M&G (LON:MNG) Now Covered by HSBC

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Equities researchers at HSBC started coverage on shares of M&G (LON:MNG) in a note issued to investors on Friday, Stock Target Advisor reports. The brokerage set a “buy” rating and a GBX 295 ($3.85) price target on the stock. HSBC’s price target suggests a potential upside of 30.53% from the company’s previous close.

Several other research analysts have also issued reports on MNG. JPMorgan Chase & Co. increased their target price on M&G from GBX 271 ($3.54) to GBX 278 ($3.63) and gave the stock an “overweight” rating in a research report on Friday. Shore Capital reissued a “buy” rating on shares of M&G in a research report on Thursday, October 24th. Finally, Deutsche Bank initiated coverage on M&G in a research report on Wednesday, October 23rd. They issued a “buy” rating and a GBX 300 ($3.92) target price for the company.

Shares of LON:MNG traded down GBX 2 ($0.03) during trading on Friday, hitting GBX 226 ($2.95). The stock had a trading volume of 19,101,161 shares. M&G has a 12 month low of GBX 201.20 ($2.63) and a 12 month high of GBX 228.80 ($2.99). The company has a debt-to-equity ratio of 47.48, a current ratio of 2.31 and a quick ratio of 0.38.

In related news, insider Clive Adamson acquired 4,600 shares of M&G stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average price of GBX 218 ($2.85) per share, with a total value of £10,028 ($13,103.36). Also, insider John W. Foley acquired 100,000 shares of M&G stock in a transaction that occurred on Wednesday, October 23rd. The shares were bought at an average cost of GBX 212 ($2.77) per share, with a total value of £212,000 ($277,015.55).

About M&G

M&G plc, a holding company, through its subsidiaries, operates as a savings and investment company. The company manages investments for individuals and large institutional investors, such as pension funds around the world. Its investments include bonds, equities, alternatives, real estate, infrastructure, and multi-asset classes.

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