Lincoln National Corp decreased its stake in National Grid plc, potentially impacting the stock price negatively.
Stock AI’s forecasts:
🔴 -3.1% short-term ⬇️
🔴 -1.0% long-term ⬇️
Stock AI’s (NGG) Forecast get (+7.3% Profit)
StockAI’s analysis delivers real-world results. On 13 February 2024, $NGG ($63.44), StockAI predicted a long-term 🟢 buy signal. It was accurate: 1 month later price increased to $68.1 (🟢7.3%). Buying NGG on this signal yielded a +7.3% profit 💰💰.
NGG-National Grid plc News
🔴 Lincoln National Corp cut its stake in National Grid plc by 26.2% in the 4th quarter.
🟢 Lindbrook Capital LLC lifted its stake in National Grid plc by 38.1% during the fourth quarter.
🔴 National Bank of Canada FI cut its position in National Grid plc by 2.1% in the fourth quarter.
🔴 Simplicity Solutions LLC increased its holdings in National Grid plc by 16.4% in the fourth quarter.
🔴 Bailard Inc. decreased its stake in National Grid plc by 5.6% in the fourth quarter.
🔴 Russell Investments Group Ltd. decreased its holdings in shares of National Grid plc by 7.1% during the 4th quarter.
The recent news surrounding National Grid plc has been a mix of positive and negative developments. While Lindbrook Capital LLC increased its stake in the company, other institutional investors like Lincoln National Corp and National Bank of Canada FI reduced their positions. This mixed sentiment has created uncertainty in the market, leading to a short-term forecast of -3.1% and a long-term forecast of -1.0%.
The decrease in stakes by Lincoln National Corp and National Bank of Canada FI may have contributed to the negative short-term forecast, as it signals a lack of confidence in the stock. On the other hand, the increase in stake by Lindbrook Capital LLC could provide some support to the stock price in the long term.
Overall, the news of institutional investors adjusting their positions in National Grid plc has had a varied impact on the stock price. Investors will need to closely monitor any further developments to assess the future direction of the stock.
NGG-National Grid plc Analyst Ratings
📉 Credit Suisse analysts downgraded their rating on National Grid plc (NYSE:NGG) stock from Outperform to Neutral and lowered the target price from $75 to $70.
📈 Barclays analysts upgraded their rating on National Grid plc (NYSE:NGG) stock from Equal Weight to Overweight and raised the target price from $68 to $72.
📈 Goldman Sachs analysts raised their rating on National Grid plc (NYSE:NGG) stock from Sell to Neutral and increased the target price from $60 to $65.
Sources:
1. Credit Suisse Downgrades National Grid plc (NYSE:NGG) to Neutral
2. Barclays Upgrades National Grid plc (NYSE:NGG) to Overweight
3. Goldman Sachs Upgrades National Grid plc (NYSE:NGG) to Neutral
Disclaimer
Investors may consider the AI predictions and news summaries as one factor in their investment decisions alongside their own research and risk tolerance.
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