Macquarie Lowers Novae Group Plc (NVA) Price Target to GBX 715

Novae Group Plc (LON:NVA) had its target price lowered by Macquarie from GBX 729 ($9.22) to GBX 715 ($9.04) in a research report sent to investors on Friday, May 12th, MarketBeat Ratings reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on the stock. Stockdale Securities reiterated an add rating on shares of Novae Group Plc in a report on Tuesday, April 18th. Peel Hunt reissued an add rating and set a GBX 665 ($8.41) target price on shares of Novae Group Plc in a research report on Wednesday, May 10th. Shore Capital reissued a buy rating on shares of Novae Group Plc in a research report on Wednesday, May 10th. Finally, Canaccord Genuity decreased their target price on shares of Novae Group Plc from GBX 680 ($8.60) to GBX 635 ($8.03) and set a hold rating for the company in a research report on Wednesday, May 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Novae Group Plc presently has a consensus rating of Hold and an average price target of GBX 685 ($8.67).

Novae Group Plc (NVA) opened at 540.50 on Friday. Novae Group Plc has a 12-month low of GBX 490.32 and a 12-month high of GBX 852.00. The firm’s 50-day moving average price is GBX 569.21 and its 200-day moving average price is GBX 636.49. The company’s market cap is GBX 337.64 million.

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In other news, insider Matthew K. Fosh acquired 72 shares of Novae Group Plc stock in a transaction on Monday, April 3rd. The stock was acquired at an average cost of GBX 630 ($7.97) per share, with a total value of £453.60 ($573.81). Also, insider Reeken Patel acquired 81 shares of Novae Group Plc stock in a transaction on Monday, June 5th. The stock was purchased at an average cost of GBX 548 ($6.93) per share, with a total value of £443.88 ($561.52). Insiders acquired a total of 3,360 shares of company stock valued at $2,118,699 over the last ninety days.

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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