M&G (LON:MNG) Sets New 1-Year High – What’s Next?

Shares of M&G plc (LON:MNG) reached a new 52-week high on Tuesday . The stock traded as high as GBX 337.80 and last traded at GBX 337.70, with a volume of 2237443 shares trading hands. The stock had previously closed at GBX 332.90.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MNG. JPMorgan Chase & Co. raised their price target 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. UBS Group reaffirmed a “neutral” rating and set a GBX 300 price objective on shares of M&G in a research report on Tuesday, May 5th. Citigroup increased their price objective on shares of M&G from GBX 2,880 to GBX 2,950 and gave the stock a “neutral” rating in a research note on Tuesday, June 9th. Royal Bank Of Canada raised 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, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 215 target price on shares of M&G in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of GBX 677.86.

M&G Stock Up 0.4%

The firm’s 50-day moving average price is GBX 314.04 and its 200 day moving average price is GBX 302.81. The firm has a market cap of £8.02 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of -2.76 and a beta of 0.95. 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 Transactions at M&G

In other news, insider Elisabeth Stheeman bought 3,150 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of GBX 314 per share, for a total transaction of £9,891. 0.13% of the stock is 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.