Published On: Sat, Sep 10th, 2016

Hastings Group Hldg PLC (HSTG) Receives Underperform Rating from Macquarie

Hastings Group Hldg PLC (LON:HSTG)‘s stock had its “underperform” rating reiterated by investment analysts at Macquarie in a report released on Wednesday. They presently have a GBX 148 ($1.97) price objective on the stock. Macquarie’s price objective indicates a potential downside of 29.86% from the stock’s current price.
A number of other brokerages have also recently issued reports on HSTG. Peel Hunt increased their price objective on shares of Hastings Group Hldg PLC from GBX 210 ($2.80) to GBX 240 ($3.20) and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Berenberg Bank increased their price objective on shares of Hastings Group Hldg PLC from GBX 210 ($2.80) to GBX 234 ($3.12) and gave the stock a “buy” rating in a research note on Tuesday, August 16th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 240 ($3.20) price objective on shares of Hastings Group Hldg PLC in a research note on Friday, August 12th. Beaufort Securities reissued a “buy” rating on shares of Hastings Group Hldg PLC in a research note on Friday, August 12th. Finally, Shore Capital reissued a “sell” rating on shares of Hastings Group Hldg PLC in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of GBX 207.22 ($2.76).
Hastings Group Hldg PLC (LON:HSTG) traded down 1.49% during mid-day trading on Wednesday, reaching GBX 211.00. 952,044 shares of the company’s stock traded hands. The stock’s market capitalization is GBX 1.39 billion. The stock has a 50-day moving average price of GBX 207.75 and a 200-day moving average price of GBX 183.07. Hastings Group Hldg PLC has a 12-month low of GBX 143.24 and a 12-month high of GBX 228.36.

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The firm also recently disclosed a dividend, which will be paid on Friday, November 4th. Shareholders of record on Thursday, October 6th will be paid a GBX 3.30 ($0.04) dividend. This is a boost from Hastings Group Hldg PLC’s previous dividend of $2.20. This represents a dividend yield of 1.56%. The ex-dividend date is Thursday, October 6th.
About Hastings Group Hldg PLC
Hastings Group Holdings plc, formerly Hastings Group Holdings Limited, is a holding company. The Company provides general insurance. Its segments include Underwriting, Retail and Corporate. The Underwriting segment includes underwriting business based in Gibraltar. The Underwriting segment includes its subsidiaries, Advantage Insurance Company Limited (AICL), which is engaged in underwriting general insurance, primarily private car insurance in the United Kingdom, and Conquest House Limited, which owns property utilized by the Company.

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