Victory Capital Management Inc. Acquires Shares of 67,762 UBS Group AG (NYSE:UBS)

Posted by Defense World Staff on Jun 1st, 2023

Victory Capital Management Inc. acquired a new stake in UBS Group AG (NYSE:UBS – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 67,762 shares of the bank’s stock, valued at approximately $1,454,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its position in UBS Group by 1.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 33,123 shares of the bank’s stock valued at $481,000 after purchasing an additional 539 shares during the period. Lingohr & Partner Asset Management GmbH lifted its stake in shares of UBS Group by 1.9% in the third quarter. Lingohr & Partner Asset Management GmbH now owns 33,228 shares of the bank’s stock worth $527,000 after acquiring an additional 606 shares in the last quarter. Cresset Asset Management LLC lifted its stake in shares of UBS Group by 5.5% in the first quarter. Cresset Asset Management LLC now owns 13,899 shares of the bank’s stock worth $272,000 after acquiring an additional 721 shares in the last quarter. Achmea Investment Management B.V. lifted its stake in shares of UBS Group by 0.3% in the fourth quarter. Achmea Investment Management B.V. now owns 290,736 shares of the bank’s stock worth $5,066,000 after acquiring an additional 738 shares in the last quarter. Finally, Sage Rhino Capital LLC lifted its stake in shares of UBS Group by 4.8% in the fourth quarter. Sage Rhino Capital LLC now owns 16,391 shares of the bank’s stock worth $306,000 after acquiring an additional 756 shares in the last quarter. 32.88% of the stock is owned by hedge funds and other institutional investors.

UBS Group Price Performance

Shares of NYSE:UBS opened at $18.91 on Thursday. UBS Group AG has a one year low of $13.80 and a one year high of $22.30. The stock has a fifty day moving average of $20.08 and a 200-day moving average of $20.02. The company has a market capitalization of $65.81 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.18 and a beta of 1.09. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.98 and a current ratio of 0.98.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on UBS. Bank of America upgraded UBS Group from a “neutral” rating to a “buy” rating in a research note on Monday, March 20th. Societe Generale cut UBS Group from a “buy” rating to a “hold” rating and set a $18.86 price objective on the stock. in a research note on Monday, March 20th. TheStreet cut UBS Group from a “b-” rating to a “c” rating in a research note on Monday, March 13th. Keefe, Bruyette & Woods lowered UBS Group from a “market perform” rating to an “underperform” rating in a report on Monday, March 20th. Finally, Royal Bank of Canada lowered UBS Group from an “outperform” rating to a “sector perform” rating in a report on Wednesday, March 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, UBS Group has an average rating of “Hold” and a consensus target price of $19.38.

UBS Group Company Profile

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UBS Group AG is a holding company, which engages in the provision of financial management solutions. It operates through the following segments: Global Wealth Management, Personal and Corporate Banking, Asset Management, Investment Bank, and Group Functions. The Global Wealth Management segment advises and offers financial services to wealthy private clients except those served by Wealth Management Americas which include banking and lending, wealth planning, and investment management.