Prudential (LON:PRU) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Prudential plc (LON:PRU)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 687.52 ($9.14) and traded as high as GBX 794.80 ($10.57). Prudential shares last traded at GBX 787.40 ($10.47), with a volume of 5,244,618 shares.

Analyst Ratings Changes

PRU has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 950 ($12.63) price objective on shares of Prudential in a research report on Thursday, March 20th. Bank of America reaffirmed a “buy” rating and set a GBX 1,000 ($13.30) target price on shares of Prudential in a report on Thursday, March 20th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Prudential has an average rating of “Buy” and a consensus price target of GBX 1,188 ($15.80).

Prudential Stock Performance

The firm’s 50-day simple moving average is GBX 756.05 and its two-hundred day simple moving average is GBX 687.52. The company has a current ratio of 1.86, a quick ratio of 0.67 and a debt-to-equity ratio of 24.44. The stock has a market capitalization of £25.91 billion, a PE ratio of 39.33, a PEG ratio of 0.40 and a beta of 1.20.

Prudential Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Thursday, March 27th will be issued a dividend of $0.16 per share. This is an increase from Prudential’s previous dividend of $0.07. The ex-dividend date of this dividend is Thursday, March 27th. This represents a dividend yield of 1.58%. Prudential’s payout ratio is currently 84.92%.

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).