Wells Fargo & Company MN lessened its holdings in UBS AG (NYSE:UBS) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,253,717 shares of the bank’s stock after selling 60,238 shares during the quarter. Wells Fargo & Company MN owned 0.09% of UBS AG worth $55,248,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of UBS. Franklin Resources Inc. raised its stake in shares of UBS AG by 21.2% in the second quarter. Franklin Resources Inc. now owns 57,935,725 shares of the bank’s stock worth $981,476,000 after purchasing an additional 10,125,809 shares during the last quarter. Eaton Vance Management raised its stake in shares of UBS AG by 244.9% in the second quarter. Eaton Vance Management now owns 49,611 shares of the bank’s stock worth $842,000 after purchasing an additional 35,228 shares during the last quarter. CIBC World Markets Inc. purchased a new position in shares of UBS AG in the second quarter worth about $4,357,000. Engineers Gate Manager LP purchased a new position in shares of UBS AG in the second quarter worth about $2,793,000. Finally, Fiduciary Trust Co. purchased a new position in shares of UBS AG in the second quarter worth about $136,000. 31.43% of the stock is owned by institutional investors and hedge funds.
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Several research analysts have recently issued reports on UBS shares. Zacks Investment Research upgraded UBS AG from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Friday, September 1st. J P Morgan Chase & Co upgraded UBS AG from a “neutral” rating to an “overweight” rating in a research note on Monday, June 26th. BidaskClub cut UBS AG from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. ValuEngine cut UBS AG from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BNP Paribas started coverage on UBS AG in a research note on Thursday, August 31st. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $16.14.
UBS AG (NYSE:UBS) opened at 16.70 on Friday. The stock has a market capitalization of $62.07 billion, a PE ratio of 15.51 and a beta of 1.25. UBS AG has a 52 week low of $12.86 and a 52 week high of $18.31. The stock has a 50 day moving average price of $16.87 and a 200 day moving average price of $16.52.
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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