Assenagon Asset Management S.A. Raises Stock Position in UBS Group AG $UBS

Key Points

• Assenagon Asset Management increased its UBS Group stake by 6,277.5% in the second quarter, purchasing 16.28 million additional shares for a total holding valued at approximately $821.2 million.
• UBS shares opened at $52.81, near their 52-week high, while analysts’ consensus rating remained “Hold” with an average price target of $60.30.
• UBS reported quarterly EPS of $0.87, missing the $0.90 consensus estimate, although revenue rose 13.2% year over year to $13.35 billion.

Assenagon Asset Management S.A. grew its stake in shares of UBS Group AG (NYSE:UBS - Free Report) by 6,277.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,536,418 shares of the bank's stock after acquiring an additional 16,277,125 shares during the period. UBS Group comprises approximately 1.0% of Assenagon Asset Management S.A.'s investment portfolio, making the stock its 13th biggest holding. Assenagon Asset Management S.A. owned approximately 0.53% of UBS Group worth $821,228,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new position in UBS Group in the first quarter worth approximately $25,000. MidFirst Bank bought a new stake in UBS Group during the 4th quarter valued at $30,000. Robinswood Financial LLC purchased a new stake in shares of UBS Group in the 1st quarter worth $31,000. Navalign LLC purchased a new position in shares of UBS Group during the fourth quarter valued at $32,000. Finally, Larson Financial Group LLC increased its position in UBS Group by 118.4% during the 3rd quarter. Larson Financial Group LLC now owns 821 shares of the bank's stock valued at $34,000 after purchasing an additional 445 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on UBS shares. Wall Street Zen lowered UBS Group from a "buy" rating to a "hold" rating in a research report on Sunday, July 26th. Citigroup reaffirmed a "neutral" rating on shares of UBS Group in a research report on Monday, July 20th. Royal Bank Of Canada reiterated an "outperform" rating on shares of UBS Group in a research note on Wednesday. Morgan Stanley restated an "underweight" rating on shares of UBS Group in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of UBS Group in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $60.30.

UBS Group Stock Down 1.4%

UBS stock opened at $52.81 on Friday. UBS Group AG has a one year low of $36.29 and a one year high of $55.15. The company has a debt-to-equity ratio of 3.84, a quick ratio of 1.19 and a current ratio of 1.02. The firm's fifty day moving average is $50.75 and its 200 day moving average is $45.52. The firm has a market cap of $164.98 billion, a PE ratio of 17.96, a P/E/G ratio of 0.81 and a beta of 1.18.

UBS Group (NYSE:UBS - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The bank reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.03). UBS Group had a return on equity of 10.50% and a net margin of 13.10%.The business had revenue of $13.35 billion during the quarter, compared to analyst estimates of $13.40 billion. During the same period in the previous year, the company posted $0.72 EPS. The business's revenue for the quarter was up 13.2% compared to the same quarter last year. On average, research analysts forecast that UBS Group AG will post 3.58 EPS for the current year.

UBS Group Profile

UBS Group AG is a Swiss multinational financial services firm that provides a broad range of banking and capital markets services to private, institutional and corporate clients. Headquartered in Zurich, UBS operates as a universal bank with a primary focus on wealth management, asset management, investment banking and retail and commercial banking in Switzerland. The firm serves high-net-worth and ultra-high-net-worth individuals, pension funds, corporations and institutional investors through a global network of offices.

Key business activities include global wealth management—offering financial planning, investment advisory, discretionary portfolio management and custody services—alongside asset management products for institutional and retail investors.

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