Fisher Asset Management LLC Sells 1,119,769 Shares of UBS Group AG $UBS

Key Points

• Fisher Asset Management sold 1,119,769 UBS shares in the third quarter, cutting its stake by 1.7%; it still held 63.8 million shares, worth about $3.07 billion.
• Institutional investors showed mixed positioning: Assenagon increased its stake by 43.4%, while several other large investors also added shares.
• UBS reported quarterly EPS of $0.85, below the $0.91 consensus, while revenue of $13.39 billion topped estimates and rose 9.7% year over year. Analysts’ average rating was Hold, with a $60.30 average price target.

Fisher Asset Management LLC cut its stake in shares of UBS Group AG (NYSE:UBS - Free Report) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,800,525 shares of the bank's stock after selling 1,119,769 shares during the quarter. Fisher Asset Management LLC owned about 2.04% of UBS Group worth $3,070,719,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in UBS. Assenagon Asset Management S.A. grew its position in UBS Group by 43.4% during the third quarter. Assenagon Asset Management S.A. now owns 23,716,879 shares of the bank's stock worth $1,144,417,000 after buying an additional 7,180,461 shares during the period. Amundi lifted its position in shares of UBS Group by 16.9% during the 1st quarter. Amundi now owns 23,294,847 shares of the bank's stock valued at $910,130,000 after acquiring an additional 3,374,516 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of UBS Group by 7.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,850,928 shares of the bank's stock valued at $728,340,000 after acquiring an additional 1,323,586 shares during the period. Ninety One UK Ltd lifted its position in shares of UBS Group by 4.7% during the 3rd quarter. Ninety One UK Ltd now owns 7,469,509 shares of the bank's stock valued at $360,437,000 after acquiring an additional 336,264 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of UBS Group by 4.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,676,157 shares of the bank's stock worth $322,236,000 after acquiring an additional 270,903 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Zacks Research cut UBS Group from a "strong-buy" rating to a "hold" rating in a report on Monday, November 2nd. Bank of America reaffirmed a "buy" rating on shares of UBS Group in a report on Tuesday, September 1st. Citigroup reiterated a "neutral" rating on shares of UBS Group in a research report on Monday, July 20th. Wall Street Zen lowered UBS Group from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. Finally, Morgan Stanley reissued an "underweight" rating on shares of UBS Group in a report on Wednesday, September 2nd. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $60.30.

Latest UBS Group News

Here's some of the latest news about UBS:

• Neutral Sentiment: UBS AG said it plans to redeem all outstanding securities in ten exchange-traded note series. This is a product-level action, and the announcement did not indicate a material effect on UBS Group’s core business or earnings. UBS Announces Redemption of Ten ETNs
• Neutral Sentiment: Q3 filings showed UBS Group added shares of the ITA and EFV exchange-traded funds. These are reported portfolio holdings, not necessarily a direct investment of UBS’s own capital, so they offer little clear signal about UBS stock. ITA fund update EFV fund update
• Negative Sentiment: A report says CEO Sergio Ermotti’s warning has brought attention to risks from the AI infrastructure buildout. If elevated spending or expectations prove unsustainable, market volatility could weigh on client sentiment and UBS’s wealth-management business; the article details provided do not quantify the potential impact. UBS Group stock faces AI buildout risk after Ermotti warning

UBS Group Price Performance

UBS stock opened at $48.45 on Friday. The company's 50 day simple moving average is $49.22 and its 200-day simple moving average is $47.18. The firm has a market capitalization of $151.36 billion, a PE ratio of 16.30, a P/E/G ratio of 0.73 and a beta of 1.19. UBS Group AG has a 12 month low of $36.29 and a 12 month high of $55.99.

UBS Group (NYSE:UBS - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The bank reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.06). UBS Group had a return on equity of 10.77% and a net margin of 13.36%. The company had revenue of $13.39 billion for the quarter, compared to analyst estimates of $13.07 billion. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The company's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts anticipate that UBS Group AG will post 3.66 earnings per share for the current year.

About UBS Group

UBS Group AG is a Swiss financial services company providing wealth management, banking, asset management and investment banking services to individuals, businesses, institutions and governments. It has a strong presence in Switzerland and serves clients in markets around the world. The company's businesses include Global Wealth Management, Swiss Personal & Corporate Banking, Asset Management and the Investment Bank. Its services include financial planning and investment advice, lending and deposit products, portfolio and fund management, and capital markets and advisory services.

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