The market has not been easy to investors. But it can well the time to plant seeds for future harvest. Starting from what Gurus have bought may save you some leg work. Companies of the week: American International Group Inc. (AIG, Financial), CIGNA Corp. (CI, Financial), CTC Media Inc. (CTCM, Financial), The Bank of New York Mellon Corp. (BK, Financial), Sunoco Inc. (SUN, Financial).
American International Group Inc. (AIG): Down 44% Since Chris Davis Bought In the First Quarter of 2008
Insurer American International Group Inc. (AIG) has raised $20 billion in capital to offset $13 billion in losses from the past two quarters. Since the beginning of the year, the shares of the company have declined 50% its value, which is at its lowest since 1997; the 52-week range is between $19.73 and $70.13 per share. American International Group raised their political insurance policy to up to $120 billion. The company had recently acquired the rest of Ascot Underwriting Holdings Ltd. Bad loans and investments caused the company to lose $7.8 billion in the first quarter.
Chris Davis added to his AIG holdings between $41.18 and $57.43 per share. AIG shares are also owned by gurus: David Williams, David Tepper, Arnold Schneider, Ken Heebner, Charles Brandes, Richard Pzena, Dodge & Cox, Brian Rogers, Tweedy Browne, Michael Price, Bill Miller, Richard Snow, Chris Davis, Jean-Marie Eveillard, David Dreman, Kenneth Fisher, Ronald Muhlenkamp, Ruane Cunniff, and Wallace Weitz. David Swensen sold out his holdings in the quarter that ended on 3/31/08.
Director Virginia M. Rometty bought 2,500 shares on 5/19/08 at $39.07.
American International Group Inc. has a market cap of $67.88 billion; its shares were traded at around $27.24 with P/S ratio of 0.73. The dividend yield of American International Group Inc. stocks is 3.19%.
CIGNA Corp. (CI): Down 21% Since David Dreman Bought In the First Quarter of 2008
CIGNA Corporation (CI) reported substantial lower profits for the first quarter due to lawsuit charges and loss of $195 million within its GMIB unit (Guaranteed Minimum Income Business). The health insurer’s earnings declined 80% to $58 million or $0.21 a share from $289 million or $0.98 a share. At the beginning of April, the company recently acquired Great-West Healthcare, which is expected to add $40 million to $50 million in earnings.
David Dreman bought his 49,340 shares at around $46.90. Edward Owens, Kenneth Fisher, and Dodge & Cox also own shares of Cigna Corporation.
Since February, EVP, CFO Michael W. Bell sold a total of 115,000 shares, and Director Peter N. Larson sold 10,000 shares at $40.25 to $47.88 a share.
CIGNA Corp. has a market cap of $10.42 billion; its shares were traded at around $37.1 with a P/E ratio of 11.96 and P/S ratio of 0.58. The dividend yield of CIGNA Corp. stocks is 0.46%.
CTC Media Inc. (CTCM): Down 24% Since Seth Klarman Bought In the First Quarter of 2008
CTC Media Inc. (CTCM) is one of the largest commercial television broadcasters in Russia offering entertainment programming. The company’s profits climbed nearly 60% to $48.81 million for the second quarter. Late-June, CTC Media reduced their syndication loan from $180 million to $135 million.
Seth Klarman bought 29,773 shares between $26.57 and $30.81 per share.
General Director Sergey Petrov sold 12,700 shares in March and April at $28.56 to $30.05.
CTC Media Inc. has a market cap of $3.31 billion; its shares were traded at around $21.75 with a P/E ratio of 23.09 and P/S ratio of 6.64.
The Bank of New York Mellon Corp. (BK): Down 22% Since Richard Snow Bought In the First Quarter of 2008
Bank of New York reported a 31% profit decrease for the second quarter on hefty investment write-downs and transaction charges. The holding bank earned $309 million or $0.27 a share compared to $445 million or $0.62 a share. BNY made revenue of $3.41 for the same quarter. The company set aside $152 million for its security losses and spent $380 million for charges related to leveraged leases.
Richard Snow bought 7,350 shares at $44.80 a share. George Soros upped his BK shares by 30%, while the following gurus kept their shares about the same: Ruane Cunniff, Chris Davis, Brian Rogers, Martin Whitman, Bill Nygren, Jean-Marie Eveillard, Kenneth Fisher, Tom Gayner, Third Avenue Management, and Dodge & Cox.
First week of June, Vice Chairman Donald R. Monks sold a total of 102,119 shares at $41.32 to $43.63. In May, President, Director Gerald L. Hassell sold 24,187 shares at $43.95.
The Bank of New York Mellon Corp. has a market cap of $40.18 billion; its shares were traded at around $35.06 with a P/E ratio of 18.15 and P/S ratio of 2.79. The dividend yield of The Bank of New York Mellon Corp. stocks is 2.67%.
Sunoco Inc. (SUN): Down 24% Since Brian Rogers Bought In the First Quarter of 2008
Petroleum-refiner Sunoco Inc. (SUN) declared their quarterly dividend at $0.30 per share. Mid-July, Sunoco named Lynn Laverty Elsenhans, the former Royal Dutch Shell CEO, as their first woman CEO. The company lost $0.50 per share during the first quarter.
Brian Rogers bought his shares between $37.48 and $55.28; he owns 3,112,200 shares as of the first quarter. As Dodge & Cox sold out all their SUN holdings, David Dreman and HOTCHKIS & WILEY kept their SUN shares the same.
Sunoco Inc. has a market cap of $4.05 billion; its shares were traded at around $34.67 with a P/E ratio of 6.27 and P/S ratio of 0.09. The dividend yield of Sunoco Inc. stocks is 3.27%.
American International Group Inc. (AIG): Down 44% Since Chris Davis Bought In the First Quarter of 2008
Insurer American International Group Inc. (AIG) has raised $20 billion in capital to offset $13 billion in losses from the past two quarters. Since the beginning of the year, the shares of the company have declined 50% its value, which is at its lowest since 1997; the 52-week range is between $19.73 and $70.13 per share. American International Group raised their political insurance policy to up to $120 billion. The company had recently acquired the rest of Ascot Underwriting Holdings Ltd. Bad loans and investments caused the company to lose $7.8 billion in the first quarter.
Chris Davis added to his AIG holdings between $41.18 and $57.43 per share. AIG shares are also owned by gurus: David Williams, David Tepper, Arnold Schneider, Ken Heebner, Charles Brandes, Richard Pzena, Dodge & Cox, Brian Rogers, Tweedy Browne, Michael Price, Bill Miller, Richard Snow, Chris Davis, Jean-Marie Eveillard, David Dreman, Kenneth Fisher, Ronald Muhlenkamp, Ruane Cunniff, and Wallace Weitz. David Swensen sold out his holdings in the quarter that ended on 3/31/08.
Director Virginia M. Rometty bought 2,500 shares on 5/19/08 at $39.07.
American International Group Inc. has a market cap of $67.88 billion; its shares were traded at around $27.24 with P/S ratio of 0.73. The dividend yield of American International Group Inc. stocks is 3.19%.
CIGNA Corp. (CI): Down 21% Since David Dreman Bought In the First Quarter of 2008
CIGNA Corporation (CI) reported substantial lower profits for the first quarter due to lawsuit charges and loss of $195 million within its GMIB unit (Guaranteed Minimum Income Business). The health insurer’s earnings declined 80% to $58 million or $0.21 a share from $289 million or $0.98 a share. At the beginning of April, the company recently acquired Great-West Healthcare, which is expected to add $40 million to $50 million in earnings.
David Dreman bought his 49,340 shares at around $46.90. Edward Owens, Kenneth Fisher, and Dodge & Cox also own shares of Cigna Corporation.
Since February, EVP, CFO Michael W. Bell sold a total of 115,000 shares, and Director Peter N. Larson sold 10,000 shares at $40.25 to $47.88 a share.
CIGNA Corp. has a market cap of $10.42 billion; its shares were traded at around $37.1 with a P/E ratio of 11.96 and P/S ratio of 0.58. The dividend yield of CIGNA Corp. stocks is 0.46%.
CTC Media Inc. (CTCM): Down 24% Since Seth Klarman Bought In the First Quarter of 2008
CTC Media Inc. (CTCM) is one of the largest commercial television broadcasters in Russia offering entertainment programming. The company’s profits climbed nearly 60% to $48.81 million for the second quarter. Late-June, CTC Media reduced their syndication loan from $180 million to $135 million.
Seth Klarman bought 29,773 shares between $26.57 and $30.81 per share.
General Director Sergey Petrov sold 12,700 shares in March and April at $28.56 to $30.05.
CTC Media Inc. has a market cap of $3.31 billion; its shares were traded at around $21.75 with a P/E ratio of 23.09 and P/S ratio of 6.64.
The Bank of New York Mellon Corp. (BK): Down 22% Since Richard Snow Bought In the First Quarter of 2008
Bank of New York reported a 31% profit decrease for the second quarter on hefty investment write-downs and transaction charges. The holding bank earned $309 million or $0.27 a share compared to $445 million or $0.62 a share. BNY made revenue of $3.41 for the same quarter. The company set aside $152 million for its security losses and spent $380 million for charges related to leveraged leases.
Richard Snow bought 7,350 shares at $44.80 a share. George Soros upped his BK shares by 30%, while the following gurus kept their shares about the same: Ruane Cunniff, Chris Davis, Brian Rogers, Martin Whitman, Bill Nygren, Jean-Marie Eveillard, Kenneth Fisher, Tom Gayner, Third Avenue Management, and Dodge & Cox.
First week of June, Vice Chairman Donald R. Monks sold a total of 102,119 shares at $41.32 to $43.63. In May, President, Director Gerald L. Hassell sold 24,187 shares at $43.95.
The Bank of New York Mellon Corp. has a market cap of $40.18 billion; its shares were traded at around $35.06 with a P/E ratio of 18.15 and P/S ratio of 2.79. The dividend yield of The Bank of New York Mellon Corp. stocks is 2.67%.
Sunoco Inc. (SUN): Down 24% Since Brian Rogers Bought In the First Quarter of 2008
Petroleum-refiner Sunoco Inc. (SUN) declared their quarterly dividend at $0.30 per share. Mid-July, Sunoco named Lynn Laverty Elsenhans, the former Royal Dutch Shell CEO, as their first woman CEO. The company lost $0.50 per share during the first quarter.
Brian Rogers bought his shares between $37.48 and $55.28; he owns 3,112,200 shares as of the first quarter. As Dodge & Cox sold out all their SUN holdings, David Dreman and HOTCHKIS & WILEY kept their SUN shares the same.
Sunoco Inc. has a market cap of $4.05 billion; its shares were traded at around $34.67 with a P/E ratio of 6.27 and P/S ratio of 0.09. The dividend yield of Sunoco Inc. stocks is 3.27%.
