M&G (LON:MNG) Hits New 52-Week High - Here's Why

M&G plc (LON:MNG - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 260.40 ($3.50) and last traded at GBX 260.20 ($3.50), with a volume of 7246107 shares changing hands. The stock had previously closed at GBX 258.60 ($3.48).

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft cut their target price on M&G from GBX 230 ($3.09) to GBX 225 ($3.03) and set a "hold" rating on the stock in a research report on Monday, February 24th.

M&G Trading Down 0.7%

The company's 50 day simple moving average is GBX 223.21 and its 200 day simple moving average is GBX 210.11. The firm has a market cap of £6.09 billion, a price-to-earnings ratio of 36.46, a P/E/G ratio of -2.76 and a beta of 1.47. The company has a debt-to-equity ratio of 218.70, a current ratio of 0.40 and a quick ratio of 0.39.

M&G (LON:MNG - Get Free Report) last posted its quarterly earnings results on Wednesday, March 19th. The company reported GBX (15.10) (($0.20)) EPS for the quarter. M&G had a return on equity of 4.31% and a net margin of 1.85%. As a group, research analysts expect that M&G plc will post 24.2485207 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Clive Adamson bought 600 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was purchased at an average price of GBX 237 ($3.19) per share, for a total transaction of £1,422 ($1,912.32). Insiders own 1.75% 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.