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

M&G plc (LON:MNG)’s share price hit a new 52-week high during trading on Monday . The company traded as high as GBX 326.20 and last traded at GBX 322.40, with a volume of 18029980 shares changing hands. The stock had previously closed at GBX 320.63.

Wall Street Analyst Weigh In

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

M&G Trading Up 0.0%

The company has a market capitalization of £7.73 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of -2.76 and a beta of 0.95. The business has a fifty day moving average price of GBX 305.24 and a 200 day moving average price of GBX 298.18. The company has a quick ratio of 0.39, a current ratio of 1.92 and a debt-to-equity ratio of 220.41.

Insider Activity

In related news, insider Elisabeth Stheeman bought 3,150 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of GBX 314 per share, with a total value of £9,891. Corporate insiders own 0.13% of the company’s stock.

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.