To beat the market, Bank of America outlines these tips for investors

There are several ways fund managers and investors can outperform the benchmark stock indexes, according to Bank of America Merrill Lynch.

So far this year, 60 percent of active fund managers are beating their respective market indexes, tracking to the best performance since 2003. But it hasn't always been this easy, particularly with the rush of investor money to so-called passive funds that track indexes.

"One of the biggest challenges for active managers has been a substantial shift to passive investment strategies," Bank of America equity and quantitative strategist Savita Subramanian said in a note to clients on Friday. "The best way to slow or reverse this shift is by generating alpha," another word for outperformance.

Bank of America made a list of seven says to beat the benchmark, three of which are highlighted here. "The job of an active fund manager is far from simple, and we would be remiss to reduce the complexity of fund management to a series of rules. But our quantitative work reveals a few techniques worth considering to beat the benchmark."

Here are some recommendations that investors can use to outperform.

1. "Pick your battles."

In some sectors, picking the right stock is key. For other sectors that are more influenced by macroeconomic factors, picking the sector is enough. Subramanian noted investors should focus on parts of the market with more return volatility, which provides opportunities for bigger gains.

She recommended technology, health care and consumer sectors as a "stock-picker's paradise." And for those betting on sectors, she recommended financials, real estate, utilities and energy "where being right on macro (rates, oil, GDP, etc.) is likely a more important call."

2. "Take the road less traveled��especially by the sell side."

Investors are more likely to find bargains in areas of the market that are less covered by Wall Street analysts, Subramanian said. Less research means these stocks could get overlooked, and they won't be prone to overcrowded trades by investors chasing hot stocks.

"The more eyeballs on a stock, the less alpha you're likely to harvest," she said. "Another pitfall avoided by steering clear of the sell-side darlings is crowding. Since the crisis, crowding has been a particularly acute issue for investors. In three of the last five years, the most overweighted stocks by active managers have underperformed the most underweighted stocks."

3. "Extend your time horizon."

Subramanian said short-term trading hurts returns because of higher levels of competition.

"Alpha over short time horizons has become increasingly hard to come by," she said. "But with the paucity of resources, investment strategies and eyeballs focused on the longer-term outlooks, the alpha opportunity over a longer time horizon has dramatically increased."

Bank of America Merrill Lynch research showed funds do better if they hold their positions for longer, three-year holding periods.

Standard General L.P. Buys Turning Point Brands Inc

New York, NY, based Investment company Standard General L.P. buys Turning Point Brands Inc during the 3-months ended 2018-03-31, according to the most recent filings of the investment company, Standard General L.P.. As of 2018-03-31, Standard General L.P. owns 4 stocks with a total value of $89 million. These are the details of the buys and sells.

Added Positions: NCMI, TPB,

For the details of Standard General L.P.'s stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Standard+General+L.P.

These are the top 5 holdings of Standard General L.P.National CineMedia Inc (NCMI) - 14,387,113 shares, 83.65% of the total portfolio. Shares added by 8.59%Turning Point Brands Inc (TPB) - 455,319 shares, 9.92% of the total portfolio. Shares added by 49.13%CafePress Inc (PRSS) - 2,500,000 shares, 3.77% of the total portfolio. Emmis Communications Corp (EMMS) - 515,231 shares, 2.66% of the total portfolio. Added: Turning Point Brands Inc (TPB)

Standard General L.P. added to a holding in Turning Point Brands Inc by 49.13%. The purchase prices were between $19.44 and $22.38, with an estimated average price of $21.12. The stock is now traded at around $25.96. The impact to a portfolio due to this purchase was 3.27%. The holding were 455,319 shares as of 2018-03-31.

Here is the complete portfolio of Standard General L.P.. Also check out:

1. Standard General L.P.'s Undervalued Stocks
2. Standard General L.P.'s Top Growth Companies, and
3. Standard General L.P.'s High Yield stocks
4. Stocks that Standard General L.P. keeps buying

Prudential Financial Inc. Buys 256,526 Shares of CIT Group (CIT)

Prudential Financial Inc. grew its stake in CIT Group (NYSE:CIT) by 496.6% during the first quarter, HoldingsChannel.com reports. The firm owned 308,179 shares of the financial services provider’s stock after purchasing an additional 256,526 shares during the quarter. Prudential Financial Inc.’s holdings in CIT Group were worth $15,871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in CIT. Renaissance Technologies LLC acquired a new position in shares of CIT Group in the fourth quarter valued at approximately $20,987,000. Assenagon Asset Management S.A. acquired a new position in shares of CIT Group in the fourth quarter valued at approximately $18,735,000. PGGM Investments acquired a new position in shares of CIT Group in the fourth quarter valued at approximately $15,778,000. Mackay Shields LLC acquired a new position in shares of CIT Group in the first quarter valued at approximately $10,372,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in shares of CIT Group in the fourth quarter valued at approximately $8,641,000. 99.65% of the stock is currently owned by institutional investors and hedge funds.

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Shares of CIT Group opened at $55.33 on Wednesday, MarketBeat Ratings reports. CIT Group has a 1-year low of $43.25 and a 1-year high of $56.14. The firm has a market cap of $7.03 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 1.35 and a beta of 1.30. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.53.

CIT Group (NYSE:CIT) last announced its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.22). CIT Group had a return on equity of 7.76% and a net margin of 11.93%. The business had revenue of $495.00 million for the quarter, compared to analyst estimates of $481.00 million. During the same period in the prior year, the company earned $0.54 EPS. equities analysts predict that CIT Group will post 4.1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 11th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Thursday, May 10th. CIT Group’s dividend payout ratio is presently 20.85%.

A number of research analysts have recently issued reports on the company. Zacks Investment Research lowered CIT Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. TheStreet raised CIT Group from a “c+” rating to a “b-” rating in a report on Tuesday, March 20th. BMO Capital Markets dropped their target price on CIT Group from $49.00 to $46.00 and set a “market perform” rating on the stock in a report on Wednesday, April 25th. Credit Suisse Group boosted their target price on CIT Group from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Finally, Morgan Stanley boosted their target price on CIT Group from $54.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $54.83.

In related news, insider James L. Hudak sold 2,000 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $53.63, for a total transaction of $107,260.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

CIT Group Company Profile

CIT Group Inc operates as the bank holding company for CIT Bank, National Association that provides banking and related services to commercial and individual customers. The company operates through three segments: Commercial Banking, Consumer Banking, and Non-Strategic Portfolios (NSP). The Commercial Banking segment offers lending, leasing, and other financial and advisory services primarily to small and middle-market companies; factoring, receivables management products, and secured supply chain financing; and equipment leasing and secured financing to railroads and non-rail companies.

Want to see what other hedge funds are holding CIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CIT Group (NYSE:CIT).

Should TJX Be Seeing a Bigger Boost From Earnings?

TJX Companies Inc. (NYSE: TJX) reported its fiscal first-quarter financial results before the markets opened on Tuesday. The retailer said that it had $1.13 in earnings per share (EPS) on $8.69 billion in revenue, compared with consensus estimates of $1.02 in EPS and revenue $8.47 billion. The same period of last year reportedly had EPS of $0.82 and $7.78 billion in revenue.

During the quarter, the company reported a comparable store sales increase of 3%, compared to 1% in the same period of last year. International comparable sales were up 1%.

In terms of its segments, the company reported as follows:

Marmaxx net sales increased 8% year over year to $5.38 billion. HomeGoods net sales rose 13% year over year to $1.27 billion. TJX Canada net sales increased 15% year over year to $853.8 million. TJX International net sales increased about 24% year over year to $1.18 billion.

Looking ahead, the company expects to see EPS to be in the range of $1.02 to $1.04 in the fiscal second quarter and $4.75 to $4.83 for the fiscal full year. The consensus estimates call for $1.10 in EPS for the second quarter and $4.85 for the full year.

On the books, TJX cash and cash equivalents totaled $2.68 billion at the end of the quarter, compared with $2.67 billion in the same period of last year.

Ernie Herrman, CEO and�president of TJX, commented:

We are very pleased with our first quarter results as both our consolidated comp store sales growth of 3% and earnings per share exceeded our expectations… Customer traffic was once again the primary driver of our comparable store sales increases at each of our four large divisions. Based on our strong first quarter performance, we are updating our outlook for full-year earnings per share. We believe that the consistency of our customer traffic increases demonstrates the strength and resiliency of our business and our ability to succeed through many types of economic and retail environments. Looking ahead, the second quarter is off to a strong start and we see plentiful opportunities to capitalize on the exciting fashions and brands available to us in the marketplace.

Shares of TJX were last seen up about 1.5% at $85.98, with a consensus analyst price target of $91.95 and a 52-week trading range of $66.44 to $87.31.

ALSO READ: 4 Red-Hot Mega-Retailers Ready for a Big Summer Selling Season

61% of Women Would Rather Talk About Their Own Death Than Money

Money is often a sore subject among women, especially since females are still overwhelmingly underpaid compared to their similarly qualified male counterparts. And when it comes to managing investments and long-term planning, many women lack confidence in their ability to get the job done. It's no wonder, then, that 61% would rather discuss their own death than delve into money matters with associates and friends, as per a recent report by Merrill Lynch and Age Wave.

Still, it pays for women to be more open about their financial needs and concerns, especially when it comes to retirement. That's because females generally live longer than men, and as such, they are more likely to be in a position where they're required to manage their families' wealth on their own. And the sooner they get the skills and confidence they need to pull that off, the more secure about money they'll feel.

IMAGE SOURCE: GETTY IMAGES.

Why women worry about money

Though near-term financial concerns are no doubt a problem for women, the real sense of worry tends to kick in when retirement comes into play. That's because women tend to outlive their male counterparts, and therefore generally need more money to fund their senior living expenses. At the same time, women typically earn less than men, so even though they're equally likely to participate in retirement plans, lower wages coupled with career breaks to raise children or care for family members put them at a glaring disadvantage.

In fact, the average woman will spend $194,000 more than the typical male on healthcare in retirement alone, due largely in part to the fact that many women outlive their spouses and therefore need to rely on long-term care in their later years. And that's a gap many women would rather gloss over than openly address.

Still, if your goal is to retire in a place of financial security, you'll need to get comfortable with the idea of talking money and getting a handle on your finances. Otherwise, you risk struggling financially at the worst possible time in life.

Talking about the future -- and planning for it

If you're worried about the future and feel ill-equipped to manage your own investments, it's time to find a financial advisor you can trust. The best way to go about this is to solicit recommendations from family members, neighbors, colleagues, and friends, because chances are, if someone you know has had a good experience working with a professional, the same will hold true for you. Of course, to get that information, you'll need to be willing to share the fact that you're looking for help with your long-term financial planning -- but you can probably get away with keeping the details to a minimum.

From there, it's really a matter of getting a good feel for the person you're working with. A trustworthy advisor is one who will talk openly about things such as fees (they all charge them), risk, and obstacles to meeting your long-term goals. Once you find the right person, you can set up your investments appropriately so they're better positioned for growth without exposing you to undue risk.

At the same time, you'd be wise to ramp up your retirement savings while you can. If you're under 50, you can contribute up to $18,500 a year to a 401(k) and $6,500 a year to an IRA. Of course, most workers can't hit these limits, but if you aim to do just a bit better than you've done in years past, it'll make a difference over time. Case in point: Saving an additional $100 a month over a 20-year timeframe will boost your nest egg by almost $50,000, assuming your investments are able to generate an average annual 7% return during that time. And in case you're wondering, that's more than doable with a stock-heavy portfolio, as a good advisor will tell you.

Finally, read up on healthcare costs in retirement, and look into long-term care insurance, either independently or with the help of your advisor. The younger you are, the more likely you are to not only get approved, but snag a health-based discount on your premiums. That policy could then help defray a large chunk of the costs you might incur later in life, when you're at your most physically and financially vulnerable.

Though money is hardly a comfortable thing to talk about out loud, if you're concerned about your future, it's imperative that you discuss it with the right people. With any luck, doing so will help put your mind at ease while giving you a solid plan of attack to secure a comfortable retirement.

$0.04 Earnings Per Share Expected for Pacific Coast Oil Trust (ROYT) This Quarter

Wall Street analysts expect that Pacific Coast Oil Trust (NYSE:ROYT) will announce earnings of $0.04 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Pacific Coast Oil Trust’s earnings. Pacific Coast Oil Trust also reported earnings of $0.04 per share during the same quarter last year. The business is scheduled to announce its next earnings results on Friday, July 27th.

On average, analysts expect that Pacific Coast Oil Trust will report full-year earnings of $0.16 per share for the current financial year. For the next financial year, analysts forecast that the company will report earnings of $0.11 per share. Zacks’ EPS averages are an average based on a survey of analysts that cover Pacific Coast Oil Trust.

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Separately, Zacks Investment Research raised shares of Pacific Coast Oil Trust from a “sell” rating to a “hold” rating in a research report on Thursday, March 29th.

Shares of Pacific Coast Oil Trust opened at $2.18 on Friday, Marketbeat reports. The stock has a market capitalization of $89.51 million, a PE ratio of 29.00 and a beta of 2.21. Pacific Coast Oil Trust has a 1 year low of $2.30 and a 1 year high of $2.31.

The firm also recently disclosed a monthly dividend, which was paid on Monday, April 23rd. Investors of record on Monday, April 9th were given a dividend of $0.0223 per share. This represents a $0.27 dividend on an annualized basis and a dividend yield of 12.25%. The ex-dividend date of this dividend was Friday, April 6th.

Pacific Coast Oil Trust Company Profile

Pacific Coast Oil Trust acquires and holds net profits and royalty interests in various oil and natural gas properties located in California. Its properties include Orcutt properties located in the Santa Maria Basin; and West Pico, East Coyote, and Sawtelle properties located in the Los Angeles Basin of California.

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