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Citigroup Lowers PT On AllianceBernstein To $18
Friday, June 10, 2011 - 6:41am | 25Citigroup has lowered the price target on AllianceBernstein (NYSE: AB) from $19 to $18 and maintains its Hold rating.
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AllianceBernstein Announces May 31, 2011 Assets Under Management of $473B vs. $485B Prior Period
Thursday, June 9, 2011 - 4:30pm | 49AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) today announced that preliminary assets under management decreased to $473 billion from $485 billion during May 2011. The 2.5% decline was due to negative investment returns and net asset outflows, primarily from the Institutions...
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Gabelli Maintains Buy on Waddell & Reed Financial
Thursday, June 9, 2011 - 9:32am | 153Gabelli is out with its report today on Waddell & Reed Financial (NYSE: WDR), maintaining Buy. In a note to clients, Gabelli writes, "Waddell & Reed is well positioned to participate in the growth of managed investment assets. The company has a broad network for distribution through its 1,...
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Citi Maintains Buy on Franklin Resources
Thursday, June 9, 2011 - 7:53am | 126Citi is out with its report today on Franklin Resources (NYSE: BEN), maintaining Buy. In a note to clients, Citi writes, "We rate BEN shares Buy/Low Risk (1L). In our opinion, BEN is an inexpensive a global asset manager with a strong balance sheet. Despite putting up best in class AUM growth and...
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Jefferies Has Hold On Franklin Resources
Thursday, June 9, 2011 - 7:24am | 95Jefferies & Co. has a Hold rating and a $130 price target on shares of Franklin Resources (NYSE: BEN). In a note to investors, Jefferies writes, "Yesterday BEN reported May 31 total assets of $735.8B, up 0.4% m/m and slightly above our $734B estimate. Long-term net flows were positive, with...
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Citi Reiterates Buy and PT of $122 on Affiliated Managers Group
Wednesday, June 8, 2011 - 9:15am | 88Citi reiterated its Buy rating on Affiliated Managers Group (NYSE: AMG). At the same time, Citi left its price target on the company's stock unchanged at $122, following a meeting with the company's management. In a research report published today, Citi states, "In our view, the meetings were...
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Benzinga's Top Upgrades
Wednesday, June 8, 2011 - 8:14am | 134Ticonderoga upgraded Franklin Resources Inc (NYSE: BEN) from “neutral” to “buy.” BEN's shares closed at $122.47 yesterday. Franklin Resources' trailing-twelve-month operating margin is 35.02%. Analysts at Morgan Stanley upgraded Clorox Company (NYSE: CLX) from “underweight” to “equal-weight.”...
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California Muni Bonds - Is The Reward Worth The Risk? (Part 3)
Wednesday, June 8, 2011 - 4:45am | 851To invest in California municipal bonds, an investor can consider the following investments: 1. Individual municipal bond Brokers from major brokerage houses often recommend municipal bonds to their clients, particularly when their brokerages are the underwriters of those bonds. Every major...
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Jefferies Has Hold Rating On Franklin Resources
Tuesday, June 7, 2011 - 7:51am | 181Jefferies & Co. has a Hold rating on Franklin Resources, Inc. (NYSE: BEN) as it discusses asset managers. In a note to clients, Jefferies writes, "We anticipate the majority of asset managers will report May 31st long-term assets (i.e., excluding money market funds) that are either flat or...
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UPDATE: Stifel Nicolaus Raises PT on SEI Investments to $25.50
Friday, June 3, 2011 - 9:25am | 90Stifel Nicolaus is out with its report today on SEI Investments (NASDAQ: SEIC), raising its PT from $23.50 to $25.50. In a note to clients, Stifel Nicolaus writes, "No big GWP signings announced, but prospecting activity and the pipeline remain strong. Optimism about new client signings is still...
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Stifel Nicolaus Raises PT On DSGX, PEET, SEIC
Friday, June 3, 2011 - 8:02am | 59Stifel Nicolaus has raised the price target on the following companies: Descartes Systems Group (NASDAQ: DSGX) from $8.50 to $9, Buy Peet's Coffee & Tea (NASDAQ: PEET) from $48 t0 $60, Buy SEI Investments Company (NASDAQ: SEIC) from $23.50 to $25.50, Buy
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Goldman Sachs Reiterates Buy Rating On State Street
Friday, June 3, 2011 - 7:46am | 97According to Goldman Sachs, State Street (NYSE: STT) Buy rating is reiterated. Goldman Sachs said that it hosted a meeting with STT's CEO, Jay Hooley, and CFO, Ed Resch. “We walked away confident in STT's ability to deliver good organic growth and positive operating leverage, with less uncertainty...
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May ETF Stats Part I
Thursday, June 2, 2011 - 2:53pm | 313May 2011 was another productive month for the exchange traded products industry as total assets under management at U.S.-listed ETFs and ETNs jumped to $1.11 trillion from $798 billion a year earlier. There are now 1,254 exchange traded products listed in the U.S., an increase of more than 25% from...
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UPDATE: Bank of America Merrill Lynch Lowers PO on Janus Capital Group to $11
Thursday, June 2, 2011 - 9:27am | 94Bank of America Merrill Lynch is out with its report today on Janus Capital Group (NYSE: JNS), lowering its PO from $14 to $11. In a note to clients, Bank of America Merrill Lynch writes, "We are lowering our estimates and price objective to reflect continued underperformance which in turn could...
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Citi Reiterates Hold on Federated Investors, Reduces PT to $24
Thursday, June 2, 2011 - 8:17am | 112Citi Reiterated its Hold rating on Federated Investors (NYSE: FII). At the same time, Citi lowered its price target on the company's stock from $25 to $24. In a research report published today, Citi states, "We see FII struggling against deteriorating macro-economic backdrop and see the stock...