DAVENPORT & Co LLC Sells 11,711 Shares of Barclays PLC (NYSE:BCS)

DAVENPORT & Co LLC cut its holdings in Barclays PLC (NYSE:BCS) by 42.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,108 shares of the financial services provider’s stock after selling 11,711 shares during the period. DAVENPORT & Co LLC’s holdings in Barclays were worth $127,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BCS. Advisors Asset Management Inc. lifted its stake in shares of Barclays by 5.4% in the 4th quarter. Advisors Asset Management Inc. now owns 23,824 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 1,228 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Barclays by 9.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,515 shares of the financial services provider’s stock valued at $112,000 after buying an additional 1,320 shares during the period. Advisor Partners II LLC lifted its position in Barclays by 1.7% in the first quarter. Advisor Partners II LLC now owns 77,692 shares of the financial services provider’s stock worth $559,000 after buying an additional 1,326 shares during the last quarter. Cedar Brook Financial Partners LLC boosted its stake in Barclays by 10.8% during the third quarter. Cedar Brook Financial Partners LLC now owns 14,562 shares of the financial services provider’s stock worth $113,000 after buying an additional 1,422 shares during the period. Finally, Blue Trust Inc. increased its position in Barclays by 23.7% during the fourth quarter. Blue Trust Inc. now owns 8,183 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 1,567 shares during the last quarter. 3.39% of the stock is currently owned by hedge funds and other institutional investors.

Barclays Price Performance

BCS opened at $9.36 on Friday. The business has a fifty day moving average of $8.69 and a 200 day moving average of $7.82. The stock has a market cap of $35.47 billion, a P/E ratio of 6.83, a PEG ratio of 0.38 and a beta of 1.48. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 5.63. Barclays PLC has a 52-week low of $6.23 and a 52-week high of $9.98.

Barclays (NYSE:BCS) last released its earnings results on Tuesday, February 20th. The financial services provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.39). The business had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $7.38 billion. Barclays had a return on equity of 6.09% and a net margin of 16.82%. As a group, sell-side analysts anticipate that Barclays PLC will post 1.59 EPS for the current year.

Barclays Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Friday, March 1st were paid a $0.2671 dividend. This is an increase from Barclays’s previous semi-annual dividend of $0.14. This represents a yield of 4.6%. The ex-dividend date of this dividend was Thursday, February 29th. Barclays’s dividend payout ratio is currently 37.96%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Barclays from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $190.00.

Barclays Profile

Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International division segments. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services.