M&G (LON:MNG) Shares Down 0.5% - Here's Why

M&G plc (LON:MNG - Get Free Report)'s stock price was down 0.5% during mid-day trading on Monday . The company traded as low as GBX 207.20 ($2.69) and last traded at GBX 207.30 ($2.69). Approximately 4,942,141 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 8,229,267 shares. The stock had previously closed at GBX 208.30 ($2.70).

Analysts Set New Price Targets

A number of research analysts have issued reports on MNG shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 240 ($3.12) price target on shares of M&G in a report on Thursday, September 5th. Berenberg Bank reaffirmed a "hold" rating and set a GBX 225 ($2.92) target price on shares of M&G in a research note on Thursday, September 5th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a GBX 220 ($2.86) target price on shares of M&G in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, M&G has an average rating of "Hold" and an average price target of GBX 223.33 ($2.90).

M&G Price Performance

The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 228.54. The stock has a market capitalization of £4.93 billion, a PE ratio of 2,961.43, a PEG ratio of -2.76 and a beta of 1.47. The company has a 50-day moving average of GBX 208.74 and a 200 day moving average of GBX 205.49.

M&G Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, October 18th. Investors of record on Thursday, September 12th were given a dividend of GBX 6.60 ($0.09) per share. This represents a dividend yield of 3.05%. The ex-dividend date of this dividend was Thursday, September 12th. M&G's payout ratio is 28,571.43%.

M&G Company Profile

M&G plc, through its subsidiaries, engages in savings and investment businesses in the United Kingdom and internationally. The company operates through three segments: Asset Management, Life, and Wealth. It offers retirement, savings, and investment management solutions. The company also provides individual and corporate pensions, retirement, annuities, life, savings, and investment products, such as equities, fixed income, multi-asset and real estate.

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