Close Brothers Group plc (CBG) Rating Reiterated by Peel Hunt
Close Brothers Group plc (LON:CBG)‘s stock had its “buy” rating reaffirmed by analysts at Peel Hunt in a research report issued to clients and investors on Tuesday, StockTargetPrices.com reports. They currently have a GBX 1,600 ($19.80) price objective on the stock. Peel Hunt’s price target would indicate a potential upside of 20.12% from the company’s previous close.
Several other equities research analysts have also issued reports on CBG. Numis Securities Ltd restated a “buy” rating and issued a GBX 1,551 ($19.20) target price on shares of Close Brothers Group plc in a report on Thursday, July 21st. Liberum Capital restated a “buy” rating and issued a GBX 1,184 ($14.65) target price on shares of Close Brothers Group plc in a report on Thursday, July 21st. Barclays PLC restated an “equal weight” rating on shares of Close Brothers Group plc in a report on Thursday, June 16th. Shore Capital reiterated a “hold” rating on shares of Close Brothers Group plc in a report on Friday, May 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Close Brothers Group plc from GBX 1,400 ($17.33) to GBX 1,500 ($18.56) and gave the company an “overweight” rating in a report on Friday, July 22nd. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of GBX 1,472.56 ($18.22).
Shares of Close Brothers Group plc (LON:CBG) traded up 0.9856% during trading on Tuesday, hitting GBX 1331.8036. 352,558 shares of the company traded hands. Close Brothers Group plc has a 52 week low of GBX 975.00 and a 52 week high of GBX 1,536.28. The company has a 50 day moving average price of GBX 1,385.41 and a 200 day moving average price of GBX 1,276.36. The company’s market capitalization is GBX 1.96 billion.
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The company 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. The ex-dividend date is Thursday, October 13th. This represents a dividend yield of 2.76%. This is an increase from Close Brothers Group plc’s previous dividend of $19.00.
In related news, insider Elizabeth Lee sold 20,000 shares of Close Brothers Group plc stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of GBX 1,417 ($17.54), for a total value of £283,400 ($350,742.57). Also, insider Jonathan Howell sold 149,292 shares of Close Brothers Group plc stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of GBX 1,378 ($17.05), for a total transaction of £2,057,243.76 ($2,546,093.76).
Close Brothers Group plc Company Profile
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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