NatWest Group plc $NWG Stock: Provenance Wealth Advisors LLC Boosts Stake

Key Points

• Provenance Wealth Advisors increased its NatWest Group stake by 33,756.3% in the third quarter, ending with 69,744 shares valued at about $1.27 million. Other institutional investors also raised their holdings; institutions and hedge funds own 1.27% of the stock.
• NatWest reported quarterly EPS of $0.52, slightly above the $0.51 consensus, while revenue of $6.08 billion came in below analysts’ $6.18 billion estimate.
• Shares opened at $16.56, within a 52-week range of $13.76–$19.42. Analysts’ overall rating is Moderate Buy, with one Strong Buy, six Buy, and three Hold ratings.

Provenance Wealth Advisors LLC lifted its holdings in NatWest Group plc (NYSE:NWG - Free Report) by 33,756.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 69,744 shares of the company's stock after buying an additional 69,538 shares during the quarter. Provenance Wealth Advisors LLC's holdings in NatWest Group were worth $1,266,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NWG. Vise Technologies Inc. boosted its stake in NatWest Group by 52.3% in the third quarter. Vise Technologies Inc. now owns 139,310 shares of the company's stock valued at $2,528,000 after acquiring an additional 47,833 shares during the period. Summit Global Investments raised its position in shares of NatWest Group by 3.7% during the 3rd quarter. Summit Global Investments now owns 32,369 shares of the company's stock worth $587,000 after purchasing an additional 1,167 shares during the period. Choreo LLC raised its position in shares of NatWest Group by 4.3% during the 3rd quarter. Choreo LLC now owns 51,268 shares of the company's stock worth $931,000 after purchasing an additional 2,106 shares during the period. Park Avenue Securities LLC raised its position in shares of NatWest Group by 0.7% during the 3rd quarter. Park Avenue Securities LLC now owns 88,154 shares of the company's stock worth $1,600,000 after purchasing an additional 589 shares during the period. Finally, Apollon Wealth Management LLC lifted its holdings in shares of NatWest Group by 11.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 15,216 shares of the company's stock worth $276,000 after purchasing an additional 1,615 shares during the last quarter. 1.27% of the stock is owned by institutional investors and hedge funds.

NatWest Group Price Performance

Shares of NYSE:NWG opened at $16.56 on Thursday. The firm's 50 day moving average is $17.79 and its two-hundred day moving average is $17.06. NatWest Group plc has a 52 week low of $13.76 and a 52 week high of $19.42. The firm has a market capitalization of $65.76 billion, a P/E ratio of 8.28, a PEG ratio of 0.70 and a beta of 1.02. The company has a current ratio of 1.03, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13.

NatWest Group (NYSE:NWG - Get Free Report) last released its quarterly earnings results on Friday, October 30th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. NatWest Group had a return on equity of 13.75% and a net margin of 19.61%. The company had revenue of $6.08 billion for the quarter, compared to analysts' expectations of $6.18 billion. Analysts anticipate that NatWest Group plc will post 1.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays upgraded NatWest Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, October 13th. Weiss Ratings lowered NatWest Group from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 23rd. Wall Street Zen cut NatWest Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 9th. Keefe, Bruyette & Woods upgraded NatWest Group from a "hold" rating to a "moderate buy" rating in a research note on Friday, July 17th. Finally, Morgan Stanley raised shares of NatWest Group from an "equal weight" rating to an "overweight" rating in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

About NatWest Group

NatWest Group plc is a United Kingdom-based banking and financial services company. Through brands including NatWest, Royal Bank of Scotland, Ulster Bank and Coutts, it provides current accounts, savings products, mortgages, personal loans, credit cards, insurance and other financial services to individuals and households.

The group also serves small and medium-sized businesses, larger companies and institutional clients. Its commercial and institutional banking activities include lending, transaction banking, cash management, payments, trade finance, capital markets services and risk-management solutions.

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