UBS Group AG $UBS Stock Position Lessened by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management reduced its UBS Group position by 11.4% in the third quarter, selling 284,125 shares and retaining 2.21 million shares valued at approximately $106.2 million.
• Several major investors increased their UBS holdings, including Assenagon Asset Management, which boosted its stake by 43.4%. Analyst sentiment remains mixed, with a consensus “Hold” rating and a $60.30 target price.
• UBS shares opened at $46.78, below their 12-month high of $55.99. The bank’s latest quarterly results missed analyst expectations, reporting $0.87 EPS versus a $0.90 estimate, although revenue rose 13.2% year over year.

Generali Asset Management SPA SGR cut its position in shares of UBS Group AG (NYSE:UBS - Free Report) by 11.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,207,465 shares of the bank's stock after selling 284,125 shares during the quarter. UBS Group makes up about 1.8% of Generali Asset Management SPA SGR's investment portfolio, making the stock its 9th largest position. Generali Asset Management SPA SGR owned 0.07% of UBS Group worth $106,245,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in UBS Group by 43.4% in the third 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 in the last quarter. Amundi grew its position in UBS Group by 16.9% during the first quarter. Amundi now owns 23,294,847 shares of the bank's stock valued at $910,130,000 after acquiring an additional 3,374,516 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in UBS Group by 7.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 18,850,928 shares of the bank's stock valued at $728,340,000 after acquiring an additional 1,323,586 shares during the last quarter. Ninety One UK Ltd grew its position in UBS Group by 4.7% during the third quarter. Ninety One UK Ltd now owns 7,469,509 shares of the bank's stock valued at $360,437,000 after acquiring an additional 336,264 shares during the last quarter. Finally, WCM Investment Management LLC raised its stake in shares of UBS Group by 12.3% during the first quarter. WCM Investment Management LLC now owns 5,850,200 shares of the bank's stock worth $214,527,000 after acquiring an additional 639,111 shares in the last quarter.

Analyst Upgrades and Downgrades

UBS has been the subject of a number of recent research reports. Royal Bank Of Canada restated a "buy" rating on shares of UBS Group in a report on Monday, September 28th. Zacks Research raised shares of UBS Group from a "hold" rating to a "strong-buy" rating in a report on Friday, October 2nd. Citigroup reiterated a "neutral" rating on shares of UBS Group in a research report on Monday, July 20th. Morgan Stanley reissued an "underweight" rating on shares of UBS Group in a research note on Wednesday, September 2nd. Finally, Wall Street Zen downgraded shares of UBS Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $60.30.

UBS Group Stock Up 0.7%

Shares of UBS opened at $46.78 on Wednesday. The stock has a market capitalization of $146.14 billion, a P/E ratio of 15.91 and a beta of 1.21. UBS Group AG has a twelve month low of $36.29 and a twelve month high of $55.99. The firm has a fifty day simple moving average of $50.56 and a two-hundred day simple moving average of $47.12.

UBS Group (NYSE:UBS - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The bank reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.03). The business had revenue of $13.35 billion for the quarter, compared to analysts' expectations of $13.40 billion. The company's revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. Sell-side analysts expect that UBS Group AG will post 3.59 EPS for the current fiscal 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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