Citigroup Has Lowered Expectations for Quilter (LON:QLT) Stock Price

Key Points

• Citigroup cut its price target on Quilter from GBX 200 to GBX 190 and maintained a "neutral" rating, implying about a 4.4% upside from the prior close.
• Analyst consensus is broadly positive—six Buy ratings and one Hold—resulting in a "Moderate Buy" average target of GBX 204.57, above the stock's ~GBX 182 level.
• Significant insider selling occurred on April 7, with Steven Levin and Mark Satchel selling 679,997 and 570,445 shares respectively at GBX 177 (combined value ≈ £2.21 million); insiders now own 0.36%.

Quilter (LON:QLT - Get Free Report) had its price target reduced by analysts at Citigroup from GBX 200 to GBX 190 in a report released on Thursday,Digital Look reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price objective would suggest a potential upside of 4.40% from the stock's previous close.

QLT has been the topic of several other reports. UBS Group reissued a "buy" rating and set a GBX 210 price objective on shares of Quilter in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Quilter from GBX 170 to GBX 175 and gave the company a "buy" rating in a report on Thursday, March 5th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 220 target price on shares of Quilter in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on Quilter from GBX 223 to GBX 212 and set an "overweight" rating on the stock in a report on Thursday, March 19th. Finally, Berenberg Bank restated a "buy" rating and issued a GBX 215 price target on shares of Quilter in a research report on Thursday, March 5th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Quilter currently has an average rating of "Moderate Buy" and a consensus price target of GBX 204.57.

Quilter Price Performance

QLT stock opened at GBX 182 on Thursday. The company has a current ratio of 3.92, a quick ratio of 0.05 and a debt-to-equity ratio of 18.49. The company has a market capitalization of £2.51 billion, a P/E ratio of 21.16, a PEG ratio of 2.50 and a beta of 0.80. The business has a 50 day simple moving average of GBX 182.25 and a 200-day simple moving average of GBX 182.25. Quilter has a twelve month low of GBX 128.70 and a twelve month high of GBX 201.60.

Quilter (LON:QLT - Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported GBX 8.90 EPS for the quarter. Quilter had a net margin of 1.28% and a return on equity of 8.35%. As a group, equities analysts anticipate that Quilter will post 9.004676 EPS for the current year.

Insider Buying and Selling at Quilter

In other news, insider Steven Levin sold 679,997 shares of the firm's stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of GBX 177, for a total value of £1,203,594.69. Also, insider Mark Satchel sold 570,445 shares of Quilter stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of GBX 177, for a total transaction of £1,009,687.65. Insiders own 0.36% of the company's stock.

Quilter Company Profile

Quilter is a leading UK and cross-border full-service wealth management business, whose purpose is to help create prosperity for the generations of today and tomorrow. It has leading positions in one of the world's largest wealth markets, and its multi-channel proposition and investment performance are delivering attractive growth.

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