Panagora Asset Management Inc. Decreases Stock Holdings in Barclays PLC $BCS

Key Points

• Panagora Asset Management Inc. has reduced its stake in Barclays PLC by 12.9%, selling 33,284 shares and leaving them with a total of 225,646 shares worth approximately $3.47 million.
• Barclays reported better-than-expected quarterly earnings with an EPS of $0.62, surpassing analyst estimates of $0.50, and a revenue of $9.58 billion compared to expectations of $7.06 billion.
• The company has announced a semi-annual dividend of $0.1557 per share, representing a payout ratio of 14.29% and a substantial dividend yield of 210.0% for investors.

Panagora Asset Management Inc. cut its stake in Barclays PLC (NYSE:BCS - Free Report) by 12.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,646 shares of the financial services provider's stock after selling 33,284 shares during the quarter. Panagora Asset Management Inc.'s holdings in Barclays were worth $3,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new stake in Barclays during the first quarter valued at approximately $29,000. Elequin Capital LP bought a new stake in Barclays during the first quarter valued at approximately $30,000. Wealthquest Corp bought a new stake in Barclays during the first quarter valued at approximately $32,000. Zions Bancorporation National Association UT bought a new stake in Barclays during the first quarter valued at approximately $40,000. Finally, WPG Advisers LLC bought a new stake in Barclays during the first quarter valued at approximately $40,000. 3.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Barclays from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Morgan Stanley restated an "overweight" rating on shares of Barclays in a research report on Tuesday. Citigroup downgraded shares of Barclays from a "buy" rating to a "neutral" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Barclays in a report on Wednesday, July 16th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Barclays presently has an average rating of "Moderate Buy".

Barclays Price Performance

Shares of BCS stock traded down $0.40 during mid-day trading on Friday, hitting $19.72. The company had a trading volume of 11,237,864 shares, compared to its average volume of 9,084,942. Barclays PLC has a 52-week low of $11.22 and a 52-week high of $20.58. The stock's 50 day moving average price is $19.44 and its 200-day moving average price is $17.31. 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 company has a market capitalization of $69.61 billion, a P/E ratio of 9.09, a P/E/G ratio of 0.43 and a beta of 1.14.

Barclays (NYSE:BCS - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.50 by $0.12. Barclays had a net margin of 22.11% and a return on equity of 8.49%. The firm had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $7.06 billion. Equities research analysts forecast that Barclays PLC will post 2 earnings per share for the current year.

Barclays Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 8th will be paid a dividend of $0.1557 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a yield of 210.0%. Barclays's dividend payout ratio is presently 14.29%.

Barclays Company 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.