M&G (LON:MNG) Reaches New 1-Year High - Still a Buy?

Key Points

• M&G plc's share price reached a new 52-week high of GBX 262.80 ($3.49) during mid-day trading, representing increased interest as it was previously trading at GBX 260.60 ($3.46).
• Brokerages have issued revised price targets for M&G, with JPMorgan Chase & Co. raising their target to GBX 305 ($4.06) and rating the stock as "overweight".
• Insider Clive Adamson bought 600 shares at GBX 237 ($3.15) each, highlighting potential confidence in the company's future as corporate insiders own 1.75% of the stock.

M&G plc (LON:MNG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 262.80 ($3.53) and last traded at GBX 262.40 ($3.53), with a volume of 16078344 shares. The stock had previously closed at GBX 260.60 ($3.50).

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MNG. Royal Bank Of Canada lifted their price target on M&G from GBX 225 ($3.03) to GBX 240 ($3.23) and gave the stock a "sector perform" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of M&G from GBX 290 ($3.90) to GBX 305 ($4.10) and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, Citigroup boosted their price target on M&G from GBX 214 ($2.88) to GBX 260 ($3.50) and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of GBX 251 ($3.38).

M&G Trading Down 1.9%

The business has a 50 day simple moving average of GBX 255.24 and a two-hundred day simple moving average of GBX 224.30. The company has a market cap of £6.14 billion, a PE ratio of 36.79, a price-to-earnings-growth 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 related news, insider Clive Adamson purchased 600 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were bought at an average price of GBX 237 ($3.19) per share, for a total transaction of £1,422 ($1,912.32). 1.75% of the stock is currently owned by corporate insiders.

M&G Company Profile

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.