Envestnet Portfolio Solutions Inc. Sells 6,404 Shares of UBS Group AG $UBS

Envestnet Portfolio Solutions Inc. lessened its holdings in UBS Group AG (NYSE:UBS) by 28.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,980 shares of the bank’s stock after selling 6,404 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in UBS Group were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in UBS Group by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 131,449,343 shares of the bank’s stock valued at $4,037,467,000 after acquiring an additional 3,562,475 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of UBS Group by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 74,893,429 shares of the bank’s stock worth $2,293,986,000 after buying an additional 1,363,149 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of UBS Group by 8.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,586,232 shares of the bank’s stock worth $1,688,163,000 after buying an additional 4,207,140 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of UBS Group by 88.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 37,654,399 shares of the bank’s stock worth $1,153,354,000 after buying an additional 17,676,829 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of UBS Group by 1.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 35,428,808 shares of the bank’s stock worth $1,075,976,000 after buying an additional 449,013 shares during the period.

Wall Street Analysts Forecast Growth

UBS has been the subject of several research reports. Zacks Research upgraded UBS Group to a “strong-buy” rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of UBS Group in a report on Thursday, August 14th. Wall Street Zen cut UBS Group from a “hold” rating to a “sell” rating in a report on Sunday, September 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of UBS Group in a report on Wednesday, October 8th. Finally, Bank of America upgraded UBS Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

UBS Group Trading Down 2.1%

Shares of NYSE:UBS opened at $37.55 on Wednesday. The business’s 50-day moving average is $40.36 and its 200 day moving average is $35.46. UBS Group AG has a 1 year low of $25.75 and a 1 year high of $42.56. The firm has a market capitalization of $120.40 billion, a P/E ratio of 19.87, a P/E/G ratio of 0.62 and a beta of 1.18. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.05 and a quick ratio of 1.05.

UBS Group (NYSE:UBS) last announced its earnings results on Wednesday, July 30th. The bank reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. UBS Group had a return on equity of 7.17% and a net margin of 9.21%.The company had revenue of $11.55 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same period in the prior year, the company posted $0.34 EPS. On average, research analysts predict that UBS Group AG will post 1.9 earnings per share for the current fiscal year.

UBS Group Profile

UBS Group AG provides financial advice and solutions to private, institutional, and corporate clients worldwide. It operates through five divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management, Investment Bank, and Non-core and Legacy. The company offers investment advice, estate and wealth planning, investing, corporate and banking, and investment management, as well as mortgage, securities-based, and structured lending solutions.