NatWest Group (NYSE:NWG) Reaches New 12-Month High – Here’s Why

Shares of NatWest Group plc (NYSE:NWG) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $10.35 and last traded at $10.35, with a volume of 613680 shares trading hands. The stock had previously closed at $10.03.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. The Goldman Sachs Group initiated coverage on NatWest Group in a report on Friday, October 4th. They issued a “buy” rating for the company. Kepler Capital Markets started coverage on NatWest Group in a research note on Thursday, September 5th. They issued a “buy” rating for the company. Keefe, Bruyette & Woods raised NatWest Group from a “hold” rating to a “moderate buy” rating in a research note on Monday, November 4th. Finally, Jefferies Financial Group upgraded shares of NatWest Group from an “underperform” rating to a “buy” rating in a report on Tuesday, October 15th. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy”.

NatWest Group Stock Up 3.1 %

The firm has a market cap of $42.94 billion, a P/E ratio of 7.83 and a beta of 1.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.17. The stock’s 50-day simple moving average is $9.64 and its 200 day simple moving average is $8.97.

Institutional Investors Weigh In On NatWest Group

A number of hedge funds have recently added to or reduced their stakes in NWG. Natixis Advisors LLC grew its position in shares of NatWest Group by 10.7% during the 3rd quarter. Natixis Advisors LLC now owns 10,709,944 shares of the company’s stock worth $100,245,000 after buying an additional 1,031,057 shares during the period. Dimensional Fund Advisors LP boosted its stake in NatWest Group by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 7,048,194 shares of the company’s stock worth $56,615,000 after acquiring an additional 205,439 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in NatWest Group by 9.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 2,623,571 shares of the company’s stock worth $21,068,000 after acquiring an additional 224,900 shares in the last quarter. Raymond James & Associates increased its stake in NatWest Group by 6.7% in the third quarter. Raymond James & Associates now owns 2,564,252 shares of the company’s stock valued at $24,001,000 after purchasing an additional 162,068 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of NatWest Group by 57.0% during the third quarter. FMR LLC now owns 1,988,329 shares of the company’s stock valued at $18,611,000 after purchasing an additional 721,578 shares during the period. 1.27% of the stock is currently owned by institutional investors.

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.