Leucadia National Corporation (NYSE:LUK) Position Cut by World Asset Management Inc
World Asset Management Inc cut its stake in shares of Leucadia National Corporation (NYSE:LUK) by 11.2% during the second quarter, Holdings Channel reports. The fund owned 29,980 shares of the conglomerate’s stock after selling 3,766 shares during the period. World Asset Management Inc’s holdings in Leucadia National Corporation were worth $784,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. raised its position in Leucadia National Corporation by 63.6% in the first quarter. Contravisory Investment Management Inc. now owns 5,162 shares of the conglomerate’s stock valued at $134,000 after buying an additional 2,006 shares during the last quarter. IFP Advisors Inc raised its position in Leucadia National Corporation by 14.2% in the first quarter. IFP Advisors Inc now owns 6,258 shares of the conglomerate’s stock valued at $163,000 after buying an additional 776 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in Leucadia National Corporation during the first quarter valued at about $192,000. Atria Investments LLC purchased a new position in Leucadia National Corporation during the first quarter valued at about $200,000. Finally, Ameritas Investment Partners Inc. purchased a new position in Leucadia National Corporation during the first quarter valued at about $202,000. Institutional investors and hedge funds own 75.23% of the company’s stock.
Leucadia National Corporation (LUK) opened at 26.13 on Tuesday. The stock’s 50 day moving average is $26.23 and its 200 day moving average is $25.54. Leucadia National Corporation has a one year low of $17.47 and a one year high of $27.33. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 15.45 and a beta of 1.25.
Leucadia National Corporation (NYSE:LUK) last posted its earnings results on Thursday, July 27th. The conglomerate reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.14. Leucadia National Corporation had a return on equity of 6.27% and a net margin of 5.94%. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts predict that Leucadia National Corporation will post $1.58 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.53%. This is a boost from Leucadia National Corporation’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, September 15th. Leucadia National Corporation’s dividend payout ratio (DPR) is currently 3.55%.
Several equities analysts recently issued reports on the stock. BidaskClub upgraded shares of Leucadia National Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research lowered shares of Leucadia National Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Finally, TheStreet upgraded shares of Leucadia National Corporation from a “c” rating to a “b” rating in a report on Friday, May 5th.
About Leucadia National Corporation
Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value. The Company’s segments, based on requirements are Jefferies, National Beef, and Corporate and other. Jefferies is a global full-service, integrated securities and investment banking firm.
Want to see what other hedge funds are holding LUK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Leucadia National Corporation (NYSE:LUK).
Receive News & Ratings for Leucadia National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leucadia National Corporation and related companies with MarketBeat.com's FREE daily email newsletter.