Legal & General Group Plc Sells 2,380,200 Shares of UBS Group AG $UBS

Legal & General Group Plc reduced its stake in UBS Group AG (NYSE:UBS) by 8.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 24,789,498 shares of the bank’s stock after selling 2,380,200 shares during the period. Legal & General Group Plc’s holdings in UBS Group were worth $836,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of UBS. Maseco LLP purchased a new position in shares of UBS Group during the 2nd quarter worth approximately $28,000. Quarry LP purchased a new position in shares of UBS Group in the 1st quarter valued at approximately $37,000. Westside Investment Management Inc. boosted its position in shares of UBS Group by 535.2% during the second quarter. Westside Investment Management Inc. now owns 1,137 shares of the bank’s stock valued at $38,000 after purchasing an additional 958 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in UBS Group by 62.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,497 shares of the bank’s stock worth $46,000 after purchasing an additional 573 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in UBS Group in the second quarter worth $65,000.

Analysts Set New Price Targets

Several brokerages have commented on UBS. BNP Paribas lowered UBS Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Morgan Stanley reissued an “underweight” rating on shares of UBS Group in a research report on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of UBS Group in a report on Wednesday, October 8th. Zacks Research lowered shares of UBS Group from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Finally, Citigroup reissued a “neutral” rating on shares of UBS Group in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

UBS Group Trading Down 3.6%

NYSE:UBS opened at $36.82 on Friday. The company has a 50 day simple moving average of $39.58 and a two-hundred day simple moving average of $36.94. The company has a market cap of $118.06 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 0.66 and a beta of 1.20. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 3.77. UBS Group AG has a 12 month low of $25.75 and a 12 month high of $42.56.

UBS Group (NYSE:UBS) last issued its quarterly earnings data on Wednesday, October 29th. The bank reported $0.76 EPS for the quarter, topping the consensus estimate of $0.48 by $0.28. The company had revenue of $12.20 billion during the quarter, compared to analyst estimates of $9.68 billion. UBS Group had a return on equity of 8.37% and a net margin of 11.02%.UBS Group’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. Research analysts forecast that UBS Group AG will post 1.9 earnings per share for the current year.

UBS Group Company Profile

UBS Group AG provides financial advice and solutions to private, institutional, and corporate clients worldwide. It operates through five divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management, Investment Bank, and Non-core and Legacy. The company offers investment advice, estate and wealth planning, investing, corporate and banking, and investment management, as well as mortgage, securities-based, and structured lending solutions.