Canaccord Genuity Raises 3i Group plc (III) Price Target to GBX 975
3i Group plc (LON:III) had its price objective raised by analysts at Canaccord Genuity from GBX 875 ($11.38) to GBX 975 ($12.68) in a research report issued on Thursday. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity’s price target points to a potential upside of 16.00% from the stock’s previous close.
Several other equities research analysts have also recently commented on III. Barclays PLC reiterated an “overweight” rating on shares of 3i Group plc in a research report on Friday, May 19th. Morgan Stanley upgraded shares of 3i Group plc to an “overweight” rating and lifted their price target for the stock from GBX 710 ($9.24) to GBX 823 ($10.71) in a research report on Wednesday, March 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of GBX 796.60 ($10.36).
3i Group plc (LON:III) traded up 3.47% during mid-day trading on Thursday, reaching GBX 869.63. 1,834,413 shares of the company traded hands. The stock’s 50-day moving average price is GBX 5.44 and its 200-day moving average price is GBX 4.94. The firm’s market cap is GBX 8.36 billion. 3i Group plc has a one year low of GBX 468.50 and a one year high of GBX 875.50.
The company also recently disclosed a dividend, which will be paid on Friday, July 21st. Investors of record on Thursday, June 15th will be paid a dividend of GBX 18.50 ($0.24) per share. This is a positive change from 3i Group plc’s previous dividend of $8.00. The ex-dividend date of this dividend is Thursday, June 15th. This represents a yield of 2.2%.
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In other news, insider Caroline Banszky acquired 3,000 shares of 3i Group plc stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average price of GBX 838 ($10.90) per share, with a total value of £25,140 ($32,704.57). Insiders have purchased a total of 6,061 shares of company stock worth $4,649,874 in the last three months.
3i Group plc Company Profile
3i Group plc is an investment company with approximately three complementary businesses, Private Equity, Infrastructure and Debt Management, specializing in core investment markets in northern Europe and North America. The Company’s Private Equity business includes investment and asset management to generate capital returns, and is focused on consumer, industrial and business services sectors.
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