Renaissance Technologies LLC Acquires New Holdings in NatWest Group plc $NWG

Key Points

• Renaissance Technologies acquired 121,300 NatWest Group shares worth approximately $1.8 million during the first quarter. Several other institutional investors also increased their holdings, though institutions and hedge funds own just 1.27% of the stock.
• Analyst sentiment remains positive overall, with NatWest rated a consensus “Moderate Buy”; ratings include one Strong Buy, three Buys and three Holds.
• NatWest reported quarterly earnings of $0.54 per share, exceeding estimates of $0.45, while shares opened at $19.05 near their 52-week high. The bank also declared a $0.3222-per-share dividend, payable September 18 to shareholders of record August 14.

Renaissance Technologies LLC bought a new position in shares of NatWest Group plc (NYSE:NWG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 121,300 shares of the company's stock, valued at approximately $1,807,000.

Several other institutional investors also recently modified their holdings of the stock. Sei Investments Co. increased its position in NatWest Group by 28.9% in the 1st quarter. Sei Investments Co. now owns 566,648 shares of the company's stock valued at $8,443,000 after acquiring an additional 126,996 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of NatWest Group by 105.3% during the second quarter. Sivia Capital Partners LLC now owns 39,803 shares of the company's stock worth $563,000 after purchasing an additional 20,412 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of NatWest Group by 7.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,216,652 shares of the company's stock worth $38,791,000 after purchasing an additional 153,625 shares during the period. NewEdge Wealth LLC grew its stake in shares of NatWest Group by 20.2% in the first quarter. NewEdge Wealth LLC now owns 388,763 shares of the company's stock worth $5,793,000 after purchasing an additional 65,355 shares during the last quarter. Finally, Prosperity Consulting Group LLC acquired a new stake in NatWest Group in the first quarter valued at $1,043,000. 1.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NWG has been the subject of several analyst reports. Wall Street Zen lowered NatWest Group from a "buy" rating to a "hold" rating in a research report on Sunday. Weiss Ratings reissued a "buy (b-)" rating on shares of NatWest Group in a research note on Friday, July 31st. Keefe, Bruyette & Woods upgraded NatWest Group from a "hold" rating to a "moderate buy" rating in a research report on Friday, July 17th. Berenberg Bank started coverage on NatWest Group in a report on Wednesday, June 24th. They issued a "buy" rating on the stock. Finally, BNP Paribas Exane upgraded shares of NatWest Group from a "hold" rating to a "strong-buy" rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

NatWest Group Stock Performance

Shares of NWG opened at $19.05 on Wednesday. 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 stock has a 50-day moving average of $17.60 and a 200-day moving average of $16.65. The company has a market cap of $75.90 billion, a PE ratio of 9.48, a P/E/G ratio of 0.97 and a beta of 0.92. NatWest Group plc has a one year low of $13.56 and a one year high of $19.42.

NatWest Group (NYSE:NWG - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.09. The business had revenue of $5.89 billion for the quarter, compared to the consensus estimate of $5.90 billion. NatWest Group had a return on equity of 14.01% and a net margin of 20.10%. On average, equities research analysts predict that NatWest Group plc will post 1.97 EPS for the current fiscal year.

NatWest Group Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 14th will be given a dividend of $0.3222 per share. This represents a dividend yield of 340.0%. The ex-dividend date of this dividend is Friday, August 14th. NatWest Group's dividend payout ratio is presently 30.85%.

NatWest Group 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.

Want to see what other hedge funds are holding NWG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NatWest Group plc (NYSE:NWG - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source