Standard Life (LON:SDLF) Reaches New 52-Week High Following Analyst Upgrade

Shares of Standard Life (LON:SDLF) reached a new 52-week high during trading on Tuesday after Royal Bank Of Canada upgraded the stock to an outperform rating. Royal Bank Of Canada now has a GBX 870 price target on the stock, up from their previous price target of GBX 800. Standard Life traded as high as GBX 778.80 and last traded at GBX 778, with a volume of 6402700 shares changing hands. The stock had previously closed at GBX 761.40.

Several other research analysts have also weighed in on the stock. Berenberg Bank upped their target price on shares of Standard Life from GBX 852 to GBX 918 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Citigroup increased their target price on Standard Life from GBX 769 to GBX 840 and gave the company a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Standard Life from GBX 605 to GBX 620 and gave the company an “underweight” rating in a research report on Thursday, February 5th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 812.

Insider Transactions at Standard Life

In other Standard Life news, insider Katie Murray acquired 7,350 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was bought at an average price of GBX 675 per share, with a total value of £49,612.50. Insiders have purchased 7,390 shares of company stock worth $4,983,050 in the last ninety days. 3.09% of the stock is owned by insiders.

Standard Life Trading Up 2.4%

The stock has a market cap of £7.81 billion and a PE ratio of -16.55.

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

Standard Life Company Profile

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.