Close Brothers Group (LON:CBG) Trading Down 3.9% - Here's What Happened

Close Brothers Group plc (LON:CBG - Get Free Report)'s share price fell 3.9% on Friday . The company traded as low as GBX 353.20 ($4.59) and last traded at GBX 353.20 ($4.59). 595,422 shares traded hands during trading, a decline of 33% from the average session volume of 890,759 shares. The stock had previously closed at GBX 367.40 ($4.77).

Analyst Upgrades and Downgrades

CBG has been the topic of a number of research analyst reports. Shore Capital reiterated a "buy" rating on shares of Close Brothers Group in a research report on Friday. Deutsche Bank Aktiengesellschaft began coverage on Close Brothers Group in a report on Friday, July 5th. They set a "buy" rating and a GBX 610 ($7.92) price objective on the stock. Finally, Royal Bank of Canada raised shares of Close Brothers Group to an "outperform" rating and raised their target price for the company from GBX 375 ($4.87) to GBX 620 ($8.05) in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of GBX 556.60 ($7.23).

Close Brothers Group Price Performance

The firm has a market capitalization of £416.26 million, a PE ratio of 461.00, a P/E/G ratio of 1.87 and a beta of 0.82. The business has a 50-day simple moving average of GBX 449.49 and a 200-day simple moving average of GBX 464.82.

Insider Activity at Close Brothers Group

In other news, insider Michael N. Biggs acquired 3,500 shares of the company's stock in a transaction on Tuesday, September 24th. The stock was bought at an average cost of GBX 416 ($5.40) per share, with a total value of £14,560 ($18,904.18). In the last 90 days, insiders have purchased 3,600 shares of company stock worth $1,501,136. 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.