Asset Management Stocks Under Scanner -- Franklin Resources, KKR & Co., State Street, and WisdomTree Investments
NEW YORK, August 12, 2016 /PRNewswire/ --
Today's focus on Stock-Callers.com is on the Asset Management industry which is expected to undergo major transformation in the coming years due to regulatory changes, advancements in technology, and increasing customer demands. Equities under assessment are Franklin Resources Inc. (NYSE: BEN), KKR & Co. L.P. (NYSE: KKR), State Street Corp. (NYSE: STT), and WisdomTree Investments Inc. (NASDAQ: WETF). You can access of our complimentary research reports on these stocks now at:
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Franklin Resources
San Mateo, California-based Franklin Resources Inc.'s stock finished Thursday's session 0.25% higher at $35.65 with a total volume of 1.39 million shares traded. The Company's shares have advanced 3.42% in the past month and 0.06% over the previous three months. The stock is trading 4.01% above its 50-day moving average. Additionally, shares of Franklin Resources, which through its subsidiaries, provides its services to individuals, institutions, pension plans, trusts, and partnerships, have a Relative Strength Index (RSI) of 55.78.
On August 9th, 2016, Franklin Resources reported preliminary month-end assets under management by the company's subsidiaries of $739.9 billion at July 31st, 2016, compared to $732.1 billion at June 30h, 2016, and $854.7 billion at July 31st, 2015. Visit us today and download your complete report on BEN for free at:
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KKR & Co.
On Thursday, shares in New York-based KKR & Co. L.P. recorded a trading volume of 1.42 million shares. The stock ended the session 1.23% higher at $14.81. The Company's shares have advanced 20.80% in the last one month and 15.40% in the previous three months. The stock is trading 12.22% above its 50-day moving average and 6.30% above its 200-day moving average. Moreover, shares of KKR & Co., which specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments, have an RSI of 66.92.
On July 28th, 2016, Gland Pharma Limited, a leading Indian pure-play generic injectable pharmaceutical products company owned by KKR Floorline Investments Pte. Ltd. (together with its affiliates, "KKR) announced the signing of a definitive agreement under which Shanghai Fosun Pharmaceutical Co. Ltd., a leading Chinese health care provider, will acquire an approximate 86% stake in Gland for up to US$1.26 billion. The complimentary research report on KKR can be accessed at:
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State Street
Shares in Boston, Massachusetts headquartered State Street Corp. closed the day 1.20% higher at $68.50. The stock recorded a trading volume of 1.58 million shares. The Company's shares have gained 24.98% in the last month, 14.87% in the previous three months, and 4.52% on an YTD basis. The stock is trading 16.15% and 13.00% above its 50-day and 200-day moving averages, respectively. Additionally, shares of State Street, which through its subsidiaries, provides a range of financial products and services to institutional investors worldwide, have an RSI of 76.04.
On August 2nd, 2016, State Street announced enhancements to PAM® for Investments, its comprehensive accounting and management platform, to help clients comply with the International Accounting Standard Board's IFRS 9 (the Financial Instruments mandate), which replaces IAS 39 and goes into effect January 2018. This new standard, which impacts all entities with financial instruments on the balance sheet regulated under IFRS, fundamentally changes how financial assets are accounted for, including how instruments are classified and measured, and how they are impaired. Register for free on Stock-Callers.com and download the PDF research report on STT at:
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WisdomTree Investments
At the close, shares in New York-based WisdomTree Investments Inc. ended at $10.43, climbing 1.07%. The stock recorded a trading volume of 1.25 million shares. The Company's shares are trading below their 50-day moving average by 1.49%. Furthermore, shares of WisdomTree Investments, which through its subsidiaries, operates as an exchange-traded funds (ETFs) sponsor and asset manager, have an RSI of 48.54.
On July 29th, 2016, WisdomTree Investments reported net income of $3.7 million, or $0.03 diluted EPS, in Q2 2016. Excluding the previously announced charge of $6.0 million related to the Company's accelerated buyout of minority shareholders in its European business, adjusted net income was $9.6 million, or $0.07 diluted EPS. This compares to $24.2 million, or $0.18 diluted EPS, in Q2 2015. U.S. listed ETF assets under management ("AUM") were $38.0 billion at June 30th, 2016, down 26.3% from December 31st, 2015 primarily due to $10.3 billion of net outflows and $3.5 billion of negative market movement. European listed AUM was $952.0 million at June 30th, 2016, up 23.0% from December 31st, 2015 primarily due to $251.2 million of net inflows. Get free access to your research report on WETF at:
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