M&G (LON:MNG) Sets New 52-Week High - Still a Buy?

Key Points

• M&G plc's stock reached a new 52-week high at GBX 264.80 ($3.56) on Tuesday, with a notable trading volume of 4,266,994 shares.
• Analysts have upgraded M&G's price target, with JPMorgan raising it from GBX 290 ($3.90) to GBX 305 ($4.10), recommending an "overweight" rating.
• M&G currently holds a consensus rating of "Hold" from analysts and has a market cap of £6.31 billion.

M&G plc (LON:MNG - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 264.80 ($3.58) and last traded at GBX 263.60 ($3.57), with a volume of 4266994 shares. The stock had previously closed at GBX 259.90 ($3.52).

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MNG shares. JPMorgan Chase & Co. increased their target price on M&G from GBX 290 ($3.92) to GBX 305 ($4.13) and gave the company an "overweight" rating in a research report on Thursday, July 17th. Citigroup raised their price objective on M&G from GBX 214 ($2.90) to GBX 260 ($3.52) and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada raised their price objective on M&G from GBX 225 ($3.04) to GBX 240 ($3.25) and gave the stock a "sector perform" rating in a research report on Thursday, July 24th. Finally, UBS Group reaffirmed a "buy" rating and set a GBX 275 ($3.72) price target on shares of M&G in a research report on Friday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, M&G currently has a consensus rating of "Hold" and a consensus price target of GBX 255 ($3.45).

M&G Price Performance

The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 218.70. The firm has a market cap of £6.34 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of -2.76 and a beta of 1.47. The company has a 50 day moving average price of GBX 257.65 and a 200 day moving average price of GBX 226.33.

Insiders Place Their Bets

In other M&G news, insider Clive Adamson acquired 600 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were purchased at an average price of GBX 237 ($3.21) per share, for a total transaction of £1,422 ($1,923.96). 1.75% of the stock is currently 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.