Novae Group Plc (NVA) Rating Lowered to Hold at Numis Securities Ltd

Numis Securities Ltd downgraded shares of Novae Group Plc (LON:NVA) to a hold rating in a report issued on Friday, May 12th. The brokerage currently has GBX 650 ($8.22) target price on the stock.

NVA has been the topic of several other reports. Shore Capital reissued a buy rating on shares of Novae Group Plc in a research note on Monday, February 27th. Peel Hunt reduced their target price on Novae Group Plc from GBX 850 ($10.75) to GBX 745 ($9.42) and set an add rating on the stock in a research note on Tuesday, January 24th. Macquarie reissued an outperform rating and set a GBX 732 ($9.26) target price on shares of Novae Group Plc in a research note on Monday, January 16th. Finally, Stockdale Securities raised Novae Group Plc to an add rating and reduced their target price for the company from GBX 780 ($9.87) to GBX 760 ($9.61) in a research note on Tuesday, January 17th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of GBX 685 ($8.67).

Shares of Novae Group Plc (LON NVA) traded up 1.89% during mid-day trading on Friday, reaching GBX 540.50. 184,205 shares of the company’s stock were exchanged. Novae Group Plc has a 52-week low of GBX 490.32 and a 52-week high of GBX 852.00. The stock’s market cap is GBX 337.64 million. The stock’s 50-day moving average is GBX 569.21 and its 200-day moving average is GBX 636.49.

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In other news, insider Matthew K. Fosh purchased 3,135 shares of Novae Group Plc stock in a transaction that occurred on Thursday, April 6th. The shares were bought at an average cost of GBX 633 ($8.01) per share, with a total value of £19,844.55 ($25,103.80). Also, insider Matthew K. Fosh sold 15,628 shares of the company’s stock in a transaction on Friday, April 7th. The stock was sold at an average price of GBX 625 ($7.91), for a total value of £97,675 ($123,561.04). Over the last ninety days, insiders purchased 3,360 shares of company stock worth $2,118,699.

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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