M&G (OTCMKTS:MGPUF) Stock Price Down 7% – Here’s What Happened

M&G plc (OTCMKTS:MGPUF) traded down 7% during mid-day trading on Thursday. The company traded as low as $4.3070 and last traded at $4.3070. Approximately 31,663 shares traded hands during trading, an increase of 1,128% from the average daily volume of 2,578 shares. The stock had previously closed at $4.63.

Wall Street Analyst Weigh In

Several analysts have commented on the company. UBS Group downgraded M&G from a “neutral” rating to a “sell” rating in a research note on Tuesday, August 11th. Citigroup reissued a “neutral” rating on shares of M&G in a report on Tuesday, June 9th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

M&G Price Performance

The company’s fifty day moving average price is $4.71 and its two-hundred day moving average price is $4.31.

About M&G

M&G plc is a United Kingdom-based savings and investment business serving individual, institutional and corporate customers. The company operates through its asset management and life and savings businesses, providing investment solutions, retirement products, insurance and related financial services.

Through M&G Investments, the company manages money across public and private markets, including equities, fixed income, multi-asset portfolios, real estate and private credit. Its life and savings operations offer products such as pensions, annuities, life insurance, investment bonds and wealth-management solutions, primarily through the United Kingdom and selected European markets.

M&G was established as an independent publicly traded company in 2019 following its demerger from Prudential plc, although the M&G brand has a much longer history in investment management.