Provident Financial PLC (LON:PFG) Receives a Downgrade
In a recent report revealed to clients and investors on Thursday, 10 December, Numis has decided to cut their rating on shares of Provident Financial PLC (LON:PFG) to a “Sell” and has published a one year target price equal to GBX 2641.00. This target is -22.15% from PFG’s current share price.
From a total of 11 analysts covering Provident Financial PLC (LON:PFG) stock, 2 rate it a ”Buy”, 1 a “Sell”, and 8 a ”Hold”. This means that 18% of the ratings are positive. The highest target price is GBX 3740 while the lowest target price is GBX 2450. The mean of all analyst targets is GBX 3110.82 with a -9.04% below today’s (GBX 3361) stock price. Provident Financial PLC was the topic of 28 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Peel Hunt maintained shares on December 7 with “Hold” rating. Societe Generale maintained shares with “Hold” rating and GBX 2990 target share price in a report from an October 16. Liberum Capital maintained PFG stock in a recent report from November 18 with “Sell” rating. Panmure Gordon maintained the rating on October 16. Panmure Gordon has a “Hold” rating and a GBX 3000 price target on shares. Finally, JP Morgan maintained the stock with “Overweight” rating in a report issued on an October 19.
Approximately 96,956 shares of stock traded hands. Provident Financial plc (LON:PFG) has risen 15.53% since May 13, 2015 and is uptrending. It has outperformed by 17.46% the S&P500.
The overall sentiment of institutions has increased to 1.3 in Q2 2015. Its up 0.04, from 1.26 in 2015Q2. The ratio improved, as 37 institutions have sold all the shares of Provident Financial plc that they owned while 126 funds have taken shares off the table. 42 funds have purchased shares for the first time while 170 added to their positions. These institutions now hold 172.54 million shares or 12.70% less than the 197.63 million shares they owned in 2015Q2.
The Fund Nippon Life Insurance Co currently is holding shares equating to 22.68% of its total portfolio in Provident Financial plc representing a total of 18.14 million shares. Another fund,Capital Management Corp Va, is holding a total of 205,719 shares equating to 3.91% of their holdings. Additionally, Tealwood Asset Management Inc has a 156,076 share stake in Provident Financial plc which represents 3.22% of their total portfolio. The Fund, Iowa State Bank, based out of Iowa, has also built up a stake in the stock, which represents a total of 2.71% of their total portfolio. Finally American Trust Investment Advisors Llc, a fund which is based in the state of New Hampshire reported a total holdings of 45,121 shares.
Insider activity is a very important aspect to track on any stock. Going back to May 22, 2015, shareholders of Provident Financial plc have witnessed 0 insider purchases, and a total of 11 sales equating to a net activity of approximately $7.88 million . Zimpleman Larry D sold 10,000 shares worth approximately $494,900. Mccaughan James P sold 15,940 shares worth approximately $793,015. Houston Daniel Joseph sold 1,610 shares worth approximately $91,770. Lillis Terrance J. sold 3,235 shares worth approximately $180,351. The company insider Strable-Soethout Deanna D sold 22 shares worth $1,210.
Provident Financial plc is a United Kingdom financial services company. The company has a market cap of 5.03 billion GBP. The Firm is engaged in providing personal credit products for clients in the United Kingdom lending market. It has 25.06 P/E ratio. The Firm operates in three divisions: the Consumer Credit Division, Vanquis Bank and Central.
According to Zacks Investment Research, “The Principal Financial Group is a leading provider of retirement savings, investment and insurance products and services. In addition, they offer a broad range of individual life and disability insurance, group life and health insurance, and residential mortgage loan origination and servicing in the United States.” Get a free copy of the Zacks research report on Provident Financial plc (PFG).