Lumina Fund Management Cut Blackrock (Call) (BLK) Stake as Shares Rose; As Bank Amer (BAC) Market Valuation Declined, R-M Sincerbeaux Capital Management Has Cut by $575,050 Its Position

February 21, 2018 - By Dolores Ford

Lumina Fund Management Llc decreased its stake in Blackrock Inc (Call) (BLK) by 91.67% based on its latest 2017Q3 regulatory filing with the SEC. Lumina Fund Management Llc sold 16,500 shares as the company’s stock rose 1.17% with the market. The institutional investor held 1,500 shares of the finance company at the end of 2017Q3, valued at $645,000, down from 18,000 at the end of the previous reported quarter. Lumina Fund Management Llc who had been investing in Blackrock Inc (Call) for a number of months, seems to be less bullish one the $88.45 billion market cap company. The stock increased 1.00% or $5.4 during the last trading session, reaching $548. About 360,541 shares traded. BlackRock, Inc. (NYSE:BLK) has risen 12.19% since February 21, 2017 and is uptrending. It has underperformed by 4.51% the S&P500.

R-M Sincerbeaux Capital Management decreased its stake in Bank Amer Corp (BAC) by 10.48% based on its latest 2017Q3 regulatory filing with the SEC. R-M Sincerbeaux Capital Management sold 23,002 shares as the company’s stock declined 6.00% while stock markets rallied. The institutional investor held 196,407 shares of the major banks company at the end of 2017Q3, valued at $4.98M, down from 219,409 at the end of the previous reported quarter. R-M Sincerbeaux Capital Management who had been investing in Bank Amer Corp for a number of months, seems to be less bullish one the $330.07B market cap company. The stock increased 0.49% or $0.155 during the last trading session, reaching $32.085. About 56.94M shares traded. Bank of America Corporation (NYSE:BAC) has risen 58.64% since February 21, 2017 and is uptrending. It has outperformed by 41.94% the S&P500.

Analysts await Bank of America Corporation (NYSE:BAC) to report earnings on April, 17. They expect $0.59 EPS, up 43.90% or $0.18 from last year’s $0.41 per share. BAC’s profit will be $6.07B for 13.60 P/E if the $0.59 EPS becomes a reality. After $0.47 actual EPS reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts 25.53% EPS growth.

Investors sentiment decreased to 1.04 in Q3 2017. Its down 0.08, from 1.12 in 2017Q2. It fall, as 68 investors sold BAC shares while 569 reduced holdings. 117 funds opened positions while 547 raised stakes. 6.91 billion shares or 9.01% more from 6.34 billion shares in 2017Q2 were reported. Sterneck Capital Mngmt Limited Com reported 0.53% of its portfolio in Bank of America Corporation (NYSE:BAC). Fisher Asset Mgmt Limited Liability Corp owns 16.30 million shares. Woodstock accumulated 126,960 shares or 0.61% of the stock. Verus Prns holds 0.11% or 11,484 shares in its portfolio. Wall Street Access Asset Management Ltd Liability Corp invested in 49,178 shares. Hanseatic Mngmt Service stated it has 0.59% of its portfolio in Bank of America Corporation (NYSE:BAC). Vanguard owns 663.61M shares. 12,545 are owned by Headinvest Ltd. Menta Ltd Company has 0.3% invested in Bank of America Corporation (NYSE:BAC). Umb Bank & Trust N A Mo has invested 0.06% in Bank of America Corporation (NYSE:BAC). Texas Permanent School Fund invested in 2.72M shares or 0.88% of the stock. Crawford Investment Counsel holds 0.01% or 13,652 shares in its portfolio. Clarivest Asset Limited Liability Corp owns 562,565 shares. Hudson Valley Investment Advsrs Adv invested 1.2% of its portfolio in Bank of America Corporation (NYSE:BAC). Ibm Retirement Fund owns 1.25% invested in Bank of America Corporation (NYSE:BAC) for 244,641 shares.

Among 33 analysts covering Bank of America (NYSE:BAC), 22 have Buy rating, 0 Sell and 11 Hold. Therefore 67% are positive. Bank of America had 106 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was downgraded by Vetr to “Buy” on Tuesday, August 11. The stock has “Mkt Perform” rating by Bernstein on Tuesday, August 25. Keefe Bruyette & Woods maintained Bank of America Corporation (NYSE:BAC) rating on Tuesday, October 3. Keefe Bruyette & Woods has “Buy” rating and $29.0 target. CLSA maintained the shares of BAC in report on Friday, September 23 with “Outperform” rating. The rating was maintained by RBC Capital Markets with “Buy” on Friday, October 6. The firm has “Overweight” rating given on Friday, February 2 by Morgan Stanley. The firm has “Hold” rating given on Thursday, December 1 by Standpoint Research. The firm has “Buy” rating by Citigroup given on Tuesday, July 19. The stock of Bank of America Corporation (NYSE:BAC) has “Buy” rating given on Thursday, December 21 by Keefe Bruyette & Woods. The rating was upgraded by Atlantic Securities on Wednesday, December 21 to “Overweight”.

Analysts await BlackRock, Inc. (NYSE:BLK) to report earnings on April, 18. They expect $6.47 EPS, up 23.24% or $1.22 from last year’s $5.25 per share. BLK’s profit will be $1.04 billion for 21.17 P/E if the $6.47 EPS becomes a reality. After $6.24 actual EPS reported by BlackRock, Inc. for the previous quarter, Wall Street now forecasts 3.69% EPS growth.

Among 18 analysts covering BlackRock (NYSE:BLK), 12 have Buy rating, 0 Sell and 6 Hold. Therefore 67% are positive. BlackRock had 82 analyst reports since August 26, 2015 according to SRatingsIntel. The rating was downgraded by Citigroup to “Hold” on Thursday, January 25. On Thursday, October 5 the stock rating was maintained by Morgan Stanley with “Overweight”. The stock of BlackRock, Inc. (NYSE:BLK) earned “Buy” rating by Argus Research on Friday, January 15. The stock has “Outperform” rating by RBC Capital Markets on Thursday, January 21. Barclays Capital maintained BlackRock, Inc. (NYSE:BLK) on Thursday, October 13 with “Equal-Weight” rating. The company was maintained on Tuesday, April 5 by Barclays Capital. The rating was maintained by Jefferies on Tuesday, October 10 with “Hold”. The stock of BlackRock, Inc. (NYSE:BLK) earned “Equal-Weight” rating by Barclays Capital on Tuesday, August 9. The company was maintained on Friday, January 8 by Deutsche Bank. On Friday, August 5 the stock rating was maintained by Deutsche Bank with “Buy”.

Lumina Fund Management Llc, which manages about $805.90 million and $975.01 million US Long portfolio, upped its stake in Alaska Air Group Inc (NYSE:ALK) by 6,000 shares to 12,000 shares, valued at $915,000 in 2017Q3, according to the filing. It also increased its holding in Synaptics Inc (NASDAQ:SYNA) by 50,000 shares in the quarter, for a total of 60,000 shares, and has risen its stake in Spdr S&P 500 Etf Tr (SPY).

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