UBS AG (UBS) Rating Lowered to Hold at Zacks Investment Research
UBS AG (NYSE:UBS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “UBS Group AG’s shares have underperformed the industry in the last six months. UBS Group remains focused on building capital levels, global expansion and executing restructuring initiatives. Moreover, management anticipates achieving CHF 2.1 billion in net cost reductions by the end of 2017. Though, UBS Group AG’s profitability continues to be challenged by negative interest rates in the domestic economy and strict regulatory framework, its strong capital position remains a tailwind.”
A number of other research firms also recently weighed in on UBS. BNP Paribas started coverage on shares of UBS AG in a research note on Thursday. They set an “outperform” rating on the stock. BidaskClub downgraded shares of UBS AG from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Morgan Stanley reaffirmed a “buy” rating on shares of UBS AG in a research note on Tuesday, July 18th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of UBS AG in a research note on Monday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $16.14.
Shares of UBS AG (UBS) opened at 16.42 on Thursday. The firm has a market cap of $61.03 billion, a P/E ratio of 15.40 and a beta of 1.25. UBS AG has a 12-month low of $12.86 and a 12-month high of $18.31. The company has a 50-day moving average of $17.24 and a 200 day moving average of $16.47.
Several large investors have recently added to or reduced their stakes in UBS. Vanguard Group Inc. raised its stake in UBS AG by 5.7% in the second quarter. Vanguard Group Inc. now owns 86,199,587 shares of the bank’s stock valued at $1,463,669,000 after buying an additional 4,634,833 shares during the last quarter. Franklin Resources Inc. raised its stake in UBS AG by 21.2% in the second quarter. Franklin Resources Inc. now owns 57,935,725 shares of the bank’s stock valued at $981,476,000 after buying an additional 10,125,809 shares during the last quarter. Fisher Asset Management LLC raised its stake in UBS AG by 7.0% in the second quarter. Fisher Asset Management LLC now owns 40,167,025 shares of the bank’s stock valued at $682,036,000 after buying an additional 2,639,249 shares during the last quarter. Wellington Management Group LLP raised its stake in UBS AG by 21.5% in the first quarter. Wellington Management Group LLP now owns 39,721,107 shares of the bank’s stock valued at $635,464,000 after buying an additional 7,031,841 shares during the last quarter. Finally, FMR LLC raised its stake in UBS AG by 4.9% in the first quarter. FMR LLC now owns 37,416,851 shares of the bank’s stock valued at $598,094,000 after buying an additional 1,731,136 shares during the last quarter. 31.43% of the stock is owned by institutional investors.
About UBS AG
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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