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BLK

BlackRock

$399.68

-0.66 (-0.16%)

, EV

Eaton Vance

$36.77

0.08 (0.22%)

16:54
01/10/19
01/10
16:54
01/10/19
16:54

Traditional asset managers lower after Deutsche Bank downgrade

Shares of the traditional asset managers BlackRock (BLK), Eaton Vance (EV), Invesco (IVZ), Affiliated Managers Group (AMG), and Legg Mason (LM) are all lower in after-hours trading, with most trading down just under 1%.

BLK

BlackRock

$399.68

-0.66 (-0.16%)

EV

Eaton Vance

$36.77

0.08 (0.22%)

IVZ

Invesco

$17.53

0.21 (1.21%)

AMG

Affiliated Managers

$104.17

0.73 (0.71%)

LM

Legg Mason

$26.84

-0.09 (-0.33%)

  • 16

    Jan

  • 23

    Jan

  • 29

    Jan

  • 11

    Feb

BLK BlackRock
$399.68

-0.66 (-0.16%)

01/10/19
DBAB
01/10/19
DOWNGRADE
Target $405
DBAB
Hold
BlackRock downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Brian Bedell downgraded BlackRock to Hold and lowered his price target for the shares to $405 from $444.
01/09/19
WELS
01/09/19
NO CHANGE
Target $410
WELS
Market Perform
BlackRock price target lowered to $410 from $440 at Wells Fargo
Wells Fargo analyst Trey Harris lowered his price for BlackRock to $410 from $440 to reflect very weak equity market action globally. The analyst reiterates a Market Perform rating on the shares.
01/10/19
DBAB
01/10/19
DOWNGRADE
DBAB
Deutsche Bank downgrades traditional asset managers
Deutsche Bank analyst Brian Bedell downgraded traditional asset managers, saying their fundamentals are "unlikely to improve anytime soon." The analyst believes "investor neglect" toward the stocks should continue on fears of a market downturn, as well as due to poor fundamentals from product outflows and pressure on fee rates and operating margins. Bedell added that "management teams may more seriously begin to consider M&A should business pressures become more extreme for a prolonged period." The analyst downgraded, to Hold from Buy, BlackRock (BLK), Eaton Vance (EV), Invesco (IVZ), Affiliated Managers Group (AMG), and Legg Mason (LM).
01/04/19
DADA
01/04/19
NO CHANGE
Target $58
DADA
Envestnet price target lowered to $58 from $62 at DA Davidson
DA Davidson analyst Peter Heckmann lowered his price target on Envestnet (ENV) to $58, citing his estimated market downdraft of 9.2%-9.8% in Q4 weighing on the shares. The analyst states that about 60% the company's revenue is directly tied to the base of assets under management, warning that the market action impact is "significant". Longer term, Heckmann keeps his Buy rating on Envestnet, saying the 4.9% equity stake in the company taken by BlackRock (BLK) is an "important and positive development" leading to "deeper technology integration with one of the leading investment management firms".
EV Eaton Vance
$36.77

0.08 (0.22%)

11/28/18
11/28/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Eaton Vance (EV) downgraded to Underweight from Neutral at JPMorgan with analyst Kenneth Worthington saying the company's slowing organic growth will cut into its premium market valuation. 2. CME Group (CME) downgraded to Neutral from Buy at UBS with analyst Alex Kramm saying he believes the current valuation already reflects a higher volatility environment. 3. Ceragon Networks (CRNT) downgraded to Hold from Buy at Needham with analyst Alex Henderson saying the company has delivered "solid results" and that its stock has benefited from strong execution and expectations of further improvement from 5G build-outs, but believes its valuation reflects the positive news. 4. Cracker Barrel (CBRL) downgraded to Underperform from Hold at Gordon Haskett analyst Jeff Farmer saying the share price run-up of 22% over the last 8 weeks is outpacing the company's fundamental prospects. 5. YY (YY) downgraded to Neutral from Overweight at JPMorgan with analyst Alex Yao citing a lack of catalysts for his downgrade of the shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/28/18
JPMS
11/28/18
DOWNGRADE
Target $38
JPMS
Underweight
Eaton Vance downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Kenneth Worthington downgraded Eaton Vance to Underweight and lowered his price target for the shares to $38 from $46. The company's slowing organic growth will cut into its premium market valuation, Worthington tells investors in a research note.
01/10/19
DBAB
01/10/19
DOWNGRADE
Target $39
DBAB
Hold
Eaton Vance downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Brian Bedell downgraded Eaton Vance to Hold and lowered his price target for the shares to $39 from $57.
IVZ Invesco
$17.53

0.21 (1.21%)

01/08/19
EVER
01/08/19
DOWNGRADE
EVER
In Line
Invesco downgraded to In Line from Outperform at Evercore ISI
Evercore ISI analyst Glenn Schorr downgraded Invesco to In Line and lowered its price target to $20 saying he expects 2019 to be another tough year and doesn't foresee an environment that gets Portfolio Managers motivated to add exposure to the group. Additionally, the industry has to contend with net flow pressures, fee compression, and continued pressure from retail distributors in terms of shrinking product lists.
01/10/19
DBAB
01/10/19
DOWNGRADE
Target $18
DBAB
Hold
Invesco downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Brian Bedell downgraded Invesco to Hold and lowered his price target for the shares to $18 from $25.
12/04/18
12/04/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Hold from Buy at HSBC with analyst Erwan Rambourg saying it is "too late to sell" Apple shares following the selloff in November, but it is also "too early to buy." 2. Owens-Illinois (OI) downgraded to Underweight from Sector Weight at KeyBanc with analyst Adam Josephson saying the company has struggled to grow volume in recent years and experienced substantial demand declines in the Great Recession. 3. Invesco (IVZ) downgraded to Market Perform from Outperform at Wells Fargo with analyst Christopher Harris saying he sees weakening trends in Invesco's core business along with risks from the pending Oppenheimer acquisition. 4. Intel (INTC) downgraded to Underperform from Market Perform at Northland with analyst Gus Richard citing his view that trade tensions caused companies to pull in demand to beat the expected increase in tariffs. 5. Fastenal (FAST) downgraded to Neutral on valuation at Longbow with analyst Chris Dankert saying shares approached his $63 price target and survey results from his distributor survey indicates lower growth expectations and increased price/cost pressures. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AMG Affiliated Managers
$104.17

0.73 (0.71%)

01/10/19
DBAB
01/10/19
DOWNGRADE
Target $106
DBAB
Hold
Affiliated Managers downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Brian Bedell downgraded Affiliated Managers Group to Hold and lowered his price target for the shares to $106 from $158.
10/29/18
BRRR
10/29/18
NO CHANGE
Target $150
BRRR
Outperform
Affiliated Managers price target lowered to $150 from $200 at Barrington
Barrington analyst Alexander Paris lowered his price target for Affiliated Managers Group to $150 from $200 following the company's Q3 results while reiterating an Outperform rating on the shares. Affiliated Managers' shares are down 45% year-to-date and currently trade at a discount to the peer group average, Paris tells investors in a post-earnings research note. The analyst, however, believes a premium valuation is warranted given the likelihood of additional accretive investments, the ongoing share repurchase program and a recently initiated dividend growing faster than earnings. He notes the company's Q3 results topped expectations.
01/08/19
BRRR
01/08/19
NO CHANGE
BRRR
Affiliated Managers price target, Q4, FY18 estimates lowered at Barrington
Barrington analyst Alexander Paris reduced his Q4 and FY18 estimates for Affiliated Managers to reflect the market sell-off. The Q4 estimates now call for economic EPS of $3.50 and revenue of $570.0M, below the firm's prior estimates of $3.65 and $605.0M, respectively. The analyst reiterated an Outperform rating on Affiliated Managers, saying the valuation is attractive, but lowered his price target to $135 from $150.
LM Legg Mason
$26.84

-0.09 (-0.33%)

07/05/18
DBAB
07/05/18
NO CHANGE
DBAB
Buy
Legg Mason shares remain undervalued, says Deutsche Bank
After meeting with management, Deutsche Bank analyst Brian Bedell says shares of Legg Mason remain undervalued. The analyst believes management's retail distribution efforts and collaboration with its affiliates in product design will lift the company's long-term product organic growth rate into at least a positive 1%-2% range this fiscal year and enable at least modest positive operating leverage generation over many of the next several quarters. He views Legg Mason shares as among the better value plays in the asset manager space and keeps a Buy rating on the name.
10/25/18
WELS
10/25/18
NO CHANGE
Target $34
WELS
Outperform
Legg Mason price target lowered to $34 from $39 at Wells Fargo
Wells Fargo analyst Christopher Harris lowered his price target for Legg Mason to $34 from $39 after quarterly results to mainly reflect recent decreased in asset manager and general equity market multiples. The analyst reiterates an Outperform rating on the shares.
01/10/19
DBAB
01/10/19
DOWNGRADE
Target $27
DBAB
Hold
Legg Mason downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Brian Bedell downgraded Legg Mason to Hold and lowered his price target for the shares to $27 from $31.

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PANDY

Pandora A/S

$0.00

(0.00%)

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$0.00

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PCFBY

Pacific Basin Shipping

$0.00

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WFAFY

Wesfarmers

$0.00

(0.00%)

08:27
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RTOKY

Rentokil

$0.00

(0.00%)

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BNTGY

Brenntag

$0.00

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LOIMF

Loomis AB

$0.00

(0.00%)

08:24
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SFTBY

SoftBank; also use SFTBF

$0.00

(0.00%)

08:21
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CYDY

CytoDyn

$0.00

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MET

MetLife

$45.32

0.28 (0.62%)

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AMZN

Amazon.com

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4.01 (0.24%)

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CMCSA

Comcast

$36.21

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CMCSK

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$0.00

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COST

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$213.59

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TMO

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DHR

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A

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TECH

Bio-Techne

$163.24

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NEM

Newmont Mining

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GOLD

Barrick Gold

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KRC

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NTDOY

Nintendo

$0.00

(0.00%)

17:55
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