Close Brothers Group (LON:CBG) Trading Down 6.7%

Close Brothers Group plc (LON:CBG)’s share price traded down 6.7% during mid-day trading on Thursday . The stock traded as low as GBX 451.20 ($5.73) and last traded at GBX 458.20 ($5.82). 1,178,946 shares were traded during trading, an increase of 17% from the average session volume of 1,008,566 shares. The stock had previously closed at GBX 491 ($6.24).

Analyst Ratings Changes

Several analysts have recently commented on the stock. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 463 ($5.88) target price on shares of Close Brothers Group in a research note on Wednesday, February 21st. Berenberg Bank reduced their target price on shares of Close Brothers Group from GBX 1,100 ($13.98) to GBX 425 ($5.40) and set a “buy” rating for the company in a research note on Thursday, February 15th. Royal Bank of Canada restated a “sector perform” rating and issued a GBX 375 ($4.77) target price on shares of Close Brothers Group in a research note on Wednesday, March 20th. Finally, Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Close Brothers Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 577.80 ($7.34).

Close Brothers Group Price Performance

The company’s 50 day moving average is GBX 446.84 and its 200 day moving average is GBX 562.12. The stock has a market cap of £697.07 million, a price-to-earnings ratio of 487.58, a PEG ratio of 1.87 and a beta of 0.80.

Insider Activity at Close Brothers Group

In related news, insider Patricia Halliday acquired 500 shares of Close Brothers Group stock in a transaction that occurred on Tuesday, April 23rd. The stock was purchased at an average price of GBX 453 ($5.76) per share, for a total transaction of £2,265 ($2,878.75). In other Close Brothers Group news, insider Sally Williams bought 1,062 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was bought at an average price of GBX 412 ($5.24) per share, for a total transaction of £4,375.44 ($5,561.06). Also, insider Patricia Halliday bought 500 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were acquired at an average price of GBX 453 ($5.76) per share, with a total value of £2,265 ($2,878.75). Insiders purchased 8,668 shares of company stock worth $3,718,116 over the last 90 days. Company insiders own 2.11% of the company’s stock.

Close Brothers Group Company Profile

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 banking services comprising of debt factoring, invoice discounting, asset-based lending; financing for SMEs, residential housing, transport, industrial equipment, renewable energy, motorcycle, used car, and commercial vehicle financing; insurance, refurbishment, and bridging financing, savings products for individuals and corporates, hire purchase, lease, and loan related services.