Novae Group Plc (NVA) Receives Consensus Rating of “Buy” from Brokerages

Novae Group Plc (LON:NVA) has earned a consensus rating of “Buy” from the seven ratings firms that are covering the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is GBX 786.80 ($9.72).

Several research analysts have recently weighed in on the company. Macquarie reiterated an “outperform” rating and set a GBX 729 ($9.00) price target on shares of Novae Group Plc in a research note on Monday. Peel Hunt reiterated an “add” rating and set a GBX 710 ($8.77) price target on shares of Novae Group Plc in a research note on Thursday, March 9th. Numis Securities Ltd cut their price target on Novae Group Plc from GBX 970 ($11.98) to GBX 835 ($10.31) and set a “buy” rating for the company in a research note on Tuesday, December 20th. Stockdale Securities upgraded Novae Group Plc to an “add” rating and cut their price target for the stock from GBX 780 ($9.63) to GBX 760 ($9.39) in a research note on Tuesday, January 17th. Finally, Shore Capital reiterated a “buy” rating on shares of Novae Group Plc in a research note on Thursday, March 9th.

Novae Group Plc (LON:NVA) opened at 630.50 on Thursday. Novae Group Plc has a 52 week low of GBX 562.10 and a 52 week high of GBX 900.00. The firm’s market cap is GBX 395.95 million. The firm’s 50-day moving average price is GBX 640.00 and its 200 day moving average price is GBX 725.88.

The business also recently announced a dividend, which will be paid on Friday, May 19th. Shareholders of record on Thursday, April 20th will be paid a GBX 7.50 ($0.09) dividend. The ex-dividend date is Thursday, April 20th. This represents a yield of 1.21%.

In related news, insider Matthew K. Fosh bought 13,008 shares of the business’s stock in a transaction on Wednesday, March 15th. The stock was acquired at an average price of GBX 626 ($7.73) per share, for a total transaction of £81,430.08 ($100,568.21). Also, insider Reeken Patel bought 72 shares of the business’s stock in a transaction on Friday, March 3rd. The stock was bought at an average price of GBX 627 ($7.74) per share, with a total value of £451.44 ($557.54). In the last 90 days, insiders acquired 13,215 shares of company stock valued at $8,277,255.

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About Novae Group Plc

Novae Group plc is a United Kingdom-based holding company. The Company is engaged in a diversified property and casualty (re)insurance business. The Company operates in three segments: Property; Casualty, and Marine, Aviation & Political Risk (MAP). The Property segment comprises approximately 10 underwriting units.

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