Credit Suisse Group AG Reiterates “Outperform” Rating for Hastings Group Hldg PLC (HSTG)
Hastings Group Hldg PLC (LON:HSTG)‘s stock had its “outperform” rating restated by equities research analysts at Credit Suisse Group AG in a report released on Tuesday. They currently have a GBX 290 ($3.58) price objective on the stock. Credit Suisse Group AG’s target price would indicate a potential upside of 16.05% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 260 ($3.21) price target on shares of Hastings Group Hldg PLC in a research note on Wednesday, March 8th. Macquarie reissued an “underperform” rating and issued a GBX 166 ($2.05) price target on shares of Hastings Group Hldg PLC in a research note on Monday, March 6th. Barclays PLC reissued an “overweight” rating on shares of Hastings Group Hldg PLC in a research note on Monday, March 6th. Goldman Sachs Group Inc increased their price target on Hastings Group Hldg PLC from GBX 248 ($3.06) to GBX 253 ($3.12) and gave the company a “neutral” rating in a research note on Friday, March 3rd. Finally, Beaufort Securities reissued a “buy” rating on shares of Hastings Group Hldg PLC in a research note on Friday, March 3rd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Hastings Group Hldg PLC has a consensus rating of “Hold” and an average target price of GBX 234.38 ($2.89).
Hastings Group Hldg PLC (LON:HSTG) opened at 257.50 on Tuesday. Hastings Group Hldg PLC has a 12-month low of GBX 158.60 and a 12-month high of GBX 260.60. The company’s market cap is GBX 1.69 billion. The stock’s 50 day moving average price is GBX 234.08 and its 200 day moving average price is GBX 226.11.
The firm also recently announced a dividend, which will be paid on Wednesday, May 31st. Investors of record on Thursday, May 4th will be given a dividend of GBX 6.60 ($0.08) per share. This is a positive change from Hastings Group Hldg PLC’s previous dividend of $3.30. The ex-dividend date of this dividend is Thursday, May 4th. This represents a dividend yield of 2.85%.
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In related news, insider Richard Mark Brewster sold 9,000,001 shares of the company’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of GBX 248 ($3.06), for a total transaction of £22,320,002.48 ($27,565,768.16).
Hastings Group Hldg PLC Company Profile
Hastings Group Holdings plc, formerly Hastings Group Holdings Limited, is a holding company. The Company provides general insurance. Its segments include Underwriting, Retail and Corporate. The Underwriting segment includes underwriting business based in Gibraltar. The Underwriting segment includes its subsidiaries, Advantage Insurance Company Limited (AICL), which is engaged in underwriting general insurance, primarily private car insurance in the United Kingdom, and Conquest House Limited, which owns property utilized by the Company.
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