Close Brothers Group (LON:CBG) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Close Brothers Group plc (LON:CBG) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 285.46 ($3.84) and traded as high as GBX 337.60 ($4.54). Close Brothers Group shares last traded at GBX 333.60 ($4.49), with a volume of 483,883 shares traded.

Analyst Ratings Changes

A number of brokerages have issued reports on CBG. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a GBX 430 ($5.79) target price on shares of Close Brothers Group in a report on Thursday, March 27th. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research note on Wednesday, May 21st. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Close Brothers Group from GBX 610 ($8.21) to GBX 600 ($8.07) and set a “hold” rating on the stock in a report on Thursday, February 13th.

Close Brothers Group Price Performance

The firm has a fifty day simple moving average of GBX 314.12 and a 200 day simple moving average of GBX 285.46. The company has a market cap of £502.61 million, a price-to-earnings ratio of 5.03, a P/E/G ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last posted its earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.42) earnings per share (EPS) for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. Analysts expect that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.

Insider Activity

In other Close Brothers Group news, insider Michael N. Biggs bought 5,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were purchased at an average price of GBX 288 ($3.88) per share, with a total value of £14,400 ($19,375.67). 2.91% of the stock is currently owned by company insiders.

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.