HM PAYSON & CO recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
HM Payson & Co is an investment management firm based out of Portland Maine. The company was originally established in 1854 by founder Henry Martyn Payson as a financing company specialized in public water companies and has grown from its inception to now operate with an additional office located in Damariscotta, Maine. HM Payson & Co conducts its research internally and externally, utilizing a quantitative methodology to make its investment decisions. The company invests in the growth stocks of companies, allocating its assets in the public equity and fixed income markets within the United States. HM Payson & Co invests most heavily in the finance and information technology sectors, each of which make up approximately a fifth of its total asset allocations, and also invests in the health care, consumer staples, consumer discretionary, industrials, and energy sectors, among other sectors to a lesser degree, in order of decreasing allocation. The company holds its allocations for just over 25 quarters on average and holds its top 10 allocations, which makes up over a quarter of its total holdings, for 20.9 quarters on average. In the most recent quarter, HM Payson & Co had a turnover rate of approximately 11.8%. HM Payson & Co oversees over $2.6 billion in total assets under management spread across over 2,500 total accounts, all of which are discretionary accounts except for 239 which makes up $288 million of its managed assets. Both of the company’s total number of accounts and total assets under management have been rising steadily in recent years with its total managed assets growing significantly from $1.4 billion back in 2010 to approaching twice that amount today. HM Payson & Co mainly caters to individuals and high net worth individuals, each of which makes up over a third of its client base. The company currently offers its Payson Total Return Fund.
As of the latest 13F report, the guru’s equity portfolio contained 929 stocks valued at a total of $4.02Bil. The top holdings were AAPL(5.35%), MSFT(4.62%), and JNJ(3.57%).
According to GuruFocus data, these were HM PAYSON & CO’s top five trades of the quarter.
Invesco BulletShares 2022 Corporate Bond ETF
The guru sold out of their 2,521,728-share investment in NAS:BSCM. Previously, the stock had a 1.47% weight in the equity portfolio. Shares traded for an average price of $21.21 during the quarter.
On 02/07/2023, Invesco BulletShares 2022 Corporate Bond ETF traded for a price of $21.16 per share and a market cap of $1.44Bil. The stock has returned -0.80% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
Berkshire Hathaway Inc
During the quarter, HM PAYSON & CO bought 133,312 shares of NYSE:BRK.B for a total holding of 394,179. The trade had a 1.02% impact on the equity portfolio. During the quarter, the stock traded for an average price of $296.98.
On 02/07/2023, Berkshire Hathaway Inc traded for a price of $308.43 per share and a market cap of $680.06Bil. The stock has returned -2.16% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Berkshire Hathaway Inc has a price-book ratio of 1.50, a EV-to-Ebitda ratio of 68.68 and a price-sales ratio of 2.70.
The price-to-GF Value ratio is 1.14, earning the stock a GF Value rank of 3.
Broadridge Financial Solutions Inc
HM PAYSON & CO reduced their investment in NYSE:BR by 223,091 shares. The trade had a 0.88% impact on the equity portfolio. During the quarter, the stock traded for an average price of $142.06.
On 02/07/2023, Broadridge Financial Solutions Inc traded for a price of $149.03 per share and a market cap of $17.54Bil. The stock has returned 1.29% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Broadridge Financial Solutions Inc has a price-earnings ratio of 33.27, a price-book ratio of 9.82, a price-earnings-to-growth (PEG) ratio of 3.33, a EV-to-Ebitda ratio of 20.37 and a price-sales ratio of 3.10.
The price-to-GF Value ratio is 0.85, earning the stock a GF Value rank of 9.
Laboratory Corp of America Holdings
During the quarter, HM PAYSON & CO bought 91,533 shares of NYSE:LH for a total holding of 149,435. The trade had a 0.54% impact on the equity portfolio. During the quarter, the stock traded for an average price of $227.5.
On 02/07/2023, Laboratory Corp of America Holdings traded for a price of $244.5 per share and a market cap of $21.66Bil. The stock has returned -11.28% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Laboratory Corp of America Holdings has a price-earnings ratio of 13.04, a price-book ratio of 2.17, a price-earnings-to-growth (PEG) ratio of 0.68, a EV-to-Ebitda ratio of 9.12 and a price-sales ratio of 1.52.
The price-to-GF Value ratio is 0.92, earning the stock a GF Value rank of 6.
Invesco BulletShares 2025 Corporate Bond ETF
During the quarter, HM PAYSON & CO bought 805,041 shares of NAS:BSCP for a total holding of 1,849,963. The trade had a 0.4% impact on the equity portfolio. During the quarter, the stock traded for an average price of $19.92.
On 02/07/2023, Invesco BulletShares 2025 Corporate Bond ETF traded for a price of $20.22 per share and a market cap of $2.20Bil. The stock has returned -3.48% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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