Numis Securities Ltd Lowers Close Brothers Group plc (CBG) to Hold
Numis Securities Ltd cut shares of Close Brothers Group plc (LON:CBG) to a hold rating in a research note issued to investors on Tuesday morning. The brokerage currently has GBX 1,551 ($20.25) target price on the stock.
Several other brokerages have also weighed in on CBG. Barclays PLC reissued an equal weight rating on shares of Close Brothers Group plc in a report on Thursday, June 16th. Royal Bank Of Canada reissued a sector performer rating and set a GBX 1,400 ($18.27) price objective on shares of Close Brothers Group plc in a report on Friday, September 23rd. JPMorgan Chase & Co. increased their price objective on Close Brothers Group plc from GBX 1,400 ($18.27) to GBX 1,500 ($19.58) and gave the company an overweight rating in a report on Friday, July 22nd. Peel Hunt reissued a buy rating and set a GBX 1,600 ($20.89) price objective on shares of Close Brothers Group plc in a report on Wednesday, July 20th. Finally, Liberum Capital reaffirmed a buy rating and issued a GBX 1,184 ($15.45) price target on shares of Close Brothers Group plc in a report on Thursday, July 21st. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of GBX 1,472.33 ($19.22).
Close Brothers Group plc (LON:CBG) opened at 1353.00 on Tuesday. The firm has a 50-day moving average price of GBX 1,380.51 and a 200 day moving average price of GBX 1,269.87. Close Brothers Group plc has a 1-year low of GBX 975.00 and a 1-year high of GBX 1,569.00. The firm’s market cap is GBX 2.01 billion.
The firm also recently disclosed a dividend, which will be paid on Tuesday, November 22nd. Investors of record on Thursday, October 13th will be given a GBX 38 ($0.50) dividend. This represents a dividend yield of 2.76%. The ex-dividend date is Thursday, October 13th. 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 the stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of GBX 1,417 ($18.50), for a total value of £283,400 ($369,925.60).
About Close Brothers Group plc
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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