Assenagon Asset Management S.A. Sells 8,795 Shares of UBS Group AG (NYSE:UBS)

Assenagon Asset Management S.A. cut its stake in UBS Group AG (NYSE:UBS) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 201,064 shares of the bank’s stock after selling 8,795 shares during the quarter. Assenagon Asset Management S.A.’s holdings in UBS Group were worth $6,152,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in UBS Group by 6.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,349,524 shares of the bank’s stock worth $1,771,713,000 after acquiring an additional 3,289,387 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of UBS Group by 11,313.2% in the 2nd quarter. Legal & General Group Plc now owns 41,389,783 shares of the bank’s stock worth $1,218,317,000 after purchasing an additional 41,027,134 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of UBS Group by 2.8% in the third quarter. Pzena Investment Management LLC now owns 30,802,466 shares of the bank’s stock worth $952,104,000 after purchasing an additional 851,231 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of UBS Group by 20.2% during the third quarter. Wellington Management Group LLP now owns 13,708,623 shares of the bank’s stock valued at $423,504,000 after purchasing an additional 2,307,033 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in shares of UBS Group by 0.6% during the third quarter. Royal London Asset Management Ltd. now owns 7,149,149 shares of the bank’s stock valued at $220,980,000 after buying an additional 43,881 shares during the last quarter.

Wall Street Analysts Forecast Growth

UBS has been the subject of a number of recent analyst reports. BNP Paribas raised UBS Group from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. StockNews.com raised shares of UBS Group from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Kepler Capital Markets upgraded shares of UBS Group from a “hold” rating to a “buy” rating in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, UBS Group currently has a consensus rating of “Moderate Buy”.

UBS Group Trading Up 2.7 %

Shares of NYSE:UBS opened at $34.05 on Monday. The stock’s 50-day simple moving average is $31.69 and its two-hundred day simple moving average is $31.00. The stock has a market capitalization of $109.17 billion, a price-to-earnings ratio of 28.37 and a beta of 1.15. UBS Group AG has a 52-week low of $26.00 and a 52-week high of $34.11. The company has a debt-to-equity ratio of 3.87, a quick ratio of 1.05 and a current ratio of 1.05.

UBS Group (NYSE:UBS) last announced its earnings results on Wednesday, October 30th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.15. UBS Group had a net margin of 5.13% and a return on equity of 4.69%. The company had revenue of $19.31 billion during the quarter, compared to analyst estimates of $11.20 billion. During the same period in the previous year, the business posted ($0.24) earnings per share. Analysts expect that UBS Group AG will post 1.53 EPS for the current year.

About UBS Group

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.