M&G (LON:MNG) Sets New 1-Year High – Time to Buy?

M&G plc (LON:MNG) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 285.90 and last traded at GBX 285.68, with a volume of 2981488 shares changing hands. The stock had previously closed at GBX 283.90.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MNG shares. UBS Group lowered shares of M&G to a “neutral” rating and raised their price target for the company from GBX 275 to GBX 290 in a research note on Wednesday, December 17th. JPMorgan Chase & Co. raised their target price on M&G from GBX 305 to GBX 315 and gave the company an “overweight” rating in a research report on Friday, November 7th. Berenberg Bank upgraded M&G to a “buy” rating and boosted their price target for the stock from GBX 225 to GBX 342 in a research report on Friday, October 10th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 265 price objective on shares of M&G in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, M&G currently has a consensus rating of “Hold” and a consensus target price of GBX 282.83.

M&G Trading Down 0.1%

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 firm has a market capitalization of £6.82 billion, a price-to-earnings ratio of -115.00, a PEG ratio of -2.76 and a beta of 1.47. The company has a fifty day moving average price of GBX 271.99 and a two-hundred day moving average price of GBX 263.07.

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.