M&G (LON:MNG) Sets New 12-Month High – Time to Buy?

Shares of M&G plc (LON:MNG) reached a new 52-week high on Wednesday . The company traded as high as GBX 354.70 and last traded at GBX 354.70, with a volume of 3675839 shares. The stock had previously closed at GBX 354.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MNG. UBS Group reissued a “neutral” rating and set a GBX 300 target price on shares of M&G in a research note on Tuesday, May 5th. Royal Bank Of Canada lifted 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. Jefferies Financial Group reissued a “buy” rating and issued a GBX 215 price objective on shares of M&G in a report on Thursday, May 7th. Citigroup raised their target price 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. Finally, JPMorgan Chase & Co. boosted their price target on M&G from GBX 315 to GBX 325 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of GBX 677.86.

M&G Stock Down 0.2%

The company has a debt-to-equity ratio of 220.41, a current ratio of 1.92 and a quick ratio of 0.39. The firm has a market capitalization of £8.42 billion, a P/E ratio of 28.72, a PEG ratio of -2.76 and a beta of 0.94. The firm’s fifty day moving average price is GBX 327.33 and its 200-day moving average price is GBX 309.21.

Insider Transactions at M&G

In other news, insider Elisabeth Stheeman purchased 3,150 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of GBX 314 per share, for a total transaction of £9,891. 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.