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

Close Brothers Group (LON:CBG – Get Rating) had its target price cut by Royal Bank of Canada from GBX 1,250 ($15.23) to GBX 1,200 ($14.63) in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

A number of other research analysts have also weighed in on CBG. Shore Capital reissued a buy rating on shares of Close Brothers Group in a research report on Tuesday, March 14th. Peel Hunt reaffirmed a hold rating and set a GBX 1,031 ($12.57) price objective on shares of Close Brothers Group in a research report on Tuesday, March 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Close Brothers Group from GBX 1,120 ($13.65) to GBX 950 ($11.58) and set an underweight rating for the company in a research report on Thursday, January 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Close Brothers Group currently has a consensus rating of Moderate Buy and a consensus target price of GBX 1,182.20 ($14.41).

Close Brothers Group Price Performance

Close Brothers Group stock opened at GBX 896 ($10.92) on Wednesday. The firm has a market cap of £1.35 billion, a price-to-earnings ratio of 814.55, a P/E/G ratio of 1.87 and a beta of 0.94. Close Brothers Group has a fifty-two week low of GBX 868 ($10.58) and a fifty-two week high of GBX 1,259 ($15.34). The firm has a fifty day moving average price of GBX 1,007.53 and a two-hundred day moving average price of GBX 1,016.

Close Brothers Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, April 26th. Investors of record on Thursday, March 23rd will be paid a GBX 22.50 ($0.27) dividend. The ex-dividend date is Thursday, March 23rd. This represents a yield of 2.21%. Close Brothers Group’s payout ratio is currently 6,000.00%.

Insider Activity at Close Brothers Group

In other Close Brothers Group news, insider Michael N. Biggs bought 1,000 shares of the stock in a transaction that occurred on Thursday, March 16th. The shares were acquired at an average price of GBX 920 ($11.21) per share, with a total value of £9,200 ($11,212.68). Insiders have acquired a total of 2,028 shares of company stock valued at $1,912,820 over the last quarter. 2.16% of the stock is owned by company insiders.

Close Brothers Group Company Profile

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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.