Royal Bank of Canada Downgrades Sabre Insurance Group Rating

Royal Bank of Canada has downgraded its rating for shares of Sabre Insurance Group (LON:SBRE) to “sector perform” in a report issued to investors on October 20, 2023. The new price target for the stock is set at GBX 135, a decrease from the previous target of GBX 170. This adjustment reflects a broader assessment of the company’s performance within the sector.

Several other financial institutions have also modified their outlook on Sabre Insurance Group recently. On October 16, 2023, Berenberg Bank reduced its price target for the company from GBX 200 to GBX 190 while maintaining a “buy” rating. Similarly, on October 17, 2023, Jefferies Financial Group lowered its price objective from GBX 116 to GBX 110, also issuing a “buy” rating. In contrast, Peel Hunt reaffirmed a “buy” rating and set a target price of GBX 195, indicating a more favorable view of the stock.

Currently, the consensus among analysts is relatively positive, with three research analysts rating the stock as a “buy” and one issuing a “hold” rating. According to MarketBeat.com, Sabre Insurance Group has an average rating of “Moderate Buy” and a consensus price target of GBX 157.50.

Insider Trading Activities

In related news, insider trading activity has been noted at Sabre Insurance Group. On October 22, 2023, insider David Neave purchased 11,625 shares of company stock at an average price of GBX 131 per share, totaling approximately £15,228.75. Another insider, Geoffrey Richard Carter, acquired 250 shares on September 24, 2023, at an average price of GBX 142, amounting to £355. Over the last quarter, insiders at Sabre Insurance Group purchased a total of 12,256 shares valued at approximately $1,611,709. Currently, corporate insiders own 1.35% of the stock.

About Sabre Insurance Group

Sabre Insurance Group plc specializes in general insurance for motor vehicles in the United Kingdom. Established in 1982 and headquartered in Dorking, United Kingdom, the company offers a range of products, including taxi, private car, and motorcycle insurance. These services are delivered through a network of insurance brokers and its proprietary brands, Go Girl and Insure 2 Drive.

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