Ashmore Group plc (ASHM) Receives Sell Rating from Numis Securities Ltd
Ashmore Group plc (LON:ASHM)‘s stock had its “sell” rating restated by stock analysts at Numis Securities Ltd in a report released on Wednesday. They currently have a GBX 285 ($3.72) price objective on the investment management service provider’s stock. Numis Securities Ltd’s target price indicates a potential downside of 23.43% from the company’s previous close.
Several other research analysts have also weighed in on the company. Peel Hunt lowered Ashmore Group plc to a “reduce” rating and lifted their price objective for the stock from GBX 310 ($4.05) to GBX 330 ($4.31) in a research report on Wednesday, July 20th. Goldman Sachs Group Inc. raised Ashmore Group plc to a “buy” rating and boosted their target price for the company from GBX 310 ($4.05) to GBX 420 ($5.48) in a research report on Friday, July 15th. JPMorgan Chase & Co. decreased their target price on Ashmore Group plc from GBX 230 ($3.00) to GBX 220 ($2.87) and set an “underweight” rating for the company in a research report on Wednesday, June 29th. Credit Suisse Group AG reaffirmed an “underperform” rating and issued a GBX 305 ($3.98) target price on shares of Ashmore Group plc in a research report on Tuesday, July 12th. Finally, BNP Paribas reaffirmed an “underperform” rating and issued a GBX 260 ($3.39) target price on shares of Ashmore Group plc in a research report on Monday, June 27th. Nine research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Sell” and an average target price of GBX 300.57 ($3.92).
Ashmore Group plc (LON:ASHM) traded down 0.88% on Wednesday, hitting GBX 372.20. The stock had a trading volume of 1,201,053 shares. The company has a 50-day moving average price of GBX 355.94 and a 200-day moving average price of GBX 317.46. Ashmore Group plc has a 52 week low of GBX 193.50 and a 52 week high of GBX 378.50. The stock’s market capitalization is GBX 2.48 billion.
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The company also recently disclosed a dividend, which will be paid on Friday, December 2nd. Investors of record on Thursday, November 3rd will be paid a GBX 12.10 ($0.16) dividend. This is an increase from Ashmore Group plc’s previous dividend of $4.55. The ex-dividend date is Thursday, November 3rd. This represents a yield of 3.38%.
In other Ashmore Group plc news, insider Shippey,Tom sold 215,780 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of GBX 341 ($4.45), for a total transaction of £735,809.80 ($960,461.82).
About Ashmore Group plc
Ashmore Group plc is a United Kingdom-based company, which operates as a markets asset manager. The Company invests client funds in a range of investment themes, such as external debt, local currency, corporate debt, blended debt, equities, alternatives, multi-strategy and overlay/liquidity. It offers a range of investment opportunities in over 70 countries.
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