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DEPRINCE RACE & ZOLLO INC Buys 3, Sells 2 in 1st Quarter

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May 18, 2022
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DEPRINCE RACE & ZOLLO INC 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.

Deprince Race & Zollo Inc. is a private investment management company based out of Winter Park, Florida. The company operates as a boutique investment firm and was originally established in 1995 by cofounders Victor A. Zollo, Gregory M. DePrince, and John D. Race, all three of whom are still with the company today. Deprince Race & Zollo focuses on a value methodology that emphasizes dividend yield, low long term relative valuation, and fundamental catalyst. The company conducts its research internally and utilizes a bottom up stock selection approach to locate undervalued stocks with a dividend yield. Deprince Race & Zollo invests most heavily in the finance sector, which alone makes up almost a third of its total asset allocations, and the firm also invests in the industrials, energy, consumer discretionary, materials, information technology, and consumer staples sectors, among others to a lesser degree, in order of decreasing allocation. The company has 47 employees with 21 investment professionals and is headed by two of the founders, John D. Race and Victor A. Zollo Jr., who act as the firm’s co-CEOs. Deprince Race & Zollo currently holds approximately $7.9 billion in total assets under management spread across 151 accounts, all of which are discretionary. Although its total number of accounts held has remained around the 150 mark in recent years, its total assets under management has grown significantly, increasing from $3.1 billion to well over twice that amount today. The company caters to a diverse client base including pension and profit sharing plans, its largest clientele group which alone makes up approximately a third of its client base, state or municipal entities, charities, corporations, investment advisors, investment companies, pooled investment vehicles, and others, in order of decreasing clientele. Deprince Race & Zollo currently offers a variety of strategies including its U.S. SMID- Cap Value, Global Value, International Value, Emerging Markets Value, and Alternative strategies.

As of the latest 13F report, the guru’s equity portfolio contained 200 stocks valued at a total of $5,138,000,000. The top holdings were FLS(2.01%), EHC(1.85%), and KLIC(1.62%).

According to GuruFocus data, these were DEPRINCE RACE & ZOLLO INC’s top five trades of the quarter.

Healthcare Services Group Inc


The guru established a new position worth 3,262,817 shares in NAS:HCSG, giving the stock a 1.18% weight in the equity portfolio. Shares traded for an average price of $17.27 during the quarter.

On 05/18/2022, Healthcare Services Group Inc traded for a price of $17.05 per share and a market cap of $1,262,313,000. The stock has returned -40.75% over the past year.

GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Healthcare Services Group Inc has a price-earnings ratio of 38.75, a price-book ratio of 2.83, a EV-to-Ebitda ratio of 18.62 and a price-sales ratio of 0.78.

The price-to-GF Value ratio is 0.77, earning the stock a GF Value rank of 10.

Cabot Corp


DEPRINCE RACE & ZOLLO INC reduced their investment in NYSE:CBT by 742,560 shares. The trade had a 1.06% impact on the equity portfolio. During the quarter, the stock traded for an average price of $66.01.

On 05/18/2022, Cabot Corp traded for a price of $70.58 per share and a market cap of $3,983,090,000. The stock has returned 16.81% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Cabot Corp has a price-earnings ratio of 31.36, a price-book ratio of 4.34, a price-earnings-to-growth (PEG) ratio of 62.72, a EV-to-Ebitda ratio of 11.39 and a price-sales ratio of 1.03.

The price-to-GF Value ratio is 1.15, earning the stock a GF Value rank of 3.

AbbVie Inc


The guru sold out of their 302,336-share investment in NYSE:ABBV. Previously, the stock had a 1.04% weight in the equity portfolio. Shares traded for an average price of $145.09 during the quarter.

On 05/18/2022, AbbVie Inc traded for a price of $152.43 per share and a market cap of $269,360,588,000. The stock has returned 37.05% over the past year.

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

In terms of valuation, AbbVie Inc has a price-earnings ratio of 22.03, a price-book ratio of 16.63, a price-earnings-to-growth (PEG) ratio of 1.54, a EV-to-Ebitda ratio of 13.60 and a price-sales ratio of 4.82.

The price-to-GF Value ratio is 1.19, earning the stock a GF Value rank of 3.

Flowserve Corp


During the quarter, DEPRINCE RACE & ZOLLO INC bought 1,451,705 shares of NYSE:FLS for a total holding of 2,873,231. The trade had a 1.02% impact on the equity portfolio. During the quarter, the stock traded for an average price of $32.67.

On 05/18/2022, Flowserve Corp traded for a price of $30.41 per share and a market cap of $3,972,902,000. The stock has returned -25.68% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Flowserve Corp has a price-earnings ratio of 41.09, a price-book ratio of 2.27, a EV-to-Ebitda ratio of 19.43 and a price-sales ratio of 1.13.

The price-to-GF Value ratio is 0.86, earning the stock a GF Value rank of 7.

Reinsurance Group of America Inc


The guru established a new position worth 464,313 shares in NYSE:RGA, giving the stock a 0.99% weight in the equity portfolio. Shares traded for an average price of $110.83 during the quarter.

On 05/18/2022, Reinsurance Group of America Inc traded for a price of $121.1 per share and a market cap of $8,112,471,000. The stock has returned 0.63% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 6 out of 10.

In terms of valuation, Reinsurance Group of America Inc has a price-earnings ratio of 19.93, a price-book ratio of 0.88, a EV-to-Ebitda ratio of 7.31 and a price-sales ratio of 0.53.

The price-to-GF Value ratio is 1.01, earning the stock a GF Value rank of 5.


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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