JPMorgan Chase & Co. Increases Ashmore Group plc (ASHM) Price Target to GBX 305
Ashmore Group plc (LON:ASHM) had its price objective upped by equities researchers at JPMorgan Chase & Co. from GBX 300 ($3.71) to GBX 305 ($3.77) in a research note issued to investors on Monday. The brokerage presently has an “underweight” rating on the investment management service provider’s stock. JPMorgan Chase & Co.’s price target suggests a potential downside of 16.55% from the company’s previous close.
Several other analysts also recently weighed in on the company. BNP Paribas reiterated an “underperform” rating and set a GBX 300 ($3.71) price target on shares of Ashmore Group plc in a research note on Monday. Shore Capital reissued a “sell” rating on shares of Ashmore Group plc in a report on Friday. Numis Securities Ltd reissued a “sell” rating and issued a GBX 285 ($3.53) price objective on shares of Ashmore Group plc in a report on Friday. Peel Hunt reissued a “reduce” rating on shares of Ashmore Group plc in a report on Friday. Finally, Liberum Capital raised Ashmore Group plc to a “hold” rating and boosted their price objective for the company from GBX 240 ($2.97) to GBX 379 ($4.69) in a report on Wednesday, October 12th. Eight equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of GBX 313 ($3.87).
Ashmore Group plc (LON:ASHM) opened at 365.50 on Monday. Ashmore Group plc has a 12-month low of GBX 193.50 and a 12-month high of GBX 378.50. The stock’s market cap is GBX 2.43 billion. The firm’s 50-day moving average price is GBX 356.51 and its 200 day moving average price is GBX 320.02.
The company also recently announced a dividend, which will be paid on Friday, December 2nd. Shareholders of record on Thursday, November 3rd will be issued a dividend of GBX 12.10 ($0.15) per share. 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 other Ashmore Group plc news, insider Shippey,Tom sold 215,780 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of GBX 341 ($4.22), for a total transaction of £735,809.80 ($910,655.69).
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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