Aberdeen Asset Management plc (ADN) Downgraded by Bank of America Corp. to “Neutral”
Aberdeen Asset Management plc (LON:ADN) was downgraded by stock analysts at Bank of America Corp. to a “neutral” rating in a research note issued to investors on Tuesday. They currently have a GBX 295 ($3.66) price target on the stock. Bank of America Corp.’s price objective suggests a potential upside of 9.71% from the stock’s previous close.
ADN has been the subject of a number of other research reports. BNP Paribas upped their price objective on Aberdeen Asset Management plc from GBX 235 ($2.92) to GBX 260 ($3.23) and gave the company an “underperform” rating in a research note on Tuesday, October 11th. Beaufort Securities restated a “buy” rating on shares of Aberdeen Asset Management plc in a research note on Tuesday, September 13th. Peel Hunt restated a “hold” rating and issued a GBX 330 ($4.09) price objective on shares of Aberdeen Asset Management plc in a research note on Monday. Goldman Sachs Group Inc. restated a “sell” rating and issued a GBX 300 ($3.72) price objective (down previously from GBX 340 ($4.22)) on shares of Aberdeen Asset Management plc in a research note on Tuesday, September 27th. Finally, Citigroup Inc. restated a “sell” rating on shares of Aberdeen Asset Management plc in a research note on Friday, September 30th. Eight research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of GBX 281.40 ($3.49).
Shares of Aberdeen Asset Management plc (LON:ADN) traded down 2.55% on Tuesday, hitting GBX 267.80. 8,971,426 shares of the stock traded hands. Aberdeen Asset Management plc has a 52 week low of GBX 208.50 and a 52 week high of GBX 354.40. The stock’s market cap is GBX 3.44 billion. The stock has a 50 day moving average price of GBX 309.25 and a 200-day moving average price of GBX 305.75.
The company also recently disclosed a dividend, which will be paid on Thursday, February 9th. Stockholders of record on Thursday, December 8th will be given a dividend of GBX 12 ($0.15) per share. The ex-dividend date of this dividend is Thursday, December 8th. This is a positive change from Aberdeen Asset Management plc’s previous dividend of $7.50. This represents a dividend yield of 4.37%.
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In other news, insider Gilbert,Martin J sold 1,631,343 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of GBX 325 ($4.03), for a total transaction of £5,301,864.75 ($6,577,179.94). Also, insider Julie Chakraverty acquired 3,042 shares of Aberdeen Asset Management plc stock in a transaction dated Monday, September 26th. The shares were purchased at an average price of GBX 326 ($4.04) per share, for a total transaction of £9,916.92 ($12,302.34).
Aberdeen Asset Management plc Company Profile
Aberdeen Asset Management PLC is a United Kingdom-based global asset management company engaged in the active management of financial assets. It manages assets for both institutional and retail clients. The Company’s institutional clients include pension funds, corporates, sovereign wealth funds, government agencies and insurance companies.
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