M&G (LON:MNG) Reaches New 52-Week High - What's Next?

Key Points

• M&G shares hit a new 52-week high in Monday trading, reaching GBX 349.30 before last trading at GBX 347.70, up slightly on the session.
• Analysts remain cautious overall: the stock has three Buy ratings and four Hold ratings, with MarketBeat showing an average rating of Hold and an average price target of GBX 677.86.
• Insider buying provided a bullish signal, as director Elisabeth Stheeman purchased 3,150 shares at GBX 314 each on May 22.

M&G plc (LON:MNG - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 349.30 and last traded at GBX 347.70, with a volume of 18188676 shares traded. The stock had previously closed at GBX 346.50.

Wall Street Analysts Forecast Growth

MNG has been the subject of a number of research reports. Jefferies Financial Group restated a "buy" rating and issued a GBX 215 price objective on shares of M&G in a report on Thursday, May 7th. Royal Bank Of Canada raised their price target on shares of M&G from GBX 260 to GBX 285 and gave the company a "sector perform" rating in a research report on Tuesday, April 7th. Citigroup upped their price objective on M&G from GBX 2,880 to GBX 2,950 and gave the stock a "neutral" rating in a research report on Tuesday, June 9th. JPMorgan Chase & Co. lifted their target price on M&G from GBX 315 to GBX 325 and gave the company a "neutral" rating in a report on Friday, May 8th. Finally, UBS Group reissued a "neutral" rating and set a GBX 300 target price on shares of M&G in a research note on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of GBX 677.86.

M&G Trading Up 0.1%

The company has a debt-to-equity ratio of 220.41, a quick ratio of 0.39 and a current ratio of 1.92. The company's 50-day moving average price is GBX 320.68 and its 200-day moving average price is GBX 305.98. The firm has a market capitalization of £8.26 billion, a PE ratio of 28.20, a PEG ratio of -2.76 and a beta of 0.94.

Insider Buying and Selling at M&G

In other M&G news, insider Elisabeth Stheeman bought 3,150 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of GBX 314 per share, for a total transaction of £9,891. Company insiders own 0.13% 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. M&G Investments manages assets for clients globally. With roots stretching back more than 170 years, we have a long history of finding innovative solutions for our customers' changing needs.

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