M&G (LON:MNG) Reaches New 52-Week High – What’s Next?

Shares of M&G plc (LON:MNG) hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 349.30 and last traded at GBX 347.70, with a volume of 18188676 shares. The stock had previously closed at GBX 346.50.

Wall Street Analyst Weigh In

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

M&G Stock Performance

The company has a market capitalization of £8.33 billion, a P/E ratio of 28.42, a P/E/G ratio of -2.76 and a beta of 0.94. The business has a 50-day moving average of GBX 322.47 and a 200-day moving average of GBX 306.88. The company has a debt-to-equity ratio of 220.41, a current ratio of 1.92 and a quick ratio of 0.39.

Insiders Place Their Bets

In related news, insider Elisabeth Stheeman purchased 3,150 shares of M&G stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of GBX 314 per share, with a total value of £9,891. 0.13% of the stock is currently owned by insiders.

About M&G

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.