Main Street Research LLC Sells 831,866 Shares of Barclays PLC $BCS

Key Points

• Main Street Research LLC cut its Barclays stake by 49.4% in the first quarter, selling 831,866 shares and ending with 850,971 shares worth about $18.0 million.
• Other institutional investors were mixed on Barclays, with some adding positions while others trimmed, and institutions and hedge funds now own 3.39% of the stock.
• Barclays reported quarterly EPS of $0.76, slightly ahead of estimates, while analysts currently rate the stock a Moderate Buy overall; the shares were trading around $27.23, up 1.7%.

Main Street Research LLC decreased its holdings in shares of Barclays PLC (NYSE:BCS - Free Report) by 49.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 850,971 shares of the financial services provider's stock after selling 831,866 shares during the quarter. Main Street Research LLC's holdings in Barclays were worth $18,007,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BCS. Personal CFO Solutions LLC boosted its stake in Barclays by 7.5% in the first quarter. Personal CFO Solutions LLC now owns 31,328 shares of the financial services provider's stock valued at $663,000 after acquiring an additional 2,175 shares during the last quarter. Collaborative Fund Advisors LLC bought a new stake in shares of Barclays during the 1st quarter valued at $382,000. Marietta Investment Partners LLC lifted its stake in shares of Barclays by 12.2% in the 1st quarter. Marietta Investment Partners LLC now owns 101,840 shares of the financial services provider's stock valued at $2,155,000 after purchasing an additional 11,050 shares during the period. Hardy Reed LLC boosted its position in shares of Barclays by 5.8% in the 1st quarter. Hardy Reed LLC now owns 16,399 shares of the financial services provider's stock worth $347,000 after purchasing an additional 900 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Barclays by 9.0% in the 1st quarter. QRG Capital Management Inc. now owns 422,472 shares of the financial services provider's stock worth $8,940,000 after purchasing an additional 34,860 shares during the last quarter. 3.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on BCS. Zacks Research downgraded Barclays from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 19th. Weiss Ratings cut Barclays from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, April 21st. Piper Sandler raised Barclays from an "overweight" rating to a "buy" rating in a research note on Friday, June 12th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Barclays in a research report on Wednesday, April 29th. Finally, BNP Paribas Exane lowered shares of Barclays from an "outperform" rating to a "neutral" rating in a research note on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Barclays currently has a consensus rating of "Moderate Buy".

Barclays Stock Up 1.7%

Shares of Barclays stock opened at $27.23 on Friday. Barclays PLC has a 1 year low of $18.33 and a 1 year high of $28.43. The business has a 50-day moving average of $25.04 and a two-hundred day moving average of $24.52. The company has a market capitalization of $92.83 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 0.46 and a beta of 1.00. The company has a debt-to-equity ratio of 5.94, a current ratio of 1.44 and a quick ratio of 1.44.

Barclays (NYSE:BCS - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.01. Barclays had a return on equity of 8.12% and a net margin of 21.10%.The business had revenue of $5.07 billion for the quarter, compared to analysts' expectations of $10.88 billion. As a group, equities analysts predict that Barclays PLC will post 2.83 EPS for the current year.

About Barclays

Barclays PLC NYSE: BCS is a British multinational bank and financial services company headquartered in London. The firm provides a broad range of banking and financial products to individual, corporate and institutional customers. Its core activities span retail and business banking, credit cards and payments, corporate and investment banking, and wealth and investment management.

In retail and business banking, Barclays offers deposit accounts, mortgages, personal and business loans, and card services.

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