M&G (OTCMKTS:MGPUF) Shares Up 2.4% – Still a Buy?

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

Wall Street Analysts Forecast Growth

Separately, UBS Group downgraded M&G to a “neutral” rating in a research report on Wednesday, December 17th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, M&G has a consensus rating of “Hold”.

M&G Price Performance

The stock’s 50 day simple moving average is $3.93 and its two-hundred day simple moving average is $3.65.

About M&G

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.