Rathbones Group Plc (LON:RAT – Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as GBX 1,594 and last traded at GBX 1,616.99, with a volume of 1594016 shares trading hands. The stock had previously closed at GBX 1,952.
Key Headlines Impacting Rathbones Group
Here are the key news stories impacting Rathbones Group this week:
- Negative Sentiment: Rathbones has reportedly suspended or restricted onboarding and investment activity for some high-risk clients while it addresses issues identified in the FCA review, raising concerns about near-term revenue and growth. Rathbones shares slide on outcome of FCA engagement, review
- Negative Sentiment: Several headlines point to a potentially costly remedial program, with estimates suggesting a meaningful financial hit and possible disruption to assets and client flows. Rathbones ‘voluntarily’ halts some inflows as part of FCA review
- Negative Sentiment: Analyst commentary remained cautious, with Jefferies reaffirming an “underperform” rating and a GBX 1,780 target, reinforcing bearish sentiment around the stock. Broker view on Rathbones Group
- Positive Sentiment: Recent insider buying by senior executives, including chair Clive Bannister and CEO Jonathan Sorrell, may help signal internal confidence in the business despite the regulatory overhang. Rathbones chair and CEO increase holdings
Wall Street Analyst Weigh In
Separately, Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,780 price objective on shares of Rathbones Group in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of GBX 2,007.50.
Rathbones Group Stock Down 0.9%
The firm has a market cap of £1.67 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of -26.52 and a beta of 0.71. 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 stock’s 50 day moving average is GBX 1,977.02 and its 200 day moving average is GBX 2,021.94.
Rathbones Group announced that its Board of Directors has authorized a share buyback program on Wednesday, June 17th that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Insider Buying and Selling
In other Rathbones Group news, insider Clive Bannister bought 15,300 shares of Rathbones Group stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average cost of GBX 1,638 per share, for a total transaction of £250,614. Also, insider Terri Duhon bought 500 shares of Rathbones Group stock in a transaction that occurred on Wednesday, June 17th. The shares were acquired at an average price of GBX 1,614 per share, with a total value of £8,070. Over the last ninety days, insiders acquired 31,136 shares of company stock worth $50,870,560. Corporate insiders own 1.41% of the company’s stock.
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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