UBS Group AG $UBS Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lowered its stake in shares of UBS Group AG (NYSE:UBS) by 35.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,243 shares of the bank’s stock after selling 5,011 shares during the quarter. DAVENPORT & Co LLC’s holdings in UBS Group were worth $313,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of UBS. Goldman Sachs Group Inc. grew its position in shares of UBS Group by 88.5% during the first quarter. Goldman Sachs Group Inc. now owns 37,654,399 shares of the bank’s stock worth $1,153,354,000 after acquiring an additional 17,676,829 shares during the last quarter. Nuveen LLC purchased a new stake in shares of UBS Group during the 1st quarter worth $348,161,000. Banque Cantonale Vaudoise purchased a new stake in shares of UBS Group during the 1st quarter worth $206,885,000. Deutsche Bank AG boosted its position in shares of UBS Group by 16.1% during the 1st quarter. Deutsche Bank AG now owns 31,350,911 shares of the bank’s stock worth $960,278,000 after purchasing an additional 4,337,005 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of UBS Group by 8.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,586,232 shares of the bank’s stock worth $1,688,163,000 after purchasing an additional 4,207,140 shares in the last quarter.

Wall Street Analysts Forecast Growth

UBS has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of UBS Group in a research report on Thursday, August 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of UBS Group in a research note on Wednesday, October 8th. Morgan Stanley reiterated an “underweight” rating on shares of UBS Group in a research report on Monday, October 6th. Bank of America upgraded shares of UBS Group from an “underperform” rating to a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Zacks Research upgraded shares of UBS Group to a “strong-buy” rating in a research report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, UBS Group presently has an average rating of “Moderate Buy”.

UBS Group Price Performance

UBS Group stock opened at $39.72 on Monday. The firm’s 50-day simple moving average is $40.30 and its 200 day simple moving average is $35.04. UBS Group AG has a 52 week low of $25.75 and a 52 week high of $42.56. The firm has a market capitalization of $127.37 billion, a PE ratio of 21.02, a P/E/G ratio of 0.64 and a beta of 1.18. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 3.77.

UBS Group (NYSE:UBS) last announced its earnings results on Wednesday, July 30th. The bank reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. UBS Group had a net margin of 9.21% and a return on equity of 7.17%. The firm had revenue of $11.55 billion during the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter in the previous year, the company posted $0.34 EPS. On average, equities research analysts predict that UBS Group AG will post 1.9 EPS for the current fiscal 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.