Schroders plc (LON:SDR – Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as GBX 347 ($4.36) and last traded at GBX 348 ($4.37), with a volume of 1338146 shares. The stock had previously closed at GBX 348.60 ($4.38).
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on SDR. JPMorgan Chase & Co. reduced their price target on shares of Schroders from GBX 490 ($6.16) to GBX 489 ($6.14) and set an “overweight” rating on the stock in a report on Tuesday, March 5th. Royal Bank of Canada lowered their target price on Schroders from GBX 380 ($4.77) to GBX 375 ($4.71) and set a “sector perform” rating on the stock in a report on Tuesday.
Get Our Latest Stock Report on Schroders
Schroders Stock Down 0.3 %
Schroders Increases Dividend
The company also recently disclosed a dividend, which will be paid on Thursday, May 2nd. Investors of record on Thursday, March 21st will be paid a dividend of GBX 15 ($0.19) per share. This is an increase from Schroders’s previous dividend of $6.50. The ex-dividend date of this dividend is Thursday, March 21st. This represents a dividend yield of 3.9%. Schroders’s dividend payout ratio is presently 9,166.67%.
Insiders Place Their Bets
In other Schroders news, insider Richard Oldfield purchased 63 shares of Schroders stock in a transaction on Monday, February 12th. The shares were bought at an average price of GBX 403 ($5.06) per share, with a total value of £253.89 ($318.92). 43.10% of the stock is owned by corporate insiders.
About Schroders
Schroders plc is a publicly owned investment manager. The firm also provides advisory and consultancy services. It provides its services to financial institutions, high net worth clients, large corporate, local authority, charitable entities, individuals, pension plans, government funds, insurance companies, and endowments.
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