Contravisory Investment Management Inc. Sells 26,871 Shares of UBS Group AG $UBS

Key Points

• Contravisory Investment Management reduced its UBS Group position by 9.7%, selling 26,871 shares and retaining 249,751 shares valued at approximately $12.0 million.
• Institutional sentiment was mixed but generally positive, with several major investors—including Amundi and Assenagon Asset Management—raising their UBS holdings. Analysts’ consensus rating remains Hold, with an average price target of $60.30.
• UBS shares recently traded at $47.90, while the bank’s latest quarterly results missed analyst estimates slightly: EPS was $0.87 versus $0.90 expected, though revenue rose 13.2% year over year to $13.35 billion.

Contravisory Investment Management Inc. lowered its position in UBS Group AG (NYSE:UBS - Free Report) by 9.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 249,751 shares of the bank's stock after selling 26,871 shares during the period. UBS Group accounts for approximately 1.5% of Contravisory Investment Management Inc.'s portfolio, making the stock its 12th biggest holding. Contravisory Investment Management Inc.'s holdings in UBS Group were worth $12,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amundi increased its stake in shares of UBS Group by 16.9% in the 1st quarter. Amundi now owns 23,294,847 shares of the bank's stock worth $910,130,000 after acquiring an additional 3,374,516 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in UBS Group by 6,277.5% during the second quarter. Assenagon Asset Management S.A. now owns 16,536,418 shares of the bank's stock worth $821,228,000 after purchasing an additional 16,277,125 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in UBS Group by 7.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,850,928 shares of the bank's stock worth $728,340,000 after purchasing an additional 1,323,586 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of UBS Group by 1.6% in the 4th quarter. Russell Investments Group Ltd. now owns 8,414,416 shares of the bank's stock valued at $392,510,000 after purchasing an additional 131,508 shares in the last quarter. Finally, Banque Cantonale Vaudoise lifted its stake in UBS Group by 6.0% during the first quarter. Banque Cantonale Vaudoise now owns 7,141,370 shares of the bank's stock worth $273,109,000 after purchasing an additional 402,440 shares during the last quarter.

Wall Street Analyst Weigh In

UBS has been the subject of a number of research reports. JPMorgan Chase & Co. reiterated a "buy" rating on shares of UBS Group in a research note on Wednesday, September 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of UBS Group in a research report on Friday, July 31st. Bank of America restated a "buy" rating on shares of UBS Group in a research note on Tuesday, September 1st. Morgan Stanley reaffirmed an "underweight" rating on shares of UBS Group in a report on Wednesday, September 2nd. Finally, DZ Bank reissued a "buy" rating on shares of UBS Group in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $60.30.

UBS Group Stock Up 0.2%

Shares of UBS traded up $0.07 on Tuesday, hitting $47.90. 1,589,538 shares of the stock traded hands, compared to its average volume of 2,282,476. UBS Group AG has a 1 year low of $36.29 and a 1 year high of $55.99. The stock's 50 day moving average is $51.90 and its two-hundred day moving average is $48.77. The firm has a market capitalization of $149.62 billion, a P/E ratio of 16.29, a P/E/G ratio of 0.72 and a beta of 1.21.

UBS Group (NYSE:UBS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The bank reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.03). The business had revenue of $13.35 billion during the quarter, compared to analysts' expectations of $13.40 billion. UBS Group had a net margin of 13.10% and a return on equity of 10.50%. UBS Group's revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. Research analysts forecast that UBS Group AG will post 3.59 EPS for the current year.

About UBS Group

UBS Group AG NYSE: UBS is a Switzerland-based global financial services company serving private, institutional and corporate clients. Its principal businesses include wealth management, asset management, investment banking, and personal and corporate banking in Switzerland.

Through its wealth management business, UBS provides investment advice, portfolio management, lending, estate planning and other financial solutions to high-net-worth and ultra-high-net-worth individuals and families.

Want to see what other hedge funds are holding UBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UBS Group AG (NYSE:UBS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.