Vanguard to Take Tougher Stance Against Overextended Board Members

Vanguard Group is taking a tougher stance against companies whose board members it believes are stretched too thin. The world’s second-largest …

Vanguard Group is taking a tougher stance against companies whose board members it believes are stretched too thin.

The world’s second-largest asset manager plans to vote, in most cases, against corporate executives running for two or more public-company board seats beyond where they are employed, a Vanguard spokeswoman said. Vanguard said it would generally vote against other board candidates seeking more than four board seats at one time.

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401(k) lawsuit over Vanguard fees ends with $23.7 million settlement

… who claimed its 401(k) retirement plan had excessive fees even though its provider was the Vanguard Group, has settled the case for $23.7 million.

Health insurer Anthem Inc., sued by employees who claimed its 401(k) retirement plan had excessive fees even though its provider was the Vanguard Group, has settled the case for $23.7 million.

The lawsuit was originally filed in December 2015 by Jerome Schlichter, the attorney representing plaintiffs who brought the original tranche of excessive-fee lawsuits against 401(k) plan sponsors more than a decade ago.

Anthem’s $7 billion 401(k) plan had 11 Vanguard mutual funds and a suite of Vanguard target-date collective investment trust funds, in addition to an Anthem common stock fund and two non-Vanguard mutual funds.

In addition to paying too much for record-keeping services, plaintiffs alleged plan participants paid “far higher” investment fees than they should have since there were lower-cost share classes and investment vehicles available for the funds.

The lawsuit surprised advisers since Vanguard is widely seen as a low-cost fund provider.

Anthem, which denied the allegations, settled for $23.65 million, according to a court document filed Monday in the U.S. District Court for the Southern District of Indiana. The plan sponsor will also have to hire an investment consultant to review the plan’s investment lineup, and conduct a record-keeper search to determine whether to keep Vanguard.

An Anthem spokeswoman declined comment on the settlement.

“We’re pleased that Anthem employees and retirees will receive not only compensation for their past losses, but also will have an improved plan going forward to enable them to build their retirement assets,” said Mr. Schlichter, a founder and managing partner of Schlichter Bogard & Denton.

Mr. Schlichter won a $55 million settlement in the lawsuit Tussey v. ABB, which dates to 2006, at the end of March. His largest settlement was in 2015, for $62 million, in a case against Lockheed Martin Corp.

401(k) fee cases have proliferated over the past decade, and expanded to cover financial services firms as well as nonprofit employers sponsoring 403(b) plans.

The case is titled Bell v. Pension Committee of ATH Holding Co. LLC.

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Traders Buy Vanguard S&P 500 ETF (VOO) on Weakness

Vanguard Group Inc. lifted its stake in shares of Vanguard S&P 500 ETF by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 8,012,666 shares …

Vanguard S&P 500 ETF logoTraders purchased shares of Vanguard S&P 500 ETF (NYSEARCA:VOO) on weakness during trading on Tuesday. $134.86 million flowed into the stock on the tick-up and $110.77 million flowed out of the stock on the tick-down, for a money net flow of $24.09 million into the stock. Of all stocks tracked, Vanguard S&P 500 ETF had the 29th highest net in-flow for the day. Vanguard S&P 500 ETF traded down ($1.41) for the day and closed at $263.83

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 22nd were given a $1.4551 dividend. The ex-dividend date was Thursday, March 21st. This represents a $5.82 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from Vanguard S&P 500 ETF’s previous quarterly dividend of $1.29.

Large investors have recently bought and sold shares of the company. Raymond James & Associates boosted its position in Vanguard S&P 500 ETF by 3.2% during the fourth quarter. Raymond James & Associates now owns 12,177,642 shares of the company’s stock valued at $2,798,553,000 after acquiring an additional 375,705 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Vanguard S&P 500 ETF by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 8,012,666 shares of the company’s stock valued at $2,139,782,000 after purchasing an additional 444,481 shares during the period. Vanguard Group Inc lifted its stake in shares of Vanguard S&P 500 ETF by 5.9% in the 3rd quarter. Vanguard Group Inc now owns 8,012,666 shares of the company’s stock valued at $2,139,782,000 after purchasing an additional 444,481 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Vanguard S&P 500 ETF by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,144,673 shares of the company’s stock valued at $1,907,984,000 after purchasing an additional 232,674 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Vanguard S&P 500 ETF by 4.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 6,748,188 shares of the company’s stock valued at $1,802,104,000 after purchasing an additional 266,680 shares in the last quarter.

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Vanguard S&P 500 ETF Company Profile (NYSEARCA:VOO)

Vanguard 500 Index Fund (the Fund) is an open-end investment company, or mutual fund. The Fund offers four classes of shares: Investor Shares, Admiral Shares, Signal Shares, and Exchange Traded Fund (ETF) Shares. The Fund seeks to track the investment performance of the Standard & Poor’s 500 Index, an unmanaged benchmark representing the United States large-capitalization stocks.

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FC Advisory LLC Sells 524 Shares of Vanguard Small-Cap Growth ETF (VBK)

Vanguard Group Inc lifted its holdings in shares of Vanguard Small-Cap Growth ETF by 0.3% in the third quarter. Vanguard Group Inc now owns …

Vanguard Small-Cap Growth ETF logoFC Advisory LLC decreased its position in shares of Vanguard Small-Cap Growth ETF (NYSEARCA:VBK) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,170 shares of the company’s stock after selling 524 shares during the quarter. Vanguard Small-Cap Growth ETF makes up about 3.7% of FC Advisory LLC’s portfolio, making the stock its 10th biggest holding. FC Advisory LLC owned approximately 0.07% of Vanguard Small-Cap Growth ETF worth $5,782,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in shares of Vanguard Small-Cap Growth ETF by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 415,362 shares of the company’s stock worth $77,805,000 after buying an additional 3,347 shares during the period. Vanguard Group Inc lifted its holdings in shares of Vanguard Small-Cap Growth ETF by 0.3% in the third quarter. Vanguard Group Inc now owns 408,975 shares of the company’s stock valued at $76,609,000 after purchasing an additional 1,125 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Vanguard Small-Cap Growth ETF by 0.3% in the third quarter. Vanguard Group Inc. now owns 408,975 shares of the company’s stock valued at $76,609,000 after purchasing an additional 1,125 shares during the last quarter. LPL Financial LLC increased its stake in shares of Vanguard Small-Cap Growth ETF by 8.6% during the 3rd quarter. LPL Financial LLC now owns 331,989 shares of the company’s stock worth $62,188,000 after purchasing an additional 26,222 shares in the last quarter. Finally, American Financial Advisors LLC purchased a new position in shares of Vanguard Small-Cap Growth ETF during the 4th quarter worth approximately $24,784,000.

Shares of Vanguard Small-Cap Growth ETF stock traded down $0.47 during trading on Monday, hitting $183.39. 1,961 shares of the company were exchanged, compared to its average volume of 197,846. Vanguard Small-Cap Growth ETF has a fifty-two week low of $139.95 and a fifty-two week high of $190.49.

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 29th were issued a dividend of $0.2418 per share. This represents a $0.97 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, March 28th.

ILLEGAL ACTIVITY WARNING: This news story was first published by Highlight Press and is the property of of Highlight Press. If you are viewing this news story on another website, it was stolen and reposted in violation of United States & international trademark & copyright law. The original version of this news story can be accessed at https://highlightpress.com/2019/04/08/fc-advisory-llc-sells-524-shares-of-vanguard-small-cap-growth-etf-vbk.html.

Vanguard Small-Cap Growth ETF Profile

Vanguard Small-Cap Growth ETF (the Fund) is an exchange-traded share class of Vanguard Small-Cap Growth Index Fund, which employs a passive management or indexing investment approach designed to track the performance of the MSCI US Small Cap Growth Index (the Index). The Index is a diversified index of growth stocks of smaller United States companies.

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Want to see what other hedge funds are holding VBK?Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vanguard Small-Cap Growth ETF (NYSEARCA:VBK).

Institutional Ownership by Quarter for Vanguard Small-Cap Growth ETF (NYSEARCA:VBK)

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VANGUARD CHARLO/TOTAL INTL BD ETF (BMV:BNDX) Shares Sold by Raymond James …

Vanguard Group Inc boosted its stake in shares of VANGUARD CHARLO/TOTAL INTL BD ETF by 20.1% during the 3rd quarter. Vanguard Group Inc …

VANGUARD CHARLO/TOTAL INTL BD ETF logoRaymond James & Associates decreased its position in VANGUARD CHARLO/TOTAL INTL BD ETF (BMV:BNDX) by 12.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 115,324 shares of the company’s stock after selling 17,059 shares during the period. Raymond James & Associates’ holdings in VANGUARD CHARLO/TOTAL INTL BD ETF were worth $6,256,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group grew its holdings in VANGUARD CHARLO/TOTAL INTL BD ETF by 4,146.3% during the third quarter. Rehmann Capital Advisory Group now owns 8,723,487 shares of the company’s stock worth $159,946,000 after purchasing an additional 8,518,051 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of VANGUARD CHARLO/TOTAL INTL BD ETF by 16.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,628,840 shares of the company’s stock worth $1,561,417,000 after acquiring an additional 3,985,142 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of VANGUARD CHARLO/TOTAL INTL BD ETF by 5.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 22,222,333 shares of the company’s stock worth $1,212,006,000 after acquiring an additional 1,132,430 shares during the period. Vanguard Group Inc boosted its stake in shares of VANGUARD CHARLO/TOTAL INTL BD ETF by 20.1% during the 3rd quarter. Vanguard Group Inc now owns 2,605,097 shares of the company’s stock worth $142,082,000 after acquiring an additional 435,707 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of VANGUARD CHARLO/TOTAL INTL BD ETF by 20.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,605,097 shares of the company’s stock worth $142,082,000 after acquiring an additional 435,707 shares during the last quarter.

VANGUARD CHARLO/TOTAL INTL BD ETF has a 52 week low of $960.00 and a 52 week high of $1,056.00.

The company also recently announced a monthly dividend, which was paid on Thursday, April 4th. Stockholders of record on Tuesday, April 2nd were issued a dividend of $0.053 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of ∞. The ex-dividend date of this dividend was Monday, April 1st.

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Institutional Ownership by Quarter for VANGUARD CHARLO/TOTAL INTL BD ETF (BMV:BNDX)

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