Prudential (PRU) Trading 0% Higher After Analyst Upgrade
Prudential plc (LON:PRU) shares traded up 0% during mid-day trading on Thursday after Deutsche Bank raised their price target on the stock from GBX 2,000 to GBX 2,050. Deutsche Bank currently has a buy rating on the stock. Prudential traded as high as GBX 1,901 ($25.42) and last traded at GBX 1,898 ($25.38). 3,692,172 shares changed hands during trading, a decline of 3% from the average session volume of 3,810,000 shares. The stock had previously closed at GBX 1,898 ($25.38).
A number of other research analysts also recently issued reports on PRU. Goldman Sachs Group set a GBX 2,040 ($27.28) price objective on shares of Prudential and gave the company a “buy” rating in a research report on Tuesday, November 21st. Credit Suisse Group restated an “outperform” rating and set a GBX 2,075 ($27.74) target price on shares of Prudential in a report on Tuesday, November 7th. Societe Generale restated a “hold” rating and set a GBX 1,790 ($23.93) target price on shares of Prudential in a report on Friday, November 17th. Barclays restated an “overweight” rating and set a GBX 2,161 ($28.89) target price on shares of Prudential in a report on Monday, December 18th. Finally, Shore Capital restated a “buy” rating on shares of Prudential in a report on Thursday, November 16th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of GBX 2,023.63 ($27.06).
In other news, insider David J. A. Law purchased 2,162 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were bought at an average price of GBX 1,837 ($24.56) per share, for a total transaction of £39,715.94 ($53,103.28). Also, insider Anne Richards bought 21,408 shares of the stock in a transaction on Monday, December 4th. The shares were bought at an average price of GBX 1,833 ($24.51) per share, for a total transaction of £392,408.64 ($524,680.63). In the last quarter, insiders purchased 23,600 shares of company stock worth $43,267,308.
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Prudential Public Limited Company is an international financial services company. The Company offers a range of retail financial products and services and asset management services throughout these territories. The Company operates through Insurance operations and Asset management operations. The retail financial products and services include life insurance, pensions and annuities as well as collective investment schemes.
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