Close Brothers Group (LON:CBG) Shares Down 9.1% on Analyst Downgrade

Close Brothers Group plc (LON:CBG)’s stock price traded down 9.1% on Monday after Royal Bank Of Canada downgraded the stock to a sector perform rating. Royal Bank Of Canada now has a GBX 470 price target on the stock, down from their previous price target of GBX 625. Close Brothers Group traded as low as GBX 396.20 and last traded at GBX 399.80. 1,553,185 shares were traded during trading, a decline of 50% from the average session volume of 3,092,110 shares. The stock had previously closed at GBX 439.80.

Several other brokerages also recently commented on CBG. UBS Group reissued a “buy” rating and set a GBX 555 price objective on shares of Close Brothers Group in a research report on Monday, May 18th. Shore Capital Group downgraded shares of Close Brothers Group to a “hold” rating and set a GBX 475 target price on the stock. in a research note on Wednesday, April 8th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Close Brothers Group currently has a consensus rating of “Moderate Buy” and an average target price of GBX 481.25.

Insider Activity

In other Close Brothers Group news, insider Sally Williams acquired 6,914 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were bought at an average cost of GBX 456 per share, with a total value of £31,527.84. Also, insider Mark Pain acquired 8,898 shares of Close Brothers Group stock in a transaction that occurred on Wednesday, April 8th. The stock was acquired at an average price of GBX 449 per share, with a total value of £39,952.02. Insiders have acquired a total of 25,601 shares of company stock valued at $11,205,312 over the last ninety days. 2.19% of the stock is currently owned by corporate insiders.

Close Brothers Group Stock Performance

The firm has a market cap of £602.51 million, a P/E ratio of -11.33, a P/E/G ratio of 1.87 and a beta of 1.24. The business’s 50-day simple moving average is GBX 448.35 and its 200 day simple moving average is GBX 461.76.

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.