Close Brothers Group (LON:CBG) Trading Up 21.6% – Here’s Why

Posted by Paula Ricardo on Jan 23rd, 2025

Close Brothers Group plc (LON:CBG – Get Free Report) rose 21.6% during mid-day trading on Tuesday . The company traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.68). Approximately 4,494,428 shares changed hands during mid-day trading, an increase of 22% from the average daily volume of 3,694,198 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analysts Set New Price Targets

Several research firms have recently commented on CBG. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 610 ($7.53) price target on shares of Close Brothers Group in a research report on Friday, November 22nd. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a report on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Close Brothers Group presently has an average rating of “Buy” and an average target price of GBX 556.60 ($6.88).

Get Our Latest Research Report on Close Brothers Group

Close Brothers Group Stock Down 2.9 %

The stock has a market capitalization of £449.66 million, a PE ratio of 498.00, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The stock has a fifty day moving average of GBX 227.33 and a 200-day moving average of GBX 362.32.

Insider Activity

In other news, insider Mike Morgan sold 10,885 shares of Close Brothers Group stock in a transaction on Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.98), for a total transaction of £26,232.85 ($32,402.24). Company insiders own 2.91% of the company’s stock.

About Close Brothers Group

(Get Free Report)

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.