Peel Hunt Reaffirms Add Rating for Berkeley Group (LON:BKG)

Peel Hunt reiterated their add rating on shares of Berkeley Group (LON:BKG) in a report issued on Tuesday morning, ThisIsMoney.Co.Uk reports.

A number of other brokerages also recently issued reports on BKG. Berenberg Bank boosted their price objective on Berkeley Group from GBX 3,280 ($42.86) to GBX 3,480 ($45.47) and gave the company a hold rating in a research note on Friday, June 21st. Jefferies Financial Group reiterated a hold rating on shares of Berkeley Group in a research note on Tuesday, June 25th. UBS Group reiterated a buy rating and set a GBX 4,700 ($61.41) price objective (up from GBX 4,600 ($60.11)) on shares of Berkeley Group in a research note on Thursday, June 20th. Canaccord Genuity cut their price objective on Berkeley Group from GBX 3,980 ($52.01) to GBX 3,850 ($50.31) and set a buy rating for the company in a research note on Thursday, June 20th. Finally, Goldman Sachs Group reiterated a neutral rating on shares of Berkeley Group in a research note on Thursday, June 13th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. Berkeley Group currently has an average rating of Hold and an average price target of GBX 3,880.22 ($50.70).

Berkeley Group stock opened at GBX 3,969 ($51.86) on Tuesday. The business has a 50-day simple moving average of GBX 3,829.16 and a two-hundred day simple moving average of GBX 3,765.42. The company has a market cap of $5.00 billion and a P/E ratio of 8.45. Berkeley Group has a 52-week low of GBX 3,170 ($41.42) and a 52-week high of GBX 3,992 ($52.16). The company has a quick ratio of 0.85, a current ratio of 2.83 and a debt-to-equity ratio of 10.12.

The business also recently disclosed a dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 22nd will be paid a dividend of GBX 20.08 ($0.26) per share. The ex-dividend date of this dividend is Thursday, August 22nd. This is an increase from Berkeley Group’s previous dividend of $7.12. This represents a dividend yield of 0.53%. Berkeley Group’s payout ratio is 0.09%.

In related news, insider Sean Ellis sold 31,295 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of GBX 3,897 ($50.92), for a total value of £1,219,566.15 ($1,593,579.18). Also, insider Anthony W. Pidgley sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of GBX 3,720 ($48.61), for a total value of £37,200,000 ($48,608,388.87). Over the last quarter, insiders have sold 1,062,795 shares of company stock valued at $3,962,192,115.

Berkeley Group Company Profile

The Berkeley Group Holdings plc, together with its subsidiaries, engages in the residential-led and mixed-use property development activities in the United Kingdom. It operates under the Berkeley, St Edward, St George, St James, St Joseph, St William, Berkeley First, Berkeley Commercial, Berkeley Partnership, and Berkeley Modular brands.

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Analyst Recommendations for Berkeley Group (LON:BKG)

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