Close Brothers Group (LON:CBG) Shares Up 22.6% – Here’s What Happened

Posted by Bryan LeMar on Jan 23rd, 2025

Close Brothers Group plc (LON:CBG – Get Free Report)’s share price rose 22.6% during trading on Tuesday . The stock traded as high as GBX 303.96 ($3.74) and last traded at GBX 300.10 ($3.69). Approximately 39,026,629 shares were traded during mid-day trading, an increase of 533% from the average daily volume of 6,160,783 shares. The stock had previously closed at GBX 244.80 ($3.01).

Analyst Ratings Changes

A number of brokerages recently issued reports on CBG. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 610 ($7.51) price target on shares of Close Brothers Group in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 556.60 ($6.85).

Check Out Our Latest Stock Report on CBG

Close Brothers Group Price Performance

The company’s 50 day simple moving average is GBX 225.09 and its 200 day simple moving average is GBX 363.51. The firm has a market cap of £466.22 million, a price-to-earnings ratio of 516.33, a P/E/G ratio of 1.87 and a beta of 0.82.

Insider Buying and Selling

In related news, insider Mike Morgan sold 10,885 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.97), for a total value of £26,232.85 ($32,294.53). 2.91% of the stock is currently owned by insiders.

Close Brothers Group Company Profile

(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.