Prudential (LON:PRU) Hits New 52-Week High - Time to Buy?

Key Points

• Prudential plc reached a new 52-week high, trading at GBX 1,029 ($13.92), with a significant trading volume of over 10 million shares.
• Several analysts have issued new price targets for Prudential, with UBS Group setting a target of GBX 1,200 and Citigroup lowering theirs to GBX 1,122, while the company holds an average rating of "Buy".
• Insider purchases have been noted, with George David Sartorel acquiring 1,000 shares and Guido Fürer purchasing 13,000 shares at an average price of GBX 966 each.

Prudential plc (LON:PRU - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 1,029 ($13.95) and last traded at GBX 1,025.37 ($13.90), with a volume of 10280691 shares traded. The stock had previously closed at GBX 993.60 ($13.47).

Analyst Upgrades and Downgrades

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

Prudential Stock Performance

The stock has a market capitalization of £26.30 billion, a P/E ratio of 800.31, a P/E/G ratio of 0.40 and a beta of 1.20. The stock has a 50 day moving average of GBX 961.22 and a 200 day moving average of GBX 870.63. The company has a debt-to-equity ratio of 24.44, a quick ratio of 0.67 and a current ratio of 1.86.

Insiders Place Their Bets

In related news, insider George David Sartorel acquired 1,000 shares of the stock in a transaction that occurred on Thursday, June 19th. The stock was purchased at an average cost of GBX 879 per share, for a total transaction of £8,790. Also, insider Guido Fürer bought 13,000 shares of the business's stock in a transaction on Friday, August 29th. The shares were acquired 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).