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

Prudential (LON:PRU) had its price objective reduced by equities researchers at Citigroup from GBX 1,425 to GBX 1,400 in a note issued to investors on Friday, London Stock Exchange reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price would indicate a potential upside of 35.53% from the stock’s current price.

Several other research analysts have also recently issued reports on PRU. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,500 price objective on shares of Prudential in a research report on Friday, August 28th. Berenberg Bank restated a “buy” rating and set a GBX 1,445 target price on shares of Prudential in a research report on Thursday. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Prudential currently has a consensus rating of “Buy” and a consensus target price of GBX 1,453.

Prudential Price Performance

PRU opened at GBX 1,033 on Friday. The business has a 50 day simple moving average of GBX 1,044.34 and a 200-day simple moving average of GBX 1,069.79. The stock has a market capitalization of £25.69 billion, a P/E ratio of 6.73, a P/E/G ratio of 0.40 and a beta of 0.90. Prudential has a 12 month low of GBX 910.20 and a 12 month high of GBX 1,238.

Insider Activity

In other news, insider Douglas Flint purchased 12,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were acquired at an average price of GBX 986 per share, with a total value of £118,320. Insiders own 0.52% of the company’s stock.

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.