Janus Henderson Group PLC Has $779.65 Million Holdings in Bank of America Corp (BAC)

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Janus Henderson Group PLC raised its stake in shares of Bank of America Corp (NYSE:BAC) by 74.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,655,967 shares of the financial services provider’s stock after buying an additional 11,842,467 shares during the quarter. Janus Henderson Group PLC owned about 0.27% of Bank of America worth $779,654,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Motley Fool Asset Management LLC acquired a new stake in Bank of America during the 2nd quarter valued at $3,058,000. Sullivan Bruyette Speros & Blaney LLC grew its holdings in Bank of America by 12.1% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 20,224 shares of the financial services provider’s stock valued at $570,000 after buying an additional 2,186 shares during the last quarter. Sawtooth Solutions LLC grew its holdings in Bank of America by 79.5% during the 2nd quarter. Sawtooth Solutions LLC now owns 27,110 shares of the financial services provider’s stock valued at $764,000 after buying an additional 12,007 shares during the last quarter. Tibra Equities Europe Ltd acquired a new stake in Bank of America during the 2nd quarter valued at $7,808,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Bank of America during the 2nd quarter worth $817,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

In other Bank of America news, insider Catherine P. Bessant sold 15,820 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $31.61, for a total transaction of $500,070.20. Following the transaction, the insider now owns 483,680 shares of the company’s stock, valued at approximately $15,289,124.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

Shares of Bank of America stock opened at $30.86 on Friday. Bank of America Corp has a fifty-two week low of $22.85 and a fifty-two week high of $33.05. The firm has a market cap of $316.02 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 0.91.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Monday, July 16th. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. Bank of America had a return on equity of 10.06% and a net margin of 20.86%. The company had revenue of $22.60 billion for the quarter, compared to analyst estimates of $22.49 billion. During the same quarter in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. analysts expect that Bank of America Corp will post 2.52 earnings per share for the current fiscal year.

Bank of America declared that its Board of Directors has authorized a share repurchase program on Thursday, June 28th that allows the company to buyback $20.60 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 7.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, September 6th. This is a positive change from Bank of America’s previous quarterly dividend of $0.12. Bank of America’s dividend payout ratio is currently 32.79%.

Bank of America Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small- and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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