3i Group plc (LON:III) Given Average Rating of “Buy” by Brokerages
3i Group plc (LON:III) has been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is GBX 915.83 ($11.96).
III has been the subject of a number of recent research reports. Macquarie lifted their price objective on 3i Group plc from GBX 742 ($9.69) to GBX 825 ($10.77) and gave the stock a “neutral” rating in a research report on Tuesday, June 13th. Canaccord Genuity lifted their price objective on 3i Group plc from GBX 790 ($10.32) to GBX 875 ($11.43) and gave the stock a “buy” rating in a research report on Tuesday, April 4th. Barclays PLC reiterated an “overweight” rating on shares of 3i Group plc in a research report on Friday, May 19th. Morgan Stanley cut 3i Group plc to an “equal weight” rating and lifted their price objective for the stock from GBX 823 ($10.75) to GBX 940 ($12.27) in a research report on Tuesday, June 13th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating on shares of 3i Group plc in a research report on Wednesday, May 31st.
In other 3i Group plc news, insider Caroline Banszky purchased 3,000 shares of the stock in a transaction on Thursday, May 18th. The stock was bought at an average price of GBX 838 ($10.94) per share, for a total transaction of £25,140 ($32,828.41). Also, insider Kevin Dunn sold 28,670 shares of 3i Group plc stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of GBX 919 ($12.00), for a total value of £263,477.30 ($344,054.98). In the last 90 days, insiders acquired 3,035 shares of company stock valued at $2,543,274 and sold 121,595 shares valued at $111,367,190.
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Shares of 3i Group plc (LON:III) opened at 935.00 on Friday. 3i Group plc has a one year low of GBX 579.00 and a one year high of GBX 948.00. The company has a 50 day moving average of GBX 5.47 and a 200-day moving average of GBX 4.93. The stock’s market cap is GBX 8.99 billion.
The firm also recently declared a dividend, which will be paid on Friday, July 21st. Shareholders of record on Thursday, June 15th will be issued a GBX 18.50 ($0.24) dividend. This is a boost 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%.
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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