Prudential (LON:PRU) Stock Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Prudential plc's stock crossed above its 200-day moving average during trading, hitting a high of GBX 984.20 ($13.32), and is currently trading at GBX 982.40 ($13.30).
• Several analysts have issued reports, with Citigroup lowering its price target from GBX 1,142 to GBX 1,122 while maintaining a "buy" rating, and others like JPMorgan Chase & Co. and UBS Group setting price targets of GBX 1,150 and GBX 1,200, respectively.
• Insider transactions include George David Sartorel acquiring 1,000 shares at GBX 879 and Guido Fürer purchasing 13,000 shares at GBX 966, indicating continued confidence from insiders.

Prudential plc (LON:PRU - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 862.23 ($11.70) and traded as high as GBX 984.20 ($13.35). Prudential shares last traded at GBX 982.40 ($13.33), with a volume of 2,825,523 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PRU shares. Citigroup dropped their price objective on 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 reiterated a "buy" rating and set a GBX 1,200 target price on shares of Prudential in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a GBX 1,150 target price on shares of Prudential in a research note on Wednesday, July 16th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Prudential currently has an average rating of "Buy" and a consensus target price of GBX 1,118.

Prudential Stock Down 0.5%

The stock has a 50 day moving average of GBX 961.22 and a 200-day moving average of GBX 869.63. The firm has a market capitalization of £26.16 billion, a P/E ratio of 796.04, a PEG 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.

Insider Transactions at Prudential

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