Tegean Capital Management Has Cut Stake in Ofg Bancorp (OFG) as Stock Value Rose; General Electric Co (GE) Valuation Declined While Solaris Asset Management Increased Holding by $412,250

April 17, 2018 - By Louis Casey

General Electric Company (NYSE:GE) Logo

Solaris Asset Management Llc increased its stake in General Electric Co (GE) by 252.11% based on its latest 2017Q4 regulatory filing with the SEC. Solaris Asset Management Llc bought 24,250 shares as the company’s stock declined 23.20% with the market. The institutional investor held 33,869 shares of the consumer electronics and appliances company at the end of 2017Q4, valued at $591,000, up from 9,619 at the end of the previous reported quarter. Solaris Asset Management Llc who had been investing in General Electric Co for a number of months, seems to be bullish on the $119.66B market cap company. The stock increased 3.38% or $0.45 during the last trading session, reaching $13.78. About 37.76M shares traded. General Electric Company (NYSE:GE) has declined 54.35% since April 17, 2017 and is downtrending. It has underperformed by 65.90% the S&P500.

Thomas G. Maheras decreased its stake in Ofg Bancorp (OFG) by 22.73% based on its latest 2017Q4 regulatory filing with the SEC. Tegean Capital Management Llc sold 239,349 shares as the company’s stock rose 12.77% while stock markets declined. The hedge fund run by Thomas G. Maheras held 813,651 shares of the major banks company at the end of 2017Q4, valued at $7.65 million, down from 1.05 million at the end of the previous reported quarter. Tegean Capital Management Llc who had been investing in Ofg Bancorp for a number of months, seems to be less bullish one the $523.22 million market cap company. The stock decreased 1.24% or $0.15 during the last trading session, reaching $11.9. About 87,126 shares traded. OFG Bancorp (NYSE:OFG) has declined 4.07% since April 17, 2017 and is downtrending. It has underperformed by 15.62% the S&P500.

Since January 26, 2018, it had 1 insider purchase, and 0 sales for $43,446 activity.

Solaris Asset Management Llc, which manages about $176.47M US Long portfolio, decreased its stake in Ishares S&P Midcap 400 (IJH) by 15,080 shares to 845 shares, valued at $160,000 in 2017Q4, according to the filing. It also reduced its holding in Darden Restaurants Inc (NYSE:DRI) by 4,060 shares in the quarter, leaving it with 8,192 shares, and cut its stake in Iac Interactive (NASDAQ:IACI).

Among 28 analysts covering General Electric Company (NYSE:GE), 8 have Buy rating, 6 Sell and 14 Hold. Therefore 29% are positive. General Electric Company had 99 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Focus List” rating on Wednesday, September 16 by Credit Suisse. RBC Capital Markets maintained General Electric Company (NYSE:GE) on Friday, September 15 with “Buy” rating. The stock of General Electric Company (NYSE:GE) earned “Hold” rating by Stifel Nicolaus on Tuesday, January 30. Vetr downgraded General Electric Company (NYSE:GE) rating on Tuesday, September 22. Vetr has “Hold” rating and $25.84 target. The rating was maintained by on Monday, October 10 with “Buy”. The company was downgraded on Tuesday, October 24 by Oppenheimer. As per Monday, February 12, the company rating was maintained by JP Morgan. On Tuesday, October 24 the stock rating was downgraded by Stifel Nicolaus to “Hold”. The rating was upgraded by Standpoint Research on Thursday, June 29 to “Hold”. The rating was maintained by Deutsche Bank with “Sell” on Monday, October 30.

Investors sentiment decreased to 0.5 in Q4 2017. Its down 0.19, from 0.69 in 2017Q3. It turned negative, as 153 investors sold GE shares while 921 reduced holdings. 151 funds opened positions while 383 raised stakes. 4.69 billion shares or 0.29% less from 4.70 billion shares in 2017Q3 were reported. Mngmt Pro owns 8,133 shares. Ohio-based Truepoint has invested 0.08% in General Electric Company (NYSE:GE). Twin Tree Mngmt Limited Partnership has 0.05% invested in General Electric Company (NYSE:GE). Stevens Mngmt Limited Partnership reported 1.19M shares or 0.81% of all its holdings. Ally Financial owns 705,000 shares for 2.38% of their portfolio. Acadian Asset Management Ltd Liability Com holds 98,693 shares. Kayne Anderson Rudnick Invest Mgmt Ltd Llc invested in 32,849 shares. Coastline invested 0.18% of its portfolio in General Electric Company (NYSE:GE). M accumulated 114,831 shares or 0.07% of the stock. Ssi Management reported 0.03% in General Electric Company (NYSE:GE). Salient Trust Lta reported 210,719 shares. Gm Advisory Grp accumulated 0.23% or 47,946 shares. 223,185 were accumulated by Cambridge Trust. Fred Alger Mngmt Incorporated holds 0.01% of its portfolio in General Electric Company (NYSE:GE) for 129,681 shares. Sol Mgmt Communication has invested 0.71% of its portfolio in General Electric Company (NYSE:GE).

Investors sentiment decreased to 1.05 in Q4 2017. Its down 0.04, from 1.09 in 2017Q3. It dropped, as 15 investors sold OFG shares while 47 reduced holdings. 22 funds opened positions while 43 raised stakes. 39.29 million shares or 1.02% less from 39.70 million shares in 2017Q3 were reported. Envestnet Asset Management invested 0% in OFG Bancorp (NYSE:OFG). Neuberger Berman Ltd holds 0% of its portfolio in OFG Bancorp (NYSE:OFG) for 15,845 shares. Hotchkis And Wiley Cap Management Limited Liability invested 0% in OFG Bancorp (NYSE:OFG). Polaris Capital Mngmt Ltd Llc accumulated 271,100 shares. 2,861 were reported by Sei Investments. Minnesota-based Walleye Trading Llc has invested 0% in OFG Bancorp (NYSE:OFG). Pub Sector Pension Investment Board accumulated 27,821 shares. Smith Asset Ltd Partnership has invested 0.01% in OFG Bancorp (NYSE:OFG). Bridgeway Capital Mngmt reported 187,200 shares. Shell Asset Mgmt Co has invested 0.01% in OFG Bancorp (NYSE:OFG). Federated Pa has invested 0% in OFG Bancorp (NYSE:OFG). Moreover, Goldman Sachs Grp has 0% invested in OFG Bancorp (NYSE:OFG). Schneider Mgmt reported 46,227 shares. Citadel Advsr Ltd Llc holds 16,744 shares. Metropolitan Life Insur New York holds 0% or 10,347 shares.

Among 7 analysts covering Oriental Financial Group Inc (NYSE:OFG), 6 have Buy rating, 0 Sell and 1 Hold. Therefore 86% are positive. Oriental Financial Group Inc had 17 analyst reports since July 27, 2015 according to SRatingsIntel. Piper Jaffray maintained it with “Hold” rating and $11.5 target in Friday, October 6 report. The firm earned “Buy” rating on Monday, October 30 by Sandler O’Neill. The company was upgraded on Tuesday, November 28 by Wood. Sandler O’Neill maintained OFG Bancorp (NYSE:OFG) on Monday, March 5 with “Buy” rating. The firm has “Hold” rating by Keefe Bruyette & Woods given on Wednesday, September 6. The stock of OFG Bancorp (NYSE:OFG) has “Neutral” rating given on Friday, April 8 by Piper Jaffray. On Wednesday, June 28 the stock rating was maintained by Keefe Bruyette & Woods with “Hold”. The stock of OFG Bancorp (NYSE:OFG) earned “Hold” rating by Piper Jaffray on Tuesday, February 27. The rating was maintained by Keefe Bruyette & Woods on Friday, May 26 with “Hold”. The company was maintained on Wednesday, January 31 by Piper Jaffray.

Analysts await OFG Bancorp (NYSE:OFG) to report earnings on April, 20 before the open. They expect $0.20 earnings per share, down 23.08% or $0.06 from last year’s $0.26 per share. OFG’s profit will be $8.79M for 14.88 P/E if the $0.20 EPS becomes a reality. After $0.37 actual earnings per share reported by OFG Bancorp for the previous quarter, Wall Street now forecasts -45.95% negative EPS growth.

Tegean Capital Management Llc, which manages about $366.79 million and $202.80 million US Long portfolio, upped its stake in Assured Guaranty Ltd (NYSE:AGO) by 82,500 shares to 482,500 shares, valued at $16.34M in 2017Q4, according to the filing.

OFG Bancorp (NYSE:OFG) Institutional Positions Chart

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