Tocqueville Asset Management L.P. Decreases Position in UBS Group AG (UBS)
Tocqueville Asset Management L.P. decreased its position in shares of UBS Group AG (NYSE:UBS) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,230,391 shares of the bank’s stock after selling 12,485 shares during the quarter. Tocqueville Asset Management L.P. owned 0.06% of UBS Group worth $35,084,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC purchased a new position in shares of UBS Group during the second quarter valued at $444,000. BNP Paribas Arbitrage SA lifted its stake in UBS Group by 52.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 46,935 shares of the bank’s stock valued at $720,000 after purchasing an additional 16,204 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in UBS Group by 17.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 138,708 shares of the bank’s stock valued at $2,147,000 after purchasing an additional 20,418 shares during the last quarter. Wells Fargo & Company MN lifted its stake in UBS Group by 19.8% in the 2nd quarter. Wells Fargo & Company MN now owns 11,170,651 shares of the bank’s stock valued at $171,358,000 after purchasing an additional 1,844,479 shares during the last quarter. Finally, LMR Partners LLP bought a new position in UBS Group in the 2nd quarter valued at approximately $32,729,000. 35.03% of the stock is owned by hedge funds and other institutional investors.
NYSE UBS traded down $0.52 on Wednesday, hitting $13.21. The company’s stock had a trading volume of 3,387,208 shares, compared to its average volume of 1,939,954. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.92 and a current ratio of 0.92. UBS Group AG has a 1-year low of $13.01 and a 1-year high of $20.89. The stock has a market cap of $52.15 billion, a P/E ratio of 12.35 and a beta of 1.30.
Several equities analysts recently commented on UBS shares. JPMorgan Chase & Co. reissued a “buy” rating on shares of UBS Group in a research note on Tuesday, September 4th. Zacks Investment Research downgraded shares of UBS Group from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Finally, ValuEngine upgraded shares of UBS Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 4th. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $22.00.
UBS Group Profile
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.
Read More: Cost of Capital Explained
Receive News & Ratings for UBS Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UBS Group and related companies with MarketBeat.com's FREE daily email newsletter.