Prudential (LON:PRU) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Prudential plc (LON:PRU) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 717.95 ($9.70) and traded as high as GBX 841.20 ($11.37). Prudential shares last traded at GBX 832.88 ($11.26), with a volume of 3,908,437 shares.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Bank of America reiterated a “buy” rating and set a GBX 1,000 ($13.51) target price on shares of Prudential in a research report on Thursday, March 20th. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 1,000 ($13.51) target price on shares of Prudential in a research report on Monday, May 19th.

Prudential Price Performance

The company has a debt-to-equity ratio of 24.44, a current ratio of 1.86 and a quick ratio of 0.67. The firm has a market capitalization of £27.65 billion, a PE ratio of 41.98, a P/E/G ratio of 0.40 and a beta of 1.20. The company has a 50-day moving average price of GBX 806.07 and a 200-day moving average price of GBX 717.95.

Prudential Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, May 14th. Shareholders of record on Thursday, March 27th were issued a $0.16 dividend. This represents a yield of 1.58%. This is a positive change from Prudential’s previous dividend of $0.07. The ex-dividend date of this dividend was Thursday, March 27th. Prudential’s dividend payout ratio is 84.92%.

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).