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

Prudential plc (LON:PRU) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 985.33 and traded as high as GBX 1,094.50. Prudential shares last traded at GBX 1,081, with a volume of 254,283,578 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRU. Citigroup cut their price objective on shares of Prudential from GBX 1,142 to GBX 1,122 and set a “buy” rating on the stock in a report on Monday, September 1st. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Prudential in a research report on Thursday, October 30th. UBS Group reaffirmed a “buy” rating and set a GBX 1,200 price objective on shares of Prudential in a research report 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 report on Monday, September 22nd. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of GBX 1,189.40.

Prudential Price Performance

The firm has a 50-day moving average of GBX 1,058.82 and a 200-day moving average of GBX 988.12. 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 firm has a market capitalization of £27.21 billion, a P/E ratio of 8.33, a PEG ratio of 0.40 and a beta of 1.20.

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).