Prudential (LON:PRU) Reaches New 52-Week High - Here's Why

Key Points

• Prudential plc's shares reached a new 52-week high during trading, hitting GBX 1,040.50 ($14.15) before closing at GBX 1,030 ($14.01).
• Analyst ratings show a consensus "Buy" rating for Prudential, with target prices ranging from GBX 1,122 to GBX 1,200.
• Insider transactions include significant purchases, with Guido Fürer acquiring 13,000 shares at an average price of GBX 966, highlighting insider confidence in the stock.

Prudential plc (LON:PRU - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 1,040.50 ($14.15) and last traded at GBX 1,030 ($14.01), with a volume of 9523519 shares. The stock had previously closed at GBX 1,028.45 ($13.99).

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup dropped their price target on shares of Prudential from GBX 1,142 to GBX 1,122 and set a "buy" rating on the stock in a research note on Monday, September 1st. UBS Group reaffirmed a "buy" rating and set a GBX 1,200 price target on shares of Prudential in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a GBX 1,150 price objective on shares of Prudential in a research note on Wednesday, July 16th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of GBX 1,118.

Prudential Stock Down 1.7%

The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 24.44. The stock has a market capitalization of £25.84 billion, a P/E ratio of 786.32, a P/E/G ratio of 0.40 and a beta of 1.20. The stock's 50 day simple moving average is GBX 963.81 and its 200 day simple moving average is GBX 872.74.

Insider Buying and Selling at Prudential

In other Prudential news, insider Guido Fürer bought 13,000 shares of the stock in a transaction on Friday, August 29th. The stock was purchased at an average price of GBX 966 per share, for a total transaction of £125,580. Also, insider George David Sartorel bought 1,000 shares of the stock in a transaction on Thursday, June 19th. The shares were acquired at an average price of GBX 879 per share, with a total value of £8,790. 0.46% of the stock is owned by insiders.

Prudential Company Profile

Prudential plc provides life and health insurance and asset management in 24 markets across Asia and Africa. Prudential's mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU).

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