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

Key Points

• M&G plc's stock reached a new 52-week high, trading at GBX 269.70 ($3.63) during mid-day trading.
• Analysts have mixed ratings for M&G, with two Buy ratings and four Hold ratings, and an average price target of GBX 255.
• The company has a relatively high debt-to-equity ratio of 218.70, indicating significant leverage in its capital structure.

Shares of M&G plc (LON:MNG - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as GBX 269.70 ($3.63) and last traded at GBX 268.81 ($3.62), with a volume of 3534823 shares. The stock had previously closed at GBX 268 ($3.61).

Analyst Upgrades and Downgrades

Several brokerages recently commented on MNG. 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. 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. Finally, Royal Bank Of Canada lifted their target price on shares of M&G from GBX 225 to GBX 240 and gave the stock 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's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of GBX 255.

M&G Stock Up 0.2%

The firm's 50 day simple moving average is GBX 259.47 and its two-hundred day simple moving average is GBX 229.40. The firm has a market cap of £6.40 billion, a price-to-earnings ratio of 38.34, a PEG ratio of -2.76 and a beta of 1.47. The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 218.70.

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 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.