NewEdge Wealth LLC Grows Position in NatWest Group plc $NWG

NewEdge Wealth LLC increased its holdings in NatWest Group plc (NYSE:NWG) by 20.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 388,763 shares of the company’s stock after buying an additional 65,355 shares during the quarter. NewEdge Wealth LLC’s holdings in NatWest Group were worth $5,793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barometer Capital Management Inc. lifted its holdings in shares of NatWest Group by 926.6% during the 1st quarter. Barometer Capital Management Inc. now owns 87,500 shares of the company’s stock valued at $1,304,000 after buying an additional 78,977 shares during the period. PNC Financial Services Group Inc. raised its stake in NatWest Group by 7.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 94,162 shares of the company’s stock worth $1,403,000 after acquiring an additional 6,640 shares during the period. Summit Global Investments lifted its holdings in NatWest Group by 15.2% during the first quarter. Summit Global Investments now owns 66,755 shares of the company’s stock valued at $995,000 after purchasing an additional 8,804 shares in the last quarter. Gallacher Capital Management LLC lifted its holdings in NatWest Group by 2.6% during the first quarter. Gallacher Capital Management LLC now owns 51,330 shares of the company’s stock valued at $765,000 after purchasing an additional 1,309 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of NatWest Group by 27.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 46,421 shares of the company’s stock worth $708,000 after purchasing an additional 9,913 shares during the period. Institutional investors own 1.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NWG has been the subject of a number of analyst reports. Wall Street Zen cut shares of NatWest Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Zacks Research cut shares of NatWest Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. BNP Paribas Exane raised shares of NatWest Group from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Weiss Ratings lowered NatWest Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Finally, Berenberg Bank started coverage on NatWest Group in a report on Wednesday, June 24th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

NatWest Group Trading Down 2.4%

Shares of NWG opened at $17.86 on Friday. The firm has a market cap of $71.16 billion, a P/E ratio of 9.50, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. NatWest Group plc has a 1 year low of $13.49 and a 1 year high of $19.35. The company has a 50 day simple moving average of $16.83 and a two-hundred day simple moving average of $16.53.

NatWest Group (NYSE:NWG) last released its earnings results on Friday, May 1st. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. NatWest Group had a net margin of 19.11% and a return on equity of 13.30%. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.80 billion. On average, equities analysts expect that NatWest Group plc will post 1.94 earnings per share for the current fiscal year.

NatWest Group Company Profile

NatWest Group plc is a major UK-based banking and financial services group headquartered in Edinburgh, Scotland. The company traces its roots to the Royal Bank of Scotland, founded in 1727, and adopted the NatWest Group name in 2020 as part of a strategic refocus on its NatWest brand. NatWest Group is listed on the London Stock Exchange and also has American depositary shares trading on the New York Stock Exchange under the symbol NWG.

The group provides a broad range of banking services across retail, private, commercial, corporate and institutional segments.