Close Brothers Group (LON:CBG) Shares Pass Above 200 Day Moving Average - Here's Why

Close Brothers Group plc (LON:CBG - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 275.95 ($3.68) and traded as high as GBX 333 ($4.45). Close Brothers Group shares last traded at GBX 321.80 ($4.30), with a volume of 319,035 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on CBG shares. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a GBX 430 ($5.74) target price on shares of Close Brothers Group in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Close Brothers Group from GBX 610 ($8.15) to GBX 600 ($8.01) and set a "hold" rating on the stock in a report on Thursday, February 13th. Finally, Shore Capital restated a "buy" rating on shares of Close Brothers Group in a research report on Tuesday, March 18th.

Close Brothers Group Stock Up 0.1 %

The business's fifty day moving average is GBX 304.71 and its two-hundred day moving average is GBX 275.95. The stock has a market capitalization of £485.13 million, a PE ratio of 4.85, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG - Get Free Report) last posted its earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.41) earnings per share for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. Sell-side analysts expect that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal year.

Insider Activity

In other news, insider Michael N. Biggs purchased 5,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average cost of GBX 288 ($3.85) per share, with a total value of £14,400 ($19,228.20). Corporate insiders own 2.91% 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.

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