JPMorgan Chase & Co. Cuts Man Group (LON:EMG) Price Target to GBX 242

Man Group (LON:EMG) had its target price cut by JPMorgan Chase & Co. from GBX 247 ($3.19) to GBX 242 ($3.12) in a research report released on Thursday, Marketbeat Ratings reports. They currently have an overweight rating on the investment management company’s stock.

Several other research analysts have also recently issued reports on the company. Canaccord Genuity Group upgraded Man Group to a “buy” rating and increased their price objective for the stock from GBX 194 ($2.50) to GBX 272 ($3.51) in a research report on Wednesday, December 11th. Canaccord Genuity Group upgraded Man Group to a “buy” rating and increased their price objective for the stock from GBX 194 ($2.50) to GBX 272 ($3.51) in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Man Group currently has a consensus rating of “Moderate Buy” and an average target price of GBX 281.67 ($3.64).

Man Group Stock Down 0.3 %

Shares of EMG opened at GBX 207.80 ($2.68) on Thursday. Man Group has a 12-month low of GBX 196.87 ($2.54) and a 12-month high of GBX 279.23 ($3.61). The company has a current ratio of 0.99, a quick ratio of 1.58 and a debt-to-equity ratio of 27.76. The company’s 50-day moving average price is GBX 209.46 and its 200 day moving average price is GBX 209.48. The firm has a market cap of £3.00 billion, a P/E ratio of 9.80, a price-to-earnings-growth ratio of -1.15 and a beta of 0.71.

Man Group Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Thursday, April 10th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a dividend yield of 4.25%. This is a boost from Man Group’s previous dividend of $0.06. Man Group’s dividend payout ratio (DPR) is currently 61.33%.

Insider Activity

In other news, insider Laurie Fitch purchased 7,390 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was acquired at an average price of GBX 213 ($2.75) per share, for a total transaction of £15,740.70 ($20,323.69). Also, insider Robyn Grew sold 299,898 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of GBX 210 ($2.71), for a total value of £629,785.80 ($813,151.45). Company insiders own 0.95% of the company’s stock.

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.