Prudential (LON:PRU) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Shares of Prudential plc (LON:PRU) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of GBX 945.63 and traded as high as GBX 972.40. Prudential shares last traded at GBX 959.38, with a volume of 10,227,914 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PRU shares. Berenberg Bank reiterated a “buy” rating and set a GBX 1,500 price objective on shares of Prudential in a report on Thursday. Citigroup reduced their target price on shares of Prudential from GBX 1,425 to GBX 1,400 and set a “buy” rating for the company in a report on Friday, September 4th. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 1,500 target price on shares of Prudential in a research report on Thursday, October 29th. Five analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of GBX 1,464.

Prudential Stock Performance

The business has a 50 day simple moving average of GBX 942.05 and a 200-day simple moving average of GBX 1,049.37. The firm has a market capitalization of £22.57 billion, a price-to-earnings ratio of 6.49, a P/E/G ratio of 0.40 and a beta of 0.91.

Insider Buying and Selling at Prudential

In related news, insider Douglas Flint purchased 11,000 shares of the stock in a transaction dated Friday, November 6th. The shares were acquired at an average cost of GBX 922 per share, with a total value of £101,420. Also, insider Anil Wadhwani acquired 42 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was purchased at an average cost of GBX 990 per share, with a total value of £415.80. 0.52% of the stock is currently owned by company insiders.

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.