M&G (LON:MNG) Hits New 1-Year High – Here’s Why

Shares of M&G plc (LON:MNG) reached a new 52-week high during trading on Monday . The stock traded as high as GBX 324.50 and last traded at GBX 323.60, with a volume of 110713563 shares trading hands. The stock had previously closed at GBX 321.67.

Wall Street Analyst Weigh In

Several research firms have issued reports on MNG. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 265 price target on shares of M&G in a report on Monday, November 10th. JPMorgan Chase & Co. upped their target price on M&G from GBX 305 to GBX 320 and gave the company a “neutral” rating in a report on Wednesday, February 4th. UBS Group lowered M&G to a “neutral” rating and increased their price target for the company from GBX 275 to GBX 290 in a research report on Wednesday, December 17th. Berenberg Bank restated a “buy” rating and set a GBX 342 price objective on shares of M&G in a report on Monday, February 9th. Finally, The Goldman Sachs Group upped their price objective on shares of M&G from GBX 300 to GBX 328 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of GBX 290.

M&G Price Performance

The stock has a market capitalization of £7.68 billion, a price-to-earnings ratio of -129.44, a price-to-earnings-growth ratio of -2.76 and a beta of 1.47. 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 stock has a 50-day simple moving average of GBX 299.32 and a 200 day simple moving average of GBX 275.64.

M&G Company Profile

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.