Close Brothers Group plc (CBG) Price Target Increased to GBX 1,650 by Analysts at JPMorgan Chase & Co.
Close Brothers Group plc (LON:CBG) had its price target hoisted by research analysts at JPMorgan Chase & Co. from GBX 1,575 ($19.68) to GBX 1,650 ($20.61) in a research report issued to clients and investors on Friday. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 19.13% from the company’s current price.
Several other equities analysts have also weighed in on CBG. Numis Securities Ltd reiterated an “add” rating and issued a GBX 1,619 ($20.23) target price on shares of Close Brothers Group plc in a report on Thursday. Barclays PLC boosted their target price on shares of Close Brothers Group plc from GBX 1,350 ($16.87) to GBX 1,400 ($17.49) and gave the company an “overweight” rating in a report on Tuesday, July 26th. Liberum Capital reiterated a “buy” rating and issued a GBX 1,184 ($14.79) target price on shares of Close Brothers Group plc in a report on Thursday, July 21st. Shore Capital reiterated a “hold” rating on shares of Close Brothers Group plc in a report on Thursday. Finally, Peel Hunt reiterated a “buy” rating and issued a GBX 1,600 ($19.99) target price on shares of Close Brothers Group plc in a report on Tuesday, July 26th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Close Brothers Group plc currently has an average rating of “Hold” and a consensus target price of GBX 1,480.89 ($18.50).
Close Brothers Group plc (LON:CBG) opened at 1398.00 on Friday. The company’s market capitalization is GBX 2.06 billion. Close Brothers Group plc has a 1-year low of GBX 975.00 and a 1-year high of GBX 1,533.33. The stock’s 50 day moving average is GBX 1,344.57 and its 200-day moving average is GBX 1,290.95.
The firm also recently declared a dividend, which will be paid on Tuesday, November 22nd. Investors of record on Thursday, October 13th will be paid a dividend of GBX 38 ($0.47) per share. The ex-dividend date is Thursday, October 13th. This represents a yield of 2.76%. This is a boost from Close Brothers Group plc’s previous dividend of $19.00.
In related news, insider Elizabeth Lee sold 20,000 shares of the stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of GBX 1,417 ($17.70), for a total transaction of £283,400 ($354,072.96). Also, insider Jonathan Howell sold 149,292 shares of the stock in a transaction on 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).
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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