Causeway Capital Management LLC Sells 1,418,525 Shares of Barclays PLC $BCS

Key Points

• Causeway Capital Management LLC has reduced its holdings in Barclays PLC by 23.9%, now owning approximately 4.5 million shares worth about $69.3 million.
• Several other institutional investors have increased their stakes in Barclays, with Freedom Investment Management Inc. growing its holdings by 177.5%.
• Barclays recently reported a quarterly EPS of $0.62, exceeding analysts' expectations, and announced a semi-annual dividend of $0.1557 per share.

Causeway Capital Management LLC decreased its holdings in Barclays PLC (NYSE:BCS - Free Report) by 23.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,511,942 shares of the financial services provider's stock after selling 1,418,525 shares during the period. Barclays makes up about 1.4% of Causeway Capital Management LLC's holdings, making the stock its 16th biggest holding. Causeway Capital Management LLC owned approximately 0.13% of Barclays worth $69,303,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BCS. Financial Management Professionals Inc. purchased a new stake in shares of Barclays in the 1st quarter valued at $29,000. Elequin Capital LP purchased a new stake in shares of Barclays in the 1st quarter valued at $30,000. Wealthquest Corp purchased a new stake in shares of Barclays in the 1st quarter valued at $32,000. Zions Bancorporation National Association UT purchased a new stake in shares of Barclays in the 1st quarter valued at $40,000. Finally, Wayfinding Financial LLC purchased a new stake in shares of Barclays in the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 3.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BCS. Royal Bank Of Canada reissued an "outperform" rating on shares of Barclays in a research report on Wednesday, July 16th. Morgan Stanley reissued an "overweight" rating on shares of Barclays in a research report on Wednesday, July 30th. Citigroup cut shares of Barclays from a "buy" rating to a "neutral" rating in a research report on Friday, July 18th. Finally, Wall Street Zen cut shares of Barclays from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

Barclays Trading Down 0.4%

NYSE BCS traded down $0.08 during trading on Thursday, hitting $20.06. The company had a trading volume of 8,176,336 shares, compared to its average volume of 11,524,984. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 5.70. Barclays PLC has a one year low of $11.22 and a one year high of $20.58. The company has a market cap of $70.81 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 0.48 and a beta of 1.15. The company's fifty day moving average is $19.25 and its 200-day moving average is $17.12.

Barclays (NYSE:BCS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.12. The company had revenue of $9.58 billion during the quarter, compared to analyst estimates of $7.06 billion. Barclays had a net margin of 22.11% and a return on equity of 8.49%. On average, sell-side analysts predict that Barclays PLC will post 2 earnings per share for the current year.

Barclays Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 8th will be paid a $0.1557 dividend. This represents a dividend yield of 210.0%. The ex-dividend date is Friday, August 8th. Barclays's dividend payout ratio (DPR) is presently 14.29%.

Barclays Company Profile

Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International division segments. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services.