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Prudential plc (PUK) H2 2023 Earnings Call Transcript

Prudential (PUK) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

U.K. Dividend Stocks Portfolio: 2023 Year-End Review

Investors interested in Insurance - Multi line stocks are likely familiar with Everest Group (EG) and Prudential (PUK). But which of these two stocks offers value investors a better bang for their buck right now?

Prudential stock has been punished all year for its greater China exposure. The ex-China business is, however, still growing strongly, while Hong Kong has continued to defy expectations. At the current low-teens earnings multiple, I think Prudential should quite easily grow into its valuation over time.

Prudential has strong operating momentum and growth prospects, particularly in Asia. The company reported good sales and earnings growth in 9M 2023, driven by strong consumer demand in China and other Asian countries. Prudential's current valuation is attractive compared to its history and peers, making it an interesting growth play in the European insurance sector.

Investors interested in Insurance - Multi line stocks are likely familiar with Ageas SA (AGESY) and Prudential (PUK). But which of these two stocks is more attractive to value investors?

Prudential plc, a life insurer, has experienced poor share price performance despite strong earnings and dividends growth. Lessons for income-focused investors: avoid companies with multiple unrelated businesses and don't make optimistic assumptions about future growth rates. Selling Prudential at a loss is a rational decision due to its lack of focus, weak competitive advantages, and unattractive share price and dividend yield.

Prudential chief executive Anil Wadhwani has sold Barclays on his strategy for the future, with the bank saying it is an ambitious, well-rounded and (in its view) achievable growth plan. Upgrading technology, increasing adoption of digital tools, improving agency and bancassurance productivity and targeting scale in health insurance are key self-help measures.

Prudential has been grappling with strict COVID containment policies in Greater China, which has battered its business in Hong Kong. Although still well down from pre-COVID levels, there are signs that visitor numbers and business are recovering. Along with a recovery in Hong Kong, Prudential has great growth prospects in developing Asian markets.