Prudential (LON:PRU) Shares Cross Above 200 Day Moving Average – Here’s Why

Prudential plc (LON:PRU) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,099.13 and traded as high as GBX 1,135. Prudential shares last traded at GBX 1,111, with a volume of 435,225,688 shares changing hands.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research analyst reports. Citigroup upped their price target on shares of Prudential from GBX 1,122 to GBX 1,425 and gave the company a “buy” rating in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Prudential from GBX 1,355 to GBX 1,440 and gave the company a “buy” rating in a research report on Thursday, March 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of Prudential from GBX 1,500 to GBX 1,450 and set an “overweight” rating on the stock in a research report on Thursday, March 26th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 1,373.

Prudential Stock Performance

The business has a 50 day moving average of GBX 1,107.37 and a two-hundred day moving average of GBX 1,099.13. The firm has a market capitalization of £27.89 billion, a price-to-earnings ratio of 7.24, a P/E/G ratio of 0.40 and a beta of 0.90.

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). It also has a secondary listing on the Singapore Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the form of American Depositary Receipts.