Asset Managers

According to a report by Reuters, State Street Corp (NYSE: STT) is in talks to acquire General Electric Company (NYSE: GE)'s $115 billion asset management business. Reuters, citing "people familiar with the matter," reported that State Street's bid may have been superior to...

Shares of Legg Mason Inc (NYSE: LM) hit a new 52-week low of $29.60 on Friday after the company reported its third quarter results and confirmed a series of strategic investments and acquisitions. Legg Mason earned $1.45 per share on revenue of $659.56 million during the third quarter. Wall...

Shares of Legg Mason Inc (NYSE: LM) hit a new 52-week low of $33.59 on Wednesday after the company reported its December 2015 assets under management. Legg Mason noted that its preliminary assets under management of $671.5 billion as of the end of December includes preliminary long-term net...

In a report published Friday, Goldman Sachs analyst Alexander Blostein commented that he expects Asset Managers to report "soft results" and deteriorating organic growth for most firms. Blostein noted that U.S. equities represent a large source of outflows with $53 billion rotated out of domestic...

In a report published Wednesday, Jefferies analyst Daniel Fannon upgraded shares of Legg Mason Inc (NYSE: LM) to Buy from Hold with a price target raised to $67 from a previous $50 given the company's "strong" growth outlook and diversified portfolio. Fannon wrote that Legg Mason has recorded $11...

William Katz of Citigroup on Thursday introduced a potential pair trade between Overweight-rated Affiliated Managers Group, Inc. (NYSE: AMG) and Underweight-rated T. Rowe Price Group Inc (NASDAQ: TROW) given a “favorable trade-off” between the two asset managers. Katz offers four...

Craig Siegenthaler of Credit Suisse downgraded shares of Invesco Ltd. (NYSE: IVZ) on Tuesday to Neutral from Buy with a $45 price target due to valuation concerns. Shares of Invesco outperformed the average traditional asset manager by nine percent in 2014, according to Siegenthaler, who notes that...

Craig Siegenthaler of Credit Suisse downgraded shares of Apollo Global Management LLC (NYSE: APO) on Tuesday to Neutral from Outperform with a $25 price target. According to Siegenthaler, it will be difficult for the company's private equity business to deploy its $33 billion of “dry-powder” and...

Golman Sachs says, "We expect the theme of volatile markets to dampen 2Q asset manager earnings. We forecast negative organic growth, the first quarter in over a year and our 2Q estimates are 10% below the Street. To be sure, the group (down -19% YTD) repriced the challenging operating backdrop,...