Prudential (LON:PRU) Sets New 1-Year High - Time to Buy?

Key Points

• Prudential plc shares reached a new 52-week high of GBX 1,051 ($14.09), reflecting strong trading volume and investor interest.
• Several analyst firms, including Citigroup and Jefferies Financial Group, maintain a "buy" rating for Prudential, with target prices ranging from GBX 1,122 to GBX 1,350.
• Younger investor engagement is noted, with insider Guido Fürer purchasing 13,000 shares at an average cost of GBX 966, indicating confidence in the company’s prospects.

Prudential plc (LON:PRU - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as GBX 1,051 ($14.09) and last traded at GBX 1,049.50 ($14.07), with a volume of 9820170 shares changing hands. The stock had previously closed at GBX 1,034.41 ($13.87).

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PRU shares. Citigroup lowered their price objective on Prudential from GBX 1,142 to GBX 1,122 and set a "buy" rating on the stock in a report on Monday, September 1st. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 1,350 price objective on shares of Prudential in a report on Monday, September 22nd. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a GBX 1,150 price objective on shares of Prudential in a report on Wednesday, July 16th. Finally, UBS Group reiterated a "buy" rating and set a GBX 1,200 price target on shares of Prudential in a research report on Friday, August 15th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of GBX 1,164.40.

Prudential Stock Performance

The stock's 50-day moving average price is GBX 982.53 and its 200-day moving average price is GBX 890.66. The company has a market capitalization of £27.00 billion, a price-to-earnings ratio of 821.75, a P/E/G ratio of 0.40 and a beta of 1.20. The company has a debt-to-equity ratio of 24.44, a quick ratio of 0.67 and a current ratio of 1.86.

Insider Activity

In related news, insider Guido Fürer acquired 13,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was purchased at an average cost of GBX 966 per share, for a total transaction of £125,580. 0.46% of the stock is owned by corporate insiders.

About Prudential

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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