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

Prudential plc (LON:PRU)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 1,237 and last traded at GBX 1,215.70, with a volume of 7610553 shares. The stock had previously closed at GBX 1,206.

Analysts Set New Price Targets

PRU has been the subject of several research reports. Citigroup lifted their price objective on shares of Prudential from GBX 1,122 to GBX 1,425 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. raised their target price on Prudential from GBX 1,325 to GBX 1,500 and gave the stock an “overweight” rating in a report on Friday, January 9th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, Prudential presently has a consensus rating of “Buy” and an average price target of GBX 1,295.

Prudential Trading Down 3.3%

The company has a quick ratio of 0.67, a current ratio of 1.86 and a debt-to-equity ratio of 24.44. The firm has a market cap of £29.67 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 0.40 and a beta of 1.20. The company’s 50-day moving average price is GBX 1,152.63 and its 200-day moving average price is GBX 1,062.82.

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.