NatWest Group plc $NWG Shares Acquired by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its NatWest Group position by 12.4% in the second quarter, acquiring 61,748 additional shares for a total holding of 558,069 shares valued at approximately $9.84 million.
• NatWest reported quarterly EPS of $0.54, beating analyst expectations of $0.45, while revenue reached $5.89 billion. The stock was trading at $18.14, with a market capitalization of about $72.1 billion.
• The company reduced its dividend to $0.3222 per share from $0.6210. Analyst sentiment remains broadly positive, with an overall “Moderate Buy” rating based on one Strong Buy, four Buy, and three Hold recommendations.

QRG Capital Management Inc. increased its position in NatWest Group plc (NYSE:NWG - Free Report) by 12.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 558,069 shares of the company's stock after buying an additional 61,748 shares during the quarter. QRG Capital Management Inc.'s holdings in NatWest Group were worth $9,839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NWG. Bank of America Corp DE increased its stake in NatWest Group by 17.8% during the first quarter. Bank of America Corp DE now owns 6,948,264 shares of the company's stock worth $103,529,000 after acquiring an additional 1,048,804 shares during the last quarter. Natixis Advisors LLC raised its holdings in NatWest Group by 3.8% in the fourth quarter. Natixis Advisors LLC now owns 13,399,866 shares of the company's stock valued at $234,498,000 after buying an additional 494,472 shares during the period. Cibc World Market Inc. raised its holdings in NatWest Group by 20.3% in the fourth quarter. Cibc World Market Inc. now owns 1,726,761 shares of the company's stock valued at $30,218,000 after buying an additional 291,148 shares during the period. Manning & Napier Advisors LLC acquired a new position in NatWest Group during the second quarter valued at approximately $4,239,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in NatWest Group during the first quarter valued at approximately $2,293,000. Institutional investors and hedge funds own 1.27% of the company's stock.

NatWest Group Stock Performance

NYSE:NWG opened at $18.14 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.03 and a quick ratio of 1.04. The firm has a 50-day moving average of $18.61 and a two-hundred day moving average of $16.99. The stock has a market cap of $72.11 billion, a P/E ratio of 9.02, a PEG ratio of 0.87 and a beta of 0.91. NatWest Group plc has a 1-year low of $13.56 and a 1-year high of $19.42.

NatWest Group (NYSE:NWG - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.09. NatWest Group had a return on equity of 14.01% and a net margin of 20.10%.The business had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.90 billion. On average, research analysts expect that NatWest Group plc will post 2 earnings per share for the current fiscal year.

NatWest Group Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, August 14th were given a $0.3222 dividend. This represents a dividend yield of 337.0%. The ex-dividend date of this dividend was Friday, August 14th. This is a negative change from NatWest Group's previous dividend of $0.6210. NatWest Group's dividend payout ratio is currently 31.34%.

Wall Street Analyst Weigh In

NWG has been the subject of several recent research reports. Wall Street Zen lowered shares of NatWest Group from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Berenberg Bank assumed coverage on shares of NatWest Group in a report on Wednesday, June 24th. They set a "buy" rating on the stock. Morgan Stanley raised shares of NatWest Group from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, September 2nd. Weiss Ratings raised NatWest Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 13th. Finally, Keefe, Bruyette & Woods raised NatWest Group from a "hold" rating to a "moderate buy" rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

NatWest Group Company Profile

NatWest Group plc is a United Kingdom-based banking and financial services company. Its principal brands include NatWest, Royal Bank of Scotland and Ulster Bank, and it provides services to personal, business and institutional customers.

The group offers current and savings accounts, mortgages, personal loans, credit cards, insurance and investment-related services. For businesses and institutions, its activities include lending, cash management, payments, asset finance, foreign exchange, risk management and other corporate banking services.

NatWest Group primarily serves customers in the United Kingdom, with selected activities and relationships in international financial markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.