Investor sentiment splits
Great Lakes Advisors Trims Holdings in Four Firms While Other Investors Boost Stakes
Anonymous
Key Points
1
On Avery Dennison (AVY), other investors were adding even as Great Lakes cut its position: Aviva PLC increased its stake by 12.6% to 69,030 shares (worth about $12.56M), while Sepio Capital LP boosted by 26.2% to 6,949 shares (worth about $1.26M), according to the fund’s 13F-based reporting.
2
On Public Storage (PSA), Vanguard Group stood out among buyers: it raised its position by 9.9% to 25,343,098 shares (about $6.58B), while Norges Bank purchased a new stake valued at roughly $1.16B and Capital International Investors increased by 821.4% to 4,134,996 shares (about $1.07B).
3
For SS&C Technologies (SSNC), the reporting notes that hedge funds and other institutional investors own 96.90% of the stock, and Atlanta Consulting Group Advisors LLC opened a new, smaller stake worth about $332,000 during the quarter.
4
Analyst coverage for Public Storage (PSA) included multiple specific target/rating calls that underscore the “restrained” stance referenced in the summary: JPMorgan Chase cut its price target from $295 to $291 and kept a “neutral” rating; BMO reiterated “market perform”; William Blair set a $305 target; and Mizuho increased its target from $301 to $316 while also assigning a “neutral” rating.
Great Lakes Advisors LLC quietly trimmed its positions in four major stocks during the most recent quarter, cutting holdings in Avery Dennison, Public Storage, SS&C Technologies, and State Street by between 3.1% and 4.3%, according to Watchlist News and Ticker Report. The firm's largest remaining bet is on State Street, where its 485,508 shares are worth about $62.6 million.
The cuts were modest — none exceeded 4.3% — but they stand out because other big investors were buying the same stocks at the same time. That split signals a market where smart money is divided on where to go next.
Great Lakes Trims Four Stocks Across Four Sectors
Great Lakes sold down its Avery Dennison stake by 3.7%, landing at 108,061 shares worth about $19.7 million, according to Watchlist News. It cut Public Storage by 4.3% to 128,038 shares, now valued at roughly $33.2 million. SS&C Technologies dropped 4.0% to 403,980 shares at about $35.3 million. State Street fell 3.1% to 485,508 shares, the firm's biggest position at $62.6 million.
None of these are panic sells. They look more like careful pruning — shaving a few percentage points to reduce exposure without abandoning the stocks entirely. The firm still holds hundreds of thousands of shares in each company.
While Great Lakes Sold, Giants Like Vanguard Bought Big
The contrast with other big investors is striking. Vanguard Group raised its Public Storage position by 9.9% to 25,343,098 shares worth about $6.58 billion, according to Ticker Report. Norway's sovereign wealth fund, Norges Bank, opened a brand-new stake worth roughly $1.16 billion. Capital International Investors surged 821.4% to 4,134,996 shares valued at about $1.07 billion.
On the Avery Dennison side, Aviva PLC boosted its stake 12.6% to 69,030 shares worth $12.56 million. Sepio Capital LP jumped 26.2% to 6,949 shares worth about $1.26 million. These buyers suggest broad demand for the stock remains strong even as Great Lakes pulled back.
Analysts Stay Cautious on Public Storage Despite Dividend
Analyst views on Public Storage lean neutral. JPMorgan cut its price target from $295 to $291, keeping a "neutral" rating. BMO reiterated "market perform." Mizuho analyst Ravi Vaidya raised his target from $301 to $316 on May 27 but also kept a "neutral" rating, citing "building demand risks." William Blair set a $305 target. Goldman Sachs stands apart with a "buy" rating and a $341 target, arguing customer health "remains strong despite macro uncertainty."
Public Storage is not standing still. The company is pushing a strategy called "PS 4.0" and closed a $10.5 billion deal to buy National Storage Affiliates. Leaders expect that deal to generate $110 million to $130 million in savings. On May 6, the company declared a regular quarterly dividend of $3.00 per share, giving income-focused investors a steady return while they wait for the stock to move.
State Street Revenue Climbs Even as Executives Sell Shares
State Street's fundamentals look healthy. Revenue hit $3.80 billion in its most recent quarter, up 15.6% year over year. Truist Financial raised its price target on the stock from $136 to $150 on April 20, keeping a "hold" rating. Yet company insiders moved the other way. CEO Ronald P. Hanley sold 14,553 shares on May 26 at $155.35 each under a pre-planned Rule 10b5-1 selling program. EVP W. Bradford Hu sold 9,212 shares at the same price on the same day.
Rule 10b5-1 plans are set up in advance and are a legal way for executives to sell shares without being accused of trading on inside information. Still, the sales add to the sense that major holders — both inside and outside the company — are locking in gains rather than adding more exposure to the financial sector.
Sentiment
Mostly PositiveNEGATIVENEUTRALPOSITIVE
Publishers
15
Articles
5
Reach
20
Topics
A
AnonymousAuthor
