3i Group plc (III) Earns Buy Rating from Canaccord Genuity

Canaccord Genuity reissued their buy rating on shares of 3i Group plc (LON:III) in a research report report published on Friday, May 12th. The firm currently has a GBX 875 ($11.07) target price on the stock.

Separately, Morgan Stanley raised 3i Group plc to an overweight rating and raised their price objective for the company from GBX 710 ($8.98) to GBX 823 ($10.41) in a research note on Wednesday, March 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of GBX 915.83 ($11.59).

Shares of 3i Group plc (LON:III) traded up 3.52% during trading on Friday, reaching GBX 911.50. 7,491,176 shares of the company were exchanged. 3i Group plc has a 52-week low of GBX 468.50 and a 52-week high of GBX 948.00. The stock’s market capitalization is GBX 8.76 billion. The stock has a 50-day moving average of GBX 5.44 and a 200 day moving average of GBX 4.94.

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The business also recently announced a dividend, which will be paid on Friday, July 21st. Investors of record on Thursday, June 15th will be given a dividend of GBX 18.50 ($0.23) per share. This is a boost from 3i Group plc’s previous dividend of $8.00. The ex-dividend date of this dividend is Thursday, June 15th. This represents a dividend yield of 2.2%.

In related news, insider Caroline Banszky bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average price of GBX 838 ($10.60) per share, with a total value of £25,140 ($31,802.66). Also, insider Julia Wilson sold 32,178 shares of 3i Group plc stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of GBX 928 ($11.74), for a total value of £298,611.84 ($377,750.59). In the last ninety days, insiders have purchased 3,056 shares of company stock worth $2,558,520.

About 3i Group plc

3i Group plc is an investment company with approximately three complementary businesses, Private Equity, Infrastructure and Debt Management, specializing in core investment markets in northern Europe and North America. The Company’s Private Equity business includes investment and asset management to generate capital returns, and is focused on consumer, industrial and business services sectors.

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