Bill Nygren (Trades, Portfolio) is portfolio manager of the Oakmark Fund, the Oakmark Select Fund and the Oakmark Global Select Fund. During the fourth quarter the guru sold shares in the following stocks:
He closed his stake in Principal Financial Group Inc. (PFG) with an impact of -2.02% on the portfolio.
The company offers retirement services, insurance solutions and asset management services. It provides financial products and services through the financial services companies to businesses, individuals and institutional clients. During the fourth quarter net income grew 25% from the same quarter of a year before, and operating earnings increased 23%.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10. The return on equity (ROE) of 12.94%, and return on assets (ROA) of 0.59% are outperforming 50% of the companies in the Global Insurance - Life industry. Financial strength has a rating of 5 out of 10. The cash to debt of 0.86 is below the industry median of 8.67.
Another notable shareholder among the gurus is Mairs and Power (Trades, Portfolio) with 0.96% of outstanding shares followed by Manning & Napier Advisors Inc. with 0.01%.
The guru reduced his shares in Bank of America Corp. (BAC) by 34.06% with an impact of -1.23% on the portfolio.
It is a bank holding and a financial holding company. Through its subsidiaries, it provides banking and nonbanking financial services and products throughout the U.S. and in selected international markets. Fourth quarter net interest income increased 6%, but noninterest income decreased 2%.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10. The ROE of 5.62% and ROA of 0.76% are underperforming 71% of the companies in the Global Banks – Global industry. Financial strength has a rating of 6 out of 10. The cash to debt of 0.66 is below the industry median of 1.88.
Dodge & Cox is the largest shareholder among the gurus with 1.88% of outstanding shares followed by Barrow, Hanley, Mewhinney & Strauss with 0.72%, Ken Fisher (Trades, Portfolio) with 0.36%, HOTCHKIS & WILEY with 0.35%, Nygren with 0.33%, First Pacific Advisors (Trades, Portfolio) with 0.27% and Steven Romick (Trades, Portfolio) with 0.25%.
The investor exited his stake in T. Rowe Price Group Inc. (TROW). The trade had an impact of -0.76% on the portfolio.
It is a financial services holding company. It provides investment advisory services to individual and institutional investors in the sponsored T. Rowe Price mutual funds and other investment portfolios. During the fourth quarter net revenues increased 3.7%, and net operating income grew 23.8%. GAAP diluted earnings per share increased 28.2%, and adjusted diluted earnings per shares grew 13.1%.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10. The ROE of 24.21% and ROA of 19.42% are outperforming 89% of the companies in the Global Asset Management industry. Financial strength has a rating of 9 out of 10 with no debt.
The largest shareholder among the gurus is Mason Hawkins (Trades, Portfolio) with 1.45% of outstanding shares followed by Jeremy Grantham (Trades, Portfolio) with 0.17%, Tom Gayner (Trades, Portfolio) with 0.13%, John Rogers (Trades, Portfolio) with 0.12%, Ron Baron (Trades, Portfolio) with 0.11%, Fisher with 0.08%, Mario Gabelli (Trades, Portfolio) with 0.07% and Ray Dalio (Trades, Portfolio) with 0.05%.
The guru reduced his position in Goldman Sachs Group Inc. (GS) by 35.19% with an impact of -0.69% on the portfolio.
The company is an investment banking, securities and investment management firm. Its segments include Investment Banking, Trading and Principal Investments, Asset Management and Securities Services.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. While the ROE of 8.16% is outperforming the sector, the ROA of 0.85% is underperforming 56% of the companies in the Global Capital Markets industry. Financial strength has a rating of 5 out of 10 with a cash to debt of 0.49.
Dodge & Cox is the largest shareholder among the gurus with 3.56% of outstanding shares followed by Warren Buffett (Trades, Portfolio) with 2.75%, Fisher with 0.49%, Richard Pzena (Trades, Portfolio) with 0.37%, HOTCHKIS & WILEY with 0.27% and Pioneer Investments (Trades, Portfolio) with 0.24%.
Nygren reduced his shares in Microsoft Corp. (MSFT) by 25.05% with an impact of -0.54% on the portfolio.
The company is engaged in designing, manufacturing, selling devices and online advertising. Its products include operating systems for computing devices, servers, phones and other devices.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 23.11% and ROA of 8.44% are outperforming 75% of the companies in the Global Software – Infrastructure industry. Financial strength has a rating of 6 out of 10 with cash to debt of 1.45 that is below the industry median of 7.61.
The largest shareholder among the gurus is PRIMECAP Management (Trades, Portfolio) with 0.69% of outstanding shares followed by Dodge & Cox with 0.55%, Jeff Ubben (Trades, Portfolio) with 0.5%, First Eagle Investment (Trades, Portfolio) with 0.31%, Andreas Halvorsen (Trades, Portfolio) with 0.28%, Barrow, Hanley, Mewhinney & Strauss with 0.24%, Fisher with 0.24% and Pioneer Investments with 0.21%.
The investor reduced his holding in JPMorgan Chase & Co. (JPM) by 16.35%; the trade had an impact of -0.48% on the portfolio.
The company is a financial services firm and a banking institution. Its segments are Consumer and Community Banking, Corporate and Investment Bank, Commercial Banking and Asset Management. Fourth quarter net income was $6.7 billion compared to $400 million in the same quarter of a year before, and it returned $3.8 billion to shareholders.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 9.17% and ROA of 1.01% are outperforming 56% of the companies in the Global Banks – Global industry. Financial strength has a rating of 6 out of 10. The cash to debt of 11.31 is above the industry median of 1.88.
The largest shareholder among the gurus is Dodge & Cox with 0.75% of outstanding shares followed by PRIMECAP Management with 0.66%, Barrow, Hanley, Mewhinney & Strauss with 0.62%, Chris Davis (Trades, Portfolio) with 0.47%, Fisher with 0.39% and T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.29%.
The guru closed his stake in Applied Materials Inc. (AMAT) with an impact of -0.38% on the portfolio.
The company provides manufacturing equipment, services and software to the semiconductor, flat panel display, solar photovoltaic and related industries. First-quarter gross margin was 44.1%, up 3.5 points year over year, and operating margin grew 8.9 points year over year. Diluted earnings per share (EPS) grew by 160% from the same quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10. The ROE of 30.15% and ROA of 15.29% are outperforming 93% of the companies in the Global Semiconductor Equipment and Materials industry. Financial strength has a rating of 7 out of 10, and cash to debt of 1.25 is below the industry median of 1.66.
The largest shareholder among the gurus is T Rowe Price Equity Income Fund with 1.04% of outstanding shares followed by PRIMECAP Management with 0.55%, Steven Cohen (Trades, Portfolio) with 0.29%, Jim Simons (Trades, Portfolio) with 0.25%, Joel Greenblatt (Trades, Portfolio) with 0.13%, Ken Heebner (Trades, Portfolio) with 0.13%, Jerome Dodson (Trades, Portfolio) with 0.13% and Davis with 0.07%.
The investor reduced his position in Cummins Inc. (CMI) by 14.71% with an impact of -0.37% on the portfolio.
The company designs, manufactures, distributes and services diesel and natural gas engines, electric power generation systems and engine-related component products. During the fourth quarter revenues decreased 6%, and net income was $378 million, or $2.25 per diluted share, compared to $161 million, or 92 cents per diluted share, a year ago.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 19.92% and ROA of 9.28% are outperforming 87% of the companies in the Global Diversified Industrials industry. Financial strength has a rating of 7 out of 10. The cash to debt of 0.74 is above the industry median of 0.97.
The largest shareholder among the gurus is HOTCHKIS & WILEY with 2.26% of outstanding shares followed by First Eagle Investment with 1.14%, T Rowe Price Equity Income Fund with 0.64%, Greenblatt with 0.16%, Cohen with 0.09% and Paul Tudor Jones (Trades, Portfolio) with 0.03%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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