We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not always available for the general crowd. This doesn’t mean that they don’t have occasional colossal losses; they do. However, it is still a good idea to keep an eye on hedge fund activity. With this in mind, let’s examine the smart money sentiment towards Edgewell Personal Care Company (NYSE:EPC) and determine whether hedge funds skillfully traded this stock.

Is Edgewell Personal Care Company (NYSE:EPC) a good stock to buy now? Investors who are in the know were selling. The number of bullish hedge fund bets were trimmed by 5 lately. Edgewell Personal Care Company (NYSE:EPC) was in 20 hedge funds’ portfolios at the end of the second quarter of 2020. The all time high for this statistics is 37. Our calculations also showed that EPC isn’t among the 30 most popular stocks among hedge funds (click for Q2 rankings and see the video for a quick look at the top 5 stocks). Video: Watch our video about the top 5 most popular hedge fund stocks.

If you’d ask most traders, hedge funds are viewed as worthless, old financial vehicles of the past. While there are more than 8000 funds trading at the moment, We choose to focus on the top tier of this group, approximately 850 funds. It is estimated that this group of investors control bulk of the hedge fund industry’s total asset base, and by tracking their finest stock picks, Insider Monkey has discovered many investment strategies that have historically outrun Mr. Market.



REUTERS/Toby Melville


© REUTERS/Toby Melville
REUTERS/Toby Melville

  • The London Stock Exchange agreed to sell Italy’s only stock market platform to Paris-headquartered Euronext for about $5 billion.
  • LSE said it opted to divest the Milan stock exchange to fulfill a condition for its acquisition of  data-provider Refinitiv, which is currently under review by the European Union’s executive arm.
  • The deal is politically sensitive, as the Italian government was debating whether to take back full control of Borsa Italiana earlier this year.
  • Euronext has partnered with Italy’s largest bank and state agency CDP to secure the Italian government’s backing.
  • Visit Business Insider’s homepage for more stories.

The London Stock Exchange agreed on Friday to sell Milan’s Borsa Italiana to pan-European stock operator Euronext for 4.3 billion euros ($5 billion).  

Loading...

Load Error

The LSE said it began discussions with Paris-based Euronext last month and a share purchase agreement was signed on October 9.

The sale depends on LSE’s prospective $27 billion acquisition of data provider Refinitiv, the terms of which are under investigation by the European Commission. 

LSE said it opted to divest the Italian stock exchange to persuade the EU regulator to approve its takeover of Refinitiv.

“We believe the sale of the Borsa Italiana group will contribute significantly to addressing the EU’s competition concerns,” LSE CEO David Schwimmer said in a statement, adding that the exchange is making “good progress” on the Refinitiv deal.

The Refinitiv transaction is expected to be completed by early next year, while the Borsa Italiana deal is set to clear in the first half of 2021. 

Read moreCiti’s US equities chief warns of an ‘extreme peak’ in earnings revisions heading into the crucial reporting season — and explains why it makes stocks vulnerable to a pullback in the weeks ahead

Euronext, valued at about 7 billion

Customers can find a vast range of goods at Walmart (NYSE:WMT). Starting next week, they will be able to put a health insurance policy in their shopping cart, too.

The big retailer announced Tuesday that it is launching Walmart Insurance Services, a licensed brokerage, on Thursday, Oct. 15. The unit, which is licensed in all 50 states plus the District of Columbia, will begin by selling Medicare insurance plans. The start date is no accident, as that is the beginning of Medicare’s Annual Enrollment Period (which runs through Dec. 7).

In that initial stage, Walmart Insurance Services will sell Medicare plans from a variety of well-known providers, including but not limited to Humana, Anthem, and UnitedHealth Group‘s UnitedHealthcare. The company says more might be added in the future.

Stethoscope atop US currency and insurance claim form

Image source: Getty Images.

The initial concentration on Medicare plans is in character for Walmart, which for years has been resolutely focused on budget-conscious customers. Accordingly, the company played up the potential money-saving aspects of its new service, citing recent research from eHealth indicating that one in 10 Medicare beneficiaries has a plan that is the most cost-effective in terms of out-of-pocket spending.

“Helping customers select the right Medicare insurance plan to meet their needs aligns with Walmart’s mission of helping people save money and live better,” the company wrote in the press release announcing the new service.

On Tuesday, Walmart’s shares fell by 0.8%. This, however, bettered the S&P 500 index, which declined by 1.4% on the day.

Source Article

Text size

Weir made its major entry into the North American oil-and-gas sector in 2007, purchasing SPM Flow Control as oil prices were approaching their zenith.


Getty Images


Weir Group

will exit the hydrocarbon industry by selling its oil-and-gas division to

Caterpillar

for $405 million, leaving the Scottish engineer to focus on its core mining business.

The sale is part of a strategic transformation by

Weir

as the oil-and-gas sector remains in a rut. Shares in the Glasgow-based group soared as much as 25% in London trading.

The back story. FTSE 250 constituent Weir made its major entry into North American oil and gas in 2007, purchasing SPM Flow Control as oil prices were approaching their zenith. In 2014, the division accounted for around half of the company’s profits.

In February the company took a £546 million ($707 million) write-down on the division amid a downturn in the North American industry, and it said it planned to “maximize value” from the business to focus purely on mining.

Weir’s announcement that it intended to leave the oil-and-gas sector came as climate change was putting increasing pressure on the industry, but before the coronavirus pandemic caused demand to drop dramatically. Oil supermajor

BP

said in February it planned to be net zero by 2050, and

Royal Dutch Shell

has since followed suit.

Plus:Royal Dutch Shell to Cut up to 9,000 Jobs as Oil Slump Accelerates Green Energy Drive.

What’s new. Caterpillar, a Fortune 100 equipment manufacturing giant, will purchase Weir’s Texas-based division, which includes more than 40 locations and around 2,000 employees. The business primarily makes pumps and other drilling equipment. Weir said that the sale, expected to complete before the end of the year, will bring the company a $70 million cash tax benefit in the U.S.

Weir shareholders must

(Bloomberg) —



a sign on the side of a building: The Nordea Bank Abp logo stands on top of a building in Helsinki, Finland, on Thursday, Feb. 6, 2020. Finnish household debt has doubled in the past two decades against a backdrop of falling interest rates and the gradual obsolescence of cash as a form of payment.


© Bloomberg
The Nordea Bank Abp logo stands on top of a building in Helsinki, Finland, on Thursday, Feb. 6, 2020. Finnish household debt has doubled in the past two decades against a backdrop of falling interest rates and the gradual obsolescence of cash as a form of payment.

Nordea Bank Abp’s largest shareholder, Finnish investment company Sampo Oyj, may consider selling its stake in the bank in the coming years, Swedish daily Dagens Industri reported.

Loading...

Load Error

Sampo is testing the water ahead of a potential sale, which could happen within the next two years, according to the report, which cited anonymous sources.

Sampo, which also owns the Sweden-based insurance company If, as well as almost half of Danish insurer Topdanmark A/S, holds 19.9% of Nordea’s outstanding shares. That makes it by far the largest shareholder in the bank, ahead of activist investor Cevian Capital, which has built a 4.4% stake since making its first purchases late 2018.

Since Torbjorn Magnusson took over as chief executive officer in January, Sampo has been led by executives with a background in the insurance industry, and a Nordea divestment could be attractive as a way to further increase its focus on that industry. Sampo agreed to buy a majority stake in the U.K. non-life insurer Hastings Group Holdings Plc in August, and said the deal was “a step in the strategy to allocate more capital to property and casualty insurance.”

For more articles like this, please visit us at bloomberg.com

©2020 Bloomberg L.P.

Continue Reading

Source Article