Investec Group (LON:INVP) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Investec Group shares have surpassed their two hundred day moving average, reaching as high as GBX 584.50 ($7.91) before last trading at GBX 572.46 ($7.75).
• Berenberg Bank has set a new price target of GBX 660 and reissued a "buy" rating for the stock, which currently holds an average rating of "Buy."
• Insider Stephen Koseff sold 300,000 shares at an average price of GBX 565, totaling £1,695,000 in the transaction.

Investec Group (LON:INVP - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 512.67 ($7.00) and traded as high as GBX 584.50 ($7.98). Investec Group shares last traded at GBX 572.46 ($7.81), with a volume of 2,975,501 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank restated a "buy" rating and issued a GBX 660 price target on shares of Investec Group in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Investec Group has an average rating of "Buy" and a consensus target price of GBX 660.

Investec Group Price Performance

The stock has a market cap of £5.17 billion, a PE ratio of 817.21, a price-to-earnings-growth ratio of 0.67 and a beta of 1.05. The business has a fifty day moving average of GBX 553.55 and a 200-day moving average of GBX 514.06.

Insider Activity at Investec Group

In related news, insider Stephen Koseff sold 300,000 shares of the company'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. Corporate insiders own 0.32% of the company's stock.

About Investec Group

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.