Barclays PLC $BCS Shares Sold by Hedges Asset Management LLC

Key Points

• Hedges Asset Management LLC reduced its stake in Barclays PLC by 18.5% during Q2, selling 27,500 shares and holding a total of 120,800 shares, which comprise 1.8% of their portfolio.
• Analysts have mixed views on Barclays, with recent reports including a downgrade from Citigroup from "buy" to "neutral," while Royal Bank Of Canada maintains an "outperform" rating.
• Barclays recently announced a semi-annual dividend of $0.1557, with a dividend yield of 210.0%, despite operating a low dividend payout ratio of 14.29%.

Hedges Asset Management LLC decreased its stake in shares of Barclays PLC (NYSE:BCS - Free Report) by 18.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 120,800 shares of the financial services provider's stock after selling 27,500 shares during the period. Barclays comprises about 1.8% of Hedges Asset Management LLC's investment portfolio, making the stock its 11th biggest holding. Hedges Asset Management LLC's holdings in Barclays were worth $2,246,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Financial Management Professionals Inc. acquired a new stake in Barclays during the first quarter worth about $29,000. Elequin Capital LP acquired a new stake in Barclays during the first quarter worth about $30,000. Wealthquest Corp acquired a new stake in Barclays during the first quarter worth about $32,000. WPG Advisers LLC acquired a new stake in Barclays during the first quarter worth about $40,000. Finally, Zions Bancorporation National Association UT acquired a new stake in Barclays during the first quarter worth about $40,000. Institutional investors own 3.39% of the company's stock.

Barclays Price Performance

Shares of NYSE BCS traded up $0.26 during mid-day trading on Thursday, reaching $21.03. 10,687,061 shares of the company traded hands, compared to its average volume of 16,318,635. Barclays PLC has a fifty-two week low of $11.48 and a fifty-two week high of $21.13. The company has a debt-to-equity ratio of 5.70, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $74.23 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.43 and a beta of 1.14. The stock has a fifty day simple moving average of $19.81 and a 200-day simple moving average of $17.59.

Barclays (NYSE:BCS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.12. Barclays had a net margin of 22.11% and a return on equity of 8.49%. The business had revenue of $9.58 billion for the quarter, compared to analyst estimates of $7.06 billion. Equities research analysts anticipate that Barclays PLC will post 2 EPS for the current fiscal year.

Barclays Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 8th were paid a dividend of $0.1557 per share. This represents a dividend yield of 210.0%. The ex-dividend date was Friday, August 8th. Barclays's dividend payout ratio (DPR) is currently 14.75%.

Wall Street Analyst Weigh In

BCS has been the topic of several research reports. Royal Bank Of Canada reiterated an "outperform" rating on shares of Barclays in a research note on Wednesday, July 16th. Wall Street Zen lowered shares of Barclays from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Morgan Stanley restated an "overweight" rating on shares of Barclays in a research note on Tuesday, September 2nd. Finally, Citigroup lowered shares of Barclays from a "buy" rating to a "neutral" rating in a research note on Friday, July 18th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Barclays 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.