European Wealth Group (LON:EWG) received a downgrade from Deutsche Bank Aktiengesellschaft, which has changed its rating to “hold” in a research report released on September 5, 2023. The bank adjusted its price target for the stock to GBX 110, an increase from the previous target of GBX 90. This new price objective suggests a potential upside of 8.37% based on the stock’s last closing price.
In a separate analysis, Berenberg Bank maintained a “buy” rating for European Wealth Group, setting a price target of GBX 120 on September 4, 2023. Currently, one analyst rates the stock as a buy while another has issued a hold rating. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” with a consensus price target of GBX 115.
Current Performance and Market Insights
On September 5, 2023, European Wealth Group’s stock opened at GBX 101.50. The stock has fluctuated within a fifty-two week range, reaching a low of GBX 98.56 and a high of GBX 115. The company has a market capitalization of approximately £702.57 million and a significantly high price-to-earnings (P/E) ratio of 26,025.64.
In related news, insider transactions indicate confidence in the company’s future. On September 4, 2023, insider Steve Dryden acquired 33,819 shares at an average price of GBX 105 per share, totaling around £35,509.95. Insiders now hold 47.70% of the company’s stock, suggesting a strong internal belief in the firm’s potential.
About European Wealth Group
European Wealth Group Limited specializes in investment management and financial planning services within the United Kingdom. The firm offers a range of services including advisory and discretionary investment management, family office solutions, regular savings plans, individual and family protection strategies, tax and estate planning, and treasury management.
As the company navigates the evolving financial landscape, its recent ratings changes and insider investments will be closely monitored by investors and analysts alike.
