M&G (LON:MNG) Hits New 12-Month High – Time to Buy?

M&G plc (LON:MNG) hit a new 52-week high during 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. The stock had previously closed at GBX 362.40.

Wall Street Analysts Forecast Growth

MNG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of M&G from GBX 315 to GBX 325 and gave the company a “neutral” rating in a research note on Friday, May 8th. UBS Group reiterated a “neutral” rating and set a GBX 300 price objective on shares of M&G in a research report on Tuesday, May 5th. Citigroup increased their price objective on shares of M&G from GBX 2,880 to GBX 2,950 and gave the company a “neutral” rating in a research note on Tuesday, June 9th. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 215 target price on shares of M&G in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of GBX 677.86.

M&G Trading Up 0.3%

The company has a debt-to-equity ratio of 220.41, a quick ratio of 0.39 and a current ratio of 1.92. The firm has a market cap of £8.70 billion, a price-to-earnings ratio of 29.69, a PEG ratio of -2.76 and a beta of 0.94. The business has a fifty day simple moving average of GBX 339.34 and a 200-day simple moving average of GBX 314.91.

Insider Buying and Selling at M&G

In other news, insider Elisabeth Stheeman purchased 3,150 shares of M&G stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of GBX 314 per share, for a total transaction of £9,891. Company 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.