M&G (LON:MNG) had its price target decreased by investment analysts at JPMorgan Chase & Co. from GBX 188 ($2.31) to GBX 172 ($2.12) in a research note issued on Tuesday, LSE.Co.UK reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 2.41% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. Barclays reaffirmed an “equal weight” rating on shares of M&G in a report on Thursday, June 11th. Berenberg Bank assumed coverage on shares of M&G in a report on Tuesday, June 23rd. They set a “buy” rating and a GBX 200 ($2.46) price target for the company. Deutsche Bank reissued a “buy” rating on shares of M&G in a report on Monday, June 22nd. Royal Bank of Canada raised their price target on shares of M&G from GBX 160 ($1.97) to GBX 170 ($2.09) and gave the stock an “outperform” rating in a research report on Friday, June 5th. Finally, Morgan Stanley lowered their target price on shares of M&G from GBX 188 ($2.31) to GBX 172 ($2.12) and set an “underweight” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. M&G has an average rating of “Hold” and a consensus price target of GBX 203 ($2.50).
Shares of LON MNG traded up GBX 2.70 ($0.03) during midday trading on Tuesday, reaching GBX 176.25 ($2.17). 4,771,334 shares of the stock were exchanged. M&G has a twelve month low of GBX 86.40 ($1.06) and a twelve month high of £113.95 ($140.23). The company has a debt-to-equity ratio of 153.17, a quick ratio of 0.99 and a current ratio of 5.02. The company has a 50 day simple moving average of GBX 157.75 and a 200 day simple moving average of GBX 176.68. The stock has a market capitalization of $4.58 billion and a P/E ratio of 4.10.
In other M&G news, insider Massimo Tosato purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was bought at an average cost of GBX 163 ($2.01) per share, with a total value of £1,630 ($2,005.91). Insiders have bought a total of 1,175 shares of company stock valued at $193,091 over the last ninety days.
M&G plc, a holding company, through its subsidiaries, operates as a savings and investment company. The company manages investments for individuals and large institutional investors, such as pension funds around the world. Its investments include bonds, equities, alternatives, real estate, infrastructure, and multi-asset classes.
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