Direct Line Insurance Group PLC (LON:DLG) was downgraded by equities research analysts at HSBC to a “reduce” rating in a research report issued to clients and investors on Friday, AnalystRatingsNetwork.com reports. They currently have a GBX 350 ($5.00) price objective on the stock, down from their previous price objective of GBX 382 ($5.45). HSBC’s target price suggests a potential downside of 3.98% from the stock’s current price.
Shares of Direct Line Insurance Group PLC (LON:DLG) opened at 359.9000 on Friday. The stock’s market cap is GBX 4.93 billion. Direct Line Insurance Group PLC has a 12-month low of GBX 332.00 and a 12-month high of GBX 418.90. The company has a 50 day moving average price of GBX 378.30 and a 200 day moving average price of GBX 384.23.
The firm also recently declared a dividend, which will be paid on Thursday, May 19th. Stockholders of record on Thursday, March 10th will be issued a dividend of GBX 18 ($0.26) per share. The ex-dividend date is Thursday, March 10th. This represents a dividend yield of 4.39%. This is a boost from Direct Line Insurance Group PLC’s previous dividend of $4.60.
Several other analysts have also commented on DLG. Deutsche Bank cut their target price on shares of Direct Line Insurance Group PLC from GBX 430 ($6.14) to GBX 420 ($6.00) and set a “buy” rating for the company in a research note on Wednesday, January 13th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Direct Line Insurance Group PLC in a research report on Tuesday, December 8th. Goldman Sachs reissued a “neutral” rating and set a GBX 375 ($5.35) price objective on shares of Direct Line Insurance Group PLC in a research note on Friday, December 11th. Peel Hunt restated a “buy” rating and issued a GBX 365 ($5.21) target price on shares of Direct Line Insurance Group PLC in a report on Monday, December 7th. Finally, Shore Capital reaffirmed a “sell” rating on shares of Direct Line Insurance Group PLC in a research report on Wednesday, January 27th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of GBX 370.38 ($5.29).
Direct Line Insurance Group plc is a United Kingdom-based personal motor and home insurer. The principal activity of the Company is managing its investments in subsidiaries, providing loans to those subsidiaries, raising funds for the Group and the receipt and payment of dividends. The Company’s operating segments include Motor, Home, Rescue and other personal lines, Commercial and Run-off.
Source: The Vista Voice