Prudential plc Share Price Today (28 November 2025): Buybacks, ICICI AMC IPO and Q3 Growth Keep PRU Near 52‑Week Highs

Prudential plc’s London‑listed shares are ending November with plenty of momentum. As of the close on 28 November 2025, Prudential (LON: PRU) traded around 1,087p, down only about 0.4% on the day, but still hovering close to its 52‑week high of 1,109p and up roughly 70% over the past year. ^[1]

Behind that strong share price are three big storylines investors are watching today:

Ongoing share buybacks, including a fresh repurchase announcement on 28 November. ^[2]
A clean block‑listing review, confirming no new share issuance under employee schemes over the last six months. ^[3]
Regulatory approval for the IPO of ICICI Prudential Asset Management (ICICI Prudential AMC) in India, where Prudential intends to return the net proceeds to its own shareholders. ^[4]

Below is a breakdown of what’s moving Prudential plc stock today and how the latest news fits into the broader investment story.

Prudential share price today: PRU trades near the top of its range

On 28 November 2025, Prudential’s London‑listed shares:

Closed at about 1,087p. ^[5]
Traded in a day’s range of roughly 1,084.5p–1,091.5p. ^[6]
Sit within a 52‑week range of about 595p–1,109p, so the stock is currently very close to its yearly high. ^[7]
Have delivered c. 30% gains over six months and close to 70% over one year, based on UK broker performance tables. ^[8]

Technical indicators are reinforcing that upward trend:

A MarketBeat note published today highlights that Prudential has moved decisively above its 200‑day moving average (c. 968p) and remains above its 50‑day average (c. 1,045p). ^[9]
The same piece cites a consensus analyst target price around 1,189p, with major brokers such as Citigroup, Jefferies, JPMorgan and UBS all rating the stock “Buy” or “Overweight”. ^[10]

On simple valuation screens, Prudential looks somewhere between reasonably valued and modestly cheap relative to its growth:

UK platforms show a price/earnings ratio in the mid‑teens and a dividend yield of around 1.6%. ^[11]
MarketBeat quotes a trailing P/E near 8x and a PEG ratio around 0.4, reflecting differences in earnings definitions but pointing to a relatively low multiple for a double‑digit growth insurer. ^[12]

So the market backdrop for 28 November is: strong longer‑term uptrend, small pullback on the day, and plenty of attention on what the company is doing with its capital.

Fresh corporate actions on 28 November: buybacks and block‑listing review

Daily buyback: 257,088 shares repurchased for cancellation

The headline corporate news on 28 November 2025 is a new “Transaction in Own Shares” announcement.

According to the official RNS released via the London Stock Exchange and mirrored on Investegate and UK broker sites, Prudential: ^[13]

Bought back 257,088 ordinary shares of 5p each.
The shares were purchased on 27 November 2025 from Merrill Lynch International,
At an average price of £10.906 per share, with a low of £10.79 and high of £10.95.
The company intends to cancel the repurchased shares, reducing the outstanding share count.
After cancellation, shares in issue fall to about 2,555,531,090, which becomes the new denominator for voting‑rights disclosures.

The purchase was carried out on‑exchange in London and also qualifies as an on‑market transaction under Hong Kong’s share buy‑back rules, reflecting Prudential’s dual primary listing in London and Hong Kong. ^[14]

TipRanks’ automated news desk framed the move as part of Prudential’s effort to “optimize capital structure” and enhance shareholder value by shrinking the equity base. ^[15]

Additional buyback disclosed via US Form 6‑K

Today also saw a related filing for US investors. A Form 6‑K lodged with the US Securities and Exchange Commission (for Prudential’s NYSE‑listed ADRs, ticker PUK) reveals that: ^[16]

On 26 November 2025, Prudential repurchased 283,890 shares, again from Merrill Lynch International.
The volume‑weighted average price was £10.7809, with trades between £10.605 and £10.83.
These shares are also earmarked for cancellation.

Putting the two buybacks together:

Over 26–27 November, Prudential disclosed roughly 540,000 shares repurchased for cancellation,
At prices just below £11 per share,
As part of a much larger, multi‑year share‑buyback framework (more on that below). ^[17]

In other words, those RNS notices that look dry and bureaucratic are quietly ratcheting up earnings per share by reducing the share count day after day.

Block Listing Interim Review: no dilution from employee schemes

Alongside the buyback, Prudential also published a Block Listing Interim Review dated 28 November 2025, covering the period from 1 May to 31 October 2025. ^[18]

The key message is simple: no new shares were issued under its main share schemes during that six‑month period:

Prudential Sharesave Plan 2023
- Unallotted balance: 1,130,794 shares
- New shares issued during the period: 0
Prudential Long Term Incentive Plan 2023 and Prudential Agency LTIP
- Unallotted balance: 498,152 shares
- New shares issued: 0
Prudential International Savings‑Related Share Option Schemes (including non‑employee version)
- Unallotted balance: 49,267 shares
- New shares issued: 0

For existing shareholders, that’s a clear, mildly encouraging signal: capital is moving out through buybacks, not in through fresh equity issuance.

ICICI Prudential AMC IPO gets SEBI approval – and why PRU holders care

Today’s PRU story isn’t just about buybacks in London. It’s also about India’s booming asset‑management market.

SEBI approval and December IPO timetable

Multiple Indian business outlets — including Business Standard, Moneycontrol and Livemint — report that ICICI Prudential Asset Management Company (ICICI Prudential AMC) has now received formal approval from SEBI, India’s market regulator, to proceed with its long‑trailed IPO. ^[19]

Key details emerging from these reports and IPO documentation:

The offer size is expected to be around ₹10,000 crore (roughly $1.2bn). ^[20]
The IPO is a pure Offer for Sale (OFS) of about 1.76–1.77 crore shares – meaning no new capital goes into the AMC itself. ^[21]
The deal is being run by a large syndicate of global and domestic banks, including Citibank, ICICI Securities, Morgan Stanley and Goldman Sachs. ^[22]
The indicative timetable points to a launch in the second week of December, contingent on final market conditions. ^[23]

Recent articles suggest the joint venture is targeting a valuation in the region of $12–12.5bn, reflecting both strong profit growth (FY25 net profit of around ₹2,650 crore on revenue of roughly ₹4,683 crore) and the broader expansion of India’s mutual fund industry. ^[24]

Prudential’s message: net proceeds will be returned to shareholders

For Prudential plc investors, the crucial line isn’t about India’s SIP culture or how many crores are in the offer. It’s this statement, repeated across several official and media sources:

“It is intended that following the completion of such a divestment, the net proceeds would be returned to shareholders.” ^[25]

Prudential has:

Confirmed in its own February 2025 news release that a listing of ICICI Prudential AMC is being evaluated and that net proceeds from any stake sale will go back to shareholders. ^[26]
Reiterated through Reuters coverage and half‑year results commentary that proceeds from the IPO are earmarked for further buybacks or special distributions, on top of the existing $2bn buyback and additional planned repurchases in 2026–27. ^[27]

In other words, SEBI’s green light in India feeds directly into the equity story in London: if the valuation holds up, Prudential effectively turns a slice of its Indian AMC stake into more cash to return to its own shareholders.

Fundamental backdrop: Q3 growth and H1 results still support the rally

The strong share price and aggressive capital returns are backed by solid recent trading updates.

Q3 2025: 13% growth in new business profit

In its Q3 2025 business performance update, Prudential reported: ^[28]

New business profit of $705m, up about 13% year‑on‑year on a constant‑currency basis.
Annual Premium Equivalent (APE) sales up 10% to around $1.72bn.
A 1 percentage‑point improvement in new business margin, signalling a tilt toward higher‑margin products.

Reuters’ summary emphasised:

Double‑digit growth in Hong Kong, helped by a shift toward health and protection products.
Continued momentum at CITIC Prudential Life in mainland China.
Some drag from civil unrest and normalisation effects in Indonesia, which weighed on volumes there. ^[29]

Despite that Indonesian wobble, management said the group remains firmly on track with guidance, while reiterating plans to complete the current $2bn buyback by year‑end, then execute $500m of buybacks in 2026 and $600m in 2027. ^[30]

First‑half 2025: capital generation and dividend growth

Half‑year results, published in late August, laid the groundwork for today’s capital‑return narrative. Across several investor and media summaries: ^[31]

New business profit rose around 12% to roughly $1.26bn.
Operating free surplus from in‑force business grew roughly 14% to about $1.56bn.
Adjusted operating profit before tax was up around 6% to $1.64bn, slightly ahead of consensus expectations.
Prudential increased its first interim dividend by about 13% to 7.71 US cents per share.
The company guided for ordinary dividend growth of more than 10% per year from 2025 to 2027, and expects to return over $5bn to shareholders between 2024 and 2027, mainly via buybacks.

A Shares magazine write‑up compressed this into a neat takeaway: structural growth in Asian insurance plus a multi‑year promise of double‑digit dividend growth and multi‑billion‑dollar buybacks. ^[32]

So when you see another “Transaction in Own Shares” drop into the RNS feed today, it’s not random — it’s exactly what management has been telling investors to expect.

How analysts and big investors are reading Prudential stock

Street consensus: Buy, with upside to fair value

MarketBeat’s alert today makes three points that matter for sentiment: ^[33]

The stock has broken above its 200‑day moving average, a classic technical signal of an established uptrend.
Five major analysts (including Citigroup, Jefferies, JPMorgan and UBS) rate the shares “Buy” or “Overweight”, with an average price target around 1,189p – modestly above today’s c.1,087p price.
Longer‑term valuation models cited in recent commentary put “fair value” somewhere in the low‑£12s per share, implying the stock still trades at a low‑to‑mid‑teens discount to those intrinsic value estimates. TechStock²

That doesn’t guarantee anything, but it does explain why PRU has continued to attract buyers even after a near‑70% 12‑month rally.

Norges Bank stake: a vote of confidence, with caveats

Institutional flows also matter, and here the most eye‑catching disclosure this quarter came from Norges Bank, Norway’s giant sovereign wealth manager.

GuruFocus reports that on 30 September 2025, Norges Bank acquired 113,015,283 Prudential shares at $27.99 per share, making the stock about 0.39% of its equity portfolio. ^[34]

The same article notes that:

Prudential’s year‑to‑date price gain at that point was about 79%,
Three‑year revenue growth was mildly negative (around –14.7%), and
GuruFocus’s proprietary “GF Value” model actually labelled the stock “significantly overvalued”, with a score suggesting only moderate long‑term return potential. ^[35]

That tension — big, sophisticated money buying into a name that some quantitative models call expensive — sums up the current debate around PRU quite neatly.

Key risks and what to watch next

None of this removes risk. Today’s bullish tone coexists with several important uncertainties:

Emerging‑market exposure
Prudential’s growth engine is concentrated in Asia and Africa, from Hong Kong and mainland China through ASEAN markets like Indonesia. That brings higher structural growth but also greater sensitivity to political risk, regulatory change and local disruptions — as seen with the recent civil unrest impact in Indonesia. ^[36]
Market and interest‑rate sensitivity
Like all life and health insurers, Prudential’s capital position and earnings are tightly linked to interest rates, equity markets and FX moves between the US dollar, sterling and Asian currencies. Volatile macro conditions can quickly feed into solvency ratios and earnings volatility. ^[37]
Execution on the ICICI Prudential AMC IPO
SEBI’s approval is a big step, but the eventual pricing and investor demand for the IPO will determine how much value is actually unlocked for Prudential shareholders — and how much extra firepower is available for buybacks and special returns. ^[38]
Valuation and expectations
After a sharp re‑rating, the bar for continued outperformance is higher. Some models flag PRU as overvalued relative to intrinsic value estimates, while others argue it still trades at a discount to Asian peers. ^[39]

In other words: the story is attractive, but it’s no free lunch.

Bottom line for 28 November 2025

For 28 November 2025, the Prudential plc stock story looks like this:

Share price: hovering around 1,087p, close to a 52‑week high after a strong year. ^[40]
Capital returns: daily RNS notices confirm steady buybacks (over half a million shares repurchased and cancelled across 26–27 November alone), on top of a multi‑year programme exceeding $5bn plus more planned. ^[41]
Growth: Q3 and H1 numbers still show double‑digit growth in new business profit and rising margins in core Asian markets. ^[42]
Catalysts: SEBI approval for the ICICI Prudential AMC IPO gives Prudential another lever for returning cash to shareholders, potentially as early as December, while also highlighting its exposure to India’s rapidly expanding savings market. ^[43]

For investors tracking PRU today, the key question isn’t whether Prudential is doing “shareholder‑friendly” things — it clearly is. The real question is whether the current share price already bakes in the growth, the buybacks and the Indian IPO upside, or whether there’s still more rerating left as those plans are executed through 2026 and beyond.

PRU to $1000? The Truth About Prudential’s Future Revealed!