T Rowe Price Sells JPMorgan, XL Group

Guru's largest sales of the second quarter

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Jul 23, 2018
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During the second quarter, T Rowe Price Equity Income Fund (Trades, Portfolio) sold shares of the following stocks.

The firm sold out its XL Group Ltd (XL) stake, impacting the portfolio by -0.49%.

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The provider of insurance and reinsurance services has a market cap of $14.59 billion and an enterprise value of $15.44 billion.

GuruFocus gives the company a profitability and growth rating of 3 out of 10. The return on equity of -5.45% and the return on assets of -0.89% are underperforming 92% of companies in the Global Insurance - Property and Casualty industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 1.08 is below the industry median of 2.82.

Barrow, Hanley, Mewhinney & Strauss is the largest shareholder of the company among the gurus with 4.06% of outstanding shares followed by Richard Pzena (Trades, Portfolio) with 1.08% and Diamond Hill Capital (Trades, Portfolio) with 0.33%.

The holding of TE Connectivity Ltd (TEL) was cut by 55.39%. The trade had an impact of -0.28% on the portfolio.

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The producer of electronic components has a market cap of $32.37 billion and an enterprise value of $35.82 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 14.11% and the return on assets of 7.01% are outperforming 70% of companies in the Global Electronic Components industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.14 is below the industry median of 1.41.

The largest shareholder of the company among the gurus is Dodge & Cox with 6.68% of outstanding shares followed by First Pacific Advisors (Trades, Portfolio) with 1.43%, Bill Nygren (Trades, Portfolio) with 1.41% and Steven Romick (Trades, Portfolio) with 1.12%.

The Archer-Daniels Midland Co. (ADM)’s position was trimmed by 28.77%. The transaction had an impact of -0.27% on the portfolio.

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The company processes several agricultural commodities. It has a market cap of $26.46 billion and an enterprise value of $34.66 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of 9.25% and the return on assets of 4.18% are outperforming 53% of companies in the Global Farm Products industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.09 is below the industry median of 0.66.

Steven Cohen (Trades, Portfolio) is another notable shareholder of the company among the gurus with 0.47% of outstanding shares followed by Tom Gayner (Trades, Portfolio) with 0.22% and Pioneer Investments (Trades, Portfolio) with 0.17%.

The guru trimmed 26.90% of its Rayonier Inc. (RYN)’s position, impacting the portfolio by -0.26%.

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The real estate investment trust has a market cap of $4.72 billion and an enterprise value of $5.73 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 9.82% and the return on assets of 5.36% are outperforming 60% of companies in the Global Lumber and Wood Production industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.09 is below the industry median of 0.37.

Another notable shareholder of the company among the gurus is Third Avenue Management (Trades, Portfolio) with 2.37% of outstanding shares followed by Jim Simons (Trades, Portfolio) with 1.45%, Cohen with 0.06% and Pioneer Investments (Trades, Portfolio) with 0.03%.

The stake of Becton, Dickinson and Co. (BDX) was trimmed by 31.94%. The trade had an impact of -0.25% on the portfolio.

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The manufacturer of medical supplies, laboratory equipment and diagnostic products has a market cap of $65.77 billion and an enterprise value of $87.3 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of -0.66% and the return on assets of 0.11% are outperforming 55% of companies in the Global Medical Instruments & Supplies industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.06 is below the industry median of 1.74.

Pioneer Investments (Trades, Portfolio) is the largest shareholder of the company among the gurus with 0.23% of outstanding shares followed by Jeremy Grantham (Trades, Portfolio) with 0.22%, Simons with 0.2% and Mario Gabelli (Trades, Portfolio) with 0.01%.

The JPMorgan Chase & Co. (JPM)’s holding was cut by 5.77%, impacting the portfolio by -0.24%.

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The banking institution has a market cap of $374.84 billion and an enterprise value of $288.03 billion.

GuruFocus gives the company a profitability and growth rating of 3 out of 10. The return on equity of 110.19% and the return on assets of 1.09% are outperforming 53% of companies in the Global Banks - Global industry. It financial strength is rated 4 out of 10. The cash-debt ratio of 1.20 is below the industry median of 2.12.

The largest shareholder of the company among the gurus is Dodge & Cox with 0.75% of outstanding shares followed by PRIMECAP Management (Trades, Portfolio) with 0.69% and Chris Davis (Trades, Portfolio) with 0.36%.

Disclosure: I do not own any shares of any stocks mentioned in this article.