985,506 Barclays PLC $BCS Shares Sold by Fisher Asset Management LLC

Key Points

• Fisher Asset Management cut its Barclays stake by 1.0% in the third quarter, selling 985,506 shares. It still held 92.9 million shares, equal to 2.78% of Barclays and valued at about $2.26 billion.
• Barclays’ latest quarter fell slightly short of expectations: earnings were $0.66 per share versus a $0.67 consensus, while revenue was $9.85 billion against forecasts of $10.10 billion.
• Analysts’ consensus rating was “Moderate Buy,” with 10 Buy ratings and six Hold ratings and an average price target of $26.00.

Fisher Asset Management LLC reduced its position in shares of Barclays PLC (NYSE:BCS - Free Report) by 1.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 92,918,917 shares of the financial services provider's stock after selling 985,506 shares during the quarter. Fisher Asset Management LLC owned 2.78% of Barclays worth $2,255,142,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BCS. Russell Investments Group Ltd. grew its holdings in shares of Barclays by 44.5% during the third quarter. Russell Investments Group Ltd. now owns 217,515 shares of the financial services provider's stock valued at $5,279,000 after buying an additional 67,016 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of Barclays by 5.1% during the third quarter. Ritholtz Wealth Management now owns 280,214 shares of the financial services provider's stock valued at $6,801,000 after acquiring an additional 13,724 shares in the last quarter. Jacobi Capital Management LLC bought a new stake in shares of Barclays during the third quarter valued at approximately $28,000. First Command Advisory Services Inc. raised its holdings in Barclays by 143.6% in the 3rd quarter. First Command Advisory Services Inc. now owns 23,424 shares of the financial services provider's stock worth $568,000 after acquiring an additional 13,807 shares during the last quarter. Finally, Lido Advisors LLC raised its holdings in Barclays by 13.6% in the 3rd quarter. Lido Advisors LLC now owns 14,433 shares of the financial services provider's stock worth $350,000 after acquiring an additional 1,729 shares during the last quarter. 3.39% of the stock is owned by hedge funds and other institutional investors.

Barclays Stock Performance

Shares of NYSE BCS opened at $22.85 on Friday. The firm's 50-day moving average price is $23.85 and its 200-day moving average price is $24.75. Barclays PLC has a 52-week low of $19.83 and a 52-week high of $28.68. The company has a market cap of $76.40 billion, a PE ratio of 8.33, a PEG ratio of 0.50 and a beta of 1.04. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 5.89.

Barclays (NYSE:BCS - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $9.85 billion for the quarter, compared to analysts' expectations of $10.10 billion. Barclays had a net margin of 22.74% and a return on equity of 9.02%. As a group, analysts anticipate that Barclays PLC will post 2.78 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BCS. Citigroup reaffirmed a "neutral" rating on shares of Barclays in a research report on Thursday, July 16th. Morgan Stanley lowered Barclays from an "overweight" rating to an "equal weight" rating in a report on Wednesday, September 2nd. Royal Bank Of Canada restated a "buy" rating on shares of Barclays in a research note on Thursday, October 22nd. Deutsche Bank reaffirmed a "buy" rating on shares of Barclays in a report on Friday, October 23rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Barclays in a research report on Tuesday, September 1st. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $26.00.

Barclays Company Profile

Barclays is a British banking group that provides financial services to individuals, businesses, corporations and institutions. Its principal activities include retail and business banking, credit cards and payments, corporate banking, investment banking and wealth management. The company serves customers in the United Kingdom and internationally, with a significant presence in the United States. Its businesses include Barclays UK, which focuses on UK consumer and business banking, and Barclays International, which includes its international banking and markets operations.

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