Citigroup Cuts Prudential (LON:PRU) Price Target to GBX 1,400

Prudential (LON:PRU – Free Report) had its price objective decreased by Citigroup from GBX 1,425 to GBX 1,400 in a research report sent to investors on Friday morning, Marketbeat reports. Citigroup currently has a buy rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on PRU. Berenberg Bank restated a “buy” rating and issued a GBX 1,445 target price on shares of Prudential in a research note on Thursday. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,500 target price on shares of Prudential in a report on Friday, August 28th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of GBX 1,453.

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Prudential Stock Performance

LON PRU opened at GBX 1,032.52 on Friday. The company has a market capitalization of £25.41 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 0.40 and a beta of 0.90. The business’s fifty day moving average is GBX 1,044.86 and its 200 day moving average is GBX 1,069.38. Prudential has a fifty-two week low of GBX 910.20 and a fifty-two week high of GBX 1,238.

Insider Buying and Selling

In other Prudential news, insider Douglas Flint acquired 12,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was acquired at an average cost of GBX 986 per share, for a total transaction of £118,320. Insiders own 0.52% of the company’s stock.

About Prudential

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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.

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