JPMorgan Chase & Co. Increases Ashmore Group plc (ASHM) Price Target to GBX 305
Ashmore Group plc (LON:ASHM) had its target price raised by JPMorgan Chase & Co. from GBX 300 ($3.71) to GBX 305 ($3.77) in a report issued on Monday. The brokerage currently has an “underweight” rating on the investment management service provider’s stock. JPMorgan Chase & Co.’s price objective would suggest a potential downside of 16.55% from the stock’s current price.
Other equities analysts have also issued research reports about the company. Numis Securities Ltd reissued a “sell” rating and set a GBX 285 ($3.53) price target on shares of Ashmore Group plc in a report on Friday. Peel Hunt reissued a “reduce” rating on shares of Ashmore Group plc in a report on Friday. Shore Capital reissued a “sell” rating on shares of Ashmore Group plc in a report on Friday. BNP Paribas reissued an “underperform” rating and set a GBX 300 ($3.71) price target on shares of Ashmore Group plc in a report on Monday. Finally, Credit Suisse Group AG reissued an “underperform” rating and set a GBX 305 ($3.77) price target on shares of Ashmore Group plc in a report on Tuesday, July 12th. Eight analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 313 ($3.87).
Shares of Ashmore Group plc (LON:ASHM) opened at 365.50 on Monday. The stock has a 50 day moving average price of GBX 356.51 and a 200-day moving average price of GBX 320.02. The stock’s market capitalization is GBX 2.43 billion. Ashmore Group plc has a 52-week low of GBX 193.50 and a 52-week high of GBX 378.50.
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The business also recently disclosed a dividend, which will be paid on Friday, December 2nd. Investors of record on Thursday, November 3rd will be given a dividend of GBX 12.10 ($0.15) per share. This is an increase from Ashmore Group plc’s previous dividend of $4.55. This represents a dividend yield of 3.38%. The ex-dividend date is Thursday, November 3rd.
In related news, insider Shippey,Tom sold 215,780 shares of Ashmore Group plc stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of GBX 341 ($4.22), for a total transaction of £735,809.80 ($910,655.69).
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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