Investec Group (LON:INVP) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Investec Group's shares surpassed their 200-day moving average, reaching a high of GBX 595 ($8.06), with a last trading price of GBX 585 ($7.93).
• Berenberg Bank reaffirmed a "buy" rating on Investec Group and set a price target of GBX 660, indicating confidence in the stock's future performance.
• Insider Stephen Koseff sold 300,000 shares for £1,695,000 at an average price of GBX 565, while corporate insiders hold 0.32% of the stock.

Investec Group (LON:INVP - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 515.02 ($6.96) and traded as high as GBX 595 ($8.04). Investec Group shares last traded at GBX 585 ($7.91), with a volume of 1,387,058 shares.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a "buy" rating and set a GBX 660 price objective on shares of Investec Group in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of GBX 660.

Investec Group Stock Performance

The stock has a market cap of £5.05 billion, a PE ratio of 798.72, a PEG ratio of 0.67 and a beta of 1.05. The stock has a fifty day moving average price of GBX 555.30 and a 200 day moving average price of GBX 515.97.

Insider Buying and Selling

In other Investec Group news, insider Stephen Koseff sold 300,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of GBX 565, for a total value of £1,695,000. Insiders own 0.32% of the company's stock.

Investec Group Company Profile

Investec Group engages in the provision of various financial products and services in South Africa, the United Kingdom, and internationally. The company provides private banking services; wealth services, including wealth and portfolio management, stockbroking, and offshore and retirement investment, and intergenerational wealth solutions; savings accounts; personal and property financing, and finance for practice; and insurance solutions covering severe illness, disability, life, mortgage and income protection, and business overloads.