Asset Management

(BLK) BlackRock Hits New 52-Week High

Shares of BlackRock, Inc. (BLK) crafted a new 52-week high, touching $275.21 in the first half of the trading session on May 6, 2013. The closing price of this leading title insurer represents a solid year-to-date return of 29.8%....

9May2013 | | Comments Off on (BLK) BlackRock Hits New 52-Week High | Continued

(LM) Legg Mason Raises Dividend

In an attempt to boost shareholder value, Legg Mason, Inc.’s (LM) board of directors approved an increased quarterly cash dividend on its common stock. The new dividend of 13 cents per share reflects an 18% increase from the prior...

27Apr2013 | | Comments Off on (LM) Legg Mason Raises Dividend | Continued

(PFG) Principal Financial Group Hits New 52-Week High

On Apr 10, 2013, shares of Principal Financial Group Inc. (PFG) hit a 52-week of $34.88.

The investment manager has remained focused to grow inorganically. On Mar 4, Principal Global Investors, LLC, the investment arm of Principal...

18Apr2013 | | Comments Off on (PFG) Principal Financial Group Hits New 52-Week High | Continued

(AMP) Ameriprise Financial Analyst Remains Neutral on Shares

On Apr 5, 2013, we reaffirmed our long-term Neutral recommendation on Ameriprise Financial Inc. (AMP). Our decision is based on its robust capital deployment actions and strong liquidity position. However, escalating expenses and unsettling...

18Apr2013 | | Comments Off on (AMP) Ameriprise Financial Analyst Remains Neutral on Shares | Continued

(PFG) Principal Financial Group Agrees to Yet Another Acquisition

In an effort to expand its alternative investment capabilities, Principal Global Investors, LLC, the investment arm of Principal Financial Group Inc. (PFG), agreed to purchase 55% shares of Liongate Capital Management (Liongate) for...

13Mar2013 | | Comments Off on (PFG) Principal Financial Group Agrees to Yet Another Acquisition | Continued

(PFG) Principal Financial Likely to Miss Forecasts

Principal Financial Group Inc. (PFG) is set to report fourth quarter and full year 2012 results on Jan 31. In the last quarter, it posted an 8.2% negative surprise. Let’s see how things are shaping up for this announcement.

Factors...

4Feb2013 | | Comments Off on (PFG) Principal Financial Likely to Miss Forecasts | Continued

(BLK) BlackRock Incorporated – Growth & Income

BlackRock Inc. (BLK) announced impressive fourth-quarter results last week, including a hike in its quarterly cash dividend. This Zacks Rank #2 (Buy) asset management company hit a 52-week high on the day of the report. It currently pays a regular...

25Jan2013 | | Comments Off on (BLK) BlackRock Incorporated – Growth & Income | Continued

(AMP) Financial Engines – Aggressive Growth

Financial Engines, Inc. (FNGN) has delivered two straight quarters with positive earnings surprises, putting together an average beat of 19.6%. This Zacks Rank #1 (Strong Buy) investment adviser offers an attractive opportunity for investors...

23Jan2013 | | Comments Off on (AMP) Financial Engines – Aggressive Growth | Continued

(BLK) BlackRock Incorporated – Growth & Income

BlackRock Inc. (BLK) announced impressive fourth-quarter results last week, including a hike in its quarterly cash dividend. This Zacks Rank #2 (Buy) asset management company hit a 52-week high on the day of the report. It currently pays a regular...

22Jan2013 | | Comments Off on (BLK) BlackRock Incorporated – Growth & Income | Continued

(BX) Blackstone Lifted to Outperform

On January 9, 2013, we upgraded The Blackstone Group LP (BX) to Outperform based on this asset manager’s strong fund raising ability and sound expansion activities.

Why the Upgrade?

Over the last 90...

22Jan2013 | | Comments Off on (BX) Blackstone Lifted to Outperform | Continued

(BEN) Franklin Resources Shares Maintained at Neutral by Analyst

We have reiterated our Neutral recommendation on Franklin Resources Inc. (BEN) based on its impressive earnings performance and improved assets under management levels. The results outpaced the Zacks Consensus Estimate.

In October,...

2Jan2013 | | Comments Off on (BEN) Franklin Resources Shares Maintained at Neutral by Analyst | Continued

(PFG) Principal Financial Group Progresses on Cuprum Buy

In order to widen its presence in the emerging marketplace, Principal Financial Group Inc. (PFG) has initiated a bid to acquire AFP Cuprum S.A. (Cuprum) for $1.39 billion. Chile-based AFP Cuprum is a leading pension manager with about...

2Jan2013 | | Comments Off on (PFG) Principal Financial Group Progresses on Cuprum Buy | Continued

(BX) The Blackstone Group LP Closes GCA Acquisition

On Friday, Blackstone Capital Partners V, L.P ? a private equity fund managed by The Blackstone Group LP (BX) ? announced that it has completed the acquisition of GCA Services Group from Nautic Partners, L.L.C. and other minority shareholders....

3Dec2012 | | Comments Off on (BX) The Blackstone Group LP Closes GCA Acquisition | Continued

(AMP) Ameriprise Financial in Negotiation to Buy ING Unit

According to Bloomberg, Ameriprise Financial Inc. (AMP) is almost in final stages of talks to acquire the majority of the Asian asset-management unit of ING Groep NV (ING)....

9Oct2012 | | Comments Off on (AMP) Ameriprise Financial in Negotiation to Buy ING Unit | Continued

(BX) Blackstone Group LP to Buy Capital Trust Unit

The Blackstone Group LP (BX) has reached an agreement with real estate finance company – Capital Trust, Inc. (CT) – to acquire the latter’s investment unit. Further,...

9Oct2012 | | Comments Off on (BX) Blackstone Group LP to Buy Capital Trust Unit | Continued

(LM) Legg Mason Incorporated – Bear of the Day

We are downgrading our recommendation on Legg Mason, Inc. (LM) to Underperform from Neutral based on the company’s ongoing managerial changes. However, the company’s fiscal first-quarter 2013 earnings outpaced the Zacks...

20Sep2012 | | Comments Off on (LM) Legg Mason Incorporated – Bear of the Day | Continued

(BAM) Brookfield Asset Management Issues Preferred Shares

On Thursday, Brookfield Asset Management Inc. (BAM) declared a public offering of 8 million Class A Preferred Shares, Series 34. The company priced the shares at CDN$25 per share. The sale proceeds, worth CDN$200 million, will be used...

26Aug2012 | | Comments Off on (BAM) Brookfield Asset Management Issues Preferred Shares | Continued

(BLK) BlackRock Beats Estimates – Revenue Down

BlackRock Inc.’s (BLK) second quarter 2012 adjusted earnings came in at $3.10 per share, substantially ahead of the Zacks Consensus Estimate of $3.03. The results compare unfavorably with the prior-quarter earnings...

20Jul2012 | | Comments Off on (BLK) BlackRock Beats Estimates – Revenue Down | Continued

(IVZ) Invesco Limited – Bear of the Day

We are downgrading our recommendation on Invesco, Ltd. (IVZ) to Underperform based on continuously rising operating expenses and volatile capital markets. The company’s first quarter 2012 earnings showed higher operating expenses.

Constantly...

5Jul2012 | | Comments Off on (IVZ) Invesco Limited – Bear of the Day | Continued

(PFG) Principal Financial Upgraded Standard & Poor's Ratings Services

Standard & Poor's Ratings Services (“S&P”) upgraded the long-term counterparty credit ratings to 'BBB+' from 'BBB' of Principal Financial Group Inc. (PFG) and Principal Financial Services Inc.,...

22Jun2012 | | Comments Off on (PFG) Principal Financial Upgraded Standard & Poor's Ratings Services | Continued

(TROW) T. Rowe Price Misses on Higher Expectations

T. Rowe Price Group Inc. (TROW) reported its first-quarter 2012 earnings of 75 cents per share, marginally below the Zacks Consensus Estimate of 77 cents. However, this compares favorably with the prior-year quarter’s earnings of...

4May2012 | | Comments Off on (TROW) T. Rowe Price Misses on Higher Expectations | Continued

(AMP) Ameriprise Financial Beats The Street – Hikes Dividend

Ameriprise Financial Inc. (AMP) reported first-quarter 2012 operating earnings of $1.45 per share surpassing the Zacks Consensus Estimate of $1.38. This also compared favorably with the year-ago quarter’s earnings of $1.33 per share.

Operating...

30Apr2012 | | Comments Off on (AMP) Ameriprise Financial Beats The Street – Hikes Dividend | Continued

(TROW) T. Rowe Price Group CEO Gets Pay Hike

T. Rowe Price Group Inc.’s (TROW) Chief Executive Officer (CEO), James A.C. Kennedy, got a 10% hike in his total compensation package. His salary had been increased to $7.8 million in 2011 from $7.1 million, according to a Securities...

13Mar2012 | | Comments Off on (TROW) T. Rowe Price Group CEO Gets Pay Hike | Continued

(JNS) Janus Capital Group CEO Gets a Pay Cut

Janus Capital Group Inc.’s (JNS) Chief Executive Officer (CEO) Richard Weil’s total compensation had been reduced to $6.1 million in 2011 from $20.3 million, including a signing bonus of $10 million, in 2010, according to a proxy...

6Mar2012 | | Comments Off on (JNS) Janus Capital Group CEO Gets a Pay Cut | Continued

(LM) Legg Mason’s December Assets Under Management Perks Up

Baltimore-based Legg Mason Inc. (LM) experienced a rise in its assets under management (AUM) in December on a sequential basis. This was preceded by a decline in November and a rise in October AUM.

Preliminary month-end AUM came...

13Jan2012 | | 0 comments | Continued

(PFG) Principal Financial Group Guides – Approves Buyback

Principal Financial Group Inc. (PFG) guides its 2012 operating earnings in a band of $3.05–$3.25 per share. The Zacks Consensus Estimate for 2012 is $3.17, toward the high end of the company’s guidance.

The company also...

8Dec2011 | | 0 comments | Continued

(FII) Federated Investors Incorporated – Bear of the Day

Federated Investors’ (FII) second-quarter 2011 earnings were in line with the Zacks Consensus Estimate. Results reflected decreased top-line growth, increase in voluntary fee waivers, and increased operating expenses. These negatives...

5Oct2011 | | 0 comments | Continued

(LM) Legg Mason’s August AUM Plunges Assets Under Management

Baltimore-based Legg Mason Inc. (LM) experienced a decline in its assets under management (AUM) in August on a sequential basis. This was preceded by a drop in both July and June.

Preliminary month-end AUM came in at $643.4 billion,...

19Sep2011 | | 0 comments | Continued

(FII) Federated Investors Incorporated – Bear of the Day

We are downgrading our recommendation on Federated Investors, Inc. (FII) to Underperform from Neutral based on expected downward pressure on assets under management (AUM), flows and margins. Regulatory backdrop, waning equity markets and...

12Jul2011 | | 0 comments | Continued

(PFG) Principal Financial Group to Take Over Origin

Yesterday, Principal Global Investors, LLC, a unit of Principal Financial Group (PFG), announced that it would purchase a 74% stake in London-based Origin Asset Management, LLP.

The acquisition of Origin would strengthen Principal’s...

11Jul2011 | | 0 comments | Continued