UBS Group AG $UBS Shares Newly Acquired by Provenance Wealth Advisors LLC

Key Points

• Provenance Wealth Advisors acquired 24,309 UBS shares in the third quarter, valued at approximately $1.17 million. Several other institutional investors also increased their holdings.
• UBS’s latest quarter showed revenue of $13.39 billion, up 9.7% year over year and above estimates, but earnings per share of $0.85 fell short of the $0.91 consensus.
• Analyst opinion is mixed: MarketBeat reports an average “Hold” rating and a $60.30 average price target. Potential compromise on capital rules could ease concerns, while reported London job cuts and cyber risks remain notable issues.

Provenance Wealth Advisors LLC acquired a new stake in shares of UBS Group AG (NYSE:UBS - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 24,309 shares of the bank's stock, valued at approximately $1,170,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in UBS Group by 43.4% during the 3rd 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 stake in UBS Group by 16.9% in the first quarter. Amundi now owns 23,294,847 shares of the bank's stock valued at $910,130,000 after buying an additional 3,374,516 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in UBS Group by 7.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 18,850,928 shares of the bank's stock valued at $728,340,000 after buying an additional 1,323,586 shares in the last quarter. Ninety One UK Ltd boosted its holdings in shares of UBS Group by 4.7% in the third quarter. Ninety One UK Ltd now owns 7,469,509 shares of the bank's stock valued at $360,437,000 after buying an additional 336,264 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of UBS Group by 1.5% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,685,219 shares of the bank's stock valued at $274,344,000 after buying an additional 84,207 shares during the period.

UBS Group News Roundup

Here are the key news stories impacting UBS Group this week:

• Positive Sentiment: A lawmaker’s proposal may give UBS a new opportunity to reach a compromise over capital requirements, potentially easing concerns about the rules’ impact. The details and likelihood of a compromise are not yet clear. UBS Has New Chance of Capital Compromise After Lawmaker Plan
• Neutral Sentiment: UBS reportedly cut about 200 jobs in London in recent weeks. The move could lower costs, though the report does not specify the roles affected or expected savings. UBS slashes 200 jobs in London in recent weeks - report
• Negative Sentiment: Zacks Research lowered its UBS rating from “strong buy” to “hold,” a less bullish signal for the shares. Zacks Research stock recommendations
• Negative Sentiment: CEO Sergio Ermotti said cyber risks now rival traditional threats to banks, underscoring a significant operational risk for UBS and the sector. UBS CEO Ermotti Says Cyber Risks Rival Traditional Bank Threats

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UBS. Citigroup reissued a "neutral" rating on shares of UBS Group in a research report on Monday, July 20th. Morgan Stanley reaffirmed an "underweight" rating on shares of UBS Group in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of UBS Group in a research note on Wednesday, September 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of UBS Group in a report on Thursday, October 29th. Finally, DZ Bank reiterated a "buy" rating on shares of UBS Group in a report on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $60.30.

UBS Group Stock Performance

NYSE UBS opened at $50.62 on Thursday. The stock has a market capitalization of $158.15 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 0.71 and a beta of 1.19. The stock's 50 day moving average price is $49.94 and its two-hundred day moving average price is $47.14. UBS Group AG has a 52 week low of $36.29 and a 52 week high of $55.99.

UBS Group (NYSE:UBS - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The bank reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.06). The firm had revenue of $13.39 billion for the quarter, compared to analyst estimates of $13.07 billion. UBS Group had a return on equity of 10.77% and a net margin of 13.36%. The company's revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. On average, equities research analysts forecast that UBS Group AG will post 3.63 EPS for the current year.

UBS Group Profile

UBS Group AG is a Switzerland-based global financial services company serving private, institutional and corporate clients. The company provides wealth management, asset management, investment banking and personal and corporate banking services. Its offerings include investment advice, portfolio management, lending, securities and foreign exchange services, financial planning, and banking products for individuals and businesses.

UBS operates through four principal business areas: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank.

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