Canaccord Genuity Reiterates Buy Rating for Novae Group Plc (NVA)
Novae Group Plc (LON:NVA)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity in a report issued on Monday. They currently have a GBX 900 ($11.75) price target on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 11.18% from the stock’s current price.
A number of other analysts also recently issued reports on NVA. Peel Hunt restated an “add” rating and set a GBX 920 ($12.01) price target on shares of Novae Group Plc in a report on Tuesday, September 13th. Macquarie raised their price target on shares of Novae Group Plc from GBX 905 ($11.81) to GBX 907 ($11.84) and gave the stock an “outperform” rating in a report on Friday, August 5th. Finally, Shore Capital reaffirmed a “hold” rating on shares of Novae Group Plc in a research report on Wednesday, October 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Novae Group Plc currently has a consensus rating of “Hold” and an average price target of GBX 903.14 ($11.79).
Shares of Novae Group Plc (LON:NVA) traded up 0.56% during trading on Monday, hitting GBX 814.00. The stock had a trading volume of 26,091 shares. The stock’s market cap is GBX 511.18 million. The stock’s 50 day moving average price is GBX 799.09 and its 200-day moving average price is GBX 814.16. Novae Group Plc has a one year low of GBX 726.00 and a one year high of GBX 903.34.
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The firm also recently declared a dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st were given a GBX 7.50 ($0.10) dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a yield of 0.95%.
In other Novae Group Plc news, insider Reeken Patel purchased 60 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was bought at an average price of GBX 768 ($10.02) per share, with a total value of £460.80 ($601.49). Also, insider Fosh,Matthew K purchased 57 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average cost of GBX 795 ($10.38) per share, with a total value of £453.15 ($591.50).
About Novae Group Plc
Novae Group plc is a United Kingdom-based holding company. The Company is engaged in a diversified property and casualty (re)insurance business. The Company operates in three segments: Property; Casualty, and Marine, Aviation & Political Risk (MAP). The Property segment comprises approximately 10 underwriting units.
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