Covenant Partners LLC Reduces Stock Position in UBS Group AG (NYSE:UBS)

by · The Markets Daily

Covenant Partners LLC decreased its position in shares of UBS Group AG (NYSE:UBS – Free Report) by 50.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,908 shares of the bank’s stock after selling 10,123 shares during the quarter. Covenant Partners LLC’s holdings in UBS Group were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Claro Advisors LLC grew its holdings in UBS Group by 18.5% in the first quarter. Claro Advisors LLC now owns 11,682 shares of the bank’s stock valued at $359,000 after purchasing an additional 1,823 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of UBS Group by 11.2% in the first quarter. Hexagon Capital Partners LLC now owns 4,166 shares of the bank’s stock valued at $128,000 after purchasing an additional 420 shares in the last quarter. Norden Group LLC acquired a new stake in shares of UBS Group in the first quarter valued at approximately $806,000. First Trust Direct Indexing L.P. raised its position in shares of UBS Group by 6.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 69,917 shares of the bank’s stock worth $2,148,000 after purchasing an additional 4,488 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its stake in UBS Group by 2.4% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 56,937 shares of the bank’s stock valued at $1,749,000 after buying an additional 1,329 shares in the last quarter.

UBS Group Trading Down 0.9 %

UBS traded down $0.28 during midday trading on Friday, hitting $32.10. The company’s stock had a trading volume of 937,612 shares, compared to its average volume of 2,187,677. UBS Group AG has a 52-week low of $23.23 and a 52-week high of $32.88. The firm has a 50-day moving average price of $30.79 and a two-hundred day moving average price of $30.13. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 4.07. The firm has a market cap of $102.93 billion, a P/E ratio of 3.50 and a beta of 1.15.

UBS Group (NYSE:UBS – Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.12 by $0.22. UBS Group had a net margin of 2.31% and a return on equity of 2.14%. The firm had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.26 billion. During the same quarter in the prior year, the business posted $1.88 earnings per share. On average, research analysts anticipate that UBS Group AG will post 1.69 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Bank of America began coverage on UBS Group in a report on Thursday, September 19th. They issued a “neutral” rating for the company. StockNews.com lowered shares of UBS Group from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Read Our Latest Research Report on UBS Group

UBS Group Profile

(Free Report)

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.

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