Royal Bank Of Canada Downgrades Close Brothers Group (LON:CBG) to Sector perform

Close Brothers Group (LON:CBG) was downgraded by stock analysts at Royal Bank Of Canada to a “sector perform” rating in a report released on Monday,Digital Look reports. They presently have a GBX 470 target price on the stock, down from their previous target price of GBX 625. Royal Bank Of Canada’s price target indicates a potential upside of 12.89% from the stock’s current price.

CBG has been the subject of several other research reports. UBS Group reiterated a “buy” rating and set a GBX 555 price target on shares of Close Brothers Group in a report on Monday, May 18th. Shore Capital Group cut shares of Close Brothers Group to a “hold” rating and set a GBX 475 price objective for the company. in a research report on Wednesday, April 8th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Close Brothers Group currently has an average rating of “Moderate Buy” and an average price target of GBX 481.25.

Close Brothers Group Price Performance

Shares of LON CBG opened at GBX 416.35 on Monday. The company has a market cap of £627.45 million, a price-to-earnings ratio of -11.79, a price-to-earnings-growth ratio of 1.87 and a beta of 1.24. The stock’s 50-day moving average is GBX 448.35 and its two-hundred day moving average is GBX 461.76. Close Brothers Group has a 1-year low of GBX 318.40 and a 1-year high of GBX 563.50.

Insider Activity at Close Brothers Group

In other news, insider Kari Hale purchased 5,017 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The shares were purchased at an average price of GBX 406 per share, for a total transaction of £20,369.02. Also, insider Sally Williams purchased 6,914 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were purchased at an average cost of GBX 456 per share, for a total transaction of £31,527.84. Insiders have purchased 25,601 shares of company stock valued at $11,205,312 in the last ninety days. Insiders own 2.19% of the company’s stock.

About Close Brothers Group

Close Brothers Group plc, a merchant banking company, engages in the provision of financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Asset Management, and Securities. The company offers banking services comprising of debt factoring, invoice discounting, asset-based lending; financing for SMEs, residential housing, transport, industrial equipment, renewable energy, motorcycle, used car, and commercial vehicle financing; insurance, refurbishment, and bridging financing, savings products for individuals and corporates, hire purchase, lease, and loan related services.