Close Brothers Group (LON:CBG) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Close Brothers Group plc (LON:CBG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 275.73 ($3.66) and traded as high as GBX 350.80 ($4.65). Close Brothers Group shares last traded at GBX 343.20 ($4.55), with a volume of 572,792 shares.

Wall Street Analysts Forecast Growth

CBG has been the topic of several analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a GBX 430 ($5.70) price objective on shares of Close Brothers Group in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on Close Brothers Group from GBX 610 ($8.09) to GBX 600 ($7.96) and set a “hold” rating on the stock in a report on Thursday, February 13th. Finally, Shore Capital restated a “buy” rating on shares of Close Brothers Group in a report on Tuesday, March 18th.

Close Brothers Group Stock Performance

The firm has a market capitalization of £515.87 million, a P/E ratio of 5.16, a P/E/G ratio of 1.87 and a beta of 0.82. The stock has a fifty day moving average price of GBX 304.63 and a two-hundred day moving average price of GBX 275.73.

Close Brothers Group (LON:CBG) last issued its quarterly earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.41) earnings per share for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. As a group, research analysts anticipate that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michael N. Biggs purchased 5,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average cost of GBX 288 ($3.82) per share, for a total transaction of £14,400 ($19,103.21). Company insiders own 2.91% of the company’s stock.

Close Brothers Group Company Profile

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.