Zacks Investment Research Lowers UBS AG (UBS) to Hold
Zacks Investment Research cut shares of UBS AG (NYSE:UBS) from a buy rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “Shares of UBS Group AG have underperformed the industry on NYSE in the last six months. The company’s profitability continues to be challenged by negative interest rates in the domestic economy and strict regulatory framework. However, UBS Group remains focused on building capital levels, global expansion and executing restructuring initiatives. Moreover, management anticipates to achieve CHF 2.1 billion in net cost reductions by the end of 2017. Further, the company’s strong capital position remains a tailwind.”
A number of other equities research analysts also recently issued reports on UBS. BidaskClub downgraded UBS AG from a hold rating to a sell rating in a research note on Thursday, August 3rd. Instinet downgraded UBS AG from a buy rating to a neutral rating in a research note on Sunday, October 1st. ValuEngine downgraded UBS AG from a strong-buy rating to a buy rating in a research note on Friday, September 1st. BNP Paribas began coverage on UBS AG in a research note on Thursday, August 31st. They set an outperform rating for the company. Finally, J P Morgan Chase & Co upgraded UBS AG from a neutral rating to an overweight rating in a research note on Monday, June 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $19.00.
UBS AG (NYSE UBS) opened at 17.11 on Thursday. The company has a market cap of $63.59 billion, a price-to-earnings ratio of 15.80 and a beta of 1.26. The firm’s 50-day moving average is $16.74 and its 200-day moving average is $16.64. UBS AG has a 12 month low of $13.21 and a 12 month high of $18.31.
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Several large investors have recently made changes to their positions in UBS. Franklin Resources Inc. grew its stake in shares of UBS AG by 21.2% during the 2nd quarter. Franklin Resources Inc. now owns 57,935,725 shares of the bank’s stock valued at $981,476,000 after acquiring an additional 10,125,809 shares during the period. Vanguard Group Inc. grew its stake in shares of UBS AG by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 86,199,587 shares of the bank’s stock valued at $1,463,669,000 after acquiring an additional 4,634,833 shares during the period. AXA grew its stake in shares of UBS AG by 94.1% during the 2nd quarter. AXA now owns 6,299,667 shares of the bank’s stock valued at $106,968,000 after acquiring an additional 3,054,657 shares during the period. Fisher Asset Management LLC grew its stake in shares of UBS AG by 7.0% during the 2nd quarter. Fisher Asset Management LLC now owns 40,167,025 shares of the bank’s stock valued at $682,036,000 after acquiring an additional 2,639,249 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of UBS AG by 3,116.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,558,612 shares of the bank’s stock valued at $43,446,000 after acquiring an additional 2,479,068 shares during the period. Institutional investors own 31.42% of the company’s stock.
UBS AG Company 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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