Laffer Investments Buys Assurant Inc, Jefferies Financial Group Inc, South Jersey Industries Inc, Sells Anthem Inc, Time Warner Inc, Anadarko Petroleum Corp

• New Purchases: AIZP.PFD, JEF, SJIU, NVT, PEP, AVGO, NORW, NBRPA.PFD, GSY,
• Added Positions: T, SWP, EWH, EWQ, EWS, EWT, INDA, KMI, SPY,
• Reduced Positions: MSFT, BDXA.PFD, CCIPA.PFD, DCUD, WFCPL.PFD, SREPA.PFD, AREPD.PFD, HESPA.PFD, BGEPF.PFD, WELLPI.PFD,
• Sold Out: ANTX, TWX, AEUA, OHI, AMLP,

For the details of Laffer Investments's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Laffer+Investments

1. Microsoft Corp (MSFT) - 112,366 shares, 3.28% of the total portfolio. Shares reduced by 7.15%
2. JPMorgan Chase & Co (JPM) - 66,688 shares, 2.06% of the total portfolio. Shares reduced by 0.33%
3. UnitedHealth Group Inc (UNH) - 20,495 shares, 1.49% of the total portfolio.
4. Wells Fargo & Co (WFC) - 90,687 shares, 1.49% of the total portfolio.
5. Becton, Dickinson and Co (BDXA.PFD) - 73,149 shares, 1.34% of the total portfolio. Shares reduced by 10.41%

Laffer Investments initiated holding in Assurant Inc. The purchase prices were between $100.77 and $113.25, with an estimated average price of $106.1. The stock is now traded at around $113.87. The impact to a portfolio due to this purchase was 0.72%. The holding were 21,496 shares as of 2018-06-30.

Laffer Investments initiated holding in Jefferies Financial Group Inc. The purchase prices were between $21.77 and $24.79, with an estimated average price of $23.42. The stock is now traded at around $23.80. The impact to a portfolio due to this purchase was 0.56%. The holding were 82,470 shares as of 2018-06-30.

Laffer Investments initiated holding in South Jersey Industries Inc. The purchase prices were between $51 and $56.12, with an estimated average price of $53.29. The stock is now traded at around $53.52. The impact to a portfolio due to this purchase was 0.52%. The holding were 32,119 shares as of 2018-06-30.

Laffer Investments initiated holding in nVent Electric PLC. The purchase prices were between $22.1 and $28.48, with an estimated average price of $25.54. The stock is now traded at around $27.21. The impact to a portfolio due to this purchase was 0.24%. The holding were 31,702 shares as of 2018-06-30.

Laffer Investments initiated holding in PepsiCo Inc. The purchase prices were between $96.16 and $110.57, with an estimated average price of $103.34. The stock is now traded at around $114.25. The impact to a portfolio due to this purchase was 0.21%. The holding were 6,569 shares as of 2018-06-30.

Laffer Investments initiated holding in Broadcom Inc. The purchase prices were between $225.25 and $270.23, with an estimated average price of $245.06. The stock is now traded at around $208.69. The impact to a portfolio due to this purchase was 0.2%. The holding were 2,840 shares as of 2018-06-30.

Laffer Investments added to a holding in AT&T Inc by 273.93%. The purchase prices were between $31.4 and $36.14, with an estimated average price of $33.25. The stock is now traded at around $33.09. The impact to a portfolio due to this purchase was 0.44%. The holding were 62,731 shares as of 2018-06-30.

Laffer Investments sold out a holding in Anthem Inc. The sale prices were between $53.19 and $57.61, with an estimated average price of $55.27.

Laffer Investments sold out a holding in Time Warner Inc. The sale prices were between $92.18 and $98.77, with an estimated average price of $95.01.

Laffer Investments sold out a holding in Anadarko Petroleum Corp. The sale prices were between $28.95 and $33.97, with an estimated average price of $31.27.

Laffer Investments sold out a holding in Omega Healthcare Investors Inc. The sale prices were between $25.36 and $31.87, with an estimated average price of $28.55.

Laffer Investments sold out a holding in Alerian MLP. The sale prices were between $9.3 and $10.66, with an estimated average price of $10.14.