Ashmore Group plc (ASHM) Earns “Underperform” Rating from Credit Suisse Group AG
Ashmore Group plc (LON:ASHM)‘s stock had its “underperform” rating reiterated by investment analysts at Credit Suisse Group AG in a research note issued on Tuesday. They presently have a GBX 344 ($4.19) target price on the investment management service provider’s stock. Credit Suisse Group AG’s target price would indicate a potential downside of 3.53% from the stock’s current price.
Other analysts have also issued reports about the company. Shore Capital reissued a “sell” rating on shares of Ashmore Group plc in a report on Tuesday, September 6th. Peel Hunt reissued a “reduce” rating and issued a GBX 330 ($4.02) price objective on shares of Ashmore Group plc in a report on Monday, August 15th. Numis Securities Ltd reissued a “sell” rating and issued a GBX 285 ($3.47) price objective on shares of Ashmore Group plc in a report on Friday. JPMorgan Chase & Co. boosted their price objective on Ashmore Group plc from GBX 300 ($3.66) to GBX 305 ($3.72) and gave the company an “underweight” rating in a report on Monday. Finally, Jefferies Group boosted their price objective on Ashmore Group plc from GBX 300 ($3.66) to GBX 318 ($3.88) and gave the company a “hold” rating in a report on Wednesday, September 7th. Seven 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 presently has an average rating of “Hold” and a consensus price target of GBX 317.93 ($3.87).
Ashmore Group plc (LON:ASHM) traded up 1.85% during mid-day trading on Tuesday, hitting GBX 363.20. The stock had a trading volume of 462,877 shares. The company has a 50-day moving average of GBX 356.33 and a 200-day moving average of GBX 321.11. The stock’s market cap is GBX 2.42 billion. Ashmore Group plc has a 12-month low of GBX 193.50 and a 12-month high of GBX 378.50.
The company also recently announced a dividend, which will be paid on Friday, December 2nd. Shareholders of record on Thursday, November 3rd will be given a GBX 12.10 ($0.15) dividend. This represents a yield of 3.38%. This is an increase from Ashmore Group plc’s previous dividend of $4.55. The ex-dividend date of this dividend is Thursday, November 3rd.
In other Ashmore Group plc news, insider Shippey,Tom sold 215,780 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of GBX 341 ($4.16), for a total value of £735,809.80 ($896,782.21).
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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