Rathbones Group Plc (LON:RAT – Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as GBX 1,580 and last traded at GBX 1,588, with a volume of 86534 shares changing hands. The stock had previously closed at GBX 1,604.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on RAT. Royal Bank Of Canada cut their target price on Rathbones Group from GBX 2,400 to GBX 1,950 and set an “outperform” rating on the stock in a report on Thursday, June 18th. Jefferies Financial Group restated an “underperform” rating and set a GBX 1,780 price objective on shares of Rathbones Group in a report on Wednesday, June 17th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of GBX 1,982.50.
Get Our Latest Stock Analysis on RAT
Rathbones Group Stock Performance
Rathbones Group declared that its board has authorized a stock repurchase program on Wednesday, June 17th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Insider Activity
In other news, insider Jonathan Sorrell acquired 15,320 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was purchased at an average price of GBX 1,630 per share, for a total transaction of £249,716. Also, insider Iain Cummings purchased 800 shares of the firm’s stock in a transaction that occurred on Friday, June 19th. The shares were acquired at an average cost of GBX 1,622 per share, with a total value of £12,976. Over the last quarter, insiders acquired 33,218 shares of company stock valued at $54,246,282. 1.41% of the stock is currently owned by company insiders.
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.
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