Prudential (LON:PRU) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Prudential stock crossed above its 200‑day moving average, trading as high as GBX 1,204 and last at GBX 1,168 on heavy volume of about 13.2 million shares.
• Analysts have lifted targets and remain positive — Citigroup, Deutsche Bank and JPMorgan raised price objectives and the consensus from five analysts is a Buy with an average target of GBX 1,379.
• The company has a market cap of £28.77bn and a low P/E of 7.49, and insiders showed modest buying (Anil Wadhwani bought 37 shares at GBX 1,127).

Shares of Prudential plc (LON:PRU - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,111.46 and traded as high as GBX 1,204. Prudential shares last traded at GBX 1,168, with a volume of 13,209,550 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Citigroup boosted their price objective on shares of Prudential from GBX 1,122 to GBX 1,425 and gave the stock a "buy" rating in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Prudential from GBX 1,355 to GBX 1,440 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Prudential from GBX 1,450 to GBX 1,480 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of GBX 1,379.

Prudential Trading Down 1.6%

The company has a market cap of £28.77 billion, a P/E ratio of 7.49, a PEG ratio of 0.40 and a beta of 0.91. The business has a 50 day moving average price of GBX 1,097.66 and a 200-day moving average price of GBX 1,111.46.

Insiders Place Their Bets

In other news, insider Anil Wadhwani bought 37 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were acquired at an average cost of GBX 1,127 per share, for a total transaction of £416.99. Insiders own 0.48% 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). 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.

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