Close Brothers Group plc (CBG) Rating Reiterated by Macquarie
Close Brothers Group plc (LON:CBG)‘s stock had its “neutral” rating reiterated by research analysts at Macquarie in a research note issued to investors on Tuesday. They currently have a GBX 1,341 ($16.60) price objective on the stock. Macquarie’s target price points to a potential downside of 3.46% from the stock’s previous close.
CBG has been the topic of a number of other reports. Liberum Capital cut shares of Close Brothers Group plc to a “hold” rating and upped their price target for the stock from GBX 1,184 ($14.65) to GBX 1,398 ($17.30) in a research note on Thursday, August 18th. Peel Hunt reissued a “buy” rating and issued a GBX 1,600 ($19.80) price objective on shares of Close Brothers Group plc in a research note on Tuesday, July 26th. Citigroup Inc. reissued a “buy” rating on shares of Close Brothers Group plc in a research note on Tuesday, September 13th. Barclays PLC increased their price objective on shares of Close Brothers Group plc from GBX 1,400 ($17.33) to GBX 1,500 ($18.56) and gave the company an “overweight” rating in a research note on Wednesday, September 28th. Finally, Numis Securities Ltd cut shares of Close Brothers Group plc to a “hold” rating and set a GBX 1,551 ($19.20) price objective on the stock. in a research note on Tuesday, September 27th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of GBX 1,472.56 ($18.22).
Close Brothers Group plc (LON:CBG) opened at 1328.00 on Tuesday. The stock has a 50 day moving average of GBX 1,388.03 and a 200 day moving average of GBX 1,275.67. The stock’s market capitalization is GBX 1.96 billion. Close Brothers Group plc has a 1-year low of GBX 975.00 and a 1-year high of GBX 1,547.00.
The company also recently declared a dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Thursday, October 13th will be paid a dividend of GBX 38 ($0.47) per share. This is a boost from Close Brothers Group plc’s previous dividend of $19.00. This represents a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, October 13th.
In other Close Brothers Group plc news, insider Elizabeth Lee sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of GBX 1,417 ($17.54), for a total transaction of £283,400 ($350,742.57). Also, insider Jonathan Howell sold 149,292 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of GBX 1,378 ($17.05), for a total transaction of £2,057,243.76 ($2,546,093.76).
Close Brothers Group plc Company Profile
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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