Close Brothers Group (LON:CBG) had its target price cut by Canaccord Genuity from GBX 1,511 ($19.74) to GBX 1,393 ($18.20) in a research note issued to investors on Wednesday morning, Digital Look reports. They currently have a hold rating on the stock.
A number of other brokerages have also recently weighed in on CBG. UBS Group reissued a neutral rating and issued a GBX 1,435 ($18.75) price target (down from GBX 1,565 ($20.45)) on shares of Close Brothers Group in a research report on Wednesday, September 25th. Royal Bank of Canada reissued a sector performer rating and issued a GBX 1,500 ($19.60) price target (up from GBX 1,450 ($18.95)) on shares of Close Brothers Group in a research report on Thursday, August 29th. Berenberg Bank reduced their price target on shares of Close Brothers Group from GBX 1,500 ($19.60) to GBX 1,460 ($19.08) and set a hold rating for the company in a research report on Friday, September 27th. Shore Capital reissued a hold rating and issued a GBX 1,580 ($20.65) price target (down from GBX 1,610 ($21.04)) on shares of Close Brothers Group in a research report on Tuesday, September 24th. Finally, Peel Hunt reissued a hold rating on shares of Close Brothers Group in a research report on Tuesday, September 24th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Close Brothers Group has a consensus rating of Hold and an average price target of GBX 1,515.60 ($19.80).
Shares of CBG stock traded up GBX 20 ($0.26) on Wednesday, reaching GBX 1,442 ($18.84). 302,429 shares of the stock were exchanged, compared to its average volume of 422,969. The business’s 50 day moving average price is GBX 1,388.20 and its 200 day moving average price is GBX 1,399.10. The company has a market capitalization of $2.18 billion and a price-to-earnings ratio of 10.83. Close Brothers Group has a twelve month low of GBX 1,209 ($15.80) and a twelve month high of GBX 1,614 ($21.09).
The business also recently declared a dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, October 10th will be given a GBX 44 ($0.57) dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Close Brothers Group’s previous dividend of $22.00. This represents a yield of 3.25%. Close Brothers Group’s payout ratio is 0.50%.
In other news, insider Mike Morgan sold 19,710 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of GBX 1,344 ($17.56), for a total value of £264,902.40 ($346,141.91). Also, insider Preben Prebensen sold 149,204 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of GBX 1,264 ($16.52), for a total transaction of £1,885,938.56 ($2,464,312.77). Over the last three months, insiders sold 168,944 shares of company stock valued at $215,122,766.
About Close Brothers Group
Close Brothers Group plc, a merchant banking company, provides financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Securities, and Asset Management. The company offers various deposit products, including fixed term deposits and notice accounts.
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