M&G (LON:MNG) Sets New 1-Year High - Time to Buy?

Key Points

• M&G shares reached a new 52-week high of GBX 365.40, last trading around GBX 362.66, with the company valued at approximately £8.69 billion.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy and four recommend Hold, producing an overall “Hold” consensus and an average price target of GBX 677.86.
• Insider Elisabeth Stheeman purchased 3,150 shares for about £9,891, while M&G reports a 220.41 debt-to-equity ratio and insiders collectively own just 0.13% of the company.

M&G plc (LON:MNG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 365.40 and last traded at GBX 362.66, with a volume of 897859000 shares changing hands. The stock had previously closed at GBX 362.40.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MNG. Citigroup upped their target price on shares of 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 price target on shares of M&G from GBX 315 to GBX 325 and gave the company a "neutral" rating in a report on Friday, May 8th. Jefferies Financial Group reiterated a "buy" rating and issued a GBX 215 price target on shares of M&G in a research note on Thursday, May 7th. Finally, UBS Group reissued a "neutral" rating and set a GBX 300 price objective on shares of M&G in a report on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of GBX 677.86.

M&G Trading Up 0.1%

The firm has a market cap of £8.69 billion, a P/E ratio of 29.65, a P/E/G ratio of -2.76 and a beta of 0.94. The stock has a 50 day simple moving average of GBX 337.36 and a 200-day simple moving average of GBX 314.09. The company has a current ratio of 1.92, a quick ratio of 0.39 and a debt-to-equity ratio of 220.41.

Insider Buying and Selling at M&G

In other M&G news, insider Elisabeth Stheeman purchased 3,150 shares of M&G stock in a transaction that occurred on Friday, May 22nd. The shares were bought 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.

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. 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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