DAVENPORT & Co LLC Sells 5,574 Shares of Barclays PLC $BCS

DAVENPORT & Co LLC reduced its holdings in shares of Barclays PLC (NYSE:BCS) by 12.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 40,973 shares of the financial services provider’s stock after selling 5,574 shares during the period. DAVENPORT & Co LLC’s holdings in Barclays were worth $762,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Elequin Capital LP bought a new stake in Barclays during the 1st quarter valued at $30,000. Wealthquest Corp bought a new stake in Barclays during the 1st quarter valued at $32,000. Zions Bancorporation National Association UT bought a new stake in Barclays during the 1st quarter valued at $40,000. WPG Advisers LLC bought a new stake in Barclays during the 1st quarter valued at $40,000. Finally, Wayfinding Financial LLC bought a new stake in Barclays during the 1st quarter valued at $46,000. 3.39% of the stock is owned by institutional investors.

Barclays Stock Down 0.9%

Shares of BCS stock opened at $19.75 on Friday. Barclays PLC has a 1-year low of $12.14 and a 1-year high of $21.22. The stock’s fifty day moving average price is $20.30 and its 200 day moving average price is $18.18. The company has a debt-to-equity ratio of 5.70, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $69.06 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 0.41 and a beta of 1.10.

Barclays (NYSE:BCS) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.12. Barclays had a return on equity of 8.49% and a net margin of 22.11%.The firm had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $7.06 billion. On average, research analysts expect that Barclays PLC will post 2 earnings per share for the current fiscal year.

Barclays Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 8th were paid a dividend of $0.1557 per share. This represents a yield of 210.0%. The ex-dividend date was Friday, August 8th. Barclays’s payout ratio is 14.75%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BCS shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Barclays in a research report on Monday, October 6th. Zacks Research upgraded Barclays from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Barclays in a research report on Wednesday. Royal Bank Of Canada reissued an “outperform” rating on shares of Barclays in a research report on Wednesday, July 16th. Finally, Citigroup lowered Barclays from a “buy” rating to a “neutral” rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Barclays has a consensus rating of “Buy”.

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.