Close Brothers Group (LON:CBG) Shares Down 5.6%

Shares of Close Brothers Group plc (LON:CBG) were down 5.6% on Thursday . The company traded as low as GBX 480 ($6.34) and last traded at GBX 498 ($6.58). Approximately 1,297,036 shares traded hands during trading, an increase of 43% from the average daily volume of 908,558 shares. The stock had previously closed at GBX 527.50 ($6.97).

Analyst Upgrades and Downgrades

A number of brokerages have commented on CBG. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Close Brothers Group in a report on Friday, July 5th. They issued a “buy” rating and a GBX 610 ($8.06) target price for the company. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research note on Monday. Finally, Royal Bank of Canada upgraded shares of Close Brothers Group to an “outperform” rating and raised their target price for the company from GBX 375 ($4.95) to GBX 620 ($8.19) in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 624 ($8.24).

Close Brothers Group Trading Down 5.6 %

The firm’s 50-day simple moving average is GBX 509.37 and its two-hundred day simple moving average is GBX 465.64. The company has a market cap of £749.44 million, a PE ratio of 524.21, a P/E/G ratio of 1.87 and a beta of 0.82.

Insider Buying and Selling

In related news, insider Mike Morgan sold 7,985 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of GBX 429 ($5.67), for a total value of £34,255.65 ($45,251.85). Insiders bought 90 shares of company stock worth $45,096 in the last 90 days. Insiders own 2.93% of the company’s stock.

About Close Brothers Group

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.