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

Close Brothers Group (LON:CBGGet 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, 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

(Get Rating)

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.

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