WFC - Famed investor Bill Miller's Deep Value like financials Brighthouse Gannett

Famed investor Bill Miller's Deep Value Strategy likes financials and expects they should see a "significant improvement in profitability this year, according to a copy of investor later dated Feb. 4.Financials are expected to benefit from lower loan loss provisioning, improving loan growth, strong capital market activity, and a steepening yield curve. The fund increased its weight in the financial in past couple of months.Holders of financial securities also stand to benefit from "very attractive" absolute and relative valuation levels and a greater return of capital from increased share repurchases and strong dividends, senior portfolio manager Daniel Lysik wrote in the letter.The fund initiated a position in Wells Fargo (WFC) in the second half of last year and expects a return to 10%+ ROE, normalized EPS of $5/share and book value likely approaching $50/share. The fund expects that Wells Fargo shares will be a top performer over the next couple

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Famed investor Bill Miller's Deep Value like financials, Brighthouse, Gannett