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

Prudential plc (LON:PRU - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 726.45 ($9.86) and traded as high as GBX 859.80 ($11.68). Prudential shares last traded at GBX 857 ($11.64), with a volume of 3,706,259 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRU. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a GBX 1,000 ($13.58) target price on shares of Prudential in a report on Monday, May 19th. Bank of America reaffirmed a "buy" rating and issued a GBX 1,000 ($13.58) target price on shares of Prudential in a report on Thursday, March 20th.

Prudential Stock Performance

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 stock's 50 day moving average price is GBX 808.74 and its two-hundred day moving average price is GBX 726.45. The firm has a market capitalization of £28.57 billion, a PE ratio of 43.38, a PEG ratio of 0.40 and a beta of 1.20.

Prudential Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, May 14th. Stockholders of record on Thursday, March 27th were paid a dividend of $0.16 per share. This represents a dividend yield of 1.58%. This is a boost from Prudential's previous dividend of $0.07. The ex-dividend date was Thursday, March 27th. Prudential's dividend payout ratio (DPR) is 84.92%.

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).