Ameriprise Financial Inc. Boosts Holdings in Ubiquiti Inc. (NYSE:UI)

Ameriprise Financial Inc. increased its stake in shares of Ubiquiti Inc. (NYSE:UI) by 98.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,828 shares of the company’s stock after buying an additional 9,858 shares during the period. Ameriprise Financial Inc.’s holdings in Ubiquiti were worth $6,581,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Versor Investments LP increased its stake in shares of Ubiquiti by 254.5% in the fourth quarter. Versor Investments LP now owns 3,900 shares of the company’s stock worth $1,295,000 after purchasing an additional 2,800 shares in the last quarter. Barclays PLC increased its stake in shares of Ubiquiti by 4,880.2% in the third quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $2,959,000 after purchasing an additional 13,079 shares in the last quarter. Convergence Investment Partners LLC purchased a new position in shares of Ubiquiti in the fourth quarter worth about $2,180,000. Sei Investments Co. purchased a new position in shares of Ubiquiti in the fourth quarter worth about $1,737,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Ubiquiti in the fourth quarter worth about $1,246,000. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Ubiquiti Trading Down 0.2%

NYSE:UI opened at $392.63 on Friday. The company has a fifty day moving average of $334.37 and a 200 day moving average of $344.96. Ubiquiti Inc. has a 52 week low of $139.06 and a 52 week high of $469.98. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $23.75 billion, a P/E ratio of 53.35 and a beta of 1.32.

Ubiquiti Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Monday, May 19th. Ubiquiti’s payout ratio is currently 26.43%.

Analysts Set New Price Targets

UI has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Ubiquiti from $222.00 to $247.00 and gave the company an “underweight” rating in a research note on Monday, May 12th. BWS Financial reaffirmed a “buy” rating and set a $440.00 price objective on shares of Ubiquiti in a research note on Monday, May 12th.

Ubiquiti Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.