Asset Management & Custody Banks

Goldman Sachs retained its Eaton Vance (NYSE: EV) Sell rating and lowered its Eaton Vance price target from $23 to $21 in a research report published today. In the report, Goldman Sachs states, "We retain our Sell rating on EV, reflecting our view that the shares will relatively underperform as...

Shares of Northern Trust (NASDAQ: NTRS) are lower on the session by 4.08%, currently trading at $35.73. The stock has been moving largely lower over the past three months and is currently trading below the 50-day average. Options traders are focusing on calls today. A short while ago the September...

Blackrock's (NYSE: BLK) iShares unit, the largest U.S. ETF issuer, introduced the iShares MSCI Emerging Markets Small Cap Index Fund (NYSE: EEMS) today as a small-cap complement to the firm's wildly popular iShares MSCI Emerging Markets Index Fund (NYSE: EEM). EEMS will be benchmarked to the MSCI...

Jefferies, citing a quarter slightly above estimates, is maintaining both its Hold rating and its $26 price target on Eaton Vance (NYSE: EV). In the report, Jefferies writes, “EV reported adjusted F3Q11 EPS of $0.53, $0.01 above our estimate and $0.03 above consensus. However, deteriorating fund...

Northern Trust (Nasdaq: NTRS) announced today that it has been appointed to provide transition management services to Northumberland County Council Pension Fund, extending its 10-year relationship with the local government pension scheme. “Northern Trust already provides custody and related...

Ladenburg Thalmann Financial Services Inc. (NYSE: LTS) today announced that it has signed a definitive agreement to acquire Securities America Financial Corporation and its subsidiaries, an independent broker-dealer and investment advisor with a broad nationwide presence, from Ameriprise Financial...

Shares of Legg Mason (NYSE: LM) are lower on the session by 1.81%, currently trading at $27.18. The stock has been moving largely lower over the past five weeks and is currently trading below the 50-day moving average. Options traders are buying puts on the name today. A short while ago the...

Bank of America Merrill Lynch is out with its report today on Eaton Vance (NYSE: EV), lowering its PO to $39 from $41. In its report, Bank of America Merrill Lynch writes, "EV reported July-end AUM of $199bn., a decline of 2% in the July quarter. While better than expected, we still need to adjust...

Citi has published a research report on Eaton Vance (NYSE: EV) lowering estimates on earnings per share. In the report, Eaton Vance wrote, "We estimate net LT inflows of $150M for F3Q11, down sharply vs. prior quarters and essentially nil organic growth (Figure 2). In turn, we forecast equities...

Bank of America has lowered the price objective on Eaton Vance (NYSE: EV) from $41 to $39 and maintains its Buy rating.

Below are the top large-cap asset management stocks on the NYSE and the NASDAQ in terms of dividend yield. BlackRock Inc (NYSE: BLK) has a dividend yield of 3.40%. BLK's shares closed at $165.14 yesterday. The Bank of New York Mellon Corporation (NYSE: BK) has a dividend yield of 2.60%. BK's...

Sterne Agee is out with its report today on Eaton Vance (NYSE: EV), lowering its PT to $32 from $33. In its report, Sterne Agee writes, "We are reducing our price target by $1 to $32. Our target is based on 12.0x 2012 calendar cash operating earnings plus the ~$2.15 of net cash & investments...

Harris & Harris Group, Inc., (Nasdaq: TINY) today announced it has invested $1,666,667 million in HzO, Inc., as part of a $7 million Series B Preferred financing. HzO, Inc., manufactures novel industrial coatings. The company is based in Salt Lake City, Utah. The HzO technology is a unique...

Jefferies is out with its report today on Eaton Vance (NYSE: EV), lowering its PT to $26 from $34. In its report, Jefferies writes, "Our revised $26 price target is based on an approx 12.5x multiple of our revised CY12 EPS est., a slight premium to peers. EV is currently trading at 12.0x our CY12...

Jefferies & Company has lowered the price target on Eaton Vance (NYSE: EV) from $34 to $26 and maintains its Hold rating.