BNP Paribas Reiterates “Underperform” Rating for Ashmore Group plc (ASHM)
Ashmore Group plc (LON:ASHM)‘s stock had its “underperform” rating restated by equities researchers at BNP Paribas in a research report issued to clients and investors on Monday. They presently have a GBX 300 ($3.66) target price on the investment management service provider’s stock. BNP Paribas’ price target suggests a potential downside of 17.04% from the stock’s previous close.
A number of other analysts have also issued reports on the company. Peel Hunt lowered Ashmore Group plc to a “reduce” rating and boosted their target price for the company from GBX 310 ($3.78) to GBX 330 ($4.02) in a research report on Wednesday, July 20th. Goldman Sachs Group Inc. raised Ashmore Group plc to a “buy” rating and boosted their target price for the company from GBX 310 ($3.78) to GBX 420 ($5.12) in a research report on Friday, July 15th. JPMorgan Chase & Co. cut their target price on Ashmore Group plc from GBX 230 ($2.80) to GBX 220 ($2.68) and set an “underweight” rating on the stock in a research report on Wednesday, June 29th. Credit Suisse Group AG reissued an “underperform” rating and issued a GBX 305 ($3.72) target price on shares of Ashmore Group plc in a research report on Tuesday, July 12th. Finally, Shore Capital reissued a “sell” rating on shares of Ashmore Group plc in a research report on Tuesday, September 6th. Eight analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of GBX 317.93 ($3.87).
Shares of Ashmore Group plc (LON:ASHM) opened at 357.80 on Monday. The firm’s 50-day moving average price is GBX 356.48 and its 200-day moving average price is GBX 321.63. Ashmore Group plc has a 12 month low of GBX 193.50 and a 12 month high of GBX 378.50. The firm’s market cap is GBX 2.38 billion.
The business also recently disclosed a dividend, which will be paid on Friday, December 2nd. Shareholders of record on Thursday, November 3rd will be paid a GBX 12.10 ($0.15) dividend. This represents a yield of 3.38%. The ex-dividend date of this dividend is Thursday, November 3rd. This is an increase 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 company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of GBX 341 ($4.16), for a total value of £735,809.80 ($896,782.21).
Ashmore Group plc Company Profile
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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