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

Prudential plc (LON:PRU) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,118.05 and traded as high as GBX 1,150. Prudential shares last traded at GBX 1,146.50, with a volume of 2,147,000,000 shares trading hands.

Wall Street Analysts Forecast Growth

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

Prudential Stock Down 1.1%

The firm has a market cap of £28.32 billion, a PE ratio of 7.37, a PEG ratio of 0.40 and a beta of 0.91. The stock’s fifty day simple moving average is GBX 1,105.99 and its two-hundred day simple moving average is GBX 1,118.77.

Insiders Place Their Bets

In other news, insider Anil Wadhwani bought 36 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of GBX 1,139 per share, for a total transaction of £410.04. Company insiders own 0.48% 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). 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.