Bank of New York Mellon Corp Has $326.71 Million Stake in Leucadia National Corporation (LUK)
Bank of New York Mellon Corp reduced its position in Leucadia National Corporation (NYSE:LUK) by 7.6% during the second quarter, Holdings Channel reports. The firm owned 12,488,992 shares of the conglomerate’s stock after selling 1,022,317 shares during the period. Bank of New York Mellon Corp’s holdings in Leucadia National Corporation were worth $326,711,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Leucadia National Corporation by 5.0% in the first quarter. Vanguard Group Inc. now owns 31,656,362 shares of the conglomerate’s stock worth $823,066,000 after buying an additional 1,511,066 shares during the period. BlackRock Inc. boosted its stake in Leucadia National Corporation by 3,309.8% in the first quarter. BlackRock Inc. now owns 19,514,207 shares of the conglomerate’s stock worth $507,370,000 after buying an additional 18,941,908 shares during the period. State Street Corp boosted its stake in Leucadia National Corporation by 1.6% in the first quarter. State Street Corp now owns 14,774,468 shares of the conglomerate’s stock worth $384,140,000 after buying an additional 229,806 shares during the period. Baillie Gifford & Co. boosted its stake in Leucadia National Corporation by 107.7% in the first quarter. Baillie Gifford & Co. now owns 14,415,651 shares of the conglomerate’s stock worth $374,807,000 after buying an additional 7,475,015 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in Leucadia National Corporation by 1.9% in the second quarter. Great West Life Assurance Co. Can now owns 5,300,548 shares of the conglomerate’s stock worth $138,357,000 after buying an additional 98,211 shares during the period. 75.48% of the stock is currently owned by institutional investors and hedge funds.
Leucadia National Corporation (NYSE LUK) opened at 23.89 on Friday. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 14.16 and a beta of 1.25. Leucadia National Corporation has a 12 month low of $17.87 and a 12 month high of $27.33. The company has a 50-day moving average of $26.14 and a 200-day moving average of $25.66.
Leucadia National Corporation (NYSE:LUK) last issued its quarterly earnings data on Thursday, July 27th. The conglomerate reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.14. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.65 billion. Leucadia National Corporation had a net margin of 5.94% and a return on equity of 6.27%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 earnings per share. Analysts predict that Leucadia National Corporation will post $1.29 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 18th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, September 15th. This is a boost from Leucadia National Corporation’s previous quarterly dividend of $0.06. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.67%. Leucadia National Corporation’s dividend payout ratio (DPR) is presently 3.55%.
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LUK has been the topic of a number of analyst reports. TheStreet raised shares of Leucadia National Corporation from a “c” rating to a “b” rating in a report on Friday, May 5th. Zacks Investment Research cut shares of Leucadia National Corporation from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 11th. Finally, BidaskClub cut shares of Leucadia National Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd.
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.
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