M&G (LON:MNG) Reaches New 1-Year High – Still a Buy?

M&G plc (LON:MNG)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as GBX 333.40 and last traded at GBX 330.80, with a volume of 296258938 shares trading hands. The stock had previously closed at GBX 331.

Analysts Set New Price Targets

Several brokerages have recently commented on MNG. Royal Bank Of Canada boosted their target price on M&G from GBX 260 to GBX 285 and gave the stock a “sector perform” rating in a report on Tuesday, April 7th. UBS Group reiterated a “neutral” rating and issued a GBX 300 price objective on shares of M&G in a research report on Tuesday, May 5th. JPMorgan Chase & Co. boosted their price objective on M&G from GBX 315 to GBX 325 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Jefferies Financial Group restated a “buy” rating and set a GBX 215 target price on shares of M&G in a report on Thursday, May 7th. Finally, Citigroup raised their target price on 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. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of GBX 677.86.

M&G Price Performance

The stock’s 50-day moving average price is GBX 309.39 and its 200-day moving average price is GBX 300.22. The company has a market capitalization of £7.90 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of -2.76 and a beta of 0.95. The company has a quick ratio of 0.39, a current ratio of 1.92 and a debt-to-equity ratio of 220.41.

Insider Buying and Selling at M&G

In related news, insider Elisabeth Stheeman acquired 3,150 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of GBX 314 per share, for a total transaction of £9,891. 0.13% of the stock is currently owned by corporate insiders.

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.