UBS AG (UBS) Shares Gap Up to $13.51
Shares of UBS AG (NYSE:UBS) gapped up before the market opened on Wednesday . The stock had previously closed at $13.46, but opened at $13.51. UBS AG shares last traded at $13.74, with a volume of 716,257 shares trading hands.
A number of analysts recently issued reports on the company. Barclays PLC raised UBS AG from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $21.00 to $17.00 in a research report on Thursday, June 9th. BNP Paribas reissued a “sell” rating on shares of UBS AG in a research report on Monday, September 12th. Zacks Investment Research raised UBS AG from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. JPMorgan Chase & Co. cut UBS AG from a “neutral” rating to an “underweight” rating in a research report on Monday, June 27th. Finally, Credit Suisse Group AG began coverage on UBS AG in a research report on Monday. They issued a “neutral” rating for the company. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $16.87.
The firm has a market cap of $51.26 billion, a price-to-earnings ratio of 10.85 and a beta of 1.32. The company has a 50-day moving average price of $13.97 and a 200-day moving average price of $14.76.
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A number of institutional investors have recently added to or reduced their stakes in UBS. Credit Suisse AG boosted its position in UBS AG by 4.8% in the second quarter. Credit Suisse AG now owns 112,739,089 shares of the company’s stock worth $1,461,098,000 after buying an additional 5,186,336 shares during the period. Vanguard Group Inc. boosted its position in UBS AG by 4.7% in the second quarter. Vanguard Group Inc. now owns 77,566,541 shares of the company’s stock worth $1,005,263,000 after buying an additional 3,488,096 shares during the period. Franklin Resources Inc. boosted its position in UBS AG by 607.7% in the second quarter. Franklin Resources Inc. now owns 33,257,077 shares of the company’s stock worth $428,318,000 after buying an additional 28,557,465 shares during the period. Fisher Asset Management LLC boosted its position in UBS AG by 3.7% in the second quarter. Fisher Asset Management LLC now owns 31,407,907 shares of the company’s stock worth $392,913,000 after buying an additional 1,128,110 shares during the period. Finally, FMR LLC boosted its position in UBS AG by 2.2% in the second quarter. FMR LLC now owns 29,341,270 shares of the company’s stock worth $380,553,000 after buying an additional 631,703 shares during the period. Hedge funds and other institutional investors own 26.94% of the company’s stock.
About UBS AG
UBS Group AG (UBS) is a holding company. The Company provides a range of financial services, including advisory services, underwriting, financing, market-making, asset management and brokerage on a global level, and retail banking in Switzerland. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank.
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