Standard Life (LON:SDLF) Hits New 12-Month High After Analyst Upgrade

Standard Life (LON:SDLF)’s stock price hit a new 52-week high during mid-day 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.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Standard Life from GBX 605 to GBX 620 and gave the stock an “underweight” rating in a report on Thursday, February 5th. Citigroup raised their price target on shares of Standard Life from GBX 769 to GBX 840 and gave the company a “buy” rating in a report on Friday, April 17th. Finally, Berenberg Bank lifted their price objective 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. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Standard Life currently has an average rating of “Moderate Buy” and a consensus price target of GBX 812.

Insiders Place Their Bets

In other Standard Life news, insider Katie Murray bought 7,350 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average cost of GBX 675 per share, for a total transaction of £49,612.50. In the last quarter, insiders acquired 7,390 shares of company stock worth $4,983,050. 3.09% of the stock is owned by insiders.

Standard Life Stock Up 2.2%

The company has a market capitalization of £7.79 billion and a price-to-earnings ratio of -16.51.

Standard Life (LON:SDLF) last announced its quarterly earnings data on Monday, March 16th. The company reported GBX 54.30 EPS 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.