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

M&G plc (LON:MNG) reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 280.20 and last traded at GBX 280.07, with a volume of 11880576 shares trading hands. The stock had previously closed at GBX 278.10.

Analyst Ratings Changes

MNG has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of M&G from GBX 305 to GBX 315 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Berenberg Bank upgraded M&G to a “buy” rating and lifted their price target for the stock from GBX 225 to GBX 342 in a research note on Friday, October 10th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 265 price objective on shares of M&G in a report on Monday, November 10th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, M&G currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 280.33.

M&G Stock Performance

The stock’s 50-day moving average price is GBX 266.86 and its 200-day moving average price is GBX 260.53. The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 218.70. The company has a market capitalization of £6.64 billion, a P/E ratio of -112.00, a P/E/G ratio of -2.76 and a beta of 1.47.

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.