Friday, May 3, 2019

Recent Buy, May 2019

Outdoor Gremlin here to discuss a recent buy.  The weather has finally started to give us some beautiful spring weather in the DC area, which means of course sudden down pours and two weeks before the humidity becomes intense.  In the meantime, I hope to soak in as much of this perfect season as possible.  Luckily, my son loves to be outside as much as possible, so it will not take any arm twisting to get people outside for hikes, runs, etc.  Anyways, good weather and improving my financial portfolio always puts me in a good news so... what did I buy?

Today, I added shares of Evercore Inc. (EVR) in my taxable account.  I bought 11 shares, with a total cost of $1,052.22 ($95.02 / share, plus commission).  The current yield is 2.45%. For a detailed summary of their history, etc. please visit: EVR's Seeking Alpha Profile.

EVR joins my positions in Eaton Vance (EV), Amerprise Financial (AMP), T. Rowe Price (TROW), the big 5 Canadian banks, American Express (AXP), Discover (DFS), and Prudential (PRU) in my financial and asset management sector.  The financial sector has been and continues to be one of my main target areas, as they say follow the money.

What I like most about EVR is how they are involved in a lot of private and specialty transactions.  They provide advisory services relating to "mergers, acquisitions, divestitures, leveraged buyouts, restructurings, shareholder activism and defense, and related corporate finance matters; and services related to securities underwriting, private placement services, and commissions for agency-based equity trading services and equity research" - from the Seeking Alpha link (Evercore's website also says it nicely).  That is an interesting line of work that most of the other financial companies I own.  Yes, many of those other companies are undoubtedly involved in lots of those lines of business, however that advisory services group is uncommon.  So part of what I am buying here is ownership of those consulting style skills in a somewhat niche industry.  What I like about that, is it adds to my financial sector diversity with a repeatable service.

This purchase will add $25.52 to my forward 12 month dividend income.

I will update my portfolio page at the end of the month.

What do you think of EVR?

- Gremlin
- Long EVR, EV, AMP, AXP, DFS, TROW, PRU, and the big 5 Canadian banks


  1. Wish I had some opinion on EVR. To be honest this is the first time I heard of this company. You have been adding some less traditional DGI stocks to your portfolio recently. Nice way to spread your bets. I have my TD, BNS and RY as well as WFC, CB, AFL and TROW in the finance sector. I'm still watching ORI to add one day but overall I think I'm pretty happy with my exposure to the space. Thanks for sharing.

    1. Keith,

      I have been looking at less common names for DGI. A lot of them are smaller caps, but tend to sport nice moats / niches, low payouts, and outstanding dividend growth rates. I would like to add CB back (sold after the take over) and I would not mind AFL or WFC. And of course increasing my Canadian banks - all in good time. Thanks for the comment!

      - Gremlin