M&G (OTCMKTS:MGPUF) Shares Up 2.4% – Here’s Why

M&G plc (OTCMKTS:MGPUF)’s share price shot up 2.4% during trading on Thursday . The company traded as high as $4.29 and last traded at $4.29. 510 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 3,101 shares. The stock had previously closed at $4.19.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered M&G to a “neutral” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold”.

M&G Stock Performance

The business has a fifty day moving average of $3.91 and a 200 day moving average of $3.65.

M&G Company Profile

M&G plc is a UK-based savings and investment business that was demerged from Prudential plc in October 2020. Tracing its roots back to the founding of Municipal & General Securities Company Limited in 1931, the firm has grown into a diversified provider of investment management and long-term savings and retirement solutions. Headquartered in London, M&G serves both retail and institutional clients through a broad network of distribution channels.

The company’s main activities are split between asset management and savings & insurance.