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If you want to know who really controls Coronation Fund Managers Limited (JSE:CML), then you'll have to look at the makeup of its share registry. We can see that individual investors own the lion's share in the company with 43% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company.
While the holdings of individual investors took a hit after last week’s 15% price drop, institutions with their 34% holdings also suffered.
In the chart below, we zoom in on the different ownership groups of Coronation Fund Managers.
See our latest analysis for Coronation Fund Managers
What Does The Institutional Ownership Tell Us About Coronation Fund Managers?
Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.
We can see that Coronation Fund Managers does have institutional investors; and they hold a good portion of the company's stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Coronation Fund Managers' historic earnings and revenue below, but keep in mind there's always more to the story.
Coronation Fund Managers is not owned by hedge funds. Public Investment Corporation Limited is currently the largest shareholder, with 14% of shares outstanding. For context, the second largest shareholder holds about 7.5% of the shares outstanding, followed by an ownership of 4.0% by the third-largest shareholder. Furthermore, CEO Anton Pillay is the owner of 1.4% of the company's shares.
After doing some more digging, we found that the top 18 have the combined ownership of 50% in the company, suggesting that no single shareholder has significant control over the company.
While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar.
Insider Ownership Of Coronation Fund Managers
The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.