Leucadia National Corp. (LUK) Position Decreased by Bank of New York Mellon Corp
Bank of New York Mellon Corp cut its stake in shares of Leucadia National Corp. (NYSE:LUK) by 10.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,640,343 shares of the company’s stock after selling 1,512,278 shares during the period. Bank of New York Mellon Corp owned about 3.51% of Leucadia National Corp. worth $240,671,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in LUK. Victory Capital Management Inc. raised its position in shares of Leucadia National Corp. by 45.5% in the third quarter. Victory Capital Management Inc. now owns 6,192 shares of the company’s stock valued at $118,000 after buying an additional 1,937 shares in the last quarter. Strs Ohio acquired a new position in shares of Leucadia National Corp. during the third quarter valued at $132,000. Daiwa Securities Group Inc. raised its position in shares of Leucadia National Corp. by 14.3% in the second quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock valued at $139,000 after buying an additional 1,000 shares in the last quarter. First Allied Advisory Services Inc. raised its position in shares of Leucadia National Corp. by 1.5% in the second quarter. First Allied Advisory Services Inc. now owns 10,335 shares of the company’s stock valued at $173,000 after buying an additional 150 shares in the last quarter. Finally, Cedar Wealth Management LLC raised its position in shares of Leucadia National Corp. by 51.8% in the second quarter. Cedar Wealth Management LLC now owns 10,170 shares of the company’s stock valued at $176,000 after buying an additional 3,470 shares in the last quarter. Hedge funds and other institutional investors own 71.54% of the company’s stock.
Shares of Leucadia National Corp. (NYSE:LUK) opened at 22.02 on Thursday. The firm’s 50-day moving average price is $19.53 and its 200 day moving average price is $18.52. Leucadia National Corp. has a 1-year low of $14.27 and a 1-year high of $22.05. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 188.21 and a beta of 1.37.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 28th. Stockholders of record on Wednesday, December 14th will be paid a dividend of $0.0625 per share. The ex-dividend date is Monday, December 12th. This represents a $0.25 annualized dividend and a dividend yield of 1.14%. Leucadia National Corp.’s dividend payout ratio (DPR) is 227.29%.
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Several equities analysts recently weighed in on the company. Zacks Investment Research lowered Leucadia National Corp. from a “buy” rating to a “sell” rating in a research note on Tuesday, August 23rd. Oppenheimer Holdings Inc. boosted their price objective on Leucadia National Corp. from $23.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, TheStreet upgraded Leucadia National Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th.
In other news, Chairman Joseph S. Steinberg sold 200,000 shares of the stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $19.04, for a total transaction of $3,808,000.00. Following the completion of the sale, the chairman now owns 1,992,687 shares in the company, valued at $37,940,760.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 9.50% of the company’s stock.
About Leucadia National Corp.
Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value creation to maximize shareholder value. The Company’s financial services businesses include Jefferies Group LLC (investment banking and capital markets), Leucadia Asset Management (asset management), Berkadia (commercial mortgage banking and servicing), FXCM (a publicly traded company providing online foreign exchange trading), HomeFed Corporation (HomeFed) (a publicly traded real estate company) and Foursight Capital and Chrome Capital (vehicle finance).
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