Man Group (LON:EMG) Hits New 12-Month High - Here's What Happened

Key Points

• Man Group shares reached a new 52-week high of GBX 348.80 before closing at GBX 340, with more than 2.1 million shares traded.
• Analyst sentiment remains cautious: the stock has an average rating of “Hold” and an average price target of GBX 304.75, despite one Buy rating and targets as high as GBX 345.
• Man Group has a £3.77 billion market capitalization and trades at a price-to-earnings ratio of 12.09; insider activity included a 500,000-share sale and a 15,000-share purchase.

Man Group Plc (LON:EMG - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as GBX 348.80 and last traded at GBX 340, with a volume of 2102158 shares traded. The stock had previously closed at GBX 343.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EMG. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a GBX 330 price objective on shares of Man Group in a research report on Friday, September 4th. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 345 target price on shares of Man Group in a report on Wednesday, July 29th. Finally, Citigroup boosted their price target on Man Group from GBX 325 to GBX 335 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of GBX 304.75.

Man Group Trading Down 0.1%

The business's 50 day moving average price is GBX 309.04 and its two-hundred day moving average price is GBX 285.34. The company has a current ratio of 2.40, a quick ratio of 1.58 and a debt-to-equity ratio of 19.06. The company has a market capitalization of £3.77 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of -1.15 and a beta of 0.63.

Insider Activity at Man Group

In other Man Group news, insider Antoine Forterre sold 500,000 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of GBX 307, for a total transaction of £1,535,000. Also, insider Laurie Fitch purchased 15,000 shares of the stock in a transaction dated Friday, June 26th. The shares were bought at an average price of GBX 285 per share, with a total value of £42,750. 7.71% of the stock is owned by corporate insiders.

Man Group Company Profile

With a heritage in aiming to deliver attractive performance and tailored client solutions, Man Group is a highly active investment manager, powered by cutting edge investment technology. As a manager of millions of savers' capital, we have a responsibility as stewards of those investments to create a better, more sustainable future for investors and society. Our quantitative expertise and data-driven culture means we believe Man Group is in a unique position to uncover the opportunities of the future. Our five investment management businesses leverage our robust infrastructure to provide a diverse range of strategies across investment approaches, styles and asset classes. We continuously invest in talent, technology and research as we strive to deliver the best results for our clients.

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