J P Morgan Chase & Co Raises Ashmore Group plc (ASHM) Price Target to GBX 350
Ashmore Group plc (LON:ASHM) had its price target raised by J P Morgan Chase & Co from GBX 310 ($4.12) to GBX 350 ($4.65) in a research report sent to investors on Monday. J P Morgan Chase & Co currently has an underweight rating on the investment management service provider’s stock.
Several other research firms also recently commented on ASHM. Peel Hunt reaffirmed an add rating and issued a GBX 400 ($5.31) price objective on shares of Ashmore Group plc in a report on Friday, October 13th. Shore Capital reaffirmed a hold rating on shares of Ashmore Group plc in a report on Friday, July 14th. Numis Securities Ltd reaffirmed a hold rating and issued a GBX 320 ($4.25) price objective on shares of Ashmore Group plc in a report on Thursday, September 7th. Societe Generale dropped their price objective on shares of Ashmore Group plc from GBX 370 ($4.92) to GBX 365 ($4.85) and set a hold rating on the stock in a report on Wednesday, September 13th. Finally, Credit Suisse Group upped their price objective on shares of Ashmore Group plc from GBX 269 ($3.57) to GBX 325 ($4.32) and gave the company an underperform rating in a report on Tuesday, July 18th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of GBX 359.56 ($4.78).
Shares of Ashmore Group plc (LON:ASHM) opened at 371.90 on Monday. The stock’s market cap is GBX 2.49 billion. Ashmore Group plc has a one year low of GBX 269.00 and a one year high of GBX 392.20. The company has a 50-day moving average of GBX 349.91 and a 200 day moving average of GBX 353.96.
The business also recently disclosed a dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 2nd will be given a dividend of GBX 12.10 ($0.16) per share. The ex-dividend date of this dividend is Thursday, November 2nd. This is a boost from Ashmore Group plc’s previous dividend of $4.55. This represents a yield of 3.56%.
In other Ashmore Group plc news, insider Tom Shippey sold 92,785 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of GBX 341 ($4.53), for a total transaction of £316,396.85 ($420,405.06). Also, insider Clive Adamson acquired 934 shares of Ashmore Group plc stock in a transaction on Friday, October 13th. The shares were bought at an average price of GBX 374 ($4.97) per share, with a total value of £3,493.16 ($4,641.46).
Ashmore Group plc Company Profile
Ashmore Group plc is a United Kingdom-based company, which operates as a specialist emerging markets asset manager. The Company offers a range of investment themes, such as external debt, local currency, corporate debt, blended debt, equities, alternatives, multi-strategy and overlay/liquidity. Its geographical segments include United Kingdom, United States and Others.
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