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Top 5 1st Quarter Trades of SYSTEMATIC FINANCIAL MANAGEMENT LP

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May 12, 2022
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SYSTEMATIC FINANCIAL MANAGEMENT LP recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.

The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.

Systematic Financial Management is a private investment management firm that was founded in 1982. The company began with its Free Cash Flow Value methodology and would introduce more strategies beginning in the 1990s. In 1995, Systematic Financial Management would acquire Systematic Financial management and would continue introducing new strategies into the 2000s. Systematic Financial Management currently has over $13 billion in total assets under management spread across 710 accounts, all of which are discretionary accounts. Although its total number of accounts has been on the decline in recent years, its total assets under management has increased significantly from $6.2 billion to over twice that amount today. Systematic Financial Management utilizes a fundamental and quantitative analysis and a bottom up stock picking approach to make its investment decisions, investing with an emphasis on the financial and services sectors, each making up over a fifth of its total investment allocations, and also includes health care, utilities, and basic materials sectors, among others, to a lesser degree. It is currently based out of Teaneck, New Jersey and has addition offices in California and Florida, operating as a subsidiary of Affiliated Managers Group, acting as a sub-advisor to two mutual funds on the AMG Fund platform. Titan Nj Lp Holdings currently has the majority ownership in the company with a controlling hold with the remaining ownership split amongst Eoin Emerson Middaugh, McCreesh Holdings, K. Burgess Holdings, Mushock Holdings, and various key executives and other holding companies. The majority of its clients are individuals, which alone makes up over half of its client base, and also includes pension and profit sharing plans, state or municipal government entities, corporations or other businesses, pooled investment vehicles, investment companies, charities, high net worth individuals, and insurance companies, among others, in order of decreasing clientele. The company’s funds are split amongst Catalyst Value, including its SMID Cap and Small Cap Values, Free Cash Flow Value, including its SMID and Small Cap Value Free Cash Flow, and Disciplined Value, including its Small Cap and International strategies.

As of the latest 13F report, the guru’s equity portfolio contained 251 stocks valued at a total of $3,205,000,000. The top holdings were FCNCA(2.85%), MGY(1.63%), and KBR(1.56%).

According to GuruFocus data, these were SYSTEMATIC FINANCIAL MANAGEMENT LP’s top five trades of the quarter.

Webster Financial Corp


During the quarter, SYSTEMATIC FINANCIAL MANAGEMENT LP bought 404,023 shares of NYSE:WBS for a total holding of 830,725. The trade had a 0.71% impact on the equity portfolio. During the quarter, the stock traded for an average price of $59.45.

On 05/12/2022, Webster Financial Corp traded for a price of $45.69 per share and a market cap of $8,246,450,000. The stock has returned -13.00% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Webster Financial Corp has a price-earnings ratio of 14.95, a price-book ratio of 1.05, a price-earnings-to-growth (PEG) ratio of 2.14 and a price-sales ratio of 3.41.

The price-to-GF Value ratio is 0.68, earning the stock a GF Value rank of 8.

Sterling Bancorp


The guru sold out of their 921,735-share investment in NYSE:STL. Previously, the stock had a 0.7% weight in the equity portfolio. Shares traded for an average price of $28.16 during the quarter.

On 05/12/2022, Sterling Bancorp traded for a price of $26.29 per share and a market cap of $5,059,123,000. The stock has returned 40.51% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Sterling Bancorp has a price-earnings ratio of 13.66, a price-book ratio of 1.09, a price-earnings-to-growth (PEG) ratio of 0.65 and a price-sales ratio of 5.43.

The price-to-GF Value ratio is 1.17, earning the stock a GF Value rank of 3.

Tower Semiconductor Ltd


SYSTEMATIC FINANCIAL MANAGEMENT LP reduced their investment in NAS:TSEM by 381,496 shares. The trade had a 0.45% impact on the equity portfolio. During the quarter, the stock traded for an average price of $42.24.

On 05/12/2022, Tower Semiconductor Ltd traded for a price of $47.07 per share and a market cap of $5,264,745,000. The stock has returned 71.51% over the past year.

GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Tower Semiconductor Ltd has a price-earnings ratio of 34.73, a price-book ratio of 3.21, a EV-to-Ebitda ratio of 10.94 and a price-sales ratio of 3.49.

The price-to-GF Value ratio is 1.54, earning the stock a GF Value rank of 1.

NeoPhotonics Corp


SYSTEMATIC FINANCIAL MANAGEMENT LP reduced their investment in NYSE:NPTN by 960,102 shares. The trade had a 0.44% impact on the equity portfolio. During the quarter, the stock traded for an average price of $15.23.

On 05/12/2022, NeoPhotonics Corp traded for a price of $15.05 per share and a market cap of $807,754,000. The stock has returned 62.91% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 3 out of 10.

In terms of valuation, NeoPhotonics Corp has a price-book ratio of 5.29, a EV-to-Ebitda ratio of -106.02 and a price-sales ratio of 2.48.

The price-to-GF Value ratio is 2.06, earning the stock a GF Value rank of 1.

Foot Locker Inc


The guru sold out of their 332,047-share investment in NYSE:FL. Previously, the stock had a 0.43% weight in the equity portfolio. Shares traded for an average price of $38.37 during the quarter.

On 05/12/2022, Foot Locker Inc traded for a price of $26.82 per share and a market cap of $2,632,163,000. The stock has returned -53.96% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.

In terms of valuation, Foot Locker Inc has a price-earnings ratio of 3.20, a price-book ratio of 0.82, a price-earnings-to-growth (PEG) ratio of 0.41, a EV-to-Ebitda ratio of 3.61 and a price-sales ratio of 0.33.

The price-to-GF Value ratio is 0.55, earning the stock a GF Value rank of 4.


Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.

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