Insider Selling: Close Brothers Group (LON:CBG) Insider Sells £18,279.11 in Stock

Key Points

• Insider Mike Morgan sold 4,699 Close Brothers Group shares at an average price of GBX 389, for total proceeds of £18,279.11.
• Close Brothers shares rose 0.8% to GBX 369, while the company reported quarterly EPS of GBX 47.50 and continues to have negative net margin and return on equity.
• Analysts maintain a “Moderate Buy” consensus with an average price target of GBX 461.67, though Royal Bank of Canada downgraded the stock to “sector perform” and cut its target to GBX 470.

Close Brothers Group plc (LON:CBG - Get Free Report) insider Mike Morgan sold 4,699 shares of the stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of GBX 389, for a total value of £18,279.11.

Close Brothers Group Stock Up 0.8%

Shares of LON CBG traded up GBX 2.80 during trading on Thursday, reaching GBX 369. 8,205,260 shares of the stock were exchanged, compared to its average volume of 2,344,119. The company has a market capitalization of £556.17 million, a price-to-earnings ratio of -6.46, a price-to-earnings-growth ratio of 1.87 and a beta of 1.24. The business's 50-day moving average price is GBX 408.17 and its 200 day moving average price is GBX 426.82. Close Brothers Group plc has a twelve month low of GBX 318.40 and a twelve month high of GBX 556.15.

Close Brothers Group (LON:CBG - Get Free Report) last released its quarterly earnings results on Tuesday, September 29th. The company reported GBX 47.50 earnings per share for the quarter. Close Brothers Group had a negative net margin of 7.56% and a negative return on equity of 4.07%. As a group, sell-side analysts expect that Close Brothers Group plc will post 66.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada downgraded Close Brothers Group to a "sector perform" rating and reduced their price target for the company from GBX 625 to GBX 470 in a report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of GBX 461.67.

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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