M&G (OTCMKTS:MGPUF) Trading Down 1.5% – Here’s What Happened

M&G plc (OTCMKTS:MGPUF)’s stock price dropped 1.5% on Wednesday . The company traded as low as $4.70 and last traded at $4.70. Approximately 2,000 shares were traded during trading, a decline of 11% from the average daily volume of 2,240 shares. The stock had previously closed at $4.77.

Wall Street Analyst Weigh In

MGPUF has been the subject of several analyst reports. The Goldman Sachs Group downgraded shares of M&G to a “neutral” rating in a report on Tuesday, April 21st. Citigroup reiterated a “neutral” rating on shares of M&G in a research report on Tuesday, June 9th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of M&G in a research note on Wednesday, April 8th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

M&G Stock Performance

The firm’s 50-day simple moving average is $4.30 and its 200-day simple moving average is $4.15.

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.