Top 5 2nd Quarter Trades of ROYAL LONDON ASSET MANAGEMENT LTD

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Aug 13, 2022
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ROYAL LONDON ASSET MANAGEMENT LTD recently filed their 13F report for the second quarter of 2022, which ended on 2022-06-30.

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 Royal London Asset Management is a UK investment company that was founded in 1987. The company operates as a subsidiary of the Royal London Mutual Insurance Society, the UK’s largest mutual insurance company, and is one of UK’s leading fund management companies. Royal London Asset Management, RLAM for short, was spun out of the Royal London Mutual Insurance Society when its parent company decided to separate out its investment department into an investment management subsidiary to be able to provide its products and services to a wider client base. The company found its first external client in 1990 and would have rapid growth through the 1990s, acquiring United Assurance, Scottish Life, and Union Discount’s cash management business, which was renamed Royal London Cash Management, allowing the company to reach approximately $40 billion in total assets under management by 2004. RLAM would then grow both organically and through mergers, acquiring the Cooperative Asset Management in 2014. The company today has over $135 billion in total assets under management. It invests its funds across all major asset classes, including growth stocks, government bonds, corporate bonds, overseas equity, and properties. The company provides its services to multi-managers, universities, government entities, wealth managers, and financial advisors and currently manage assets “on behalf of more than 150 institutional pension funds.” The firm utilizes a top down economic and sector analysis with a fundamental and quantitative based bottom-up stock selection in order to manage its equity portfolios, researching its methods both in house and externally. Its current team includes over 70 investment professionals based out of the company’s London and Wilmslow offices. Some of its notable funds include its Sterling Extra Yield Bond, Ethical Bond, Sterling Credit, and UK Equity Income A, all of which have won awards in recent years. RLAM was also the UK fixed income manager of the year in 2014.

As of the latest 13F report, the guru’s equity portfolio contained 650 stocks valued at a total of $21.94Bil. The top holdings were MSFT(7.04%), AAPL(4.78%), and GOOG(4.05%).

According to GuruFocus data, these were ROYAL LONDON ASSET MANAGEMENT LTD’s top five trades of the quarter.

Visa Inc


During the quarter, ROYAL LONDON ASSET MANAGEMENT LTD bought 772,736 shares of NYSE:V for a total holding of 2,933,265. The trade had a 0.69% impact on the equity portfolio. During the quarter, the stock traded for an average price of $206.91.

On 08/13/2022, Visa Inc traded for a price of $211.33 per share and a market cap of $445.36Bil. The stock has returned -8.34% 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 31.18, a price-book ratio of 13.66, a price-earnings-to-growth (PEG) ratio of 2.17, a EV-to-Ebitda ratio of 24.04 and a price-sales ratio of 16.19.

The price-to-GF Value ratio is 0.82, earning the stock a GF Value rank of 9.

Ferguson PLC


ROYAL LONDON ASSET MANAGEMENT LTD reduced their investment in NYSE:FERG by 1,177,791 shares. The trade had a 0.48% impact on the equity portfolio. During the quarter, the stock traded for an average price of $121.31.

On 08/13/2022, Ferguson PLC traded for a price of $126.01 per share and a market cap of $26.58Bil. The stock has returned -9.57% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Ferguson PLC has a price-earnings ratio of 13.56, a price-book ratio of 6.04, a price-earnings-to-growth (PEG) ratio of 1.07, a EV-to-Ebitda ratio of 9.06 and a price-sales ratio of 1.02.

The price-to-GF Value ratio is 1.11, earning the stock a GF Value rank of 5.

Alphabet Inc


ROYAL LONDON ASSET MANAGEMENT LTD reduced their investment in NAS:GOOG by 36,491 shares. The trade had a 0.4% impact on the equity portfolio. During the quarter, the stock traded for an average price of $118.5.

On 08/13/2022, Alphabet Inc traded for a price of $122.65 per share and a market cap of $1,592.94Bil. The stock has returned -11.37% over the past year.

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

In terms of valuation, Alphabet Inc has a price-earnings ratio of 22.65, a price-book ratio of 6.22, a price-earnings-to-growth (PEG) ratio of 0.85, a EV-to-Ebitda ratio of 14.94 and a price-sales ratio of 5.94.

The price-to-GF Value ratio is 0.90, earning the stock a GF Value rank of 7.

Microsoft Corp


During the quarter, ROYAL LONDON ASSET MANAGEMENT LTD bought 334,283 shares of NAS:MSFT for a total holding of 6,009,106. The trade had a 0.39% impact on the equity portfolio. During the quarter, the stock traded for an average price of $271.99.

On 08/13/2022, Microsoft Corp traded for a price of $291.91 per share and a market cap of $2,177.03Bil. The stock has returned 1.56% over the past year.

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

In terms of valuation, Microsoft Corp has a price-earnings ratio of 30.28, a price-book ratio of 13.08, a price-earnings-to-growth (PEG) ratio of 1.47, a EV-to-Ebitda ratio of 21.29 and a price-sales ratio of 11.09.

The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 7.

Old Dominion Freight Line Inc


During the quarter, ROYAL LONDON ASSET MANAGEMENT LTD bought 315,164 shares of NAS:ODFL for a total holding of 685,764. The trade had a 0.37% impact on the equity portfolio. During the quarter, the stock traded for an average price of $262.67.

On 08/13/2022, Old Dominion Freight Line Inc traded for a price of $314.31 per share and a market cap of $35.13Bil. The stock has returned 12.99% over the past year.

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

In terms of valuation, Old Dominion Freight Line Inc has a price-earnings ratio of 29.16, a price-book ratio of 9.91, a price-earnings-to-growth (PEG) ratio of 1.50, a EV-to-Ebitda ratio of 17.97 and a price-sales ratio of 6.07.

The price-to-GF Value ratio is 0.98, earning the stock a GF Value rank of 6.


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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