Irving Kahn, along with brothers Alan and Thomas, founded Kahn Brothers (Trades, Portfolio) & Company in 1978. The firm manages a portfolio composed of 38 stocks with a total value of $540 million. The following are the most heavily weighted trades during the third quarter.
The firm reduced its stake in New York Community Bancorp Inc. (NYCB) by 9.45% with an impact of 0.9% on the portfolio. The current stake is 9.26% of its total assets.
The stock is trading with a forward P/E ratio of 14.60 and has been as high as $19.18 and as low as $14.26 in the past year. It is currently 15.75% below its 52-week high and 13.32% above its 52-week low.
The company is multi-bank holding company and has two main subsidiaries: New York Community Bank and New York Commercial Bank. During the third quarter, it provided a 0.99% return on average tangible assets and a 13.66% return on average tangible stockholders’ equity.
James Barrow (Trades, Portfolio) is largest shareholder of the company among the gurus with 2.02% of outstanding shares, followed by Jim Simons (Trades, Portfolio) with 0.58% and Pioneer Investments (Trades, Portfolio) with 0.25%.
Kahn Brothers reduced its stake in Old Republic International Corp. (ORI) by 24.15% with an impact of 0.71% on the portfolio. The current stake is 2.45% of its total assets.
It conducts its operations through insurance company subsidiaries organized into three major segments, namely, it's General Insurance Group (property and liability insurance), Title Insurance Group, and the Republic Financial Indemnity Group run-off business.
The stock is trading with a P/E ratio of 13.10 and has been as high as $19.09 and as low as $13.59 in the past year. It is currently just 5.71% below its 52-week high and 32.45% above its 52-week low.
The company’s largest shareholder among the gurus is Lee Ainslie (Trades, Portfolio) with 1.97% of outstanding shares, followed by HOTCHKIS & WILEY with 1.05%, Chuck Royce (Trades, Portfolio) with 0.6% and Charles Brandes (Trades, Portfolio) with 0.42%.
The fund reduced its stake in Pfizer Inc. (PFE) by 5.85% with an impact of 0.59% on the portfolio. The current stake is 9.72% of its total assets.
The stock is trading with a P/E ratio of 24 and the price has been as high as $36.46 and as low as $28.47 in the past year. It is currently 12.26% below its 52-week high and 12.36% above its 52-week low.
The company applies science and its resources to bring therapies to people that extend and improve their lives through the discovery, development and manufacture of healthcare products. During the third quarter, revenue grew by 2% from the same quarter of a year before, and net income grew 20% from the third quarter of 2014.
James Barrow (Trades, Portfolio) is largest shareholder of the company among the gurus with 0.88% of outstanding share,s followed by Dodge & Cox with 0.73%, Ken Fisher (Trades, Portfolio) with 0.52% and T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.2%.
Kahn Brothers reduced its stake in Navient Corp. (NAVI) by 39.15% with an impact of 0.4% on the portfolio.Ă‚
The stock is trading with a P/E ratio of 4.80, and the price has been as high as $22.71 and as low as $10.62 in the past year. It is currently 47.51% below its 52-week high and 12.24% above its 52-week low.
Navient Corp. is engaged in originating, servicing and collecting education loans.
The company’s largest shareholder among the gurus is James Barrow (Trades, Portfolio) with 9.73% of outstanding shares, followed by Leon Cooperman (Trades, Portfolio) with 2.94%, Jim Simons (Trades, Portfolio) with 0.49% and Jeremy Grantham (Trades, Portfolio) with 0.1%.
The fund also reduced its stake in Hologic Inc. (HOLX) by 1.31% and with an impact of 0.11% on the portfolio. The current stake is 9.72% of its total assets.
The stock is trading with a forward P/E ratio of 82.60 and has been as high as $43.00 and as low as $25.60 in the past year. It is currently 10.28% below its 52-week high and 50.70% above its 52-week low.
The company is a developer, manufacturer and supplier of medical imaging systems and diagnostic and surgical products focused on the healthcare needs of women. During the third quarter, revenue had a 9.7% growth year over year, while net income grew by 160.2%.
Carl Icahn (Trades, Portfolio) is largest shareholder of the company among the gurus with 9.95% of outstanding shares, followed by Vanguard Health Care Fund (Trades, Portfolio) with 2.18% and RS Investment Management (Trades, Portfolio) with 0.33%.
