NatWest Group (NYSE:NWG) Shares Gap Down – Here’s Why

Shares of NatWest Group plc (NYSE:NWG) gapped down prior to trading on Tuesday . The stock had previously closed at $10.37, but opened at $10.11. NatWest Group shares last traded at $10.00, with a volume of 281,606 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. The Goldman Sachs Group started coverage on NatWest Group in a research report on Friday, October 4th. They set a “buy” rating for the company. Keefe, Bruyette & Woods upgraded NatWest Group from a “hold” rating to a “moderate buy” rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group upgraded NatWest Group from an “underperform” rating to a “buy” rating in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, NatWest Group has an average rating of “Buy”.

NatWest Group Price Performance

The company has a market capitalization of $39.61 billion, a price-to-earnings ratio of 7.46 and a beta of 1.31. The company has a fifty day simple moving average of $10.17 and a two-hundred day simple moving average of $9.38. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.06 and a current ratio of 1.06.

Hedge Funds Weigh In On NatWest Group

Institutional investors have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC grew its holdings in NatWest Group by 285.3% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 2,813 shares of the company’s stock valued at $26,000 after buying an additional 2,083 shares during the period. Private Trust Co. NA grew its holdings in NatWest Group by 121.3% in the third quarter. Private Trust Co. NA now owns 2,735 shares of the company’s stock valued at $26,000 after purchasing an additional 1,499 shares during the period. EverSource Wealth Advisors LLC increased its position in NatWest Group by 45.7% during the second quarter. EverSource Wealth Advisors LLC now owns 4,013 shares of the company’s stock worth $32,000 after purchasing an additional 1,259 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in NatWest Group by 134.5% during the third quarter. Hexagon Capital Partners LLC now owns 3,452 shares of the company’s stock worth $32,000 after purchasing an additional 1,980 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of NatWest Group in the 3rd quarter valued at $33,000. 1.27% of the stock is currently owned by institutional investors and hedge funds.

About NatWest Group

NatWest Group plc, together with its subsidiaries, provides banking and financial products and services to personal, commercial, corporate, and institutional customers in the United Kingdom and internationally. It operates through Retail Banking, Private Banking, and Commercial & Institutional segments.