Assetmark Inc. Reduces Stake in PBF Energy, Institutional Holdings Surge

2 min read | November 10, 2024 07:24 AM PST | By Team Kalkine Media

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Assetmark Inc. Reduces Stake in PBF Energy, Institutional Holdings Surge — Image source: Shutterstock

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Assetmark Inc. Reduces Stake in PBF Energy (PBF)

Institutional Investors Increase PBF Energy Holdings

Strong Institutional Ownership of PBF Energy

Assetmark Inc. recently reduced its position in PBF Energy Inc. (NYSE:PBF), lowering its holdings by a significant percentage in the third quarter. The firm now holds a smaller share in the oil and gas company, having sold a considerable number of shares. As per the latest SEC filing, Assetmark Inc. owns a fraction of PBF Energy's stock, totaling a notable value. This change highlights a shift in the company's investment strategy.

Other institutional investors have been active in increasing or acquiring shares in PBF Energy during the same period. Acadian Asset Management LLC increased its holdings by a notable margin, further solidifying its position in the oil and gas sector. Magnetar Financial LLC also entered the scene by acquiring a new stake, further diversifying the institutional investment landscape. Other institutional players, such as Inspire Investing LLC and Public Employees Retirement System of Ohio, also made strategic moves by acquiring or adding to their positions in PBF Energy.

The institutional backing for PBF Energy remains robust, with a significant majority of the company’s stock now owned by institutional investors and hedge funds. This strong institutional presence underlines the interest and confidence in PBF Energy within the financial community.

PBF Energy has experienced considerable attention from institutional investors, reflecting a trend of institutional ownership making up a substantial percentage of the company’s total shares. This highlights the company’s importance in the energy sector and its role in the broader investment landscape.

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