Advisor Group Inc. boosted its stake in UBS (NYSE:UBS) by 21.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,543 shares of the bank’s stock after purchasing an additional 3,825 shares during the period. Advisor Group Inc.’s holdings in UBS were worth $396,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Ameriprise Financial Inc. grew its position in shares of UBS by 9.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 660,876 shares of the bank’s stock worth $11,326,000 after buying an additional 56,921 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of UBS by 34.4% in the 3rd quarter. Wells Fargo & Company MN now owns 4,372,190 shares of the bank’s stock worth $74,983,000 after buying an additional 1,118,473 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of UBS by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,304,240 shares of the bank’s stock worth $39,518,000 after buying an additional 7,645 shares during the last quarter. Stifel Financial Corp grew its position in shares of UBS by 1.8% in the 3rd quarter. Stifel Financial Corp now owns 343,627 shares of the bank’s stock worth $5,892,000 after buying an additional 5,946 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of UBS by 1.8% in the 3rd quarter. Mackenzie Financial Corp now owns 1,018,180 shares of the bank’s stock worth $17,462,000 after buying an additional 18,286 shares during the last quarter. 36.72% of the stock is currently owned by institutional investors and hedge funds.
NYSE UBS opened at $17.66 on Monday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.21 and a current ratio of 1.21. UBS has a twelve month low of $15.10 and a twelve month high of $20.89. The company has a market cap of $68,063.60, a P/E ratio of 16.50 and a beta of 1.30.
UBS announced that its board has authorized a stock buyback plan on Monday, January 22nd that permits the company to buyback outstanding shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
A number of brokerages have recently weighed in on UBS. JPMorgan Chase reiterated a “buy” rating on shares of UBS in a research report on Wednesday, March 7th. Morgan Stanley restated a “buy” rating on shares of UBS in a research report on Tuesday, February 13th. Zacks Investment Research lowered UBS from a “buy” rating to a “hold” rating in a research report on Saturday, January 20th. Credit Suisse Group upgraded UBS from a “neutral” rating to an “outperform” rating in a research report on Thursday, January 18th. Finally, Barclays assumed coverage on UBS in a research report on Tuesday, January 16th. They set an “underweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $22.00.
UBS Group AG, together with its subsidiaries, provides financial advice and solutions worldwide. It operates through five divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management, and Investment Bank. The Wealth Management division offers advisory and financial services to wealthy private clients.
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