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