Close Brothers Group (LON:CBG) Stock Crosses Above 200-Day Moving Average of $1,396.46

Close Brothers Group plc (LON:CBG) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1,396.46 and traded as high as $1,470.00. Close Brothers Group shares last traded at $1,455.00, with a volume of 250,294 shares changing hands.

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Close Brothers Group from GBX 1,700 ($22.21) to GBX 1,650 ($21.56) and set an “overweight” rating for the company in a research report on Thursday, July 25th. Shore Capital reissued a “hold” rating and set a GBX 1,580 ($20.65) target price (down previously from GBX 1,610 ($21.04)) on shares of Close Brothers Group in a research report on Tuesday, September 24th. Peel Hunt restated a “hold” rating on shares of Close Brothers Group in a research note on Tuesday, September 24th. Berenberg Bank decreased their price target on shares of Close Brothers Group from GBX 1,500 ($19.60) to GBX 1,460 ($19.08) and set a “hold” rating for the company in a report on Friday, September 27th. Finally, Royal Bank of Canada reaffirmed a “sector performer” rating and issued a GBX 1,500 ($19.60) price target (up previously from GBX 1,450 ($18.95)) on shares of Close Brothers Group in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of GBX 1,515.60 ($19.80).

The business has a fifty day moving average price of GBX 1,392.52 and a two-hundred day moving average price of GBX 1,396.46. The firm has a market capitalization of $2.19 billion and a price-to-earnings ratio of 10.92.

The company also recently disclosed a dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Thursday, October 10th will be paid a GBX 44 ($0.57) dividend. This represents a dividend yield of 3.25%. This is a boost from Close Brothers Group’s previous dividend of $22.00. The ex-dividend date of this dividend is Thursday, October 10th. Close Brothers Group’s dividend payout ratio (DPR) is presently 0.50%.

In related news, insider Mike Morgan sold 30 shares of the company’s stock in a transaction that occurred on Monday, September 2nd. The stock was sold at an average price of GBX 1,289 ($16.84), for a total value of £386.70 ($505.29). Also, insider Preben Prebensen sold 149,204 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of GBX 1,264 ($16.52), for a total transaction of £1,885,938.56 ($2,464,312.77). Insiders have sold 168,944 shares of company stock valued at $215,122,766 in the last ninety days.

Close Brothers Group Company Profile (LON:CBG)

Close Brothers Group plc, a merchant banking company, provides financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Securities, and Asset Management. The company offers various deposit products, including fixed term deposits and notice accounts.

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