NEW YORK, October 24, 2016 /PRNewswire/ --
Stock-Callers.com today evaluates the most recent performances of the following Asset Management firms: The Bank of New York Mellon Corp. (NYSE: BK), Invesco Ltd (NYSE: IVZ), The Blackstone Group L.P. (NYSE: BX), and Franklin Resources Inc. (NYSE: BEN). These equities belong to the Financials sector which changed barely in afternoon trading on Friday, October 21, 2016. As per an article on the NASDAQ, the NYSE Financial Sector Index slipped less than 0.1%, while financial companies in the S&P 500 Index retreated 0.1%. Download the free research reports on these stocks today: http://stock-callers.com/registration
Bank of New York Mellon
New York headquartered The Bank of New York Mellon Corp.'s stock finished last Friday's session 1.89% higher at $43.05. A total volume of 12.00 million shares was traded, which was above their three months average volume of 4.74 million shares. The Company's shares have gained 6.69% in the past month, 10.77% in the previous three months, and 5.89% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 6.48% and 11.55%, respectively. Additionally, shares of Bank of New York Mellon, which provides financial products and services to institutions, corporations, and high net worth individuals in the US and internationally, have a Relative Strength Index (RSI) of 69.92.
On October 20th, 2016, Bank of New York Mellon reported Q3 2016 net income applicable to common shareholders of $974 million, or $0.90 per diluted common share, or $979 million, or $0.90 per diluted common share, as adjusted. In Q3 2015, net income applicable to common shareholders was $820 million, or $0.74 per diluted common share, or $828 million, or $0.74 per diluted common share, as adjusted. The company reported that total revenue of $3.9 billion increased 4% on both a GAAP and adjusted basis as compared to the previous year.
On October 21st, 2016, research firm Morgan Stanley upgraded the Company's stock rating from 'Underweight' to 'Equal-Weight'. See our free and comprehensive research report on BK at: http://stock-callers.com/registration/?symbol=BK
On Friday, shares in Atlanta, Georgia-based Invesco Ltd ended the session 0.03% higher at $29.83. The stock recorded a trading volume of 3.31 million shares. The Company's shares have gained 5.99% in the previous three months. The stock is trading 2.89% above its 200-day moving average. Moreover, shares of Invesco, which provides its services to retail clients, institutional clients, high-net worth clients, public entities, corporations, unions, non-profit organizations, endowments, foundations, pension funds, financial institutions, and sovereign wealth funds, have an RSI of 41.51.
On October 13th, 2016, Invesco announced that it will report its Q3 2016 results on October 27th, 2016 at 6:55 a.m. ET. A conference call will be held at 9 a.m. ET on that day to discuss the results.
On October 14th, 2016, research firm Deutsche Bank downgraded the Company's stock rating from 'Buy' to 'Hold'. The research firm also revised downwards its previous target price from $36 to $32. IVZ free research report PDF is just a click away at: http://stock-callers.com/registration/?symbol=IVZ
New York-based The Blackstone Group L.P.'s shares gained 1.91%, closing the session at $24.07. The stock recorded a trading volume of 4.43 million shares, which was above its three months average volume of 3.52 million shares. The Company's shares are trading 7.05% below their 200-day moving average. Additionally, shares of Blackstone Group, which provides financial advisory services to its clients, have an RSI of 34.57.
On October 21st, 2016, Bloomberg reported that the deal by China's Anbang Insurance Group Co. to purchase a landmark Southern California hotel near a major naval base from Blackstone Group L.P. was called off following opposition from the U.S. national-security officials. As per the article, Blackstone ended the sale of the Hotel del Coronado near San Diego, estimated to be worth about $1 billion, after concerns were raised by the Committee on Foreign Investment in the US. Sign up for your complimentary report on BX at: http://stock-callers.com/registration/?symbol=BX
On Friday, shares in San Mateo, California-based Franklin Resources Inc. recorded a trading volume of 2.19 million shares. The stock ended the day 0.29% lower at $34.48. The Company's shares are trading below their 200-day moving average by 2.39%. Furthermore, shares of Franklin Resources, which through its subsidiaries, provides its services to individuals, institutions, pension plans, trusts, and partnerships, have an RSI of 44.78.
On October 17th, 2016, Franklin Limited Duration Income Trust, a closed-end investment company managed by Franklin Advisers, Inc., announced that its Board has approved the adoption of a managed distribution plan whereby the Fund will, beginning in January of 2017, make monthly distributions to common shareholders at an annual minimum fixed rate of 10%, based on the average monthly net asset value (NAV) of the Fund's common shares. Register for free on Stock-Callers.com and download the latest research report on BEN at: http://stock-callers.com/registration/?symbol=BEN
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