Ashmore Group plc (ASHM) Earns “Neutral” Rating from Macquarie
Ashmore Group plc (LON:ASHM)‘s stock had its “neutral” rating reissued by research analysts at Macquarie in a report issued on Friday. They currently have a GBX 304 ($3.97) target price on the investment management service provider’s stock. Macquarie’s target price indicates a potential downside of 19.04% from the company’s previous close.
A number of other equities analysts also recently issued reports on ASHM. Shore Capital reaffirmed a “sell” rating on shares of Ashmore Group plc in a report on Thursday, July 14th. Jefferies Group increased their price objective on Ashmore Group plc from GBX 300 ($3.92) to GBX 318 ($4.15) and gave the company a “hold” rating in a report on Wednesday, September 7th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a GBX 250 ($3.26) price objective on shares of Ashmore Group plc in a report on Wednesday, September 7th. Peel Hunt increased their price objective on Ashmore Group plc from GBX 270 ($3.52) to GBX 310 ($4.05) and gave the company a “hold” rating in a report on Thursday, July 14th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and issued a GBX 310 ($4.05) price objective on shares of Ashmore Group plc in a report on Monday, July 4th. Nine research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Sell” and an average target price of GBX 300.57 ($3.92).
Shares of Ashmore Group plc (LON:ASHM) traded down 0.88% during midday trading on Friday, reaching GBX 372.20. 1,201,053 shares of the company traded hands. The stock’s market capitalization is GBX 2.48 billion. The stock’s 50-day moving average is GBX 355.94 and its 200-day moving average is GBX 317.46. Ashmore Group plc has a 1-year low of GBX 193.50 and a 1-year high of GBX 378.50.
The company also recently declared a dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 3rd will be given a GBX 12.10 ($0.16) dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a dividend yield of 3.38%. This is a boost from Ashmore Group plc’s previous dividend of $4.55.
In related news, insider Shippey,Tom sold 215,780 shares of Ashmore Group plc stock in a transaction dated Monday, September 19th. The stock was sold at an average price of GBX 341 ($4.45), for a total transaction of £735,809.80 ($960,461.82).
About Ashmore Group plc
Ashmore Group plc is a United Kingdom-based company, which operates as a markets asset manager. The Company invests client funds in a range of investment themes, such as external debt, local currency, corporate debt, blended debt, equities, alternatives, multi-strategy and overlay/liquidity. It offers a range of investment opportunities in over 70 countries.
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