Close Brothers Group (LON:CBG) Trading Up 7.6%

Shares of Close Brothers Group plc (LON:CBG) were up 7.6% during mid-day trading on Thursday . The company traded as high as GBX 524.50 ($6.92) and last traded at GBX 524.50 ($6.92). Approximately 599,340 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 777,985 shares. The stock had previously closed at GBX 487.60 ($6.43).

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CBG. Deutsche Bank Aktiengesellschaft began coverage on shares of Close Brothers Group in a research report on Friday, July 5th. They set a “buy” rating and a GBX 610 ($8.04) target price on the stock. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 583.17 ($7.69).

Close Brothers Group Stock Up 8.5 %

The stock’s 50-day moving average price is GBX 482.94 and its 200-day moving average price is GBX 446.21. The company has a market capitalization of £796.09 million, a price-to-earnings ratio of 513.26, a price-to-earnings-growth ratio of 1.87 and a beta of 0.83.

Insiders Place Their Bets

In other news, insider Mike Morgan sold 7,920 shares of Close Brothers Group stock in a transaction on Monday, July 15th. The stock was sold at an average price of GBX 506 ($6.67), for a total value of £40,075.20 ($52,848.74). In the last quarter, insiders have bought 94 shares of company stock valued at $45,010. 2.93% of the stock is currently owned by corporate insiders.

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.