M&G (LON:MNG) Hits New 12-Month High - Here's What Happened

Key Points

• M&G plc reached a new 52-week high of GBX 270.60 ($3.65) during trading, reflecting investor interest with a volume of over 43 million shares.
• Analysts have mixed ratings on M&G shares, with a consensus of "Hold" and target prices ranging from GBX 240 to GBX 305, highlighting both neutral and bullish perspectives.
• M&G's market capitalization stands at £6.38 billion, with significant insider activity including a purchase of 600 shares by Clive Adamson at GBX 237 each.

Shares of M&G plc (LON:MNG - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 270.60 ($3.65) and last traded at GBX 268.75 ($3.63), with a volume of 43137527 shares. The stock had previously closed at GBX 269.10 ($3.63).

Wall Street Analyst Weigh In

Several brokerages recently commented on MNG. Citigroup lifted their target price on shares of M&G from GBX 214 to GBX 260 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of M&G from GBX 290 to GBX 305 and gave the stock an "overweight" rating in a report on Thursday, July 17th. UBS Group reaffirmed a "buy" rating and set a GBX 275 target price on shares of M&G in a report on Friday, August 15th. Finally, Royal Bank Of Canada boosted their price objective on shares of M&G from GBX 225 to GBX 240 and gave the company a "sector perform" rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of GBX 255.

M&G Stock Down 0.3%

The company has a debt-to-equity ratio of 218.70, a quick ratio of 0.39 and a current ratio of 0.40. The stock has a market cap of £6.28 billion, a P/E ratio of -1,755.63, a P/E/G ratio of -2.76 and a beta of 1.47. The stock's fifty day simple moving average is GBX 260.21 and its 200-day simple moving average is GBX 230.79.

Insider Activity at M&G

In other news, insider Clive Adamson bought 600 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average cost of GBX 237 per share, for a total transaction of £1,422. Insiders own 0.07% 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.