Royal Bank of Canada Lowers Close Brothers Group (LON:CBG) Price Target to GBX 1,200

Close Brothers Group (LON:CBG – Get Rating) had its price target reduced by Royal Bank of Canada from GBX 1,250 ($15.23) to GBX 1,200 ($14.63) in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued reports about the company. Peel Hunt restated a hold rating and issued a GBX 1,031 ($12.57) target price on shares of Close Brothers Group in a research note on Tuesday, March 14th. JPMorgan Chase & Co. cut their price target on Close Brothers Group from GBX 1,120 ($13.65) to GBX 950 ($11.58) and set an underweight rating on the stock in a report on Thursday, January 26th. Finally, Shore Capital reaffirmed a buy rating on shares of Close Brothers Group in a report on Tuesday, March 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of GBX 1,182.20 ($14.41).

Close Brothers Group Stock Down 0.9 %

Shares of CBG stock opened at GBX 896 ($10.92) on Wednesday. The business has a 50 day moving average of GBX 1,007.53 and a two-hundred day moving average of GBX 1,016. Close Brothers Group has a 52 week low of GBX 868 ($10.58) and a 52 week high of GBX 1,259 ($15.34). The company has a market cap of £1.35 billion, a P/E ratio of 814.55, a PEG ratio of 1.87 and a beta of 0.94.

Close Brothers Group Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, April 26th. Investors of record on Thursday, March 23rd will be issued a dividend of GBX 22.50 ($0.27) per share. The ex-dividend date is Thursday, March 23rd. This represents a yield of 2.21%. Close Brothers Group’s payout ratio is 6,000.00%.

Insider Buying and Selling

In other news, insider Tracey Graham bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The shares were purchased at an average price of GBX 963 ($11.74) per share, with a total value of £9,630 ($11,736.75). Insiders have bought a total of 2,028 shares of company stock valued at $1,912,820 over the last quarter. Corporate insiders own 2.16% of the company’s stock.

About Close Brothers Group

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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 various savings products, including personal and business savings, and pension deposits.