Prudential (LON:PRU) Hits New 1-Year Low – Here’s What Happened

Shares of Prudential plc (LON:PRU) hit a new 52-week low during trading on Thursday. The company traded as low as GBX 906.60 and last traded at GBX 909.80, with a volume of 38412102 shares traded. The stock had previously closed at GBX 931.40.

Analysts Set New Price Targets

PRU has been the subject of several analyst reports. Citigroup lowered their price objective on Prudential from GBX 1,425 to GBX 1,400 and set a “buy” rating for the company in a research report on Friday, September 4th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,445 price target on shares of Prudential in a report on Thursday, September 24th. Finally, Jefferies Financial Group reissued a “buy” rating and set a GBX 1,500 price objective on shares of Prudential in a report on Friday, August 28th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 1,453.

Prudential Stock Performance

The business has a 50-day simple moving average of GBX 1,013.41 and a two-hundred day simple moving average of GBX 1,050.67. The company has a market capitalization of £22.59 billion, a price-to-earnings ratio of 6.46, a PEG ratio of 0.40 and a beta of 0.89.

Insider Activity

In other news, insider Anil Wadhwani purchased 42 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was purchased at an average cost of GBX 990 per share, with a total value of £415.80. 0.52% of the stock is currently owned by company 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). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts.