Rathbones Group (LON:RAT) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Rathbones Group Plc (LON:RAT)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,990.74 and traded as low as GBX 1,642. Rathbones Group shares last traded at GBX 1,698, with a volume of 2,049,480 shares changing hands.

Wall Street Analysts Forecast Growth

RAT has been the subject of several research reports. Jefferies Financial Group restated an “underperform” rating and set a GBX 1,780 price objective on shares of Rathbones Group in a research report on Wednesday, June 17th. Royal Bank Of Canada decreased their target price on Rathbones Group from GBX 2,400 to GBX 1,950 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of GBX 1,982.50.

Rathbones Group Trading Up 2.7%

The company has a debt-to-equity ratio of 14.65, a current ratio of 190.82 and a quick ratio of 0.14. The business’s 50-day moving average is GBX 1,810.15 and its 200 day moving average is GBX 1,990.74. The firm has a market capitalization of £1.75 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of -26.52 and a beta of 0.72.

Rathbones Group declared that its Board of Directors has initiated a share buyback program on Wednesday, June 17th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Rathbones Group

In other Rathbones Group news, insider Jonathan Sorrell  bought 15,320 shares of the stock in a transaction dated Tuesday, June 16th. The shares were bought at an average cost of GBX 1,630 per share, with a total value of £249,716. Also, insider Iain Cummings purchased 1,282 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was acquired at an average price of GBX 1,621 per share, with a total value of £20,781.22. Insiders purchased a total of 33,236 shares of company stock valued at $54,276,234 over the last ninety days. Company insiders own 1.65% of the company’s stock.

About Rathbones Group

With roots dating back to 1742, Rathbones is one of the UK’s leading providers of investment and wealth management services for private clients (individuals and families), charities, trustees and professional partners. Rathbones’ purpose is to help more people invest their money well, so they can live well.

Rathbones has been trusted for generations to manage, preserve and grow clients’ wealth and services include discretionary investment management, fund management, tax planning, trust and company management, financial advice and banking services.