Assetmark Inc. Acquires 75,116 Shares of Barclays PLC $BCS

Key Points

• Assetmark Inc. increased its stake in Barclays PLC by 55.4% in the first quarter, buying 75,116 additional shares and bringing its total holdings to 210,750 shares worth about $4.46 million.
• Barclays reported quarterly earnings of $0.76 per share, slightly above analyst estimates, though revenue came in well below expectations at $5.07 billion versus $10.88 billion projected.
• Analyst sentiment on Barclays remains constructive, with multiple firms reiterating or upgrading ratings and a consensus “Moderate Buy” rating from MarketBeat.

Assetmark Inc. lifted its holdings in shares of Barclays PLC (NYSE:BCS) by 55.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,750 shares of the financial services provider's stock after purchasing an additional 75,116 shares during the period. Assetmark Inc.'s holdings in Barclays were worth $4,459,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in BCS. Commonwealth Retirement Investments LLC bought a new position in shares of Barclays during the 4th quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Barclays in the 4th quarter valued at about $26,000. SHP Wealth Management bought a new stake in Barclays in the 4th quarter valued at about $28,000. Advocate Investing Services LLC purchased a new stake in Barclays during the fourth quarter valued at about $33,000. Finally, First Pacific Financial boosted its position in Barclays by 3,036.4% during the first quarter. First Pacific Financial now owns 1,725 shares of the financial services provider's stock worth $37,000 after purchasing an additional 1,670 shares during the period. Institutional investors own 3.39% of the company's stock.

Barclays Price Performance

BCS stock opened at $28.16 on Thursday. The firm has a market cap of $95.98 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.47 and a beta of 1.00. The firm's fifty day moving average is $25.86 and its 200 day moving average is $24.67. Barclays PLC has a 52 week low of $18.79 and a 52 week high of $28.43. The company has a debt-to-equity ratio of 5.94, a quick ratio of 1.44 and a current ratio of 1.44.

Barclays (NYSE:BCS - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.01. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $10.88 billion. Barclays had a net margin of 21.10% and a return on equity of 8.12%. Research analysts predict that Barclays PLC will post 2.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BCS shares. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Barclays in a report on Wednesday, April 29th. Weiss Ratings reissued a "buy (b-)" rating on shares of Barclays in a report on Friday, July 17th. Piper Sandler raised Barclays from an "overweight" rating to a "buy" rating in a report on Friday, June 12th. Berenberg Bank assumed coverage on Barclays in a research report on Wednesday, June 24th. They issued a "buy" rating for the company. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Barclays in a research note on Thursday, July 2nd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Barclays Company Profile

Barclays PLC NYSE: BCS is a British multinational bank and financial services company headquartered in London. The firm provides a broad range of banking and financial products to individual, corporate and institutional customers. Its core activities span retail and business banking, credit cards and payments, corporate and investment banking, and wealth and investment management.

In retail and business banking, Barclays offers deposit accounts, mortgages, personal and business loans, and card services.

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