Man Group (LON:EMG) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Man Group Plc (LON:EMG)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 209.42 ($2.71) and traded as high as GBX 210.80 ($2.73). Man Group shares last traded at GBX 208.20 ($2.69), with a volume of 233,340,094 shares traded.

Wall Street Analyst Weigh In

EMG has been the topic of several recent analyst reports. Canaccord Genuity Group upgraded Man Group to a “buy” rating and raised their price objective for the company from GBX 194 ($2.51) to GBX 272 ($3.52) in a research note on Wednesday, December 11th. Canaccord Genuity Group raised shares of Man Group to a “buy” rating and raised their price target for the company from GBX 194 ($2.51) to GBX 272 ($3.52) in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. cut their price target on shares of Man Group from GBX 247 ($3.20) to GBX 242 ($3.13) and set an “overweight” rating on the stock in a report on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Man Group has an average rating of “Moderate Buy” and an average price target of GBX 281.67 ($3.65).

Man Group Stock Performance

The company’s 50-day moving average is GBX 209.85 and its two-hundred day moving average is GBX 209.41. The company has a quick ratio of 1.58, a current ratio of 0.99 and a debt-to-equity ratio of 27.76. The company has a market cap of £3.01 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of -1.15 and a beta of 0.71.

Man Group Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Thursday, April 10th will be given a dividend of $0.12 per share. This is an increase from Man Group’s previous dividend of $0.06. This represents a dividend yield of 4.25%. The ex-dividend date is Thursday, April 10th. Man Group’s dividend payout ratio is currently 61.33%.

Insider Buying and Selling

In other Man Group news, insider Dixit Joshi bought 46,051 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of GBX 217 ($2.81) per share, for a total transaction of £99,930.67 ($129,343.35). Also, insider Robyn Grew sold 299,898 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of GBX 210 ($2.72), for a total transaction of £629,785.80 ($815,151.18). 0.95% of the stock is currently owned by insiders.

About Man Group

With a heritage in aiming to deliver attractive performance and tailored client solutions, Man Group is a highly active investment manager, powered by cutting edge investment technology. As a manager of millions of savers’ capital, we have a responsibility as stewards of those investments to create a better, more sustainable future for investors and society.