Zacks Investment Research cut shares of UBS AG (NYSE:UBS) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.
According to Zacks, “Shares of UBS Group AG have underperformed the industry on NYSE in the last six months. The company’s profitability continues to be challenged by negative interest rates in the domestic economy and strict regulatory framework. However, UBS Group remains focused on building capital levels, global expansion and executing restructuring initiatives. Moreover, management anticipates to achieve CHF 2.1 billion in net cost reductions by the end of 2017. Further, the company’s strong capital position remains a tailwind.”
Several other equities research analysts have also recently commented on the stock. ValuEngine cut shares of UBS AG from a strong-buy rating to a buy rating in a research report on Friday, September 1st. BNP Paribas began coverage on shares of UBS AG in a research report on Thursday, August 31st. They set an outperform rating on the stock. BidaskClub cut shares of UBS AG from a sell rating to a strong sell rating in a research report on Thursday, August 24th. Morgan Stanley reissued a buy rating on shares of UBS AG in a research report on Tuesday, July 18th. Finally, J P Morgan Chase & Co raised shares of UBS AG from a neutral rating to an overweight rating in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $16.14.
UBS AG (UBS) opened at 16.70 on Thursday. The firm’s 50-day moving average is $16.87 and its 200 day moving average is $16.52. The firm has a market capitalization of $62.07 billion, a P/E ratio of 15.51 and a beta of 1.25. UBS AG has a 52-week low of $12.86 and a 52-week high of $18.31.
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Institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new position in shares of UBS AG during the 1st quarter worth about $490,000. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of UBS AG by 0.4% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 833,317 shares of the bank’s stock worth $13,360,000 after purchasing an additional 3,318 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of UBS AG during the 2nd quarter worth about $292,000. Trexquant Investment LP increased its stake in shares of UBS AG by 73.7% during the 1st quarter. Trexquant Investment LP now owns 58,884 shares of the bank’s stock worth $939,000 after purchasing an additional 24,984 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of UBS AG by 78.8% during the 1st quarter. Morgan Stanley now owns 2,888,708 shares of the bank’s stock worth $46,076,000 after purchasing an additional 1,272,696 shares during the last quarter. Institutional investors own 31.43% of the company’s stock.
About UBS AG
UBS Group AG is a holding company and conducts its operations through UBS AG and its subsidiaries. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. Wealth Management division provides advice and tailored financial services to wealthy private clients around the world, except those served by Wealth Management Americas.
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