UBS AG (UBS) Downgraded by Zacks Investment Research
According to Zacks, “UBS Group AG’s profitability growth continues to be challenged by a stressed operating environment with negative interest rates and global growth concerns. Further, in view of the current regulatory and political scenario affecting financial institutions, the company is burdened with a number of claims, disputes, legal proceedings and government investigations. However, we remain optimistic as the company remains focused on building capital level, executing restructuring initiatives, including cost control. Management remains confident to achieve CHF 2.1 billion in net cost reductions by the end of 2017.”
Several other analysts have also recently issued reports on UBS. Barclays PLC raised shares of UBS AG from an equal weight rating to an overweight rating and dropped their price objective for the company from $21.00 to $17.00 in a research note on Thursday, June 9th. JPMorgan Chase & Co. cut shares of UBS AG from a neutral rating to an underweight rating in a research note on Monday, June 27th. Royal Bank Of Canada cut shares of UBS AG from a sector perform rating to an underperform rating in a research note on Tuesday, June 28th. Keefe, Bruyette & Woods reaffirmed a buy rating on shares of UBS AG in a research note on Tuesday, June 28th. Finally, Macquarie cut shares of UBS AG from a neutral rating to an underperform rating in a research note on Tuesday, July 5th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. UBS AG presently has an average rating of Hold and an average price target of $16.87.
UBS AG (NYSE:UBS) opened at 13.91 on Tuesday. The company has a market cap of $51.56 billion, a P/E ratio of 10.79 and a beta of 1.32. UBS AG has a 52 week low of $11.93 and a 52 week high of $20.70. The company has a 50-day moving average of $14.00 and a 200-day moving average of $14.52.
Several institutional investors have recently bought and sold shares of the company. Credit Suisse AG boosted its position in UBS AG by 4.8% in the second quarter. Credit Suisse AG now owns 112,739,089 shares of the company’s stock worth $1,461,098,000 after buying an additional 5,186,336 shares during the last quarter. Vanguard Group Inc. boosted its position in UBS AG by 4.7% in the second quarter. Vanguard Group Inc. now owns 77,566,541 shares of the company’s stock worth $1,005,263,000 after buying an additional 3,488,096 shares during the last quarter. Franklin Resources Inc. boosted its position in UBS AG by 607.7% in the second quarter. Franklin Resources Inc. now owns 33,257,077 shares of the company’s stock worth $428,318,000 after buying an additional 28,557,465 shares during the last quarter. Fisher Asset Management LLC boosted its position in UBS AG by 3.7% in the second quarter. Fisher Asset Management LLC now owns 31,407,907 shares of the company’s stock worth $392,913,000 after buying an additional 1,128,110 shares during the last quarter. Finally, FMR LLC boosted its position in UBS AG by 2.2% in the second quarter. FMR LLC now owns 29,341,270 shares of the company’s stock worth $380,553,000 after buying an additional 631,703 shares during the last quarter. 26.90% of the stock is owned by hedge funds and other institutional investors.
About UBS AG
UBS Group AG (UBS) is a holding company. The Company provides a range of financial services, including advisory services, underwriting, financing, market-making, asset management and brokerage on a global level, and retail banking in Switzerland. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank.
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