Standard Life (LON:SDLF) Hits New 52-Week High After Analyst Upgrade

Standard Life (LON:SDLF)’s stock price reached a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from GBX 620 to GBX 950. JPMorgan Chase & Co. currently has an overweight rating on the stock. Standard Life traded as high as GBX 787 and last traded at GBX 785.20, with a volume of 26363625 shares changing hands. The stock had previously closed at GBX 772.18.

Other research analysts also recently issued research reports about the company. Royal Bank Of Canada raised Standard Life to an “outperform” rating and increased their price target for the company from GBX 800 to GBX 870 in a research note on Tuesday, April 21st. Citigroup raised their target price on Standard Life from GBX 769 to GBX 840 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Berenberg Bank boosted their target price on Standard Life from GBX 852 to GBX 918 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 894.50.

Insiders Place Their Bets

In other news, insider Katie Murray bought 7,350 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was acquired at an average cost of GBX 675 per share, for a total transaction of £49,612.50. Insiders have acquired a total of 7,444 shares of company stock valued at $5,013,546 over the last ninety days. 3.16% of the stock is currently owned by company insiders.

Standard Life Trading Up 1.7%

The stock has a market cap of £7.87 billion and a price-to-earnings ratio of -16.67. The stock’s fifty day simple moving average is GBX 722.57.

Standard Life (LON:SDLF) last issued its quarterly earnings data on Monday, March 16th. The company reported GBX 54.30 earnings per share (EPS) for the quarter.

About Standard Life

Standard Life is a long-established provider of retirement, savings and investment products, historically known for life assurance, pensions and asset management. Its offerings have included workplace and personal pension plans, individual savings accounts (ISAs), annuities and a range of investment funds and wealth-management services aimed at both individual and institutional clients. The firm has traditionally distributed products through financial advisers, workplace channels and direct platforms.

Founded in 1825 and historically headquartered in Edinburgh, Standard Life built a strong presence in the U.K.