Total Wealth – Free Bassuk http://freebassuk.com/ Fri, 01 Jul 2022 11:21:12 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://freebassuk.com/wp-content/uploads/2021/07/icon.png Total Wealth – Free Bassuk http://freebassuk.com/ 32 32 TLW Wealth Management LLC strengthens its position in Alphabet Inc. (NASDAQ:GOOG) https://freebassuk.com/tlw-wealth-management-llc-strengthens-its-position-in-alphabet-inc-nasdaqgoog/ Fri, 01 Jul 2022 11:21:12 +0000 https://freebassuk.com/tlw-wealth-management-llc-strengthens-its-position-in-alphabet-inc-nasdaqgoog/ TLW Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get a rating) by 0.1% during the first quarter, HoldingsChannel reports. The fund held 5,623 shares of the information services provider after acquiring 7 additional shares during the quarter. Alphabet represents approximately 9.2% of TLW Wealth Management LLC’s holdings, making it […]]]>

TLW Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet a rating) by 0.1% during the first quarter, HoldingsChannel reports. The fund held 5,623 shares of the information services provider after acquiring 7 additional shares during the quarter. Alphabet represents approximately 9.2% of TLW Wealth Management LLC’s holdings, making it its 3rd largest position. TLW Wealth Management LLC’s holdings in Alphabet were worth $15,705,000 at the end of the last quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Hoese & Co LLP increased its position in Alphabet shares by 400.0% in the 4th quarter. Hoese & Co LLP now owns 10 shares of the information services provider worth $29,000 after buying 8 additional shares in the last quarter. Maryland Capital Advisors Inc. bought a new position in Alphabet shares in the 4th quarter for a value of approximately $29,000. Rather & Kittrell Inc. bought a new position in Alphabet stock in Q4 worth about $34,000. Paragon Capital Management Ltd bought a new position in Alphabet shares in Q4 for a value of around $35,000. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new position in Alphabet stock in Q4 for a value of approximately $37,000. Hedge funds and other institutional investors own 31.20% of the company’s shares.

Shares of GOOG opened at $2,187.45 on Friday. Alphabet Inc. has a one-year low of $2,044.16 and a one-year high of $3,042.00. The company has a 50-day moving average of $2,274.34 and a two-hundred-day moving average of $2,576.27. The stock has a market capitalization of $1.44 trillion, a price/earnings ratio of 19.79, a PEG ratio of 1.16 and a beta of 1.13. The company has a debt ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85.

Alphabet shares will be split on the morning of Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly issued shares will be issued to shareholders after the closing bell on Friday, July 15.

Alphabet (NASDAQ:GOOGGet a rating) last announced its results on Tuesday, April 26. The information services provider reported EPS of $24.62 for the quarter, missing the consensus estimate of $25.70 per ($1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The company posted revenue of $56.02 billion in the quarter, versus analyst estimates of $56.17 billion. In the same quarter a year earlier, the company had earned earnings per share of $26.29. Analysts expect Alphabet Inc. to post earnings per share of 110.83 for the current year.

Several analysts have recently weighed in on the stock. Wedbush reiterated an “outperform” rating on Alphabet shares in a Wednesday, April 20 research report. Oppenheimer reiterated an “outperform” rating and posted a $3,290.00 price target on Alphabet shares in a research report on Thursday, April 28. Canaccord Genuity Group cut its price target on Alphabet shares from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a Wednesday 27 research report april. Tigress Financial raised its price target on Alphabet shares from $3,540.00 to $3,670.00 in a Friday, March 18 research report. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Alphabet shares from $3,150.00 to $2,900.00 in a research report on Wednesday, April 27. Twenty-nine equity research analysts gave the stock a buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $3,315.38.

Separately, 2016 major shareholder Gp LLC Gv sold 544,249 shares of the company in a transaction that took place on Monday, April 11. The shares were sold at an average price of $11.16, for a total transaction of $6,073,818.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Also, please Prabhakar Raghavan sold 1,276 shares of the company in a transaction that took place on Monday, April 4. The stock was sold at an average price of $2,816.49, for a total transaction of $3,593,841.24. Following the sale, the senior vice president now owns 14,034 shares of the company, valued at $39,526,620.66. Disclosure of this sale can be found here. During the last quarter, insiders sold 551,653 shares of the company valued at $25,497,486. Company insiders hold 12.99% of the company’s stock.

Alphabet Company Profile (Get a rating)

Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

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Institutional ownership by quarter for Alphabet (NASDAQ:GOOG)



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iShares Core MSCI Total International Stock ETF (NASDAQ:IXUS) Short Interest Up 327.8% in June https://freebassuk.com/ishares-core-msci-total-international-stock-etf-nasdaqixus-short-interest-up-327-8-in-june/ Wed, 29 Jun 2022 12:01:05 +0000 https://freebassuk.com/ishares-core-msci-total-international-stock-etf-nasdaqixus-short-interest-up-327-8-in-june/ iShares Core MSCI Total International Stock ETF (NASDAQ:IXUS – Get a rating) was the target of strong short-term interest growth in June. As of June 15, there was short interest totaling 3,380,000 shares, a growth of 327.8% from the total of 790,000 shares as of May 31. Based on an average trading volume of 3,528,600 […]]]>

iShares Core MSCI Total International Stock ETF (NASDAQ:IXUS – Get a rating) was the target of strong short-term interest growth in June. As of June 15, there was short interest totaling 3,380,000 shares, a growth of 327.8% from the total of 790,000 shares as of May 31. Based on an average trading volume of 3,528,600 shares, the short-term interest rate ratio is currently 1.0 day.

Shares of iShares Core MSCI Total International Stock ETF opened at $57.58 on Wednesday. iShares Core MSCI Total International Stock ETF has a 52-week low of $55.92 and a 52-week high of $74.97. The stock’s 50-day simple moving average is $60.61 and its 200-day simple moving average is $65.39.

The company also recently announced a semi-annual dividend, which was paid on Wednesday, June 15. Shareholders of record on Friday, June 10 received a dividend of $0.948 per share. The ex-dividend date was Thursday, June 9.

A number of hedge funds have recently bought and sold shares of the company. Procyon Private Wealth Partners LLC increased its holdings in iShares Core MSCI Total International Stock ETF by 0.9% during the 4th quarter. Procyon Private Wealth Partners LLC now owns 20,565 shares of the company valued at $1,459,000 after purchasing an additional 192 shares last quarter. SOL Capital Management CO increased its holdings in iShares Core MSCI Total International Stock ETF by 3.8% during the 1st quarter. SOL Capital Management CO now owns 5,322 shares of the company valued at $354,000 after purchasing an additional 195 shares last quarter. New England Guild Wealth Advisors Inc. increased its holdings in iShares Core MSCI Total International Stock ETF by 0.6% during the fourth quarter. New England Guild Wealth Advisors Inc. now owns 35,761 shares of the company valued at $2,537,000 after buying an additional 202 shares last quarter. Courage Miller Partners LLC increased its holdings in iShares Core MSCI Total International Stock ETF by 1.9% during the 4th quarter. Courage Miller Partners LLC now owns 11,115 shares of the company valued at $745,000 after purchasing an additional 210 shares last quarter. Finally, SouthState Corp increased its holdings in iShares Core MSCI Total International Stock ETF by 8.5% during the 1st quarter. SouthState Corp now owns 3,192 shares of the company valued at $213,000 after buying an additional 250 shares in the last quarter.

(A d)

This stock offers a lot of potential in this bear market.

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The state of mergers and acquisitions https://freebassuk.com/the-state-of-mergers-and-acquisitions/ Mon, 27 Jun 2022 04:15:09 +0000 https://freebassuk.com/the-state-of-mergers-and-acquisitions/ Peter Mallouk is President and CEO of Creative Planning, LLC. and its affiliates. Creative Planning provides comprehensive wealth management services to its clients. These offerings include investment management, financial planning, charitable planning, pension consulting, tax services and estate planning services. Creative Planning manages or advises more than $225 billion in assets across all 50 states […]]]>

Peter Mallouk is President and CEO of Creative Planning, LLC. and its affiliates. Creative Planning provides comprehensive wealth management services to its clients. These offerings include investment management, financial planning, charitable planning, pension consulting, tax services and estate planning services. Creative Planning manages or advises more than $225 billion in assets across all 50 states and 65 countries, as of December 30, 2021.


Russ Alan Prince: Your company has had a wave of acquisitions over the past few years and is growing at such a rapid pace. Give us your perspective on the state of the M&A market.


Pierre Mallouk: We have seen massive consolidation in the industry over the past few years until recently mergers and acquisitions were on track to pick up every year. We saw mergers and acquisitions peak in the fourth quarter of 2021 when markets were strong, but after going through a pandemic and a series of government shutdowns, I think a lot of people started to realize how quickly their businesses could take a turning.

On top of all this, the typical advisor is older, the market is becoming more competitive, and investors want companies with strong technology, compliance, and services. This is all normal, but when you see it all happening at once, it creates quite a tense environment. Since the beginning of the year, mergers and acquisitions have slowed considerably, but we still see these normal trends at work. Internal succession planning has become more difficult, and advisors know they may need help to compete in this new era of wealth management.


Prince: What types of buyers are there and how does a seller choose the right one? What are you looking for as a buyer?


Mallouk: I always advise sellers to ask themselves three things before choosing a buyer.

First, you need to determine what works best for your customers. If your clients like hedge funds, for example, the buyer should be a company that includes that in their core offering. When selling, it is imperative to find a place that will provide customers with what they came to you for in the first place. Think about the customer and their expectations and ask yourself this question: will this sale allow me to offer my customers what they expect from us and hopefully more?

Second, think about what’s best for your team. Obviously, you want to provide your advisors with job security and make sure they feel like they have a role to play in the new firm, but it’s also important to think about finding a successor who can offer your employees the best development opportunities. When looking at a potential buyer, make sure you ask yourself if it is a business that is growing steadily and has natural room for growth for your employees.

Finally, it is important to think about what is best for you in the future. Do you want your brand to stay the same or are you happy to integrate it completely? Are you looking for cash? How long do you expect to work until retirement? Some companies will allow you to maintain your brand image and get cash without any onboarding, while others will require full onboarding – their brand is your brand and their offer is your offer. Answering these questions will help you find a business that will best suit your personal goals.


Prince: What is driving valuations and what trends are you seeing?


Mallouk: There are so many factors to consider when determining the value of a business. Even if two companies have the same assets, revenues or profits, it does not mean that they will have similar valuations. If one business grows and adds new customers and the other loses customers, it stands to reason that the former will be worth more in the long run. Additionally, a business with an average customer age of 40 will be worth more than a business with an average customer age of 80, and businesses with high turnover rates will be worth less than those with have strong retention.

Valuation is ultimately determined by three key factors: what the customer base looks like, whether money is flowing in or out of the business, and whether the business is on track to grow. The qualifications, background and age of those involved are obviously also important factors, but actual earnings play a much smaller role in determining the value of a business than you might imagine.

Given the current consolidation trend, which I predict will continue for some time, the market is becoming increasingly competitive. Similar to what is happening in the CPA landscape right now, I predict we will see several large companies, many strong regional companies, and thousands of smaller companies. These small businesses are going to have to specialize in some way to stand out – whether it’s offering a low-cost option, offering a premium service, or specializing in a certain type of practice, that’s where I see the RIA industry heading for the next 10-20 years.


Russ Alan Prince is the executive director of Private heritage magazine and content director for High Net Worth Genie. He consults family offices, quick-and-rich entrepreneurs and selected professionals.

To read more stories, click here

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State of the art of the market: an analysis of global auctions in the first five months of 2022 https://freebassuk.com/state-of-the-art-of-the-market-an-analysis-of-global-auctions-in-the-first-five-months-of-2022/ Sat, 25 Jun 2022 00:07:18 +0000 https://freebassuk.com/state-of-the-art-of-the-market-an-analysis-of-global-auctions-in-the-first-five-months-of-2022/ Artnet Price Database: From drawings by Michelangelo to paintings by Warhol, chairs by Le Corbusier to prints by Banksy, you’ll find over 14 million color illustrated fine art auction records dating back to 1985. Artnet covers over 1,800 auction houses and 385,000 artists, and every lot is checked by Artnet’s team of multilingual specialists. Whether […]]]>

Artnet Price Database: From drawings by Michelangelo to paintings by Warhol, chairs by Le Corbusier to prints by Banksy, you’ll find over 14 million color illustrated fine art auction records dating back to 1985. Artnet covers over 1,800 auction houses and 385,000 artists, and every lot is checked by Artnet’s team of multilingual specialists. Whether you’re appraising a collection, researching an artist’s market history, or pricing an artwork for sale, the Pricing Database will help you determine the value of art .

Disclosures: This material was published on June 16, 2022 and has been prepared for informational purposes only. The tables and graphs were published by ArtNet News in the Artnet Intelligence Report Spring 2022. The information and data contained in the material was obtained from sources outside Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley makes no representations or warranties as to the accuracy or completeness of information or data from sources outside of Morgan Stanley.

This material is not investment advice, nor does it constitute a recommendation, offer or advice regarding the purchase and/or sale of any work of art. It has been prepared without taking into account the personal financial situation and objectives of the people who receive it. It is not a recommendation to buy or sell artwork, nor should it be used to appraise any artwork. Investors should independently evaluate particular artworks, artwork investments and strategies, and should seek the advice of an appropriate third-party advisor for assistance in this regard, such as Morgan Stanley Smith Barney LLC, its affiliates, employees, and Morgan Stanley’s private financial and wealth advisors (“Morgan Stanley”) do not provide artwork, tax or legal advice. Tax laws are complex and subject to change. Investors should consult their tax advisor for matters relating to taxation and tax planning and their lawyer for matters relating to trusts and estate planning, charitable giving, philanthropic planning and other legal matters. . Morgan Stanley does not in any way assist in buying or selling art and merely provides information for investors interested in learning more about the different types of art markets at a high level. Any investor interested in buying or selling works of art should consult their own independent art advisor.

This document may contain forward-looking statements and there can be no guarantee that they will materialize.

Past performance is not a guarantee or indication of future results.

Due to their narrow targeting, sector investments tend to be more volatile than investments that diversify into many sectors and businesses. Diversification does not guarantee a profit or protect against losses in a declining financial market.

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Kiley Juergens Wealth Management LLC holds $1.82 million stake in Verizon Communications Inc. (NYSE:VZ) https://freebassuk.com/kiley-juergens-wealth-management-llc-holds-1-82-million-stake-in-verizon-communications-inc-nysevz/ Thu, 23 Jun 2022 11:07:37 +0000 https://freebassuk.com/kiley-juergens-wealth-management-llc-holds-1-82-million-stake-in-verizon-communications-inc-nysevz/ Kiley Juergens Wealth Management LLC reduced its holdings of Verizon Communications Inc. stock (NYSE: VZ – Get a rating) by 3.8% during the first quarter, HoldingsChannel.com reports. The company held 35,717 shares of the mobile operator after selling 1,414 shares during the quarter. Verizon Communications represents about 0.7% of Kiley Juergens Wealth Management LLC’s holdings, […]]]>

Kiley Juergens Wealth Management LLC reduced its holdings of Verizon Communications Inc. stock (NYSE: VZGet a rating) by 3.8% during the first quarter, HoldingsChannel.com reports. The company held 35,717 shares of the mobile operator after selling 1,414 shares during the quarter. Verizon Communications represents about 0.7% of Kiley Juergens Wealth Management LLC’s holdings, making the stock its 27th largest holding. Kiley Juergens Wealth Management LLC’s holdings in Verizon Communications were worth $1,819,000 when it last filed with the SEC.

Several other large investors also changed their positions in VZ. Norges Bank acquired a new position in shares of Verizon Communications during the 4th quarter for a value of approximately $1,884,917,000. Fisher Asset Management LLC increased its position in Verizon Communications shares by 19,095.1% during the fourth quarter. Fisher Asset Management LLC now owns 9,778,922 shares of the mobile operator worth $508,113,000 after buying an additional 9,727,977 shares last quarter. Charles Schwab Investment Management Inc. increased its position in Verizon Communications shares by 8.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 56,847,194 shares of the mobile operator worth $2,953,781,000 after buying 4,571,857 additional shares in the last quarter. State Street Corp increased its position in Verizon Communications shares by 2.6% during the fourth quarter. State Street Corp now owns 170,483,451 shares of the mobile operator worth $8,858,320,000 after buying an additional 4,312,242 shares last quarter. Finally, Renaissance Technologies LLC increased its position in Verizon Communications shares by 244.7% during the 4th quarter. Renaissance Technologies LLC now owns 5,848,271 shares of the mobile operator worth $303,876,000 after buying an additional 4,151,749 shares last quarter. Hedge funds and other institutional investors hold 63.78% of the company’s shares.

Shares of NYSE: VZ opened at $50.79 on Thursday. The company has a 50-day simple moving average of $50.12 and a 200-day simple moving average of $51.82. The company has a market capitalization of $213.30 billion, a price-earnings ratio of 9.86, a PEG ratio of 2.52 and a beta of 0.41. Verizon Communications Inc. has a one-year minimum of $45.55 and a one-year maximum of $56.85. The company has a debt ratio of 1.64, a current ratio of 0.76 and a quick ratio of 0.69.

Verizon Communications (NYSE: VZGet a rating) last released its quarterly earnings data on Friday, April 22. The mobile operator reported earnings per share of $1.35 for the quarter, hitting the consensus estimate of $1.35. The company posted revenue of $33.60 billion for the quarter, versus $33.61 billion expected by analysts. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. Verizon Communications revenue for the quarter increased 2.2% year-on-year. During the same quarter of the previous year, the firm had posted earnings per share of $1.31. As a group, analysts expect Verizon Communications Inc. to post EPS of 5.4 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 1. Shareholders of record on Friday, July 8 will receive a dividend of $0.64. The ex-dividend date is Thursday, July 7. This represents an annualized dividend of $2.56 and a dividend yield of 5.04%. Verizon Communications’ payout ratio is 49.71%.

VZ has been the subject of a number of recent analyst reports. Goldman Sachs Group downgraded Verizon Communications shares from a “buy” rating to a “neutral” rating and cut its price target for the stock from $61.00 to $55.00 in a Monday report April 25. Credit Suisse Group cut its price target on Verizon Communications shares from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday. Royal Bank of Canada cut its price target on Verizon Communications shares from $57.00 to $54.00 in a report released Wednesday. StockNews.com moved Verizon Communications shares from a “hold” rating to a “buy” rating in a Thursday, May 12, report. Finally, Wolfe Research cut its price target on Verizon Communications shares from $60.00 to $51.00 and set a “peer performance” rating for the company in a Thursday, June 2 report. Two analysts rated the stock with a sell rating, eleven gave the company a hold rating and four gave the company a buy rating. According to data from MarketBeat.com, Verizon Communications currently has an average rating of “Hold” and an average price target of $56.60.

In related news, CEO Tami A. Erwin sold 23,647 shares of Verizon Communications in a trade that took place on Tuesday, April 26. The stock was sold at an average price of $49.77, for a total value of $1,176,911.19. As a result of the transaction, the CEO now directly owns 21,817 shares of the company, valued at $1,085,832.09. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. Also, VPE Craig L. Silliman sold 1,558 shares of Verizon Communications in a trade that took place on Monday, May 23. The stock was sold at an average price of $50.00, for a total value of $77,900.00. Following completion of the transaction, the executive vice president now directly owns 36,519 shares of the company, valued at $1,825,950. Disclosure of this sale can be found here. Insiders sold 28,321 shares of the company valued at $1,415,192 in the past 90 days. 0.02% of the shares are held by insiders.

Verizon Communications Company Profile (Get a rating)

Verizon Communications Inc, through its subsidiaries, provides communications, technology, information and entertainment products and services to consumers, businesses and government entities worldwide. Its Consumer segment offers postpaid and prepaid service plans; Internet access on laptops and tablets; wireless equipment, including smartphones and other handsets; and wireless Internet devices, such as tablets, and other wirelessly connected devices including smart watches.

Further reading

Want to see which other hedge funds hold VZ? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Verizon Communications Inc. (NYSE: VZGet a rating).

Institutional ownership by quarter for Verizon Communications (NYSE:VZ)



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America’s Richest 1% Lose $1.5 Trillion on Stocks Ahead of Bear Market https://freebassuk.com/americas-richest-1-lose-1-5-trillion-on-stocks-ahead-of-bear-market/ Mon, 20 Jun 2022 20:45:29 +0000 https://freebassuk.com/americas-richest-1-lose-1-5-trillion-on-stocks-ahead-of-bear-market/ Even before U.S. stocks plunged into a full-fledged bear market this week, the nation’s top 1% was posting huge losses. The group’s overall wealth plunged $701 billion last quarter, the first drop since the start of 2020, led by $1.5 trillion in stock losses that were offset by gains in real estate and other assets, […]]]>

Even before U.S. stocks plunged into a full-fledged bear market this week, the nation’s top 1% was posting huge losses.

The group’s overall wealth plunged $701 billion last quarter, the first drop since the start of 2020, led by $1.5 trillion in stock losses that were offset by gains in real estate and other assets, according to new estimates from the Federal Reserve. It’s the abrupt end to the extraordinary two-year run that added more than $11 trillion to their collective net worth.

These numbers, while significant at first glance, underscore the amount of wealth extinguished in recent weeks among the top 1%, who own more than half of the stocks held by Americans. The S&P 500 index is down another 19% since March 31, while the tech-heavy Nasdaq 100 plunged another 24%. Both benchmarks recorded more modest declines of 5% and 9% in the first quarter, respectively.

“People are scared,” said Nicole Gopoian Wirick, financial planner and president of Prosperity Wealth Strategies. “No one wants to see their investment portfolio shrink by 20% or more. With wealthier customers, sometimes that drop is even deeper because it’s a big number.

Stock market losses have eaten away at the share of wealth controlled by the richest 1% of Americans, with that figure slipping to 31.8% at the end of the first quarter from a record 32.2% at the start of the year, according to Fed data. . Yet their collective net worth remained at nearly $45 trillion, more than the $43.5 trillion held by the bottom 90%. Apart from last year, the top 1% own a larger proportion of American wealth than at any time in central bank estimates dating back to 1989.

Those outside of America’s richest decile hold less than 12% of the stock, which has shielded them from volatility in the first three months of the year. However, the housing market, a key driver of pandemic-era wealth gains for the wealthy and middle class, has also cooled recently, with mortgage rates hitting their highest level since 2008 as the Fed tightens its monetary policy to deal with the highest inflation. in 40 years.

The wealthiest individuals, who have profited the most from the stock market’s run to 2021, offer a clue to the extent of the losses for the wealthy who hold large stock positions. Americans in the Bloomberg Billionaires Index have lost about $760 billion this year, including $690 billion since the end of the first quarter. The world’s richest person, Elon Musk, has seen his personal fortune plummet by $64.5 billion since the end of 2021, bringing his net worth to around $206 billion.

On the other hand, the poorest half of Americans increased their wealth again last quarter, continuing a trend that began when Covid-19 was first detected in the United States in early 2020 and that the federal government provided billions of dollars in relief and fueled hot work. market. The group’s net worth increased by $164 billion in the first three months of the year, to $3.9 trillion.

Other middle-class Americans, from the 50th to 90th percentile, also increased their net worth. The rest of the top 10% – also heavily exposed to the stock market – lost ground.

Over the past five years, the wealthy have enjoyed a breathtaking rise in the value of stocks and other assets. Even before the S&P 500 delivered total returns of 18% in 2020 and 29% in 2021, the index had returned 22% in 2017 and, after a single-digit decline in 2018, 31.5% in 2019.

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Truist Announces Acquisition of – GuruFocus.com https://freebassuk.com/truist-announces-acquisition-of-gurufocus-com/ Sun, 19 Jun 2022 03:34:31 +0000 https://freebassuk.com/truist-announces-acquisition-of-gurufocus-com/ CHARLOTTE, North Carolina, May 9, 2022 /PRNewswire/ — Truist Financial Corporation (NYSE: TFC) announced today that it will acquire all $1,350,000,000 outstanding principal amount of its 3.050% Senior Notes due June 20, 2022 (CUSIP 05531FBG7) on the redemption date of May 20, 2022. The redemption price of the Senior Notes will be equal to 100% […]]]>

CHARLOTTE, North Carolina, May 9, 2022 /PRNewswire/ — Truist Financial Corporation (NYSE: TFC) announced today that it will acquire all $1,350,000,000 outstanding principal amount of its 3.050% Senior Notes due June 20, 2022 (CUSIP 05531FBG7) on the redemption date of May 20, 2022.

The redemption price of the Senior Notes will be equal to 100% of their principal amount plus accrued and unpaid interest up to the excluded redemption date. Interest on the Senior Notes will cease to accrue from the date of redemption.

Payment of the redemption price for the Senior Notes will be made through the services of The Depository Trust Company.

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist holds a dominant market share in many high-growth markets nationwide. The company offers a wide range of services, including retail, small business and corporate banking; asset Management; capital markets; commercial real estate; corporate and institutional banking; Insurance; mortgage; Payments; specialized loans; and wealth management. Based at Charlotte, North CarolinaTruist is a top 10 US commercial bank with total assets of $544 billion of the March 31, 2022. Truist Bank, Member FDIC. Learn more about Truist.com.

Show original content:https://www.prnewswire.com/news-releases/truist-announces-redemption-of-senior-notes-due-june-2022-301542939.html

SOURCE Truist Financial Corporation

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Live your best life this summer with the BMO eclipse Visa Infinite* Card https://freebassuk.com/live-your-best-life-this-summer-with-the-bmo-eclipse-visa-infinite-card/ Fri, 17 Jun 2022 15:30:00 +0000 https://freebassuk.com/live-your-best-life-this-summer-with-the-bmo-eclipse-visa-infinite-card/ BMO offers a lifestyle rewards card with five times the points on everyday purchases, to help Canadians celebrate the little moments, the big moments and everything in between 84% of Canadians consider the rewards offered as the most important consideration when choosing a credit card BMO and Visa Canada showcase interactive 3D sculpture at four […]]]>
  • BMO offers a lifestyle rewards card with five times the points on everyday purchases, to help Canadians celebrate the little moments, the big moments and everything in between

  • 84% of Canadians consider the rewards offered as the most important consideration when choosing a credit card

  • BMO and Visa Canada showcase interactive 3D sculpture at four major events across Canada departure June 17

TORONTO, June 17, 2022 /CNW/ – Canadians are back to their favorite activities this summer and the BMO Eclipse Visa Infinite The card helps them get the most out of life with five times the reward points on everyday purchases like meals, public transportation, groceries and gas. Designed to meet the everyday needs of Canadians and offer greater earning potential and flexibility on rewards, the card allows customers to earn and redeem points to help them celebrate the little moments, the big ones. times and everything else.

A recent survey by BMO revealed that 85% of Canadians will celebrate at least one special occasion this summer and that credit cards are the main source of payment for lifestyle expenses, with 62% of consumers using credit when ‘they dine at restaurants and 58% cent for entertainment. The survey found that more than half of consumers use credit cards for regular purchases such as groceries (59%), gas (58%) and miscellaneous purchases (51%), and 40% use credit cards for household bills.

“We found that when customers research a credit card, the rewards offered are the most important consideration, with 84% saying it’s imperative. With the BMO eclipse Visa Infinite card, cardholders can redeem points more often and more easily redeem points for everyday items like morning coffee, a candy bar, new clothes or more important things like concert tickets or travel,” said Jennifer Douglas, Head of North American Personal and Small Business Payments, BMO. “The BMO eclipse Visa Infinite Card allows customers to enjoy exclusive benefits that reward their everyday purchases when they need it most.”

The BMO eclipse Visa Infinite Card entitles cardholders to access dining and entertainment benefits including unique culinary events with top chefs at top restaurants and wineries nationwide, complimentary tastings at select wineries in OntarioBC and Sonoma, Californiaand pre-sale access to TIFF tickets and packages as well as the Princess of Wales Theater Visa Screening Room Priority Queue and Lounge during the Toronto International Film Festival.

Big plans for summer 2022

The BMO survey also revealed that:

  • Eating out or ordering takeout tops the list of things to do this summer, with two-thirds of consumers doing it at least once a month (66% dining out and 68% taking out) and about a quarter doing so each week (21% go to a restaurant and 25% take out meals).

  • Many Canadians plan to enjoy entertainment this summer, either by visiting local tourist attractions (74%), taking day trips (77%), going to festivals (55%) or going to concerts (50%).

Get “more life” with the BMO eclipse Visa Infinite card

To help consumers discover “more life” this summer, BMO and Visa are offering Canadians an interactive experience with a one-of-a-kind 3D anamorphic sculpture at four events across the country, starting today.

The 3D installation, by artist Yumi Kamia, will look like the pop of a champagne bottle made up of everyday objects. It will appear during the following events:

* Registered trademark of Visa International Service Association and used under license.

About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $1.04 trillion as of April 30, 2022 and a diverse and highly engaged team of employees, BMO offers a wide range of personal and commercial banking, wealth management and investment banking products and services. investment to more than 12 million customers and leads through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

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Could Retail Bagholders Trigger a Smart Money Rally? https://freebassuk.com/could-retail-bagholders-trigger-a-smart-money-rally/ Wed, 15 Jun 2022 05:08:00 +0000 https://freebassuk.com/could-retail-bagholders-trigger-a-smart-money-rally/ There would be deliciously karmic justice in “dumb money” driving a rally that forced “smart money” to cover their shorts and chase the rally that shouldn’t even be happening. To be cursed with contrarianism, as soon as a trade is crowded and the consensus is one sided, I start looking for what is considered so […]]]>

There would be deliciously karmic justice in “dumb money” driving a rally that forced “smart money” to cover their shorts and chase the rally that shouldn’t even be happening.

To be cursed with contrarianism, as soon as a trade is crowded and the consensus is one sided, I start looking for what is considered so unlikely that it is essentially “impossible”. Sorry, I can’t help it.

Crowded trades are 1) long the super cycle of raw materials, and 2) long hurricane force recession for all the compelling reasons we all know: global shortages, geopolitical tensions, soaring interest rates, risk reduction, crazy and stupid levels of debt and speculation, etc.

The consensus holds that “Smart Money” has moved from tech stocks and other overvalued stocks to and . It was a smart move, indeed, and the sooner you moved from stocks to commodities, the smarter the trade.

In this scenario, the stock retail owners are the “bag holders”, those who continue to own the losers to the bottom (been there and done that).

It’s a market truism that bull cycles only end when retail drinks the speculative Kool-Aid of the moment and buys into the last gasp of the rally, allowing “Smart Money” to distribute their stock to the idiots retail, which go down with the ship when the market finally rolls.

2022 followed this scenario closely: as they have been crushed, down 20% to 35%, and Wall Street sentiment is extremely bearish, retail owners have not followed hedge funds in selling stocks.

In the Bagholder/Smart Money script, the market can now descend into a bear market as liquidity dries up and buyers disappear, leaving Bagholders to absorb mounting losses.

Maybe this script is running, maybe not. The opposite has these observations:

1. The institutions have yet to liquidate their positions in Apple (NASDAQ:) and other Big Tech stalwarts. There have been cuts around the edges and that is why these stocks have been pounded by selling. But liquidation? Not yet. These companies are still quasi-monopolies and still immensely profitable.

2. The mood on Wall Street could be extremely bearish (The mood on Wall Street has never been so apocalyptic), but the richest 10% of households who own about 90% of financial assets may not be as close to panic as many seem to think. (Note that the majority of this wealth is held by the top 5% – the segment between 6% and 10% owns a relatively small share of household wealth.)

A. Many of these households are old enough to have experienced the bear market/dot-com crash of 2000-2003 and the global financial meltdown of 2008-09, aka the global financial crisis. They survived, and the conclusion for many is that basic investment strategies are resilient to downturns: avoid highly speculative modes (meme stocks, NFTs, dodgy cryptos, etc.), diversify, and patiently ride out the storm.

B. Overall, these households did not speculate on meme stocks, NFTs, etc. investors than to their total assets.

C. Most of these households have multiple sources of income and stores of wealth. Even major stock declines do not threaten their financial security. Rightly or wrongly, their experience is that even the darkest crises do not last.

D. Their gains are so prodigious that even a 30% drop in every asset – real estate, stocks, bonds, precious metals – still leaves a large portion of their gains untouched. For example, if the house you bought in the late 1990s for $200,000 is now worth over $1 million, a 30% drop to $700,000 still leaves you with a margin of $500,000.

E. Because of their incomes and range of assets, these households can increase their investment positions in ways that the bottom 90% cannot.

3. Commodities are priced at the margin, and a sharp drop in demand combined with a modest increase in supply could result in price declines that anyone who bought into the Commodity Super-Cycle will not. not even think possible, let alone probable. But if supply drops 5% and demand drops 10%, prices crash once speculative hot air deflates the premium for leveraged speculative money.

All of this creates the potential for “Bagholders” to “buy the dip” in stocks aggressively enough that “Smart Money” is forced to cover their short positions and continue the rally. This will be frustrating for “Smart Money:” don’t these fools know we are heading into recession and they should panic sell?

This will be frustrating for another reason: The whole point of distributing to Bagholders is to accrue profits and then wait for Bagholders to sell at the bottom, either in panic or desperation. Then the Smart Money picks up the assets at bargain prices and waits for the burnt-out but still greedy Bagholders to come back.

There would be deliciously karmic justice in “dumb money” driving a rally that forced “smart money” to cover their shorts and chase the rally that shouldn’t even be happening, damn it. Stranger things have happened.

10% ownership

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Comerica Bank Announces Additional Changes in Retail Banking Transformation | New https://freebassuk.com/comerica-bank-announces-additional-changes-in-retail-banking-transformation-new/ Mon, 13 Jun 2022 16:05:00 +0000 https://freebassuk.com/comerica-bank-announces-additional-changes-in-retail-banking-transformation-new/ DALLAS, June 13, 2022 /PRNewswire/ — In response to the changing retail and small business banking landscape, Comerica Incorporated (NYSE: CMA) announced additional changes to its Retail Banking division to improve how it supports customers and small businesses, builds more meaningful relationships and serves as a partner within its communities. “As we constantly assess how […]]]>

DALLAS, June 13, 2022 /PRNewswire/ — In response to the changing retail and small business banking landscape, Comerica Incorporated (NYSE: CMA) announced additional changes to its Retail Banking division to improve how it supports customers and small businesses, builds more meaningful relationships and serves as a partner within its communities.

“As we constantly assess how we serve our customers, the accelerating pace of change requires us to act with even greater urgency. Within our retail banking, we continue to focus on transforming the delivery of our services, aligning the right resources to better serve our customers and focusing on small businesses,” said Cassandra McKinneyExecutive Director of Retail Banking at Comerica Bank.

“We are at the start of a multi-year modernization journey, as discussed during our first quarter earnings call,” McKinney continued. “Whether it’s clarifying co-worker roles and improving processes, investing in marketing and technology, or building capabilities that will help us deepen and grow our customer base, we’re reimagining everything that has an impact on our customers and the best way to empower our colleagues. on the strengths of our team of bankers who work hard every day to build relationships and deliver solutions.”

Since March 2022Comerica has transformed its Retail leadership team under the leadership of Cassandra McKinneyexecutive director of retail banking with the addition of several new roles to his roster, which includes a veteran leader Rhonda Davenport, National Director of Retail Banking. New leaders include: Omar SalahDirector, Small Business Banking; Therese BazanNational Director of Sales Enablement for Retail and Small Business Banking; Dharmesh PatelDirector of Retail Business Services; Brian Haney, Strategy & Transformation Director; and James Johnsondirector of risk management and retail operations.

Comerica’s retail banking transformation also involves:

  • Add more focused roles, such as small business bankers in strategic locations, that allow colleagues to spend more quality time with clients and develop deeper, more meaningful relationships.
  • Redevelop Colleagues in the Areas Most Important to Customers: Comerica invests significantly in the expertise of its colleagues to provide customers with the information, products and services they need.
  • Implement various technology and process improvements that will help streamline customer interactions and minimize friction, such as significant updates to our web and mobile banking platforms.
  • Rethink the banking center model to optimize customer experiences, address unmet customer needs, serve its communities and drive growth.

An example of the various initiatives undertaken in recent years by Comerica to identify and leverage technological innovations to better meet the needs of its customers is its introduction of Banker Connect Interactive Teller Machines (ITM). Comerica first pioneered this ITM concept seven years ago, introducing technology that combines traditional ATM capabilities with the ability to interact in real time with a customer service representative via a live video stream to perform transactions with extended hours. During the pandemic, Comerica accelerated the expansion of its ITM network in response to changing customer needs. Learn more about Banker Connect here.

“In addition to our transformation efforts, we are constantly reviewing our network to ensure that we have banking centers strategically located in the communities we serve based on customer needs, population and traffic patterns. Where demand is not as strong, we are consolidating locations. We can then reallocate those resources to conquer and serve our markets more effectively or expand into new areas. We are also reinvesting in initiatives to streamline banking center processes, add more focused roles, improve digital channels and diversify our products, thereby improving the customer experience. and enabling colleagues to work more efficiently,” McKinney said.

Changes impacting Comerica’s banking center network include the consolidation of 22 of its existing 432 U.S. locations in three of its retail markets, expected to be completed in September 2022: 3 in California11″ Michiganand 8″ Texas.

While these adjustments to Comerica’s banking center network represent a change, Comerica Bank remains resolutely focused on being a strong partner and trusted advisor to all of its clients, now and in the future. Customers served by the affected locations can choose from a variety of options available for banking, including other local banking centers, and via Web Banking, Mobile Banking, telephone, Banker Connect ITM or ATM.

Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, TX, and strategically aligned with three business segments: commercial banking, retail banking and wealth management. Comerica focuses on relationships and helping people and businesses succeed. In addition to TexasComerica Bank branches are located in Arizona, California, Florida and Michiganwith selected companies operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $89.2 billion of the March 31, 2022.

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SOURCE Comerica Incorporated

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