Arnold Schneider (Trades, Portfolio) made seven new buys in the third quarter, but most of his activity involved reducing existing stakes. Previously GuruFocus examined his top four reductions – SunTrust Banks (STI, Financial), Marriott International (MAR, Financial), Citigroup (C, Financial) and Carnival (CCL, Financial). Here is a look at Schneider’s other quarterly reductions that had an impact of 1% or greater on his portfolio.
Schneider reduced his stake in Hartford Financial Services Group (HIG, Financial), a Hartford, Connecticut-based investment and insurance company, by nearly 51%. Schneider sold 311,537 shares for an average price of $46.18 per share. The deal had a -1.67% impact on Schneider’s portfolio.
Hartford Financial Services has a market cap of $17.77 billion and an enterprise value of $19.2 billion. It has a P/E of 11.4, a forward P/E of 10.6, a P/B of 1.0 and a P/S of 1.0. GuruFocus has given Hartford Financial Services a Financial Strength rating of 4/10 and a Profitability and Growth rating of 5/10.
Thirteen other gurus were active in Hartford Financial Services in the third quarter. Seven – Richard Snow (Trades, Portfolio), Richard Pzena (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), David Dreman (Trades, Portfolio) and Joel Greenblatt (Trades, Portfolio) – also reduced their positions.
Hartford Financial Services sold for $43.40 per share Wednesday.
Schneider cut his stake in Weatherford International (WFT, Financial), a Switzerland-based oilfield services and equipment company, by nearly one-third. Schneider sold 931,329 shares for an average price of $10.13 per share. The transaction had a -1.47% impact on Schneider’s portfolio.
Weatherford International has a market cap of $6.85 billion and an enterprise value of $14.1 billion. It has a forward P/E of 1666.7, a P/B of 1.2 and a P/S of 0.6. GuruFocus has given Weatherford International a Financial Strength rating of 5/10 and a Profitability and Growth rating of 6/10.
Nine other gurus traded in Weatherford International during the third quarter. Three – Manning & Napier Advisors Inc., Steven Cohen (Trades, Portfolio) and Mario Gabelli (Trades, Portfolio) – reduced their stakes.
Weatherford International sold for $8.85 per share Wednesday.
Schneider sold more than 95% of his stake in Peabody Energy (BTU, Financial), a St. Louis-based coal mining, sale and distribution company. Schneider sold 92,358 shares for an average price of $22.58 per share. The deal had a -1.29% impact on Schneider’s portfolio.
Peabody Energy has a market cap of $159.85 million and an enterprise value of $6.13 billion. It has a P/B of 0.1. GuruFocus has given Peabody Energy a Financial Strength rating of 6/10 and a Profitability and Growth rating of 5/10.
Five other gurus traded in Peabody Energy in the third quarter. Jim Simons (Trades, Portfolio), Mario Gabelli (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) reduced their stakes. Donald Smith (Trades, Portfolio) and George Soros (Trades, Portfolio) sold their stakes.
Peabody Energy sold for $8.71 per share Wednesday.
Schneider cut his stake in Forest City Enterprises (FCE.A, Financial), a Cleveland-based property management company, by more than 62%. Schneider sold 449,279 shares for an average price of $22.07 per share. The transaction had a -1.28% impact on Schneider’s portfolio.
Forest City Enterprises has a market cap of $5.55 billion and an enterprise value of $10.43 billion. It has a P/E of 273.7, a forward P/E of 36.5, a P/B of 1.9 and a P/S of 4.6. GuruFocus has given Forest City Enterprises a Financial Strength rating of 5/10 and a Profitability and Growth rating of 4/10.
Thirteen other gurus traded in Forest City Enterprises in the third quarter. Five – Murray Stahl (Trades, Portfolio), Signature Select Canadian Fund (Trades, Portfolio), Jim Simons (Trades, Portfolio), Chris Davis (Trades, Portfolio) and Pioneer Investments (Trades, Portfolio) – also reduced their stakes.
Forest City Enterprises sold for $21.46 per share Wednesday.
Schneider pared his stake in JPMorgan Chase (JPM, Financial), a New York-based banking and financial services company, by more than 32%. Schneider sold 135,425 shares for an average price of $65.57 per share. The deal had a -1.18% impact on Schneider’s portfolio.
JPMorgan Chase has a market cap of $245.79 billion and an enterprise value of $214.18 billion. It has a P/E of 11.4, a forward P/E of 10.5, a P/B of 1.1 and a P/S of 2.7. GuruFocus has given JPMorgan Chase a Financial Strength rating of 4/10 and a Profitability and Growth rating of 6/10.
More than two dozen other gurus traded in JPMorgan Chase in the third quarter. Eighteen – including Ken Heebner (Trades, Portfolio), HOTCHKIS & WILEY, Richard Snow (Trades, Portfolio), Chris Davis (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio) and Glenn Greenberg (Trades, Portfolio) – reduced their stakes.
JPMorgan Chase sold for $66.77 per share Wednesday.
Schneider trimmed his stake in Flagstar Bancorp (FBC, Financial), a Troy, Michigan-based financial services company, by more than 22%. Schneider sold 482,221 shares for an average price of $19.61 per share. The transaction had a -1.15% impact on Schneider’s portfolio.
Flagstar Bancorp has a market cap of $1.33 billion and an enterprise value of $3.7 billion. It has a P/E of 12.6, a forward P/E of 16.4, a P/B of 1.1 and a P/S of 1.8. GuruFocus has given Flagstar Bancorp a Financial Strength rating of 5/10 and a Profitability and Growth rating of 4/10.
Jim Simons (Trades, Portfolio) was the only other guru who trade in Flagstar Bancorp in the third quarter. He increased his stake.
Flagstar Bancorp sold for $23.51 per share Wednesday.
Schneider cut his stake in Chesapeake Energy (CHK, Financial), an Oklahoma City-based oil and gas company, by more than one-fourth. Schneider sold 795,598 shares for an average price of $8.49 per share. The deal had a -1.14% impact on Schneider’s portfolio.
Chesapeake Energy has a market cap of $2.93 billion and an enterprise value of $16.06 billion. It has a P/B of 2.2 and a P/S of 0.2 GuruFocus has given Chesapeake Energy a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.
In addition to Schneider, 12 other gurus traded in Chesapeake Energy in the third quarter. Five of them – Richard Snow (Trades, Portfolio), Mason Hawkins (Trades, Portfolio), John Buckingham (Trades, Portfolio), David Dreman (Trades, Portfolio) and John Rogers (Trades, Portfolio) – also reduced their stakes.
Chesapeake Energy sold for $4.40 per share Wednesday.
Schneider trimmed his stake in Wpx Energy (WPX, Financial), a Tulsa, Oklahoma-based oil and gas extraction company, by nearly 31%. Schneider sold 689,295 shares for an average price of $8.36 per share. The transaction had a -1.09% impact on Schneider’s portfolio.
Wpx Energy has a market cap of $1.62 billion and an enterprise value of $5.26 billion. It has a P/E of 23.1, a forward P/E of 172.4, a P/B of 0.3 and a P/S of 0.5. GuruFocus has given Wpx Energy a Financial Strength rating of 7/10 and a Profitability and Growth rating of 5/10.
Two gurus – Donald Smith (Trades, Portfolio) and Murray Stahl (Trades, Portfolio) – also reduced their stakes in Wpx Energy.
Wpx Energy sold for $5.9 per share Wednesday.
To view the portfolios of more gurus, visit the List of Gurus page. Not a premium member of GuruFocus? Try it free for 7 days.
