Perpetual Ltd (ASX:PPT) share price sets new 52-week high

Shares for the Australian financial services player build on previous gains to set a new 52-week high in this morning's session.

| More on:
A group of business people cheering.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Perpetual Ltd (ASX:PPT) share price hit a new 52-week high this morning, reaching a top of $39.58. Perpetual shares have now gained more than 45% since their 52-week low of $27 back in November 2020.

After setting a new record the company's share price has since slipped into the red, down 0.28% at the time of writing to $39.10.

Board reshuffling

The company also announced earlier today the appointment of a new non-executive director, Mona Aboelnaga Kanaan.

Regarding Aboelnaga Kanaan's placement, Perpetual chair Tony D'Aloisio said:

We are delighted to welcome a director of Mona's calibre to the Perpetual Board. Her deep industry knowledge and expertise, particularly in North America, will complement the Board's mix of experience and skills, and will be invaluable to Perpetual as it continues its growth globally following the recent acquisitions of Trillium Asset Management and Barrow Hanley Global Investors.

The appointment is effective today.

Perpetual share price snapshot

Shares in the company, which has been a part of Australia's financial services industry since 1886, have climbed 11% year-to-date, outpacing the S&P/ASX 200 Index (ASX: XJO), which has posted just 9%.

On current prices, Perpetual has a market capitalisation of around $2.2 billion, and trades at a price-to-earnings ratio (P/E) of around 32. Trading volume in Perpetual shares is also 40% today higher than the 20-day average for this time of day.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Man with rocket wings which have flames coming out of them.
Broker Notes

These ASX 200 shares could rise 40%+

Big returns could be on offer from these shares according to analysts.

Read more »

a man in a business suite throws his arms open wide above his head and raises his face with his mouth open in celebration in front of a background of an illuminated board tracking stock market movements.
Broker Notes

Analysts say these ASX shares are top buys in June

Brokers are urging investors to buy these shares. Let's find out why.

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors finished the trading week on a high note this Friday.

Read more »

A man in trendy clothing sits on a bench in a shopping mall looking at his phone with interest and a surprised look on his face.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Brainchip, Findi, Lottery Corp, and REA shares are falling today

These shares are ending the week in the red. But why?

Read more »

Happy teen friends jumping in front of a wall.
Share Gainers

4 ASX 200 shares leading the charge higher this week

Investors have been piling into these four ASX 200 shares this week. But why?

Read more »

Woman and man calculating a dividend yield.
REITs

What price target does Macquarie have on Goodman Group shares?

Goodman Group posted an interesting set of numbers in Q3. Here's Macquarie's take.

Read more »

A happy investor sits at his desk in front of his laptop and does the mexican wave with his arms to celebrate the returns from his ASX dividend shares
Share Gainers

Why Catapult, Champion Iron, Healthco, and Meeka Metals shares are pushing higher today

These shares are ending the week on a high. But why?

Read more »