Prudential (LON:PRU) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• Prudential plc shares have crossed above their 200-day moving average, with the current share price at GBX 1,026 ($13.67), indicating potential bullish momentum.
• Analysts are optimistic about Prudential, with five giving it a Buy rating and a consensus target price of GBX 1,189.40, suggesting expected growth in the stock value.
• Insider Guido Fürer purchased 13,000 shares at GBX 966 each, reflecting confidence in the company's future performance among its management.

Prudential plc (LON:PRU - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 909.19 ($12.11) and traded as high as GBX 1,026 ($13.67). Prudential shares last traded at GBX 1,026 ($13.67), with a volume of 4,506,416 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Prudential from GBX 1,200 to GBX 1,275 and gave the stock an "overweight" rating in a research note on Monday. Citigroup decreased their target price on shares of Prudential from GBX 1,142 to GBX 1,122 and set a "buy" rating on the stock in a research note on Monday, September 1st. UBS Group reissued a "buy" rating and issued a GBX 1,200 target price on shares of Prudential in a research note on Friday, August 15th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a GBX 1,350 target price on shares of Prudential in a research note on Monday, September 22nd. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of GBX 1,189.40.

Prudential Trading Up 0.4%

The stock has a market cap of £26.25 billion, a PE ratio of 800.47, a price-to-earnings-growth ratio of 0.40 and a beta of 1.20. The company has a debt-to-equity ratio of 24.44, a quick ratio of 0.67 and a current ratio of 1.86. The company's 50-day moving average price is GBX 1,005.11 and its 200 day moving average price is GBX 909.19.

Insider Activity at Prudential

In other news, insider Guido Fürer purchased 13,000 shares of Prudential stock in a transaction dated Friday, August 29th. The shares were purchased at an average price of GBX 966 per share, with a total value of £125,580. Insiders own 0.46% of the company's stock.

Prudential Company Profile

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).

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