NatWest Group (NYSE:NWG) Shares Gap Up – Time to Buy?

NatWest Group plc (NYSE:NWG) shares gapped up prior to trading on Monday . The stock had previously closed at $9.76, but opened at $10.18. NatWest Group shares last traded at $10.16, with a volume of 559,109 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NWG shares. Kepler Capital Markets assumed coverage on shares of NatWest Group in a research report on Thursday, September 5th. They set a “buy” rating on the stock. UBS Group upgraded shares of NatWest Group to a “strong-buy” rating in a report on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on shares of NatWest Group in a research note on Friday, October 4th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group upgraded NatWest Group from an “underperform” rating to a “buy” rating in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NatWest Group currently has an average rating of “Buy”.

NatWest Group Stock Performance

The stock has a fifty day simple moving average of $9.22 and a 200-day simple moving average of $8.64. The company has a quick ratio of 1.08, a current ratio of 1.06 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $41.94 billion, a P/E ratio of 7.73 and a beta of 1.32.

Hedge Funds Weigh In On NatWest Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NWG. Assetmark Inc. boosted its stake in NatWest Group by 81.7% in the third quarter. Assetmark Inc. now owns 112,112 shares of the company’s stock worth $1,049,000 after purchasing an additional 50,419 shares in the last quarter. Seascape Capital Management raised its stake in shares of NatWest Group by 2.9% in the third quarter. Seascape Capital Management now owns 308,702 shares of the company’s stock worth $2,889,000 after acquiring an additional 8,767 shares during the last quarter. Marks Group Wealth Management Inc bought a new stake in shares of NatWest Group during the third quarter valued at approximately $96,000. QRG Capital Management Inc. grew its position in shares of NatWest Group by 78.8% during the 3rd quarter. QRG Capital Management Inc. now owns 329,582 shares of the company’s stock worth $3,085,000 after buying an additional 145,295 shares during the period. Finally, Optas LLC bought a new stake in NatWest Group in the third quarter valued at about $100,000. 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.