GLENMEDE TRUST CO NA Buys 4, Sells 1 in 1st Quarter

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May 19, 2022
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GLENMEDE TRUST CO NA 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.

The Glenmede Trust Company in an asset management company that acts as a business subsidiary of the Glenmede Corporation. The company can trace its history back to 1956, when the four children of Joseph N. Pew created Glenmede as the corporate trustee for the trust endowed to honor their parents. The original trust, the Pew Memorial Trust, was funded with Sun Oil Co. stocks, which was established by Joseph Pew. In the 1970s, the company would begin diversifying its concentrated stock holdings, striving to create “sophisticated investment strategies to preserve principal, achieve capital appreciation and generate income to meet distribution requirements.” In 1978, the company would officially provide formal service offerings for families, foundations, and endowments. By the 1990s, the company would have expanded outside of its original location in Philadelphia and become a national company. The Glenmede Trust Company currently has over 1,700 clients located throughout the United States with offices in Princeton, Morristown, Wilmington, Cleveland, New York City, and Washington D.C. The company has moved its proprietary equity and fixed income strategies management to its subsidiary, Glenmede Investment Management, which has over $10 billion in total assets under management spread across 3,000 accounts with the majority of its clients being high net worth individuals, the client group alone making up over half of its entire client base. Glenmede Trust Company itself has over $49 billion in total assets under management, maintaining the feel of a small independent company by having a 6 to 1 client to employee ratio and, thusly, reflecting its ideals in providing both “the deep resources of a large, publicly owned firm and the client focus and responsiveness of an independently owned boutique.” The Glenmede Trust Company currently provides its various wealth advisory services, ranging from estate planning to consolidated manager reporting, to institutional investors, public funds, retirement plans, foundations, and endowments.

As of the latest 13F report, the guru’s equity portfolio contained 1331 stocks valued at a total of $20,364,000,000. The top holdings were AAPL(3.94%), MSFT(3.16%), and IJR(2.68%).

According to GuruFocus data, these were GLENMEDE TRUST CO NA’s top five trades of the quarter.

Micron Technology Inc


During the quarter, GLENMEDE TRUST CO NA bought 847,890 shares of NAS:MU for a total holding of 857,231. The trade had a 0.33% impact on the equity portfolio. During the quarter, the stock traded for an average price of $85.53.

On 05/19/2022, Micron Technology Inc traded for a price of $71.3 per share and a market cap of $78,792,014,000. The stock has returned -9.55% over the past year.

GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 9 out of 10.

In terms of valuation, Micron Technology Inc has a price-earnings ratio of 8.88, a price-book ratio of 1.64, a price-earnings-to-growth (PEG) ratio of 0.48, a EV-to-Ebitda ratio of 4.61 and a price-sales ratio of 2.58.

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

Visa Inc


During the quarter, GLENMEDE TRUST CO NA bought 303,699 shares of NYSE:V for a total holding of 512,234. The trade had a 0.33% impact on the equity portfolio. During the quarter, the stock traded for an average price of $216.36.

On 05/19/2022, Visa Inc traded for a price of $197.93 per share and a market cap of $421,308,529,000. The stock has returned -10.70% over the past year.

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

In terms of valuation, Visa Inc has a price-earnings ratio of 30.78, a price-book ratio of 12.78, a price-earnings-to-growth (PEG) ratio of 2.14, a EV-to-Ebitda ratio of 22.18 and a price-sales ratio of 15.75.

The price-to-GF Value ratio is 0.78, earning the stock a GF Value rank of 9.

VMware Inc


GLENMEDE TRUST CO NA reduced their investment in NYSE:VMW by 530,798 shares. The trade had a 0.29% impact on the equity portfolio. During the quarter, the stock traded for an average price of $121.28.

On 05/19/2022, VMware Inc traded for a price of $95 per share and a market cap of $39,678,239,000. The stock has returned -25.47% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 9 out of 10.

In terms of valuation, VMware Inc has a price-earnings ratio of 21.86, a price-earnings-to-growth (PEG) ratio of 1.88, a EV-to-Ebitda ratio of 14.46 and a price-sales ratio of 3.10.

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

Progressive Corp


During the quarter, GLENMEDE TRUST CO NA bought 510,269 shares of NYSE:PGR for a total holding of 1,257,568. The trade had a 0.28% impact on the equity portfolio. During the quarter, the stock traded for an average price of $108.15.

On 05/19/2022, Progressive Corp traded for a price of $110.5 per share and a market cap of $63,991,445,000. The stock has returned 7.38% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.

In terms of valuation, Progressive Corp has a price-earnings ratio of 29.74, a price-book ratio of 3.86, a price-earnings-to-growth (PEG) ratio of 1.07, a EV-to-Ebitda ratio of 21.43 and a price-sales ratio of 1.33.

The price-to-GF Value ratio is 1.03, earning the stock a GF Value rank of 5.

HP Inc


During the quarter, GLENMEDE TRUST CO NA bought 1,496,313 shares of NYSE:HPQ for a total holding of 2,705,226. The trade had a 0.27% impact on the equity portfolio. During the quarter, the stock traded for an average price of $36.94.

On 05/19/2022, HP Inc traded for a price of $36.05 per share and a market cap of $37,500,350,000. The stock has returned 16.69% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.

In terms of valuation, HP Inc has a price-earnings ratio of 6.36, a price-earnings-to-growth (PEG) ratio of 0.35, a EV-to-Ebitda ratio of 4.94 and a price-sales ratio of 0.64.

The price-to-GF Value ratio is 1.11, earning the stock a GF Value rank of 3.


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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