Ninety One Group (LON:N91) Reaches New 1-Year High - Here's What Happened

Key Points

• Ninety One Group shares reached a new 52-week high, trading as high as GBX 202 ($2.74) before closing at GBX 194.99 ($2.65).
• JPMorgan Chase & Co. raised their price target for Ninety One Group from GBX 178 ($2.42) to GBX 190 ($2.58) and maintained a "neutral" rating.
• Insider Hendrik du Toit purchased 118,000 shares at an average cost of GBX 196 ($2.66), indicating strong insider confidence in the company's prospects.

Shares of Ninety One Group (LON:N91 - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 202 ($2.74) and last traded at GBX 194.99 ($2.65), with a volume of 12749 shares trading hands. The stock had previously closed at GBX 193 ($2.62).

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their price target on shares of Ninety One Group from GBX 178 ($2.42) to GBX 190 ($2.58) and gave the company a "neutral" rating in a report on Friday, July 18th.

Ninety One Group Price Performance

The stock's fifty day moving average price is GBX 186.07 and its 200-day moving average price is GBX 160.40. The firm has a market cap of £1.72 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 15.99 and a beta of 0.66. The company has a debt-to-equity ratio of 25.60, a current ratio of 1.03 and a quick ratio of 0.07.

Ninety One Group (LON:N91 - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported GBX 15.50 ($0.21) EPS for the quarter. Ninety One Group had a net margin of 26.24% and a return on equity of 42.90%. Equities research analysts predict that Ninety One Group will post 15.1025641 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Hendrik du Toit acquired 118,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were purchased at an average cost of GBX 196 ($2.66) per share, with a total value of £231,280 ($314,068.44). Insiders own 58.29% of the company's stock.

About Ninety One Group

Ninety One Group operates as an independent global asset manager worldwide. It serves private and public sector pension funds, sovereign wealth funds, insurers, corporates, foundations, and central banks, as well as large retail financial groups, wealth managers, public and private equity as well as debt, private banks, and intermediaries.

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