Prudential (LON:PRU) Hits New 52-Week High – Here’s What Happened

Prudential plc (LON:PRU) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 1,126.50 and last traded at GBX 1,122.19, with a volume of 26961400 shares traded. The stock had previously closed at GBX 1,105.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Citigroup decreased their price objective on shares of Prudential from GBX 1,142 to GBX 1,122 and set a “buy” rating on the stock in a report on Monday, September 1st. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Prudential in a research note on Thursday, October 30th. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 1,350 price objective on shares of Prudential in a research report on Monday, September 22nd. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Prudential currently has a consensus rating of “Buy” and a consensus target price of GBX 1,189.40.

Prudential Stock Up 2.1%

The firm’s 50 day moving average price is GBX 1,061.58 and its 200-day moving average price is GBX 992.91. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 24.44. The company has a market cap of £28.63 billion, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 0.40 and a beta of 1.20.

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).