Standard Life Aberdeen (LON:SLA) Hits New 1-Year Low on Analyst Downgrade
Standard Life Aberdeen PLC (LON:SLA)’s share price hit a new 52-week low on Tuesday after UBS Group downgraded the stock to a neutral rating. UBS Group now has a GBX 185 price target on the stock, down from their previous price target of GBX 340. Standard Life Aberdeen traded as low as GBX 179.92 ($2.37) and last traded at GBX 183.62 ($2.42), with a volume of 287370 shares changing hands. The stock had previously closed at GBX 174 ($2.29).
A number of other research analysts have also recently weighed in on the company. Citigroup assumed coverage on Standard Life Aberdeen in a report on Friday, January 24th. They issued a “neutral” rating on the stock. Credit Suisse Group lifted their target price on Standard Life Aberdeen from GBX 320 ($4.21) to GBX 335 ($4.41) and gave the company a “neutral” rating in a report on Friday, January 24th. Barclays lifted their target price on Standard Life Aberdeen from GBX 300 ($3.95) to GBX 310 ($4.08) and gave the company an “equal weight” rating in a report on Monday, January 13th. BNP Paribas cut Standard Life Aberdeen to an “underperform” rating in a report on Tuesday, January 7th. Finally, Jefferies Financial Group reduced their target price on Standard Life Aberdeen from GBX 400 ($5.26) to GBX 300 ($3.95) and set a “buy” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Standard Life Aberdeen currently has a consensus rating of “Hold” and a consensus target price of GBX 279.27 ($3.67).
In related news, insider Keith Skeoch acquired 50,294 shares of Standard Life Aberdeen stock in a transaction on Tuesday, March 17th. The shares were bought at an average price of GBX 197 ($2.59) per share, for a total transaction of £99,079.18 ($130,333.04).
The business also recently disclosed a dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Thursday, April 2nd will be paid a dividend of GBX 14.30 ($0.19) per share. This represents a dividend yield of 5.85%. The ex-dividend date is Thursday, April 2nd. This is a boost from Standard Life Aberdeen’s previous dividend of $7.30. Standard Life Aberdeen’s payout ratio is currently 0.47%.
About Standard Life Aberdeen (LON:SLA)
Standard Life Aberdeen plc provides asset management services in the United Kingdom, Europe, North America, and Asia. The company offers investment solutions and funds; long-term savings and investment products to individual and corporate customers; and life insurance and savings products. It provides its products through institutional, wholesale, and retail distribution channels.
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