Insider Buying: Rathbones Group (LON:RAT) Insider Acquires 1,282 Shares of Stock

Rathbones Group Plc (LON:RAT) insider Iain Cummings bought 1,282 shares of the stock in a transaction dated Thursday, June 18th. The stock was purchased at an average cost of GBX 1,621 per share, for a total transaction of £20,781.22.

Rathbones Group Stock Performance

LON RAT traded down GBX 6 during trading hours on Thursday, hitting GBX 1,624. 320,099 shares of the stock were exchanged, compared to its average volume of 498,515. 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 company has a market cap of £1.68 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of -26.52 and a beta of 0.71. Rathbones Group Plc has a 12-month low of GBX 1,582 and a 12-month high of GBX 2,500. The stock has a 50-day moving average of GBX 1,977.02 and a 200 day moving average of GBX 2,021.94.

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

Rathbones Group News Roundup

Here are the key news stories impacting Rathbones Group this week:

• Positive Sentiment: Insider buying provided some support, with chair/CEO-related purchases and Terri Duhon buying shares, suggesting management may see value at current levels. Insider Buying: Rathbones Group (LON:RAT) Insider Purchases 500 Shares of Stock
• Positive Sentiment: Rathbones also announced a stock repurchase authorization, which can signal that management believes the shares are undervalued. Rathbones Group stock repurchase plan
• Neutral Sentiment: Royal Bank of Canada cut its price target on Rathbones to GBX 1,950 from GBX 2,400, but kept an “outperform” rating, implying some caution without turning outright bearish. Broker tips: Anglo American, Rathbones
• Negative Sentiment: The FCA review has prompted Rathbones to halt some inflows and suspend certain new client onboarding, raising concerns about lost business and slower growth. Rathbones ‘voluntarily’ halts some inflows as part of FCA review
• Negative Sentiment: Reports of a potentially costly remediation program and a possible financial hit have added to selling pressure, while Jefferies reaffirmed an “underperform” rating. Broker view on Rathbones Group

Analyst Ratings Changes

Several research firms have issued reports on RAT. Royal Bank Of Canada cut their price objective on Rathbones Group from GBX 2,400 to GBX 1,950 and set an “outperform” rating for the company in a research report on Thursday. Jefferies Financial Group reiterated an “underperform” rating and issued a GBX 1,780 price target on shares of Rathbones Group in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of GBX 1,982.50.

Rathbones Group Company Profile

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.