19,151,753 Shares in UBS Group AG (UBS) Purchased by Amundi Pioneer Asset Management Inc.
Amundi Pioneer Asset Management Inc. purchased a new position in shares of UBS Group AG (NYSE:UBS) during the fourth quarter, Holdings Channel reports. The firm purchased 19,151,753 shares of the bank’s stock, valued at approximately $352,202,000.
Several other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC increased its stake in shares of UBS Group by 3.9% during the fourth quarter. Fisher Asset Management LLC now owns 42,907,502 shares of the bank’s stock worth $789,069,000 after acquiring an additional 1,604,297 shares during the period. Allianz Asset Management GmbH increased its stake in shares of UBS Group by 4.5% during the fourth quarter. Allianz Asset Management GmbH now owns 21,758,540 shares of the bank’s stock worth $400,573,000 after acquiring an additional 938,277 shares during the period. Russell Investments Group Ltd. increased its stake in shares of UBS Group by 7.6% during the fourth quarter. Russell Investments Group Ltd. now owns 10,458,951 shares of the bank’s stock worth $192,002,000 after acquiring an additional 740,383 shares during the period. Bank of New York Mellon Corp increased its stake in shares of UBS Group by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 10,189,231 shares of the bank’s stock worth $174,745,000 after acquiring an additional 290,696 shares during the period. Finally, AXA increased its stake in shares of UBS Group by 12.0% during the third quarter. AXA now owns 7,052,809 shares of the bank’s stock worth $120,955,000 after acquiring an additional 753,142 shares during the period. Institutional investors and hedge funds own 34.85% of the company’s stock.
UBS has been the topic of a number of recent analyst reports. Bank of America upgraded shares of UBS Group from a “neutral” rating to a “buy” rating in a research note on Friday, November 10th. TheStreet upgraded shares of UBS Group from a “d” rating to a “c” rating in a research note on Monday, November 27th. Zacks Investment Research upgraded shares of UBS Group from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Saturday, January 6th. Barclays initiated coverage on shares of UBS Group in a research note on Tuesday, January 16th. They set an “underweight” rating on the stock. Finally, Credit Suisse Group upgraded shares of UBS Group from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $22.00.
UBS Group (NYSE:UBS) last released its quarterly earnings data on Sunday, January 21st. The bank reported $0.17 EPS for the quarter. The firm had revenue of $7.31 billion for the quarter. UBS Group had a net margin of 3.16% and a return on equity of 7.96%. analysts forecast that UBS Group AG will post 1.7 EPS for the current year.
UBS Group announced that its board has approved a share repurchase program on Monday, January 22nd that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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UBS Group 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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