Sun Life Financial Maintains Stake in At&T (T); Martingale Asset Management LP Has Upped Position in Fedex (FDX) by $9.59 Million as Share Value Declined

February 19, 2018 - By Nellie Frank

Sun Life Financial Inc increased its stake in At&T Inc (T) by 16.71% based on its latest 2017Q3 regulatory filing with the SEC. Sun Life Financial Inc bought 8,537 shares as the company’s stock declined 7.81% while stock markets rallied. The institutional investor held 59,639 shares of the telecommunications equipment company at the end of 2017Q3, valued at $2.34 million, up from 51,102 at the end of the previous reported quarter. Sun Life Financial Inc who had been investing in At&T Inc for a number of months, seems to be bullish on the $228.00B market cap company. The stock increased 0.38% or $0.14 during the last trading session, reaching $37.14. About 19.90 million shares traded. AT&T Inc. (NYSE:T) has declined 0.52% since February 19, 2017 and is downtrending. It has underperformed by 17.22% the S&P500.

Martingale Asset Management LP increased its stake in Fedex Corporation (FDX) by 50.89% based on its latest 2017Q3 regulatory filing with the SEC. Martingale Asset Management LP bought 42,622 shares as the company’s stock declined 2.24% while stock markets rallied. The institutional investor held 126,381 shares of the air freight and delivery services company at the end of 2017Q3, valued at $28.51M, up from 83,759 at the end of the previous reported quarter. Martingale Asset Management LP who had been investing in Fedex Corporation for a number of months, seems to be bullish on the $65.42 billion market cap company. The stock decreased 0.34% or $0.84 during the last trading session, reaching $244.19. About 1.48M shares traded. FedEx Corporation (NYSE:FDX) has risen 19.02% since February 19, 2017 and is uptrending. It has outperformed by 2.32% the S&P500.

Investors sentiment increased to 1.17 in Q3 2017. Its up 0.02, from 1.15 in 2017Q2. It increased, as 77 investors sold T shares while 609 reduced holdings. 106 funds opened positions while 696 raised stakes. 3.34 billion shares or 1.04% more from 3.31 billion shares in 2017Q2 were reported. 67,752 are owned by Alpine Woods Capital Invsts Limited Liability. Northwestern Mutual Wealth Mngmt invested 0.12% in AT&T Inc. (NYSE:T). 1.73M are owned by Bb&T Securities Lc. Iron Financial Lc has 0.35% invested in AT&T Inc. (NYSE:T). Moreover, Interocean Limited Liability Com has 0.05% invested in AT&T Inc. (NYSE:T). Bb&T holds 0.67% of its portfolio in AT&T Inc. (NYSE:T) for 878,957 shares. Fcm Tx holds 0.03% in AT&T Inc. (NYSE:T) or 550 shares. Mercer Advisers Inc invested 0.68% in AT&T Inc. (NYSE:T). Highstreet Asset Mgmt Inc, a Ontario – Canada-based fund reported 54,408 shares. Next Group Inc Inc owns 1.51% invested in AT&T Inc. (NYSE:T) for 151,510 shares. Mogy Joel R Counsel reported 202,685 shares. Daiwa Grp Inc Incorporated holds 297,044 shares or 0.08% of its portfolio. Gofen & Glossberg Ltd Liability Corporation Il holds 0.47% or 322,729 shares in its portfolio. Horrell Management accumulated 43,345 shares. Netherlands-based Ing Groep Nv has invested 0.22% in AT&T Inc. (NYSE:T).

Sun Life Financial Inc, which manages about $1.01B US Long portfolio, decreased its stake in Real Estate Select Sector Spdr Etf by 40,004 shares to 92,337 shares, valued at $2.98M in 2017Q3, according to the filing. It also reduced its holding in Spdr S&P 500 Etf Trust (SPY) by 128,728 shares in the quarter, leaving it with 1.28 million shares, and cut its stake in Industrial Select Sector Spdr Fund (XLI).

Among 30 analysts covering AT&T Inc. (NYSE:T), 10 have Buy rating, 1 Sell and 19 Hold. Therefore 33% are positive. AT&T Inc. had 73 analyst reports since July 27, 2015 according to SRatingsIntel. The firm has “Mkt Perform” rating by FBR Capital given on Friday, July 24. Deutsche Bank downgraded AT&T Inc. (NYSE:T) rating on Wednesday, January 11. Deutsche Bank has “Hold” rating and $43 target. RBC Capital Markets maintained AT&T Inc. (NYSE:T) on Friday, July 7 with “Hold” rating. Cowen & Co maintained the stock with “Hold” rating in Thursday, February 1 report. Deutsche Bank maintained AT&T Inc. (NYSE:T) rating on Tuesday, June 28. Deutsche Bank has “Buy” rating and $45 target. As per Monday, December 12, the company rating was upgraded by Robert W. Baird. The rating was maintained by Cowen & Co on Tuesday, July 18 with “Hold”. Bank of America maintained the shares of T in report on Friday, February 2 with “Neutral” rating. Cowen & Co maintained the shares of T in report on Monday, September 18 with “Hold” rating. The rating was downgraded by Bank of America on Thursday, July 13 to “Neutral”.

Since September 21, 2017, it had 1 buy, and 6 insider sales for $22.29 million activity. $2.55M worth of FedEx Corporation (NYSE:FDX) was sold by Maier Henry J on Thursday, October 26. SCHWAB SUSAN C bought $19,837 worth of stock. Subramaniam Rajesh also sold $1.48M worth of FedEx Corporation (NYSE:FDX) shares. Colleran Donald F also sold $2.20 million worth of FedEx Corporation (NYSE:FDX) on Thursday, September 21. Another trade for 46,555 shares valued at $11.89M was made by BRONCZEK DAVID J on Tuesday, January 2. 3,016 FedEx Corporation (NYSE:FDX) shares with value of $802,405 were sold by STEINER DAVID P.

Martingale Asset Management L P, which manages about $2.91 billion and $7.45B US Long portfolio, decreased its stake in Starbucks Corp (NASDAQ:SBUX) by 60,363 shares to 557,751 shares, valued at $29.96M in 2017Q3, according to the filing. It also reduced its holding in Semtech (NASDAQ:SMTC) by 51,607 shares in the quarter, leaving it with 36,210 shares, and cut its stake in Hawaiian Elec Inds (NYSE:HE).

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