Prudential (LON:PRU) Sets New 52-Week High - Here's What Happened

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) reached a new 52-week high on Wednesday . The stock traded as high as GBX 1,029 ($13.92) and last traded at GBX 1,025.37 ($13.87), with a volume of 10280691 shares trading hands. The stock had previously closed at GBX 993.60 ($13.44).

Analysts Set New Price Targets

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

Prudential Stock Up 3.2%

The firm has a 50-day moving average of GBX 954.25 and a 200 day moving average of GBX 863.14. The stock has a market capitalization of £26.18 billion, a price-to-earnings ratio of 796.71, a price-to-earnings-growth ratio of 0.40 and a beta of 1.20. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 24.44.

Insider Activity at Prudential

In related news, insider George David Sartorel purchased 1,000 shares of Prudential stock in a transaction that occurred on Thursday, June 19th. The shares were purchased at an average cost of GBX 879 per share, with a total value of £8,790. Also, insider Guido Fürer acquired 13,000 shares of the company's stock in a transaction on Friday, August 29th. The shares were acquired at an average price of GBX 966 per share, for a total transaction of £125,580. Insiders own 0.46% of the company's stock.

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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