Zurcher Kantonalbank Zurich Cantonalbank Sells 8,038,368 Shares of UBS AG (UBS)
Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of UBS AG (NYSE:UBS) by 17.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,442,142 shares of the bank’s stock after selling 8,038,368 shares during the quarter. UBS AG comprises about 6.1% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its biggest holding. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 1.00% of UBS AG worth $657,522,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. BBR Partners LLC grew its holdings in shares of UBS AG by 0.3% during the second quarter. BBR Partners LLC now owns 62,426 shares of the bank’s stock worth $1,060,000 after buying an additional 181 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of UBS AG by 1.2% in the second quarter. Pinnacle Associates Ltd. now owns 16,090 shares of the bank’s stock valued at $273,000 after purchasing an additional 192 shares during the period. Hartland & Co. LLC grew its holdings in shares of UBS AG by 0.9% in the second quarter. Hartland & Co. LLC now owns 30,264 shares of the bank’s stock valued at $514,000 after purchasing an additional 264 shares during the period. ETRADE Capital Management LLC grew its holdings in shares of UBS AG by 0.3% in the second quarter. ETRADE Capital Management LLC now owns 109,687 shares of the bank’s stock valued at $1,862,000 after purchasing an additional 372 shares during the period. Finally, Greenleaf Trust grew its holdings in shares of UBS AG by 2.8% in the second quarter. Greenleaf Trust now owns 16,020 shares of the bank’s stock valued at $272,000 after purchasing an additional 438 shares during the period. 32.59% of the stock is owned by institutional investors and hedge funds.
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Shares of UBS AG (NYSE UBS) traded down $0.05 during mid-day trading on Tuesday, reaching $17.10. 1,581,900 shares of the company’s stock traded hands, compared to its average volume of 2,015,158. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 2.46. The stock has a market capitalization of $66,180.00 and a price-to-earnings ratio of 15.04. UBS AG has a one year low of $15.10 and a one year high of $18.31.
A number of brokerages recently issued reports on UBS. Zacks Investment Research raised shares of UBS AG from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Monday, September 18th. BidaskClub lowered shares of UBS AG from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Instinet lowered shares of UBS AG from a “buy” rating to a “neutral” rating in a report on Sunday, October 1st. Finally, Bank of America Corporation raised shares of UBS AG from a “neutral” rating to a “buy” rating in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $19.00.
UBS AG Company Profile
UBS Group AG is a holding company and conducts its operations through UBS AG and its subsidiaries. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. Wealth Management division provides advice and tailored financial services to wealthy private clients around the world, except those served by Wealth Management Americas.
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