Prudential (LON:PRU) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Prudential plc (LON:PRU)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 968.44 and traded as high as GBX 1,083.50. Prudential shares last traded at GBX 1,081, with a volume of 3,800,281 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citigroup decreased their price target on Prudential from GBX 1,142 to GBX 1,122 and set a “buy” rating for the company in a research note on Monday, September 1st. Jefferies Financial Group restated a “buy” rating and set a GBX 1,350 price objective on shares of Prudential in a report on Monday, September 22nd. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Prudential in a research note on Thursday, October 30th. Finally, UBS Group reissued a “buy” rating and set a GBX 1,200 target price on shares of Prudential in a research report on Friday, August 15th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 1,189.40.

Prudential Stock Up 2.0%

The company has a market capitalization of £27.50 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 0.40 and a beta of 1.20. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 24.44. The business’s 50-day simple moving average is GBX 1,044.81 and its 200-day simple moving average is GBX 968.44.

Insider Activity

In related news, insider Guido Fürer acquired 13,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was acquired at an average price of GBX 966 per share, for a total transaction of £125,580. Insiders own 0.46% of the company’s stock.

About Prudential

Prudential plc provides life and health insurance and asset management in 24 markets across Asia and Africa. Prudential’s mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (2378) and the London Stock Exchange (PRU).