UBS Group AG (UBS) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of UBS Group AG (NYSE:UBS) from a hold rating to a buy rating in a report issued on Friday morning. They currently have $18.00 price objective on the bank’s stock.
According to Zacks, “UBS Group AG’s shares have underperformed the industry in the last six months. UBS Group remains focused on building capital levels, global expansion and executing restructuring initiatives. Moreover, management anticipates achieving CHF 2.1 billion in net cost reductions by the end of 2017. Though, UBS Group AG’s profitability continues to be challenged by negative interest rates in the domestic economy and strict regulatory framework, its strong capital position remains a tailwind.”
UBS has been the topic of a number of other research reports. BidaskClub upgraded UBS Group AG from a sell rating to a hold rating in a report on Thursday, June 29th. J P Morgan Chase & Co upgraded UBS Group AG from a neutral rating to an overweight rating in a report on Monday, June 26th. Morgan Stanley reiterated a buy rating on shares of UBS Group AG in a report on Tuesday, July 18th. Finally, BNP Paribas began coverage on UBS Group AG in a report on Thursday, August 31st. They issued an outperform rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $16.14.
Shares of UBS Group AG (UBS) opened at 16.42 on Friday. The stock has a market cap of $61.03 billion, a price-to-earnings ratio of 15.40 and a beta of 1.25. The stock’s 50 day moving average price is $17.24 and its 200-day moving average price is $16.47. UBS Group AG has a 52 week low of $12.86 and a 52 week high of $18.31.
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A number of large investors have recently added to or reduced their stakes in UBS. Franklin Resources Inc. grew its stake in UBS Group AG by 21.2% during the 2nd quarter. Franklin Resources Inc. now owns 57,935,725 shares of the bank’s stock worth $981,476,000 after buying an additional 10,125,809 shares during the last quarter. Wellington Management Group LLP grew its stake in UBS Group AG by 21.5% during the 1st quarter. Wellington Management Group LLP now owns 39,721,107 shares of the bank’s stock worth $635,464,000 after buying an additional 7,031,841 shares during the last quarter. Credit Agricole S A grew its stake in UBS Group AG by 65.4% during the 1st quarter. Credit Agricole S A now owns 14,932,920 shares of the bank’s stock worth $238,181,000 after buying an additional 5,904,131 shares during the last quarter. Vanguard Group Inc. grew its stake in UBS Group AG by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 86,199,587 shares of the bank’s stock worth $1,463,669,000 after buying an additional 4,634,833 shares during the last quarter. Finally, AXA grew its stake in UBS Group AG by 94.1% during the 2nd quarter. AXA now owns 6,299,667 shares of the bank’s stock worth $106,968,000 after buying an additional 3,054,657 shares during the last quarter. Hedge funds and other institutional investors own 31.43% of the company’s stock.
About UBS Group 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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