..
Prudential split makes strategic sense as seismic shifts in financial sector roll on
Richard Hunter, head of markets at interactive investor, commented: “News of a demerger driven by geography is one which makes commercial and strategic sense"
Prudential to spin-off M&G Prudential and sell £12bn of UK annuity portfolio
The company hiked its dividend by 8% as it reported an increase in full year operating profit, led by double-digit growth in Asia
Investments and investor services
FTSE 100 closes in red as Wall Street suffers, but miners show support
FTSE 100 closed down around six points at 7,132 but big cap miners were up
Morrisons is not the basket case it once was
Previews of results statements from supermarket chain, Morrisons; insurer behemoth, the Pru, and infrastructure contractor, Balfour Beatty
Capita collapse could create bigger headache than Carillion's demise
Capita won more than 10 times the number of UK public sector contracts awarded to Carillion over the past two years, according to data firm Tussell
Capita shares rally as M&S extends digital customer contact partnership by further five years
In a statement, Capita said the contract renewal and expansion commences April 2018 and is worth approximately £70mln over the contract term
Capita shares drop as Prudential terminates contract for UK life and pensions administration
The FTSE 250-listed outsourcing group said Prudential has decided to terminate the contract as part of a wider customer and technology transformation programme
Deutsche Bank upbeat on European insurance sector, raising price targets for a swathe of UK names
The bank's analysts said insurers "look reasonably positioned – cushioned against market weakness by strong balance sheets and on PEs that are well within the long-term trading range”
FTSE 100 closes higher as US tax reform hopes cheer global traders
The UK blue chip index closed up 46.44 points at 7,537
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Aviva and Prudential are top picks for 2018, says Barclays Capital
A ‘goldilocks’ economy should allow stable delivery of dividends, says the bank's number crunchers
Analyst lauds 'terrific' Prudential's nine-month numbers
“The strength of the group's business model across the globe is unparalleled, to us, with a powerful balance sheet to match,” said Shore Capital's Eamonn Flanagan
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Insurers L&G and the Pru feel the love from Citigroup
L&G was upgraded to 'buy'; the Pru was already rated a 'buy' and has had its target price lifted
Uber calls on former BoE advisor to become UK chair as it fights to keep London licence
Last month Transport for London decided Uber was not "fit and proper to hold a private hire operator licence"
FTSE 100 holds on to gains despite late swoon
The FTSE 100 was its gains eroded as the Jackson Hole chinwag got under way
Premier Oil: Wytch Farm, Catcher start-up and game changing Mexico discovery – there’s plenty to look for in Thursday’s results
Premier Oil will be among the highlights on Thursday's City agenda
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Final trading week of August, but some big news still to come from Persimmon PLC, BHP Billiton PLC, and Antofagasta PLC
Week ahead includes first half results from Persimmon PLC, Antofagasta PLC, Cairn Energy PLC, Premier Oil PLC, WPP PLC; full year numbers from BHP Billiton PLC
Prudential sells US independent broker-dealer for US$325mln to LPL Financial LLC
Prudential has shed assets from its US business to focus on retirement products
Legal & General plans to bid for Prudential's UK annuity business
Legal & General is understood to have put money aside for a bid when Prudential’s annuity business is officially put up for sale
FTSE 100 stays weak, but off lows as US stocks rally
At 3.15pm, the UK benchmark index was down 64 points at 7,325, above the session low of 7,296.49 but still set for its worst week in nine months having dropped nearly 250 points in the last three sessions of the week
Prudential merges UK operations as Asia continues to drive profit growth in first half
Prudential expects the decision to combine its UK businesses to deliver cost savings of about £145mln per year by 2022
FTSE 100 plunges on North Korea fears
The FTSE 100 finished 108 points lower at 7,390, about 13 points above its intra-day low
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Prudential's chief Mike Wells to face questions on rumoured break-up at first half results
Prudential, Glencore and DFS Furniture are among the companies reporting results on Thursday
Prudential faces speculation of a break-up as it pulls out of UK annuity market
Investors have said Prudential has been more open to the idea of a break-up
FTSE 100 closes up but misses record high
The FTSE 100 index closed 10.79 higher at 7,542. The session peak was 7,549, and the day’s low was 7,518
FTSE 100 ends lower but European shares fare worse
London stocks were on the front foot this morning, but they quickly retreated this afternoon...
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HSBC's co-head of investment bank in line for possible promotion as next chief executive
A former Goldman Sachs financier. employed to revamp HSBC's investment bank could be set to take over as boss of the UK bank
M&G stars as Prudential profits power ahead
Group new business profit rose by a quarter to £856mln, up 25%
FTSE 100 closes lower as Trump fears grow; Dow Jones crashes
The UK blue chip index closed down 18.56 points at 7,503
Insurer Prudential gets a lift from price target hike by Jefferies international
In a note to clients, the US broker raised its target for Pru to 1,771p, from 1,640.5p, while keeping a ‘hold’ rating on the stock
Insurer Prudential gets a lift from Berenberg target hike, re-rating potential
Berenberg raised its target price for the FTSE 100-listed firm to 2,200p from 1,783p, and reiterated a ‘buy’ rating on the stock
Government to recoup £11.8bn of taxpayers' money from sale of Bradford & Bingley loans
Prudential and Blackstone have teamed up to purchase the buy-to-let mortgages of failed lender Bradford & Bingley
Pru upgraded to neutral by JP Morgan Cazenove as fears over US and UK operations recede
"We are optimistic about the Asian growth prospects as Prudential’s franchise is one of the strongest in the region," Caz said
Investments and investor services
FTSE 100 hits record high close, again
FTSE 100 stocks closed at a record high on Friday for a second successive session, after making a fresh intraday peak, and a good way for equity investors to end the week
FTSE 100 ends higher before Fed rate decision
FTSE 100 shares ended higher on Wednesday, thanks to buoyancy in the pharma and mining sectors while a US rate card was considered in the bag, priced and sold on the market
What Brexit means for UK insurers and are they equipped to weather the storm
Prudential's healthy capital buffer means the UK insurer is well placed to handle the uncertainties surrounding Brexit
Prudential's dividend yield lags behind UK insurance peers but outlook positive
Aviva and Standard Life is leading the way with dividend payments in the UK insurance sector
Prudential raises dividend as it expects to meet 2017 targets after full year profit growth
Prudential has lifted its dividend 12% after robust growth in Asia boosted full year opearting profit
FTSE shares end lower as sterling marks 8-week low vs dollar on Brexit jitters
FTSE 100 shares closed lower on Tuesday after investors turned edgy over Brexit plans which hit banking and retail shares as well as took sterling to an 8-week low against the US dollar
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Day ahead - Copper group Antofagasta and savings giant Prudential in the cross-hairs
investors will be scanning full-year results from Chilean copper producer Antofagasta, due on Tuesday, for progress on the expansion of its Los Pelambres asset
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HSBC confirms the appointment of former boss Prudential, Mark Tucker as its chairman from October 1
Tucker, who is currently group chief executive and president of Hong Kong-listed insurer AIA Group Limited (AIA) will join the global banking giant as group chairman designate from September 1, taking over from current incumbent Douglas Fli
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Antofagasta closing in on a feasibility study of expansion of Los Pelambres
Big names reporting include Antofagasta, Hikma and Robert Walters.
Prudential shares in demand; Metal Tiger and Falcon Oil & Gas strong gainers
Some of London's largest risers and fallers around 2.30pm included insurer Prudential, and small caps Metal Tiger and Falcon Oil & Gas ...
FTSE 100 closes higher with banks betting on March US rate hike
FTSE 100 shares closed higher on Wednesday, led by banking shares which teamed up with their Wall Street brethren to cheer on what may be a US rate hike as soon as March
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FTSE stocks powered higher by financials, non-farm payrolls
FTSE 100 stocks closed higher on Friday, offered a leg up by surprisingly strong US non-farm payrolls number and financial stocks confident burdensome US regulation was about to get scaled back
FTSE 100 shares close lower, tracking Dow and Donald
FTSE 100 shares closed lower on Tuesday in sympathy with declines of up to 160 points on Wall Street’s DJIA as the fallout of US President Donald Trump’s first week in office continued to take its toll
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Standard Life tops the FTSE 100 fallers as Deutsche Bank cuts rating to 'hold'
In a review of the European Insurers, the broker cut its stance on Standard Life to ‘hold’ from ‘buy’ and reduced its target price on the stock to 370p from 390p.
FTSE 100 shares taken higher by Sky
FTSE 100 shares closed higher on Friday, after Wall Street recorded another set of record high indices and it was announced just before closing time that 21st Century Fox plans to take over UK broadcaster Sky PLC
Prudential shares higher as market hails divi policy
The Prudential announced a new dividend policy on Wednesday
FTSE shares close lower with US markets on profit-taking
FTSE 100 shares closed lower after a rally flirted with the 7,000 level but petered out as investors eyed a drop by Wall Street tickers following on-going digestion of what a Donald Trump presidency means for corporates - and opted to book
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Brokers: William Hill the laggard in gambling race says Investec
William Hill, Sound Energy, Solo Oil, Prudential ....
Prudential back on the buy list at Deutsche
The headwinds facing the life insurer that intensified this year are starting to ease believes the German broker
Ocado gets another pasting over margin warning
Exane BNP Paribas downgrades online grocer after it warned of margin pressure from rivals
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London stocks mark 5th successive session of gains as financials rise
London’s blue-chip ticker ended Wednesday higher for a fifth successive session after financial stocks put weaker energy stocks in their place
FTSE 100 weighed down by weak oilers
With the oil price continuing to slide, heavily-weighted oil giants Shell and BP were dragging the top-share index lower
PREVIEW - The Pru's turn to report in financial services week
The pensions and retirment group will report numbers for the latest half year
Week Ahead: Telit expected to reveal benefit from sterling's slide
Among the big names reporting this week include insurance giants Legal & General, Old Mutual, Standard Life and Prudential
Fund managers and housing stocks plunge in wake of Standard Life property fund suspension
Investors won’t be able to buy or sell units in the fund until further notice. The managers are looking to raise cash by selling off some of the portfolio.
Investments and investor services
FTSE 100 opens 17 points down
The FTSE 100 didn't get off to a great start this morning.