Investec Group (LON:INVP) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

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.

Shares of Investec Group (LON:INVP - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 512.67 ($6.94) and traded as high as GBX 584.50 ($7.91). Investec Group shares last traded at GBX 572.46 ($7.75), with a volume of 2,975,501 shares trading hands.

Analysts Set New Price Targets

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

Investec Group Stock Performance

The firm has a market capitalization of £5.15 billion, a P/E ratio of 814.31, a PEG ratio of 0.67 and a beta of 1.05. The firm's 50-day moving average is GBX 551.41 and its 200 day moving average is GBX 512.67.

Insider Buying and Selling

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

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.

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