Prudential (LON:PRU) Trading Down 6.4% – What’s Next?

Prudential plc (LON:PRU) shares traded down 6.4% during mid-day trading on Wednesday . The company traded as low as GBX 949.40 and last traded at GBX 1,025. 20,211,518 shares changed hands during mid-day trading, an increase of 44% from the average session volume of 14,004,230 shares. The stock had previously closed at GBX 1,095.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their target price on shares of Prudential from GBX 1,450 to GBX 1,480 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of GBX 1,379.

Prudential Stock Performance

The firm has a market capitalization of £26.16 billion, a PE ratio of 6.85, a P/E/G ratio of 0.40 and a beta of 0.90. The business’s 50 day moving average price is GBX 1,035.26 and its 200-day moving average price is GBX 1,091.81.

Insider Transactions at Prudential

In other Prudential news, insider Anil Wadhwani acquired 36 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of GBX 1,139 per share, for a total transaction of £410.04. Also, insider Douglas Flint bought 12,500 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of GBX 959 per share, for a total transaction of £119,875. Insiders have purchased a total of 24,536 shares of company stock valued at $23,860,504 over the last 90 days. 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.