European Wealth Group (LON:EWG) Shares Pass Above Fifty Day Moving Average - What's Next?

Key Points

• European Wealth Group Limited (LON:EWG) saw its stock price cross above its 50-day moving average, with shares last trading at GBX 101.50 ($1.39).
• Berenberg Bank has reaffirmed a "buy" rating for the stock and set a price objective of GBX 120, reflecting a strong consensus target price.
• Insider Steve Dryden bought 33,819 shares at an average price of GBX 105, indicating confidence in the company's future performance.

European Wealth Group Limited (LON:EWG - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 0 ($0.00) and traded as high as GBX 106 ($1.43). European Wealth Group shares last traded at GBX 101.50 ($1.37), with a volume of 444,138 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EWG shares. Deutsche Bank Aktiengesellschaft lowered European Wealth Group to a "hold" rating and upped their price target for the company from GBX 90 to GBX 110 in a research note on Tuesday, September 16th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 120 price target on shares of European Wealth Group in a research note on Thursday, September 4th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of GBX 115.

European Wealth Group Price Performance

The stock has a market capitalization of £692.19 million and a P/E ratio of 26,282.05.

Insiders Place Their Bets

In other news, insider Steve Dryden acquired 33,819 shares of European Wealth Group stock in a transaction on Monday, September 8th. The stock was acquired at an average cost of GBX 105 per share, with a total value of £35,509.95. Company insiders own 47.70% of the company's stock.

European Wealth Group Company Profile

European Wealth Group Limited engages in the investment management and financial planning business in the United Kingdom. The company provides advisory and discretionary investment management, family office, regular savings, individual and family protection, tax and estate planning, and treasury management services.