Mackenzie Financial Corp Trims Stake in UBS Group AG (NYSE:UBS)

Key Points

• Mackenzie Financial Corp reduced its stake in UBS Group AG by 35.9%, selling 637,642 shares to hold 1,140,405 shares valued at $34.65 million as of the recent quarter.
• Several other hedge funds increased their positions in UBS, with DZ BANK AG raising its stake by 162.6%, acquiring over 17.5 million additional shares.
• Analysts have a consensus rating of "Moderate Buy" on UBS, with recent upgrades from firms like Jefferies and Bank of America indicating positive outlooks on the stock.

Mackenzie Financial Corp trimmed its position in shares of UBS Group AG (NYSE:UBS - Free Report) by 35.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,140,405 shares of the bank's stock after selling 637,642 shares during the period. Mackenzie Financial Corp's holdings in UBS Group were worth $34,652,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its stake in UBS Group by 0.5% during the fourth quarter. Integrated Wealth Concepts LLC now owns 65,889 shares of the bank's stock worth $1,998,000 after buying an additional 320 shares in the last quarter. HighPoint Advisor Group LLC grew its stake in UBS Group by 4.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 7,633 shares of the bank's stock worth $253,000 after buying an additional 349 shares in the last quarter. First National Bank of Hutchinson grew its stake in UBS Group by 3.1% during the first quarter. First National Bank of Hutchinson now owns 12,384 shares of the bank's stock worth $379,000 after buying an additional 367 shares in the last quarter. Keel Point LLC grew its stake in UBS Group by 4.4% during the fourth quarter. Keel Point LLC now owns 9,227 shares of the bank's stock worth $280,000 after buying an additional 389 shares in the last quarter. Finally, Berbice Capital Management LLC grew its stake in UBS Group by 44.4% during the first quarter. Berbice Capital Management LLC now owns 1,300 shares of the bank's stock worth $40,000 after buying an additional 400 shares in the last quarter.

Analyst Upgrades and Downgrades

UBS has been the topic of a number of research analyst reports. Wedbush restated a "neutral" rating on shares of UBS Group in a research note on Tuesday, May 27th. Wall Street Zen upgraded shares of UBS Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. DZ Bank upgraded shares of UBS Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Morgan Stanley lowered shares of UBS Group from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, June 18th. Finally, Keefe, Bruyette & Woods upgraded shares of UBS Group from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, UBS Group has a consensus rating of "Moderate Buy".

UBS Group Stock Performance

Shares of NYSE:UBS traded down $0.66 during midday trading on Friday, reaching $36.67. The company had a trading volume of 3,697,636 shares, compared to its average volume of 3,225,510. The company's 50 day moving average price is $34.05 and its 200 day moving average price is $32.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.72. The stock has a market cap of $117.58 billion, a P/E ratio of 19.40, a P/E/G ratio of 0.68 and a beta of 1.15. UBS Group AG has a 52-week low of $25.75 and a 52-week high of $38.42.

UBS Group (NYSE:UBS - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The bank reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $11.55 billion for the quarter, compared to the consensus estimate of $9.77 billion. UBS Group had a net margin of 9.21% and a return on equity of 7.23%. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, sell-side analysts anticipate that UBS Group AG will post 1.9 EPS for the current fiscal year.

UBS Group Profile

UBS Group AG provides financial advice and solutions to private, institutional, and corporate clients worldwide. It operates through five divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management, Investment Bank, and Non-core and Legacy. The company offers investment advice, estate and wealth planning, investing, corporate and banking, and investment management, as well as mortgage, securities-based, and structured lending solutions.