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

Prudential plc (LON:PRU)’s share price hit a new 52-week high during mid-day trading on Monday . The stock 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 traded. The stock had previously closed at GBX 1,034.41 ($13.87).

Analyst Ratings Changes

PRU has been the subject of several research reports. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 1,150 price objective on shares of Prudential in a research report on Wednesday, July 16th. UBS Group reiterated a “buy” rating and issued a GBX 1,200 price target on shares of Prudential in a report on Friday, August 15th. Citigroup cut their price target on Prudential from GBX 1,142 to GBX 1,122 and set a “buy” rating for the company in a report on Monday, September 1st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,350 price target on shares of Prudential in a report on Monday, September 22nd. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Prudential currently has an average rating of “Buy” and a consensus price target of GBX 1,164.40.

Prudential Price Performance

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. The company has a fifty day simple moving average of GBX 982.53 and a two-hundred day simple moving average of GBX 890.66.

Insider Activity at Prudential

In other news, insider Guido Fürer acquired 13,000 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was acquired at an average cost of GBX 966 per share, for a total transaction of £125,580. 0.46% of the stock is currently 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).