Ken Heebner Is Bullish On These Three Finance Stocks

Capital Growth Management also purchased a new 3.12 million-share stake in MetLife Inc. (NYSE:MET) during the most recent quarter, which is valued at $131.57 million as of June 30. The shares of MetLife haven’t delivered substantial gains for its shareholders in 2015, increasing by slightly more than 1% year-to-date. The leading global provider of insurance, annuities, and employee benefit programs recently posted its financial results for the second quarter of the current year, reporting operating earnings of $1.8 billion, up by 11% year-over-year. At the same time, the company’s premiums, fees, and other revenues came to $12.2 billion, marking a decrease of 4% from the second quarter of 2014. It’s also worth mentioning that MetLife’s investment margins remained strong in spite of the continuing low interest rate environment, whereas the underwriting margins strengthened year-over-year for the fourth consecutive quarter. Andreas Halvorsen’s Viking Global Investors augmented its stake in MetLife Inc. (NYSE:MET) by 5.12 million shares during the second quarter to a holding of 11.78 million shares as of June 30.

Last but not least, the firm’s latest 13F filing also reveals that Capital Growth Management has taken a long position in The Charles Schwab Corporation (NYSE:SCHW). Ken Heebner’s investment firm currently holds a stake of 3.09 million shares of the company, which is valued at $100.89 million as of June 30. The shares of Charles Schwab, a leading provider of financial services, have gained nearly 14% so far this year. Just recently, the company released its Monthly Activity Report for July, indicating that the net new assets brought to the company in July by existing and new clients amounted to $9.8 billion. Charles Schwab also disclosed that the total client assets came to $2.56 billion at the end of July, increasing by 8% year-over-year and by 1% from the end of June 2015. At the same time, the company’s average interest-earning assets on its balance sheet reached a record of $158.2 billion through July, 15% more than in July 2014, and up by 2% since the end of June 2015. From the massive pool of over 700 hedge funds that we track, John Scully’s SPO Advisory Corp is among the largest shareholders in The Charles Schwab Corporation (NYSE:SCHW), holding an ownership stake of 26.18 million shares as of June 30.

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