M&G (LON:MNG) Hits New 12-Month High – What’s Next?

M&G plc (LON:MNG) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 269.70 ($3.63) and last traded at GBX 268.81 ($3.62), with a volume of 3534823 shares trading hands. The stock had previously closed at GBX 268 ($3.61).

Analysts Set New Price Targets

Several analysts recently issued reports on MNG shares. Royal Bank Of Canada lifted their target price on M&G from GBX 225 to GBX 240 and gave the company a “sector perform” rating in a research note on Thursday, July 24th. Citigroup lifted their target price on M&G from GBX 214 to GBX 260 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lifted their target price on M&G from GBX 290 to GBX 305 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Finally, UBS Group reaffirmed a “buy” rating and issued a GBX 275 price objective on shares of M&G in a research note on Friday, August 15th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of GBX 255.

M&G Trading Down 0.6%

The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 218.70. The stock has a 50 day simple moving average of GBX 258.79 and a 200-day simple moving average of GBX 227.90. The firm has a market cap of £6.35 billion, a P/E ratio of 38.00, a P/E/G ratio of -2.76 and a beta of 1.47.

Insider Transactions at M&G

In other news, insider Clive Adamson acquired 600 shares of M&G stock in a transaction on Tuesday, June 3rd. The shares were acquired at an average price of GBX 237 per share, with a total value of £1,422. 1.75% 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.