abrdn (LON:ABDN) Shares Down 0.7% – Here’s Why

abrdn plc (LON:ABDN) shares dropped 0.7% during trading on Thursday . The stock traded as low as GBX 156.50 ($2.05) and last traded at GBX 156.95 ($2.05). Approximately 3,434,600 shares were traded during trading, a decline of 62% from the average daily volume of 9,052,975 shares. The stock had previously closed at GBX 158.05 ($2.07).

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a GBX 155 ($2.03) price target on shares of abrdn in a research note on Thursday, June 13th.

abrdn Stock Down 0.7 %

The company has a debt-to-equity ratio of 11.74, a current ratio of 225.80 and a quick ratio of 24.97. The firm has a 50-day moving average of GBX 153.44 and a 200 day moving average of GBX 152.38. The stock has a market capitalization of £2.79 billion, a price-to-earnings ratio of 923.24, a PEG ratio of 12.70 and a beta of 1.25.

abrdn Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, September 24th. Investors of record on Thursday, August 15th were paid a GBX 7.30 ($0.10) dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a dividend yield of 4.56%. abrdn’s dividend payout ratio is presently 8,823.53%.

abrdn Company Profile

abrdn plc provides asset management services in the United Kingdom, Europe, North America, and Asia. The company offers investment solutions and funds; long-term savings and investment products to individual and corporate customers; and life insurance and savings products. It provides its products through institutional, wholesale, and retail distribution channels.