Connor Clark & Lunn Investment Management Ltd. Buys 550,764 Shares of NatWest Group plc (NYSE:NWG)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in NatWest Group by 1,102%, acquiring 600,743 shares valued at approximately $7.16 million.
• Citigroup has reaffirmed a "buy" rating for NatWest Group, with a consensus rating of "Moderate Buy" from four analysts, indicating positive market sentiment.
• NatWest Group recently announced a semi-annual dividend of $0.255 per share, resulting in a significant yield of 390.0% for shareholders.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of NatWest Group plc (NYSE:NWG - Free Report) by 1,102.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 600,743 shares of the company's stock after purchasing an additional 550,764 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in NatWest Group were worth $7,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NWG. Natixis Advisors LLC boosted its position in NatWest Group by 11.8% during the 1st quarter. Natixis Advisors LLC now owns 12,429,659 shares of the company's stock worth $148,162,000 after purchasing an additional 1,311,476 shares during the period. Dimensional Fund Advisors LP boosted its position in NatWest Group by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,322,718 shares of the company's stock worth $74,473,000 after purchasing an additional 216,053 shares during the period. Bank of America Corp DE boosted its position in NatWest Group by 25.1% during the 4th quarter. Bank of America Corp DE now owns 4,712,296 shares of the company's stock worth $47,924,000 after purchasing an additional 944,464 shares during the period. Northern Trust Corp boosted its position in NatWest Group by 45.6% during the 4th quarter. Northern Trust Corp now owns 3,243,078 shares of the company's stock worth $32,982,000 after purchasing an additional 1,014,926 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in NatWest Group by 28.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,744,550 shares of the company's stock worth $32,715,000 after buying an additional 611,323 shares in the last quarter. 1.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Citigroup restated a "buy" rating on shares of NatWest Group in a research note on Monday, April 28th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

NatWest Group Stock Performance

NYSE NWG traded down $0.33 on Friday, hitting $14.85. The stock had a trading volume of 3,217,982 shares, compared to its average volume of 4,982,633. NatWest Group plc has a one year low of $8.55 and a one year high of $15.17. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market cap of $60.12 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 0.85 and a beta of 1.07. The company's 50-day moving average is $13.89 and its two-hundred day moving average is $12.83.

NatWest Group (NYSE:NWG - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $4.06 billion. NatWest Group had a net margin of 16.84% and a return on equity of 11.99%. On average, analysts expect that NatWest Group plc will post 1.35 earnings per share for the current year.

NatWest Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 8th will be given a dividend of $0.255 per share. This represents a dividend yield of 390.0%. The ex-dividend date is Friday, August 8th. NatWest Group's payout ratio is 32.26%.

NatWest Group Company Profile

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.