Prudential (LON:PRU) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Prudential plc's stock price surpassed its 200-day moving average during trading, indicating potential upward momentum, with shares trading at GBX 966.40 ($13.06).
• Analysts have issued optimistic ratings for Prudential, with a consensus "Buy" rating and average target price of GBX 1,165 from various research firms.
• Prudential's market capitalization is £32.07 billion, and the company operates in 24 markets across Asia and Africa, providing insurance and asset management services.

Prudential plc (LON:PRU - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 847.46 ($11.35) and traded as high as GBX 973.61 ($13.04). Prudential shares last traded at GBX 966.40 ($12.94), with a volume of 8,357,194 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group reissued a "buy" rating and issued a GBX 1,200 price target on shares of Prudential in a research report on Friday, August 15th. Citigroup cut their target price on Prudential from GBX 1,142 to GBX 1,122 and set a "buy" rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a GBX 1,150 target price on shares of Prudential in a report on Wednesday, July 16th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of GBX 1,156.40.

Prudential Price Performance

The stock's 50 day simple moving average is GBX 948.14 and its 200-day simple moving average is GBX 854.05. The firm has a market cap of £24.97 billion, a price-to-earnings ratio of 1,160.00, 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.

Insiders Place Their Bets

In other news, insider Guido Fürer acquired 13,000 shares of the business's stock in a transaction dated Friday, August 29th. The shares were acquired at an average cost of GBX 966 per share, with a total value of £125,580. Also, insider George David Sartorel acquired 1,000 shares of Prudential stock in a transaction dated Thursday, June 19th. The stock was purchased at an average price of GBX 879 per share, with a total value of £8,790. Company 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).