M&G (LON:MNG) Hits New 52-Week High – Time to Buy?

M&G plc (LON:MNG)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 344.50 and last traded at GBX 344.48, with a volume of 2834342 shares changing hands. The stock had previously closed at GBX 342.71.

Wall Street Analyst Weigh In

A number of research firms recently commented on MNG. Royal Bank Of Canada lifted their price target on M&G from GBX 260 to GBX 285 and gave the stock a “sector perform” rating in a report on Tuesday, April 7th. Citigroup raised their price objective on M&G from GBX 2,880 to GBX 2,950 and gave the company a “neutral” rating in a research report on Tuesday, June 9th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 215 target price on shares of M&G in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on M&G from GBX 315 to GBX 325 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, UBS Group restated a “neutral” rating and issued a GBX 300 price target on shares of M&G in a research note on Tuesday, May 5th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of GBX 677.86.

M&G Stock Up 0.7%

The firm has a market cap of £8.22 billion, a P/E ratio of 28.06, a P/E/G ratio of -2.76 and a beta of 0.94. The firm’s fifty day moving average is GBX 315.97 and its 200 day moving average is GBX 303.74. The company has a debt-to-equity ratio of 220.41, a quick ratio of 0.39 and a current ratio of 1.92.

Insider Transactions at M&G

In other news, insider Elisabeth Stheeman acquired 3,150 shares of M&G stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of GBX 314 per share, for a total transaction of £9,891. 0.13% of the stock is owned by company insiders.

M&G Company Profile

M&G plc is a leading savings and investments business, managing investments for both individuals and for large institutional investors, such as pension funds, around the world.

We have a single corporate identity, M&G plc, and two customer-facing brands: Prudential and M&G Investments. Prudential offers savings and insurance for customers in the UK and Europe and for asset management in South Africa. M&G Investments manages assets for clients globally.

With roots stretching back more than 170 years, we have a long history of finding innovative solutions for our customers’ changing needs.