Close Brothers Group plc (CBG) Earns Add Rating from Peel Hunt
Close Brothers Group plc (LON:CBG)‘s stock had its “add” rating reissued by equities research analysts at Peel Hunt in a research note issued on Thursday. They currently have a GBX 1,600 ($19.99) target price on the stock. Peel Hunt’s price objective would indicate a potential upside of 18.52% from the company’s previous close.
Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 1,500 ($18.74) target price on shares of Close Brothers Group plc in a research report on Wednesday, September 28th. Citigroup Inc. reaffirmed a “buy” rating on shares of Close Brothers Group plc in a research report on Tuesday, September 13th. Royal Bank Of Canada reaffirmed a “sector performer” rating and set a GBX 1,400 ($17.49) target price on shares of Close Brothers Group plc in a research report on Friday, September 23rd. Barclays PLC increased their target price on Close Brothers Group plc from GBX 1,400 ($17.49) to GBX 1,500 ($18.74) and gave the company an “overweight” rating in a research report on Wednesday, September 28th. Finally, Panmure Gordon reaffirmed a “hold” rating and set a GBX 1,500 ($18.74) target price on shares of Close Brothers Group plc in a research report on Tuesday, September 27th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of GBX 1,472.56 ($18.40).
Shares of Close Brothers Group plc (LON:CBG) opened at 1372.00 on Thursday. The company has a 50 day moving average price of GBX 1,344.38 and a 200 day moving average price of GBX 1,290.29. Close Brothers Group plc has a one year low of GBX 975.00 and a one year high of GBX 1,533.33. The company’s market cap is GBX 2.02 billion.
The company also recently announced a dividend, which will be paid on Tuesday, November 22nd. Investors of record on Thursday, October 13th will be paid a GBX 38 ($0.47) dividend. This is a positive change from Close Brothers Group plc’s previous dividend of $19.00. The ex-dividend date is Thursday, October 13th. This represents a yield of 2.76%.
In other news, insider Jonathan Howell sold 149,292 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of GBX 1,378 ($17.22), for a total transaction of £2,057,243.76 ($2,570,269.57). Also, insider Elizabeth Lee sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of GBX 1,417 ($17.70), for a total value of £283,400 ($354,072.96).
About Close Brothers Group plc
Close Brothers Group plc is a United Kingdom-based merchant banking company. The Company provides lending, deposit taking, wealth management services and securities trading. The Company operates through three divisions: banking, which provides a range of lending products to the United Kingdom small and medium enterprises (SMEs), as well as installment payment solutions to the United Kingdom retail borrowers; securities, which provides dealing and execution services to financial institutions through Winterflood, and asset management, which provides wealth management service for individuals, incorporating both financial planning advice and investment management.
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