M&G (LON:MNG) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Analysts at Citigroup raised M&G's price target from GBX 214 to GBX 260, indicating a potential upside of 0.62%.
• JPMorgan Chase & Co. increased their price target for M&G to GBX 305 while Royal Bank of Canada set theirs at GBX 240, reflecting positive sentiment in the market.
• M&G shares are trading at GBX 258.40, with the company having a market capitalization of £6.15 billion and a debt-to-equity ratio of 218.70.

M&G (LON:MNG - Free Report) had its price objective boosted by Citigroup from GBX 214 ($2.83) to GBX 260 ($3.43) in a report issued on Tuesday, MarketBeat.com reports. Citigroup currently has a neutral rating on the stock.

Several other research firms have also commented on MNG. JPMorgan Chase & Co. raised their target price on shares of M&G from GBX 290 ($3.83) to GBX 305 ($4.03) and gave the company an "overweight" rating in a report on Thursday, July 17th. Royal Bank Of Canada boosted their target price on shares of M&G from GBX 225 ($2.97) to GBX 240 ($3.17) and gave the stock a "sector perform" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, M&G has a consensus rating of "Hold" and an average price target of GBX 251 ($3.32).

M&G Stock Performance

LON:MNG traded down GBX 5.10 ($0.07) during mid-day trading on Tuesday, reaching GBX 256.50 ($3.39). 3,435,828 shares of the company's stock were exchanged, compared to its average volume of 19,023,111. M&G has a one year low of GBX 171.55 ($2.27) and a one year high of GBX 262.33 ($3.47). The firm has a market capitalization of £6.11 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of -2.76 and a beta of 1.47. The business's fifty day simple moving average is GBX 251.42 and its two-hundred day simple moving average is GBX 222.23. The company has a debt-to-equity ratio of 218.70, a quick ratio of 0.39 and a current ratio of 0.40.

Insiders Place Their Bets

In other news, insider Clive Adamson purchased 600 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were purchased at an average price of GBX 237 ($3.13) per share, for a total transaction of £1,422 ($1,878.47). 1.75% 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.