Pinnacle Associates Ltd. Has $406,000 Stock Holdings in UBS Group AG (NYSE:UBS)

Pinnacle Associates Ltd. raised its holdings in shares of UBS Group AG (NYSE:UBS) by 35.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,123 shares of the bank’s stock after purchasing an additional 3,400 shares during the quarter. Pinnacle Associates Ltd.’s holdings in UBS Group were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in shares of UBS Group by 11,313.2% during the second quarter. Legal & General Group Plc now owns 41,389,783 shares of the bank’s stock worth $1,218,317,000 after buying an additional 41,027,134 shares in the last quarter. M&G Plc acquired a new stake in shares of UBS Group during the first quarter worth $173,678,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of UBS Group by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,060,137 shares of the bank’s stock worth $1,591,242,000 after buying an additional 5,508,422 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of UBS Group by 72.7% during the first quarter. Acadian Asset Management LLC now owns 8,130,150 shares of the bank’s stock worth $250,360,000 after buying an additional 3,421,396 shares in the last quarter. Finally, Susquehanna International Securities Ltd. lifted its holdings in shares of UBS Group by 162.3% during the second quarter. Susquehanna International Securities Ltd. now owns 5,016,425 shares of the bank’s stock worth $148,185,000 after buying an additional 3,103,747 shares in the last quarter.

UBS Group Stock Up 1.4 %

Shares of NYSE UBS opened at $31.11 on Monday. The company has a debt-to-equity ratio of 3.87, a quick ratio of 1.06 and a current ratio of 1.05. UBS Group AG has a 52 week low of $24.07 and a 52 week high of $32.90. The stock has a market capitalization of $99.75 billion, a P/E ratio of 25.93 and a beta of 1.15. The stock’s fifty day moving average is $30.88 and its 200 day moving average is $30.24.

UBS Group (NYSE:UBS) last issued its quarterly earnings results on Wednesday, October 30th. The bank reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.15. UBS Group had a return on equity of 4.69% and a net margin of 5.13%. The company had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $11.20 billion. During the same quarter last year, the business earned ($0.24) earnings per share. Sell-side analysts forecast that UBS Group AG will post 1.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on UBS. StockNews.com raised UBS Group from a “hold” rating to a “buy” rating in a report on Friday. Bank of America assumed coverage on UBS Group in a research report on Thursday, September 19th. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

About UBS Group

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.