M&G (OTCMKTS:MGPUF) Stock Price Down 7% – What’s Next?

M&G plc (OTCMKTS:MGPUF) was down 7% on Thursday. The stock traded as low as $4.3070 and last traded at $4.3070. Approximately 31,663 shares changed hands during mid-day trading, an increase of 1,128% from the average daily volume of 2,578 shares. The stock had previously closed at $4.63.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. UBS Group lowered M&G from a “neutral” rating to a “sell” rating in a research report on Tuesday, August 11th. Citigroup reaffirmed a “neutral” rating on shares of M&G in a research report on Tuesday, June 9th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

M&G Stock Performance

The company has a 50 day moving average price of $4.72 and a 200 day moving average price of $4.31.

About M&G

M&G plc is a United Kingdom-based savings and investment business serving individual, institutional and corporate customers. The company operates through its asset management and life and savings businesses, providing investment solutions, retirement products, insurance and related financial services.

Through M&G Investments, the company manages money across public and private markets, including equities, fixed income, multi-asset portfolios, real estate and private credit. Its life and savings operations offer products such as pensions, annuities, life insurance, investment bonds and wealth-management solutions, primarily through the United Kingdom and selected European markets.

M&G was established as an independent publicly traded company in 2019 following its demerger from Prudential plc, although the M&G brand has a much longer history in investment management.