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BK, long position. The IJ Fund aims to build a low-beta portfolio, composed of undervalued stocks. BK has suffered in the face of the crisis but has managed to maintain its strong position in the US financial services industry. Currently, it has a PE ratio of 7.5, which is half of its historical average of 15. Investors are paying very little for the stock in relation to its earnings. The fund’s management considers a stock price of $50 as a fair value of the company. The company has a beta of 1.02, which is slightly above the fund target beta. The market capitalization is $35.4Bn.The company industry classifies as Financial Services.
Large Asset Management & Custody Banks and one of the 10 largest banks in the US by assets. Leader MSCI ESG rating (AA) placing in top 27% in the industry. Fairly low Sustainalytics ESG Risk score (22.6) considering the industry standards. Beta (1.02) is in line with portfolio average.
PEAD trading strategy | Stock movement over 5% after earning announcement released today before market hours | Taking short position for 4 days because the movement is down