The stock of RSA Insurance Group plc (LON:RSA) gapped up by GBX 1.5 today and has GBX 586.57 target or 9.00% above today’s GBX 538.14 share price. The 8 months technical chart setup indicates low risk for the GBX 5.49B company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 586.57 price target is reached, the company will be worth GBX 494.10M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 0.12% or GBX 0.64 on November 23, hitting GBX 538.14. About 1.73M shares traded hands. RSA Insurance Group plc (LON:RSA) has risen 15.72% since April 26, 2016 and is uptrending. It has outperformed by 10.39% the S&P500.
RSA Insurance Group plc (LON:RSA) Ratings Coverage
Out of 19 analysts covering RSA Insurance Group PLC (LON:RSA), 9 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 47% are positive. GBX 595 is the highest target while GBX 354 is the lowest. The GBX 498.76 average target is -7.32% below today’s (GBX 538.14) stock price. RSA Insurance Group PLC has been the topic of 106 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm has “Overweight” rating by Barclays Capital given on Monday, August 1. The rating was maintained by Deutsche Bank with “Hold” on Monday, December 7. As per Monday, November 23, the company rating was maintained by Bernstein. The rating was maintained by AlphaValue on Thursday, December 24 with “Sell”. As per Tuesday, September 22, the company rating was maintained by Deutsche Bank. The stock of RSA Insurance Group plc (LON:RSA) earned “Buy” rating by Beaufort Securities on Friday, August 5. The firm earned “Hold” rating on Wednesday, June 29 by HSBC. The company was maintained on Thursday, September 3 by Bernstein. Bernstein maintained it with “Market Perform” rating and GBX 430 target price in Monday, December 21 report. The company was maintained on Wednesday, March 2 by Beaufort Securities.
More news for RSA Insurance Group plc (LON:RSA) were recently published by: Bloomberg.com, which released: “RSA Surges Most in Six Years as Zurich Weighs Takeover Offer” on July 28, 2015. Seekingalpha.com‘s article titled: “RSA Insurance Group’s (RSAIF) CEO Stephen Hester on Q2 2016 Results – Earnings …” and published on August 06, 2016 is yet another important article.
RSA Insurance Group plc is an international general insurer. The company has a market cap of 5.49 billion GBP. The Firm provides personal, commercial and specialty insurance services and products direct-to-customers, through brokers and affinity partners, principally in the United Kingdom and Ireland, Scandinavia and Canada. It has a 46.59 P/E ratio. It operates through divisions, including Scandinavia, Canada, UK & Ireland, Central Functions and non-core.
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