M&G (LON:MNG) Hits New 52-Week High – Time to Buy?

M&G plc (LON:MNG) reached a new 52-week high during trading on Monday . The stock traded as high as GBX 344.50 and last traded at GBX 344.48, with a volume of 2834342 shares trading hands. The stock had previously closed at GBX 342.71.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MNG shares. JPMorgan Chase & Co. raised their price target on shares of M&G from GBX 315 to GBX 325 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Citigroup boosted their price objective 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. Royal Bank Of Canada increased their target price on shares of M&G from GBX 260 to GBX 285 and gave the stock a “sector perform” rating in a report on Tuesday, April 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 215 target price on shares of M&G in a research report on Thursday, May 7th. Finally, UBS Group reiterated a “neutral” rating and issued a GBX 300 price target 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. According to MarketBeat, M&G has a consensus rating of “Hold” and an average price target of GBX 677.86.

M&G Stock Performance

The stock has a market capitalization of £8.22 billion, a P/E ratio of 28.06, 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 315.97 and a two-hundred day simple moving average of GBX 303.74. The company has a quick ratio of 0.39, a current ratio of 1.92 and a debt-to-equity ratio of 220.41.

Insider Activity at M&G

In other 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 acquired at an average cost of GBX 314 per share, with a total value of £9,891. 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.