Rathbones Group (LON:RAT) Share Price Passes Below 200 Day Moving Average – Here’s Why

Rathbones Group Plc (LON:RAT)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 2,001.39 and traded as low as GBX 1,646. Rathbones Group shares last traded at GBX 1,649.12, with a volume of 3,054,347 shares traded.

Analyst Upgrades and Downgrades

RAT has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their price target on Rathbones Group from GBX 2,400 to GBX 1,950 and set an “outperform” rating for the company in a research note on Thursday, June 18th. Jefferies Financial Group restated an “underperform” rating and set a GBX 1,780 price target on shares of Rathbones Group in a research note on Wednesday, June 17th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Rathbones Group has a consensus rating of “Hold” and a consensus target price of GBX 1,982.50.

Rathbones Group Stock Down 1.3%

The company’s 50 day moving average price is GBX 1,851.11 and its 200 day moving average price is GBX 2,001.39. The company has a quick ratio of 0.14, a current ratio of 190.82 and a debt-to-equity ratio of 14.65. The firm has a market capitalization of £1.67 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of -26.52 and a beta of 0.72.

Rathbones Group declared that its Board of Directors has initiated a share buyback program on Wednesday, June 17th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Rathbones Group

In other news, insider Jonathan Sorrell  acquired 15,320 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were acquired at an average cost of GBX 1,630 per share, with a total value of £249,716. Also, insider Clive Bannister acquired 15,300 shares of Rathbones Group stock in a transaction dated Tuesday, June 16th. The stock was purchased at an average price of GBX 1,638 per share, with a total value of £250,614. In the last quarter, insiders purchased 33,218 shares of company stock worth $54,246,282. 1.65% of the stock is owned by insiders.

About Rathbones Group

With roots dating back to 1742, Rathbones is one of the UK’s leading providers of investment and wealth management services for private clients (individuals and families), charities, trustees and professional partners. Rathbones’ purpose is to help more people invest their money well, so they can live well.

Rathbones has been trusted for generations to manage, preserve and grow clients’ wealth and services include discretionary investment management, fund management, tax planning, trust and company management, financial advice and banking services.