Oldfield Partners Llp Stake in Citigroup (C) Has Boosted by $3.33 Million; Verizon Communications …

Folger Nolan Fleming Douglas Capital Management Inc increased its stake in Verizon Communications … 21,623 were reported by Quantum Capital.

Verizon Communications Inc. (NYSE:VZ) Logo

Folger Nolan Fleming Douglas Capital Management Inc increased its stake in Verizon Communications (VZ) by 10.7% based on its latest 2018Q4 regulatory filing with the SEC. Folger Nolan Fleming Douglas Capital Management Inc bought 5,654 shares as the company’s stock declined 6.36% while stock markets rallied. The institutional investor held 58,491 shares of the telecommunications equipment company at the end of 2018Q4, valued at $3.29 million, up from 52,837 at the end of the previous reported quarter. Folger Nolan Fleming Douglas Capital Management Inc who had been investing in Verizon Communications for a number of months, seems to be bullish on the $231.58 billion market cap company. The stock decreased 0.68% or $0.39 during the last trading session, reaching $55.99. About 3.97M shares traded. Verizon Communications Inc. (NYSE:VZ) has risen 17.26% since May 9, 2018 and is uptrending. It has outperformed by 12.89% the S&P500. Some Historical VZ News: 27/04/2018 – Verizon’s Oath Hires Former Snap Inc. Exec Jeff Lucas as Head of Americas Sales; 20/04/2018 – A source tells CNBC the department’s antitrust division has sent requests for information to all four major carriers: AT&T, Verizon, T-Mobile and Sprint; 05/04/2018 – HELIOS AND MATHESON ANALYTICS- OATH AND VERIZON HAVE TAKEN AN OWNERSHIP STAKE IN MOVIEPASS THROUGH EQUITY IN HMNY IN CONNECTION WITH TRANSACTION; 24/04/2018 – VERIZON – EXPECTS LOW SINGLE-DIGIT PERCENTAGE GROWTH IN ADJUSTED EPS IN 2018 BEFORE IMPACT OF TAX REFORM AND REVENUE RECOGNITION STANDARD; 09/05/2018 – Verizon Presenting at Conference May 14; 20/04/2018 – VZ: HAVE DIFFERENCE OF OPINION W/PHONE EQUIPMENT MANUFACTURERS; 20/04/2018 – Hartford Courant: AT&T and Verizon are under federal investigation for potential collusion; 20/04/2018 – DOJ said to investigate AT&T, Verizon over wireless collusion claim; 30/05/2018 – New survey from Hum by Verizon suggests 41 percent of drivers struggle to stay focused during the summer more than any other ti; 02/04/2018 – Verizon Communications Inc. CDS Widens 5 Bps, Most in 6 Months

Oldfield Partners Llp increased its stake in Citigroup Inc (C) by 0.59% based on its latest 2018Q4 regulatory filing with the SEC. Oldfield Partners Llp bought 6,400 shares as the company’s stock declined 2.79% while stock markets rallied. The institutional investor held 1.09 million shares of the major banks company at the end of 2018Q4, valued at $568.61M, up from 1.09M at the end of the previous reported quarter. Oldfield Partners Llp who had been investing in Citigroup Inc for a number of months, seems to be bullish on the $154.03B market cap company. The stock decreased 2.36% or $1.61 during the last trading session, reaching $66.61. About 6.47M shares traded. Citigroup Inc. (NYSE:C) has declined 13.45% since May 9, 2018 and is downtrending. It has underperformed by 17.82% the S&P500. Some Historical C News: 27/03/2018 – ROKU INC ROKU.O : CITIGROUP RAISES TARGET PRICE TO $36 FROM $33; 14/05/2018 – Deutsche Bank Fintech Banker Rahul Singla Said to Join Citigroup; 21/05/2018 – Citi Retail And Sears To Extend Co-brand, Private Label Credit Card Agreement — MarketWatch; 27/03/2018 – ROLLS-ROYCE HOLDINGS PLC RR.L : CITIGROUP RAISES TARGET PRICE TO 1083P; 05/04/2018 – CITI UPGRADES UK EQUITIES TO “OVERWEIGHT” CITING “RECENT UNDERPERFORMANCE AND CHEAP VALUATIONS”; 30/04/2018 – Latin Bond Sales Drop 8% in 2018, Citi Leads; 04/05/2018 – MONDI PLC MNDI.L : CITIGROUP SAYS CO REMAINS TOP PICK IN PAPER PRODUCTS, PAPER & FOREST PRODUCTS; 09/04/2018 – Ghana Lenders Seek Extended Capital Demand Deadline, Says Citi; 06/03/2018 – PSA PEUP.PA : CITIGROUP RAISES RATING ON PSA PEUP.PA TO NEUTRAL VS SELL; 14/05/2018 – Oasis Petroleum Presenting at Citigroup Conference Tomorrow

Investors sentiment decreased to 1.18 in Q4 2018. Its down 0.12, from 1.3 in 2018Q3. It dropped, as 59 investors sold VZ shares while 611 reduced holdings. 149 funds opened positions while 641 raised stakes. 2.67 billion shares or 4.15% more from 2.57 billion shares in 2018Q3 were reported. Old Dominion Capital Mngmt Incorporated holds 1.75% or 86,021 shares. 10 has 606,326 shares for 8.34% of their portfolio. 42,241 were reported by Institute For Wealth Mngmt Ltd Liability Com. Moreover, Diversified Trust Co has 0.1% invested in Verizon Communications Inc. (NYSE:VZ). Westport Asset Mngmt has 862 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0.98% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 1.74M shares. Gilman Hill Asset Management Ltd Liability holds 2.38% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 100,672 shares. Acadian Asset Mngmt Ltd Liability Corporation accumulated 2.79 million shares. Tradition Capital Mgmt Lc invested in 36,736 shares. Soros Fund Management Ltd Liability Company holds 1.04% in Verizon Communications Inc. (NYSE:VZ) or 612,315 shares. Haverford Tru has invested 0.85% in Verizon Communications Inc. (NYSE:VZ). Principal Fin Gp Inc owns 10.16 million shares or 0.61% of their US portfolio. Eastern Commercial Bank owns 1.83% invested in Verizon Communications Inc. (NYSE:VZ) for 435,373 shares. 21,623 were reported by Quantum Capital. Tirschwell And Loewy Inc reported 42,588 shares.

Folger Nolan Fleming Douglas Capital Management Inc, which manages about $721.63 million and $608.59 million US Long portfolio, decreased its stake in General Electric Company (NYSE:GE) by 97,064 shares to 239,222 shares, valued at $1.81M in 2018Q4, according to the filing.

More notable recent Verizon Communications Inc. (NYSE:VZ) news were published by: Investorplace.com which released: “5 Best Telecom Stocks to Consider Buying Now – Investorplace.com” on April 30, 2019, also Seekingalpha.com with their article: “Verizon Discusses 5G (Podcast) – Seeking Alpha” published on April 29, 2019, Globenewswire.com published: “Verizon announces tender offers for 15 series of notes – GlobeNewswire” on April 16, 2019. More interesting news about Verizon Communications Inc. (NYSE:VZ) were released by: Fool.com and their article: “AT&T Has the Largest 5G Network in the Country — but You Probably Can’t Use It – The Motley Fool” published on April 13, 2019 as well as Seekingalpha.com‘s news article titled: “Verizon beats Q1 profit estimates – Seeking Alpha” with publication date: April 23, 2019.

Oldfield Partners Llp, which manages about $6.57 billion and $1.83B US Long portfolio, decreased its stake in General Motors Co (NYSE:GM) by 24,600 shares to 1.94M shares, valued at $64.97 million in 2018Q4, according to the filing. It also reduced its holding in Barrick Gold Corp (NYSE:ABX) by 25,000 shares in the quarter, leaving it with 5.61 million shares, and cut its stake in Embraer Sa (NYSE:ERJ).

More notable recent Citigroup Inc. (NYSE:C) news were published by: Benzinga.com which released: “Citigroup Inc. (NYSE:C), J P Morgan Chase & Co (NYSE:JPM) – Challenges Stack Up As JP Morgan, Wells Fargo, Citigroup Prepare To Report – Benzinga” on April 11, 2019, also Fool.com with their article: “What Happened in the Stock Market Today – The Motley Fool” published on April 15, 2019, Investorplace.com published: “3 Scorching Hot Bank Stocks to Consider Now – Investorplace.com” on April 29, 2019. More interesting news about Citigroup Inc. (NYSE:C) were released by: 247Wallst.com and their article: “Big Banks in the Spotlight as Earnings Season Rolls Out – 24/7 Wall St.” published on April 14, 2019 as well as Seekingalpha.com‘s news article titled: “Citigroup: Undervalued And Moving In The Right Direction – Seeking Alpha” with publication date: April 30, 2019.

Since February 13, 2019, it had 0 buys, and 2 sales for $791,051 activity. Whitaker Michael sold $442,708 worth of Citigroup Inc. (NYSE:C) on Wednesday, February 13.

Investors sentiment decreased to 0.66 in Q4 2018. Its down 0.36, from 1.02 in 2018Q3. It dived, as 130 investors sold C shares while 533 reduced holdings. 112 funds opened positions while 325 raised stakes. 1.78 billion shares or 0.99% less from 1.80 billion shares in 2018Q3 were reported. Mackenzie Financial has invested 0.55% in Citigroup Inc. (NYSE:C). Bluemountain Mgmt Ltd Llc owns 0.06% invested in Citigroup Inc. (NYSE:C) for 38,026 shares. Nuwave Lc invested in 89 shares. Front Barnett Associate Lc invested 1.27% of its portfolio in Citigroup Inc. (NYSE:C). Bokf Na accumulated 0.09% or 59,429 shares. Pub Sector Pension Board reported 1.06 million shares or 0.47% of all its holdings. Capstone Inv Advsr Ltd Limited Liability Company invested in 128,376 shares. Masters Management Ltd Liability Company holds 2.27% in Citigroup Inc. (NYSE:C) or 800,000 shares. Kentucky Retirement, a Kentucky-based fund reported 106,229 shares. Pictet North America Advsrs reported 0.14% stake. California Employees Retirement has 5.98 million shares for 0.44% of their portfolio. Investec Asset Limited has 2.15% invested in Citigroup Inc. (NYSE:C) for 9.58M shares. Ibm Retirement Fund owns 40,616 shares. Cibc Asset reported 261,811 shares. State Of New Jersey Common Pension Fund D owns 3.05 million shares.

Verizon Communications Inc. (NYSE:VZ) Institutional Positions Chart

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GTY Technology (GTYH) Raised to Buy at ValuEngine

Finally, Acadian Asset Management LLC purchased a new stake in shares of GTY Technology during the 1st quarter valued at approximately $75,000.

GTY Technology logoGTY Technology (NASDAQ:GTYH) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday, ValuEngine reports.

GTYH traded up $0.17 during trading on Thursday, reaching $9.72. The company’s stock had a trading volume of 34,700 shares, compared to its average volume of 97,038. GTY Technology has a 1 year low of $8.01 and a 1 year high of $12.24.

In other GTY Technology news, major shareholder Glazer Capital, Llc sold 2,393,234 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $10.29, for a total value of $24,626,377.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 20.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. raised its position in shares of GTY Technology by 635.3% during the 4th quarter. Citigroup Inc. now owns 477,974 shares of the company’s stock valued at $4,756,000 after buying an additional 412,974 shares during the period. Mizuho Securities USA LLC raised its position in shares of GTY Technology by 6.1% during the 4th quarter. Mizuho Securities USA LLC now owns 451,057 shares of the company’s stock valued at $4,488,000 after buying an additional 26,057 shares during the period. Keeley Teton Advisors LLC purchased a new stake in shares of GTY Technology during the 1st quarter valued at approximately $5,365,000. Stifel Financial Corp purchased a new stake in shares of GTY Technology during the 4th quarter valued at approximately $779,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of GTY Technology during the 1st quarter valued at approximately $75,000. 36.77% of the stock is currently owned by institutional investors and hedge funds.

GTY Technology Company Profile

GTY Technology Holdings, Inc is blank check company. The company currently does not have any operations. GTY Technology Holdings was founded on August 11, 2016 and is headquartered in Las Vegas, NV.

Featured Article: Overbought

To view ValuEngine’s full report, visit ValuEngine’s official website.

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Westwood Holdings Group (WHG) Hits New 1-Year Low at $30.02

Two Sigma Investments LP grew its stake in Westwood Holdings Group by 961.9% in the 4th quarter. Two Sigma Investments LP now owns 56,930 …

Westwood Holdings Group logoShares of Westwood Holdings Group, Inc. (NYSE:WHG) reached a new 52-week low on Thursday . The company traded as low as $30.02 and last traded at $30.18, with a volume of 58005 shares. The stock had previously closed at $31.18.

The firm has a market capitalization of $283.94 million, a price-to-earnings ratio of 12.71 and a beta of 1.30.

Westwood Holdings Group (NYSE:WHG) last released its quarterly earnings results on Wednesday, February 6th. The asset manager reported $0.70 EPS for the quarter. Westwood Holdings Group had a net margin of 17.02% and a return on equity of 13.10%. The business had revenue of $26.12 million during the quarter.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $2.88 dividend on an annualized basis and a yield of 9.56%.

Hedge funds have recently added to or reduced their stakes in the business. Two Sigma Investments LP grew its stake in Westwood Holdings Group by 961.9% in the 4th quarter. Two Sigma Investments LP now owns 56,930 shares of the asset manager’s stock worth $1,936,000 after buying an additional 51,569 shares in the last quarter. First Trust Advisors LP grew its stake in Westwood Holdings Group by 18.6% in the 4th quarter. First Trust Advisors LP now owns 14,631 shares of the asset manager’s stock worth $497,000 after buying an additional 2,291 shares in the last quarter. Deprince Race & Zollo Inc. grew its stake in Westwood Holdings Group by 16.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 124,429 shares of the asset manager’s stock worth $4,231,000 after buying an additional 17,775 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Westwood Holdings Group by 1.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 563,191 shares of the asset manager’s stock worth $19,148,000 after buying an additional 5,900 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Westwood Holdings Group by 6.4% in the 4th quarter. California Public Employees Retirement System now owns 15,666 shares of the asset manager’s stock worth $533,000 after buying an additional 948 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

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Westwood Holdings Group Company Profile (NYSE:WHG)

Westwood Holdings Group, Inc, through its subsidiaries, manages investment assets and provides services for its clients. The company operates in two segments, Advisory and Trust. The Advisory segment provides investment advisory services to corporate retirement plans, public retirement plans, endowments, foundations, individuals, and the Westwood Funds; and investment sub-advisory services to mutual funds, pooled investment vehicles, and its Trust segment.

See Also: Understanding Market Liquidity

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$38.10 Million in Sales Expected for First Financial Corp (THFF) This Quarter

Acadian Asset Management LLC grew its stake in shares of First Financial by 77.8% during the 1st quarter. Acadian Asset Management LLC now …

First Financial logoEquities research analysts forecast that First Financial Corp (NASDAQ:THFF) will post $38.10 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for First Financial’s earnings. The lowest sales estimate is $37.80 million and the highest is $38.40 million. First Financial posted sales of $43.65 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 12.7%. The firm is scheduled to report its next quarterly earnings results on Tuesday, July 23rd.

According to Zacks, analysts expect that First Financial will report full year sales of $172.95 million for the current financial year, with estimates ranging from $171.20 million to $174.70 million. For the next fiscal year, analysts forecast that the company will post sales of $196.60 million, with estimates ranging from $194.20 million to $199.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover First Financial.

First Financial (NASDAQ:THFF) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.79 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.03). The business had revenue of $37.06 million during the quarter, compared to analysts’ expectations of $36.90 million. First Financial had a net margin of 28.30% and a return on equity of 11.00%.

A number of research analysts have recently weighed in on THFF shares. ValuEngine cut shares of First Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, January 9th. Zacks Investment Research cut shares of First Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Finally, BidaskClub raised shares of First Financial from a “sell” rating to a “hold” rating in a research note on Friday, February 15th.

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its stake in shares of First Financial by 77.8% during the 1st quarter. Acadian Asset Management LLC now owns 41,558 shares of the bank’s stock valued at $1,746,000 after buying an additional 18,191 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of First Financial by 17.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 41,633 shares of the bank’s stock valued at $1,749,000 after buying an additional 6,138 shares during the period. Martingale Asset Management L P grew its stake in shares of First Financial by 14.5% during the 1st quarter. Martingale Asset Management L P now owns 78,274 shares of the bank’s stock valued at $3,289,000 after buying an additional 9,905 shares during the period. JPMorgan Chase & Co. grew its stake in shares of First Financial by 97.9% during the 1st quarter. JPMorgan Chase & Co. now owns 95,722 shares of the bank’s stock valued at $4,021,000 after buying an additional 47,358 shares during the period. Finally, LSV Asset Management grew its stake in shares of First Financial by 3.1% during the 1st quarter. LSV Asset Management now owns 147,098 shares of the bank’s stock valued at $6,178,000 after buying an additional 4,444 shares during the period. 57.73% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:THFF traded up $0.28 during mid-day trading on Friday, reaching $41.01. The stock had a trading volume of 25,392 shares, compared to its average volume of 42,267. The company has a market cap of $513.13 million, a P/E ratio of 10.79 and a beta of 0.89. First Financial has a twelve month low of $37.41 and a twelve month high of $53.05.

First Financial Company Profile

First Financial Corporation, through its subsidiaries, provides various financial services. It offers non-interest-bearing demand, interest-bearing demand, savings, time, and other time deposits. The company also provides commercial loans primarily to expand a business or finance asset purchases; residential real estate and residential real estate construction loans; and home equity loans and lines, secured loans, and cash/CD secured and unsecured loans.

Further Reading: What is the price-sales ratio?

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Earnings History and Estimates for First Financial (NASDAQ:THFF)

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Advisor Group to sell for more than $2B in year’s biggest deal yet

… bank and non-bank finance, insurance, capital markets, asset management, wealth management, financial technology and services and payments.

Another private equity firm is crowding into the independent broker-dealer sector — paying more than $2 billion to buy Advisor Group. The acquisition is poised to be the largest M&A deal of the year across wealth management so far, according to data analyzed by Financial Planning.

Reverence Capital Partners’ affiliated funds will purchase a 75% stake in the four-IBD, 6,500-advisor network from fellow PE firm Lightyear Capital and the Public Sector Pension Investment Board of Canada, the parties announced May 9. The selling firms bought Advisor Group from AIG in 2016 for an undisclosed amount.

Advisor Group 2018 revenue

The sellers and all other current shareholders will retain up to a 25% position in the IBD network under the deal, expected to close in the third quarter, according to the firms. They didn’t disclose financial terms of the deal, but a person familiar with the discussions said the price tag amounted to between $2.1 billion and $2.4 billion.

Goldman Sachs alums Milton Berlinski, Peter Aberg and Alex Chulack launched Reverence in 2013 with a focus on financial services. While Advisor Group would be its first IBD investment, its past and current portfolio firms include Russell Investments, Victory Capital and First Republic.

“Advisor Group is one of the premier wealth management platforms in the U.S. and together with Reverence Capital’s investment, wealth management expertise and industry relationships, the company is uniquely positioned to identify and tackle growth opportunities across the business,” Berlinski said in a statement.

Advisor Group Executive Chairwoman Valerie Brown will remain an investor but retire from the executive role under the deal, according to the company’s news release. CEO Jamie Price will continue serving in his current position.

The parties also plan to set up an advisor recognition and retention program. The firm will reveal more details about the program between the signing of the definitive agreement and the deal’s close.

“Winning in our book is our ability to continue to make significant investments in our business to give our advisors the technology, service and products they need to serve their clients in this fiduciary era and position their businesses for long-term success and growth,” Price said in a statement. “This transaction, which aligns Advisor Group with well-resourced financial partners, accomplishes just that, to the benefit of the financial advisors we’re privileged to serve.”

Private equity firms have helped fuel a record number of M&A transactions across wealth management for six straight years. The IBD sector in particular is gaining several new PE firm entrants willing to pay impressive sums for their footholds.

Global PE firm Warburg Pincus agreed earlier this year to buy a majority stake in Kestra Financial, with the deal reportedly valued at as much as $800 million. Genstar Capital paid $1.7 billion to buy its majority position in Cetera Financial Group in 2018, Bloomberg reported at the time.

Centerbridge Partners — another PE firm — came close to purchasing Advisor Group, according to a Bloomberg report last month. Earlier reports near the beginning of the year had also named Cetera Financial Group parent Genstar Capital as a potential suitor.

The ultimate winning bidder, Reverence’s website describes the firm as specializing in “thematic investing in leading global, middle-market financial services businesses through control and influence oriented investments.”

The firm also identifies several sectors as its main target for investments: bank and non-bank finance, insurance, capital markets, asset management, wealth management, financial technology and services and payments.

Advisor Group boosted its revenue by 21% to $1.7 billion in 2018 on the strength of three M&A deals, including the tuck-in purchase of John Hancock’s Signator Investors into Royal Alliance Associates. FSC Securities, SagePoint Financial and Woodbury Financial Services are its other IBD subsidiaries.

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