Close Brothers Group (LON:CBG) Stock Rating Lowered by Royal Bank Of Canada

Close Brothers Group (LON:CBG) was downgraded by equities researchers at Royal Bank Of Canada to a “sector perform” rating in a report released on Monday,Digital Look reports. They currently have a GBX 470 price objective on the stock, down from their previous price objective of GBX 625. Royal Bank Of Canada’s target price suggests a potential upside of 12.89% from the stock’s current price.

Other research analysts have also issued research reports about the company. Shore Capital Group lowered Close Brothers Group to a “hold” rating and set a GBX 475 target price on the stock. in a report on Wednesday, April 8th. UBS Group reiterated a “buy” rating and issued a GBX 555 price objective on shares of Close Brothers Group in a research report on Monday, May 18th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Close Brothers Group presently has an average rating of “Moderate Buy” and a consensus price target of GBX 481.25.

Close Brothers Group Stock Down 5.3%

Shares of CBG stock opened at GBX 416.35 on Monday. The stock’s 50-day moving average price is GBX 448.35 and its 200 day moving average price is GBX 461.76. The stock has a market capitalization of £627.45 million, a PE ratio of -11.79, a price-to-earnings-growth ratio of 1.87 and a beta of 1.24. Close Brothers Group has a 52-week low of GBX 318.40 and a 52-week high of GBX 563.50.

Insider Buying and Selling

In other news, insider Mark Pain purchased 8,898 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was acquired at an average price of GBX 449 per share, with a total value of £39,952.02. Also, insider Kari Hale bought 5,017 shares of the business’s stock in a transaction on Monday, April 13th. The shares were acquired at an average price of GBX 406 per share, with a total value of £20,369.02. Insiders have bought a total of 25,601 shares of company stock worth $11,205,312 in the last quarter. Company insiders own 2.19% 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.