Hargreaves Lansdown

Director dealings: Prudential execs buy-in near 52-week highs

Sun 01 October 2017 22:12 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

(ShareCast News) - Two of Prudential's top directors have picked up significant amounts of stock in the insurer even as the share price continues to hover near its 52-week highs.

On Friday, Anthony Nightingale, the chair of Prudential's remuneration committee, bought 20,000 shares at 1,788p apiece, for a total of £357,600.

He was following on the footsteps of another member of the remuneration committee, recently-appointed Thomas Watjen, who picked up 2,750 american depositary receipts of the insurer at a price of $47.822 each, for a grand total of $131,510.5.

On 16 August, Prudential offloaded its US independent broker-dealer network for a fee that could rise to $448m as the life insurer looks to trim the fat.

The day before, analysts at Deutsche Bank reiterated a 'buy' recommendation and 2,000p target price on the stock on the back of the insurer's latest set of interims, which led hem to forecast growth of 11% in underlyiing profits in 2018 and 2018.

"On a PE

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.

    More directors dealings from ShareCast

    Latest economy and stock market articles