Asset Management
(JNS) Janus Capital Group Analyst Reiterates At Neutral
We have reiterated our recommendation on Janus Capital Group Inc. (JNS) at Neutral following the company’s earnings release. Our decision is based on the company’s fundamentals and the current economic...
(BX) Blackstone Group to Acquire Dynegy
On Friday, Blackstone Group (BX) announced that it will acquire Houston-based energy company Dynegy Inc. (DYN) for $4.7 billion (including...
(LM) Legg Mason’s July Assets Under Management Higher
Legg Mason Inc. (LM) reported preliminary month-end assets under management (AUM) of $659.3 billion for the month of July, up 2.0% from $645.4 billion at the end of the prior month having declined marginally...
(JNS) Janus Capital Group’s Second Quarter 2010 Earnings Beat Estimates
Janus Capital Group Inc.’s (JNS) second quarter earnings per share came in at 17 cents, outpacing the Zacks Consensus Estimate of 15 cents primarily due to higher average assets under management (AUM). This...
(BLK) BlackRock Announces Plans to Double Mexican Asset Portfolio
On Wednesday, BlackRock, Inc. (BLK) said that the company intends to double its $13 billion asset portfolio in Mexico in the next three years. The company enjoys huge demand for Exchange Traded Funds (ETFs)...
(LM) Legg Mason Plans $300 Million Stock Buyback
Baltimore-based money manager Legg Mason, Inc. (LM) announced on Monday that it will buy back its $300 million common stock in an accelerated share repurchase transaction. As a result, the transaction is expected...
(BEN) Franklin Resources Announced it Priced Notes Offerings
Franklin Resources Inc. (BEN) announced on Monday that it has priced its public offering of $300 million aggregate principal amount of 2% notes due 2013 at an issue price of 99.823%, $250 million aggregate...
(TROW) T. Rowe Price Group’s Earnings Scorecard
T. Rowe Price Group Inc. (TROW) reported first quarter 2010 results on April 23, which fell short of the Zacks Consensus Estimate by 1 cent. However, results came in significantly above the prior-year quarter,...
(AMP) Ameriprise Financial Buys Back $1.5 Billion in Stock
In an attempt to return value to its shareholders, on Tuesday, the board of Ameriprise Financial Inc. (AMP) announced the authorization for a stock buyback program of its common shares worth approximately...
(LM) Legg Mason’s Earnings Report Outshines Street Estimates
Legg Mason Inc.’s (LM) fourth-quarter earnings of 39 cents per share surpassed the Zacks Consensus Estimate of 35 cents as well as prior-quarter earnings of 28 cents. Earnings came in substantially ahead...
(PFG) Principal Financial Group Reports Earnings Ahead of Estimates
Principal Financial Group Inc. (PFG) reported first quarter earnings of $255.6 million or 79 cents per share, beating the Zacks Consensus Estimate of 68 cents. The company had earned $164.0 million or 63 cents...
(FIG) GMAC to Sell European Mortgage Business to Affiliates of Fortress Investment Group
In an effort to reduce its exposure to legacy mortgage business, GMAC Financial Services of GMAC Inc. (GJM) yesterday announced a deal to sell its European mortgage business. The company said that its mortgage...
(FII) Federated Investors Borrows $425 Million
On Monday, Federated Investors Inc. (FII) announced that it has got into a new term-loan agreement worth $425 million for five years, thereby revising its existing $140 million term-loan agreement.
The...
(AMP) Ameriprise Financial Analyst Downgrades to Neutral
Given the current critical sustainability factor, we are downgrading our recommendation on the shares of Ameriprise Financial Inc. (AMP) to Neutral from Outperform. Although the company’s third quarter earnings...
(TROW) T. Rowe Price Group to Buy a Stake in China’s Largest Fund Management Firm
Investment firm T. Rowe Price Group Inc. (TROW) is in advanced talks to buy a stake in Asset Management Co. (“China AMC”) from its holding company Citic Securities.
Citic Securities, which...
(AMP) Ameriprise Financial Incorporated – Earnings Estimates Climbing
Ameriprise Financial, Inc. (AMP) recently rebounded from a key trend line to jump back within striking distance of the 52-week high at $42.98. Shares of AMP have been trending higher for most of the last month...
($AMP) Ameriprise Financial Analyst Raises Stock to Outperform
Given the current market recovery factor and valued growth indicators, we are upgrading our recommendation for the shares of Ameriprise Financial Inc. (AMP) to Outperform from Neutral. Although the current...
(EV) Eaton Vance’s Earnings Report Meets View
Asset manager Eaton Vance Corp.’s (EV) fiscal 2010 first-quarter earnings surged to $46.2 million from $24.7 million in the year-ago quarter, primarily driven by higher fees on its funds amid an ongoing recovery...
(TROW) T. Rowe Price Group Explores Asia – Taiwan Next
Consolidating its base in Asia, T. Rowe Price Group Inc. (TROW) is all set to hit Taiwan’s retail markets by launching four equity funds through an electronic fund trading platform of Marbo Group, a Taiwanese...
(AMP) Ameriprise Financial – Bull of the Day
We are upgrading our recommendation on Ameriprise Financial (AMP) to Outperform from Neutral. The company’s fourth quarter earnings came in substantially ahead of the Zacks Consensus Estimate, aided...
(FII) Federated Investors Incorporated Initiated as Neutral
We are initiating coverage on Federated Investors Inc. (FII) with a Neutral recommendation. The company’s fourth-quarter earnings of 51 cents per share missed the Zacks Consensus Estimate by a couple of...
(AMP) Ameriprise Financial Beats Estimates
Ameriprise Financial Inc.’s (AMP) fourth quarter core operating earnings per share of 91 cents were substantially ahead of the Zacks Consensus Estimate of 75 cents and 80 cents in the prior-year quarter....
(BEN) Franklin Resources Benefits from New Assets
Franklin Resources Inc’s (BEN) first-quarter earnings of $1.54 per share were ahead of the Zacks Consensus Estimate of $1.47. Results were also ahead of the prior-year period’s earnings of 52 cents. The...
(TROW) T. Rowe Price Group Price Results Improve
T. Rowe Price Group, Inc.’s (TROW) fourth quarter 2009 earnings of 57 cents per share came in ahead of the Zacks Consensus Estimate of 55 cents due to higher-than-expected top-line growth and higher assets...
(IVZ) Invesco Limited Misses Consensus Estimates – Profit Swells
Invesco Limited’s (IVZ) fourth-quarter earnings came in at 25 cents per share, 3 cents short of the Zacks Consensus Estimate of 28 cents. However, this compares favorably with the earnings of 8 cents in...
(JNS) Janus Capital Beats The Street by a Penny
Janus Capital Group Inc.’s (JNS) fourth-quarter earnings per share came in at 20 cents, a penny higher than the Zacks Consensus Estimate of 19 cents, primarily due to higher average assets under management...
(BLK) BlackRock Significantly Outperforms Expectations – Stock Drops
BlackRock’s (BLK) fourth quarter operating earnings per share of $2.39 significantly outperformed the Zacks Consensus Estimate of $2.12, earnings of $2.10 in the sequential quarter and 66 cents in the prior-year...
(TROW) T. Rowe Price Group Buys 26% of Unit Trust of India Asset Management Company Ltd
On Jan 20, T. Rowe Price Group Inc. (TROW) announced the purchase of the 26% share of the Unit Trust of India Asset Management Company Ltd. (UTI AMC) and UTI Trustee Company Pvt. Ltd., for INR 6.5 billion...
(LM) Legg Mason’s Earnings Report Underperforms Expectations
Legg Mason’s (LM) third quarter earnings of 28 cents per share missed the Zacks Consensus Estimate of 31 cents per share as well as the 30 cents per share from the second quarter of 2010.
However,...
($TROW) T. Rowe Price Group – Strong Momentum and Solid Quarterly Results
T. Rowe Price Group, Inc. (TROW) continues to outperform the market on strong fundamentals that include a return on equity (ROE) of 12.7% and a net profit margin of 17.5%.
Company Description
T....