LONDON (ShareCast) - Prudential, the FTSE 100-listed financial services giant Prudential, saw a member of its board double his stake in the company on Monday as he took advantage of the recent weakness in the share price.

Alistair Johnston, a former partner of KPMG who joined the Prudential board as an Independent Non-Executive Director in January 2012, bought 5,000 shares in the company at a price of 1,037p each, spending £51,850.

This raised his holding to 10,000 shares, equal to just less than 0.0004% of the firm.

As of Friday’s closing price (1,040p), the stock had fallen by 13.5% since hitting a 52-week and multi-year high of 1,203p just a month earlier, as emerging markets-focused financial stocks bore the brunt of market volatility.

Earlier this month when the share price was around 1,055p (as of June 11th), broker Morgan Stanley said that “concerns over higher real yields and consequent lower economic growth in emerging markets have driven a recent sell-off in [Prudential] shares”.

Analysts reiterated their ‘overweight’ rating for the stock, saying that the recent sell-off could create an “attractive entry point”.


Top Director Buys

Homeserve (HSV)
Director name: Mr Richard Harpin
Amount purchased: 74,853 @ 277.60p
Value: £207,792

Homeserve (HSV)
Director name: Mr Martin Bennett
Amount purchased: 50,890 @ 277.60p
Value: £141,271

Banco Santander SA (BNC)
Director name: Mr Vittorio C. Lioi
Amount purchased: 17,585 @ 457.11p
Value: £80,383

Homeserve (HSV)
Director name: Mr Johnathan Ford
Amount purchased: 19,996 @ 277.60p
Value: £55,509

Prudential (PRU)
Director name: Alistair Johnston
Amount purchased: 5,000 @ 1,037p
Value: £51,850

F&C Asset Management (FCAM)
Director name: Mr Edward Bramson
Amount purchased: 36,000 @ 94.07p
Value: £33,865

Trap Oil Group (TRAP)
Director name: Mr Scott Richardson Brown
Amount purchased: 270,000 @ 10.75p
Value: £29,025

Edinburgh Dragon Trust (EFM)
Director name: Mr Allan Mckenzie
Amount purchased: 10,000 @ 260.78p
Value: £26,078

Halfords Group (HFD)
Director name: Mr Andrew Findlay
Amount purchased: 6,504 @ 305.75p
Value: £19,886


Top Director Sells

LMS Capital (LMS)
Director name: Mr Bernard J. Duroc-Danner
Amount sold: 20,639 @ 75.00p
Value: £15,479

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