Prudential PLC ADR

PUK: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$96.70	Xkbc	Pdtwsdxpnm

Prudential Earnings: Decent Key Performance Indicators; Shares Undervalued

Henry Heathfield

Apr 30, 2024

Prudential has reported decent key performance indicators in its business earnings update for the first quarter of this year. The headline number is the mid-single-digit percentage rise in the annual premium, equivalent to $1.625 billion, one of the highest sales numbers delivered. New business profit excluding economic hits for the first quarter came in at $810 million and that low-double-digit growth places the company in a good position to meet its 15%-20% compound annual growth target by the end of 2027. We maintain our fair value estimate and no moat rating.

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