Close Brothers Group (LON:CBG) Shares Pass Above 200-Day Moving Average of $460.02

Close Brothers Group plc (LON:CBG)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 460.02 ($6.02) and traded as high as GBX 546.50 ($7.15). Close Brothers Group shares last traded at GBX 538.50 ($7.04), with a volume of 165,722 shares.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank of Canada raised Close Brothers Group to an “outperform” rating and raised their price target for the stock from GBX 375 ($4.90) to GBX 620 ($8.11) in a report on Thursday, August 29th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research report on Wednesday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Close Brothers Group in a research report on Friday, July 5th. They issued a “buy” rating and a GBX 610 ($7.98) price objective on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Close Brothers Group presently has an average rating of “Moderate Buy” and an average target price of GBX 624 ($8.16).

Close Brothers Group Price Performance

The firm’s fifty day moving average is GBX 506.81 and its two-hundred day moving average is GBX 462.18. The firm has a market cap of £810.39 million, a price-to-earnings ratio of 566.84, a P/E/G ratio of 1.87 and a beta of 0.82.

Insider Transactions at Close Brothers Group

In related news, insider Mike Morgan sold 7,920 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of GBX 506 ($6.62), for a total transaction of £40,075.20 ($52,406.43). In the last three months, insiders purchased 90 shares of company stock valued at $45,096. Company insiders own 2.93% of the company’s stock.

About Close Brothers Group

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.