M&G (LON:MNG) Hits New 52-Week High – Time to Buy?

Shares of M&G plc (LON:MNG) reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 303.50 and last traded at GBX 303.40, with a volume of 10279557 shares traded. The stock had previously closed at GBX 301.40.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of M&G from GBX 305 to GBX 315 and gave the company an “overweight” rating in a research note on Friday, November 7th. Berenberg Bank upgraded M&G to a “buy” rating and lifted their price target for the company from GBX 225 to GBX 342 in a research report on Friday, October 10th. UBS Group downgraded M&G to a “neutral” rating and boosted their price objective for the stock from GBX 275 to GBX 290 in a research note on Wednesday, December 17th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a GBX 265 target price on shares of M&G in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, M&G presently has a consensus rating of “Hold” and an average target price of GBX 282.83.

M&G Stock Performance

The company has a debt-to-equity ratio of 218.70, a current ratio of 0.40 and a quick ratio of 0.39. The firm has a market capitalization of £7.19 billion, a PE ratio of -121.30, a P/E/G ratio of -2.76 and a beta of 1.47. The firm has a fifty day moving average price of GBX 280.30 and a 200 day moving average price of GBX 267.10.

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.