United Services Automobile Association Cut Fifth Third Bancorp (FITB) Stake as Share Value Declined; Indexiq Advisors Has Lowered Its Southern Copper (SCCO) Holding as Market Valuation Declined



October 1, 2017 – By Migdalia James

Indexiq Advisors Llc decreased its stake in Southern Copper Corp (SCCO) by 82.03% based on its latest 2017Q2 regulatory filing with the SEC. Indexiq Advisors Llc sold 48,811 shares as the company’s stock declined 7.29% while stock markets rallied. The institutional investor held 10,692 shares of the precious metals company at the end of 2017Q2, valued at $370,000, down from 59,503 at the end of the previous reported quarter. Indexiq Advisors Llc who had been investing in Southern Copper Corp for a number of months, seems to be less bullish one the $30.74B market cap company. The stock increased 0.35% or $0.14 on September 29, reaching $39.76. About 743,852 shares traded. Southern Copper Corp (NYSE:SCCO) has risen 28.26% since October 1, 2016 and is uptrending. It has outperformed by 11.56% the S&P500.

United Services Automobile Association decreased its stake in Fifth Third Bancorp (FITB) by 6.59% based on its latest 2017Q2 regulatory filing with the SEC. United Services Automobile Association sold 85,874 shares as the company’s stock declined 12.20% while stock markets rallied. The institutional investor held 1.22M shares of the major banks company at the end of 2017Q2, valued at $31.61 million, down from 1.30 million at the end of the previous reported quarter. United Services Automobile Association who had been investing in Fifth Third Bancorp for a number of months, seems to be less bullish one the $20.61B market cap company. The stock increased 1.41% or $0.39 on September 29, reaching $27.98. About 4.98M shares traded. Fifth Third Bancorp (NASDAQ:FITB) has risen 33.30% since October 1, 2016 and is uptrending. It has outperformed by 16.60% the S&P500.

Analysts await Southern Copper Corp (NYSE:SCCO) to report earnings on November, 14. They expect $0.45 EPS, up 73.08% or $0.19 from last year’s $0.26 per share. SCCO’s profit will be $347.91 million for 22.09 P/E if the $0.45 EPS becomes a reality. After $0.39 actual EPS reported by Southern Copper Corp for the previous quarter, Wall Street now forecasts 15.38% EPS growth.

Among 11 analysts covering Southern Copper (NYSE:SCCO), 2 have Buy rating, 3 Sell and 6 Hold. Therefore 18% are positive. Southern Copper had 24 analyst reports since August 5, 2015 according to SRatingsIntel. The rating was upgraded by HSBC to “Hold” on Friday, August 26. The stock of Southern Copper Corp (NYSE:SCCO) has “Hold” rating given on Monday, July 17 by Cowen & Co. Cowen & Co maintained Southern Copper Corp (NYSE:SCCO) on Thursday, February 18 with “Market Perform” rating. The firm has “Market Perform” rating by Cowen & Co given on Tuesday, May 3. The rating was initiated by Goldman Sachs on Thursday, June 9 with “Neutral”. On Wednesday, August 9 the stock rating was maintained by Barclays Capital with “Underweight”. The firm has “Overweight” rating given on Tuesday, January 26 by JP Morgan. The firm has “Market Perform” rating by BMO Capital Markets given on Wednesday, March 23. The rating was initiated by FBR Capital with “Outperform” on Friday, September 18. The firm has “Neutral” rating given on Monday, August 31 by JP Morgan.

Investors sentiment decreased to 0.91 in 2017 Q2. Its down 0.14, from 1.05 in 2017Q1. It is negative, as 27 investors sold SCCO shares while 72 reduced holdings. 27 funds opened positions while 63 raised stakes. 46.22 million shares or 3.66% less from 47.98 million shares in 2017Q1 were reported. Prudential Fincl holds 0.06% of its portfolio in Southern Copper Corp (NYSE:SCCO) for 1.22M shares. Fincl Architects accumulated 122 shares or 0% of the stock. Moreover, Aperio Grp Ltd Co has 0.03% invested in Southern Copper Corp (NYSE:SCCO). Gateway Investment Advisers Llc holds 213,638 shares. Eaton Vance Mgmt holds 16,338 shares. Next Fincl Gru Inc has 650 shares. Credit Agricole S A reported 104,165 shares. Hansberger Growth Investors LP holds 57,417 shares or 2.71% of its portfolio. Wealthtrust accumulated 336 shares. 95,300 are owned by Jpmorgan Chase. United Kingdom-based Martin Currie Ltd has invested 1.55% in Southern Copper Corp (NYSE:SCCO). Arrowstreet Cap Lp accumulated 0% or 8,100 shares. Commonwealth Of Pennsylvania Pub School Empls Retrmt System owns 0% invested in Southern Copper Corp (NYSE:SCCO) for 5,820 shares. Sei Invs reported 16,873 shares stake. Ngam Advsr Lp reported 52,044 shares.

More notable recent Southern Copper Corp (NYSE:SCCO) news were published by: Nasdaq.com which released: “Southern Copper Corporation (SCCO) Ex-Dividend Date Scheduled for August 07, 2017” on August 04, 2017, also Seekingalpha.com with their article: “Southern Copper Corporation (SCCO) Q2 2017 Results – Earnings Call Transcript” published on July 29, 2017, Reuters.com published: “Peru’s Southern Copper workers back at work after two-week strike” on April 24, 2017. More interesting news about Southern Copper Corp (NYSE:SCCO) were released by: Fool.com and their article: “Why Southern Copper Corp Stock Rocketed 18% in January” published on February 07, 2017 as well as Seekingalpha.com‘s news article titled: “Southern Copper Corporation’s (SCCO) CEO Raul Jacob on Q4 2016 Results …” with publication date: February 03, 2017.

Indexiq Advisors Llc, which manages about $1.21B and $2.08 billion US Long portfolio, upped its stake in Fortress Investment Group Ll (NYSE:FIG) by 96,841 shares to 263,217 shares, valued at $2.10M in 2017Q2, according to the filing. It also increased its holding in Vanguard Scottsdale Fds (VCSH) by 1.43 million shares in the quarter, for a total of 1.48 million shares, and has risen its stake in Wisdomtree Tr (ELD).

Since June 8, 2017, it had 0 insider buys, and 1 sale for $10,500 activity.

United Services Automobile Association, which manages about $32.89B US Long portfolio, upped its stake in Navigant Consulting Inc (NYSE:NCI) by 30,400 shares to 60,150 shares, valued at $1.19 million in 2017Q2, according to the filing. It also increased its holding in Goldman Sachs Activebeta Emerging Markets Equity Etf by 29,361 shares in the quarter, for a total of 2.10M shares, and has risen its stake in Kinsale Capital Group Inc.

Investors sentiment decreased to 0.81 in 2017 Q2. Its down 0.04, from 0.85 in 2017Q1. It fall, as 52 investors sold FITB shares while 217 reduced holdings. 61 funds opened positions while 157 raised stakes. 573.75 million shares or 3.06% less from 591.88 million shares in 2017Q1 were reported. Mitsubishi Ufj And Bk stated it has 0.08% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). The Pennsylvania-based Glenmede Na has invested 0.19% in Fifth Third Bancorp (NASDAQ:FITB). Main Street Limited Liability Company holds 1.98% or 467,445 shares. Glg Lc reported 42,031 shares. Geode Cap Management holds 8.56 million shares. Finemark Fincl Bank Tru reported 12,864 shares. Prudential stated it has 2.23 million shares or 0.09% of all its holdings. Da Davidson reported 54,003 shares. Lpl Finance Limited Co owns 68,534 shares or 0.01% of their US portfolio. Matarin Capital Management Ltd Liability has 154,756 shares for 0% of their portfolio. Moreover, Comm Savings Bank has 0.01% invested in Fifth Third Bancorp (NASDAQ:FITB) for 16,552 shares. Jpmorgan Chase And holds 18.04M shares. Trexquant Invest Limited Partnership holds 0.08% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB) for 11,503 shares. Amp Investors Ltd accumulated 450,743 shares or 0.07% of the stock. Aqr Capital Mngmt Limited Liability Corporation holds 3.67 million shares or 0.13% of its portfolio.

Since April 28, 2017, it had 0 buys, and 4 selling transactions for $1.32 million activity. $49,632 worth of Fifth Third Bancorp (NASDAQ:FITB) was sold by Hoover Jewell D. Tanner Teresa J. also sold $647,649 worth of Fifth Third Bancorp (NASDAQ:FITB) shares. On Friday, April 28 ANDERSON LARS C sold $247,943 worth of Fifth Third Bancorp (NASDAQ:FITB) or 10,079 shares.

Analysts await Fifth Third Bancorp (NASDAQ:FITB) to report earnings on October, 24 before the open. They expect $0.48 EPS, down 26.15% or $0.17 from last year’s $0.65 per share. FITB’s profit will be $353.57 million for 14.57 P/E if the $0.48 EPS becomes a reality. After $0.46 actual EPS reported by Fifth Third Bancorp for the previous quarter, Wall Street now forecasts 4.35% EPS growth.

Among 29 analysts covering Fifth Third (NASDAQ:FITB), 5 have Buy rating, 1 Sell and 23 Hold. Therefore 17% are positive. Fifth Third had 72 analyst reports since July 22, 2015 according to SRatingsIntel. The firm has “Mkt Perform” rating given on Wednesday, November 16 by Bernstein. The firm has “Hold” rating given on Friday, October 7 by Jefferies. Barclays Capital maintained the stock with “Equal Weight” rating in Tuesday, January 3 report. The company was maintained on Thursday, June 8 by Jefferies. The stock has “Hold” rating by Jefferies on Friday, August 11. Oppenheimer downgraded Fifth Third Bancorp (NASDAQ:FITB) on Wednesday, July 6 to “Perform” rating. On Tuesday, March 8 the stock rating was upgraded by Stephens to “Overweight”. The company was downgraded on Friday, October 2 by Goldman Sachs. The stock has “Buy” rating by RBC Capital Markets on Thursday, September 7. Citigroup maintained Fifth Third Bancorp (NASDAQ:FITB) rating on Monday, June 6. Citigroup has “Neutral” rating and $20 target.

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