Macquarie Reaffirms Neutral Rating for Close Brothers Group plc (CBG)
Close Brothers Group plc (LON:CBG)‘s stock had its “neutral” rating reaffirmed by equities researchers at Macquarie in a research note issued on Tuesday. They presently have a GBX 1,341 ($16.60) price objective on the stock. Macquarie’s price target would suggest a potential downside of 2.40% from the stock’s current price.
A number of other research analysts have also weighed in on CBG. Barclays PLC reaffirmed an “equal weight” rating on shares of Close Brothers Group plc in a report on Thursday, June 16th. JPMorgan Chase & Co. dropped their price objective on Close Brothers Group plc from GBX 1,600 ($19.80) to GBX 1,400 ($17.33) and set an “overweight” rating on the stock in a report on Wednesday, June 29th. Peel Hunt reiterated a “buy” rating and set a GBX 1,600 ($19.80) target price on shares of Close Brothers Group plc in a research report on Wednesday, July 20th. Liberum Capital reiterated a “buy” rating and set a GBX 1,184 ($14.65) target price on shares of Close Brothers Group plc in a research report on Thursday, July 21st. Finally, Numis Securities Ltd reiterated a “buy” rating and set a GBX 1,551 ($19.20) target price on shares of Close Brothers Group plc in a research report on Thursday, July 21st. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of GBX 1,472.56 ($18.22).
Shares of Close Brothers Group plc (LON:CBG) opened at 1371.00 on Tuesday. The company’s 50 day moving average price is GBX 1,387.14 and its 200-day moving average price is GBX 1,273.93. Close Brothers Group plc has a 12 month low of GBX 975.00 and a 12 month high of GBX 1,547.00. The firm’s market capitalization is GBX 2.02 billion.
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The business also recently disclosed a dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Thursday, October 13th will be given a GBX 38 ($0.47) dividend. This is an increase from Close Brothers Group plc’s previous dividend of $19.00. This represents a dividend yield of 2.76%. The ex-dividend date is Thursday, October 13th.
In related news, insider Elizabeth Lee sold 20,000 shares of the stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of GBX 1,417 ($17.54), for a total transaction of £283,400 ($350,742.57). Also, insider Jonathan Howell sold 149,292 shares of the stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of GBX 1,378 ($17.05), for a total value of £2,057,243.76 ($2,546,093.76).
About Close Brothers Group plc
Close Brothers Group plc is a United Kingdom-based merchant banking company. The Company provides lending, deposit taking, wealth management services and securities trading. The Company operates through three divisions: banking, which provides a range of lending products to the United Kingdom small and medium enterprises (SMEs), as well as installment payment solutions to the United Kingdom retail borrowers; securities, which provides dealing and execution services to financial institutions through Winterflood, and asset management, which provides wealth management service for individuals, incorporating both financial planning advice and investment management.
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