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Eaton Vance Corp. Reports March 31, 2011 AUM of $198.0B
Wednesday, April 13, 2011 - 8:58am | 36Eaton Vance Corp. (NYSE: EV) today reported assets under management of $198.0 billion on March 31, 2011. This compares to $191.7 billion on January 31, 2011, the close of the Company's first fiscal quarter.
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Goldman Sachs Raised EPS Estimates for Legg Mason
Tuesday, April 12, 2011 - 8:58pm | 168In a report published earlier today, Goldman Sachs noted that Legg Mason (NYSE: LM) beat their estimates for March assets under management with $677.6b compared to estimates of $669.3b. This was primarily due to better than expected fixed income flows and also better equity performance. Due to...
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Blackstone and Alta Resources to Invest up to $1 billion to Acquire and Develop Unconventional Oil & Gas Assets in North America
Tuesday, April 12, 2011 - 8:46am | 55Alta Resources, LLC and Blackstone Capital Partners, an affiliate of The Blackstone Group (NYSE: BX), announced today the formation of Alta Energy Partners, and a concurrent commitment to invest up to $1 billion via this entity to acquire and develop unconventional oil and gas assets in North...
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Sterne Agee Comments On Franklin Resources March AUM
Tuesday, April 12, 2011 - 8:37am | 126Franklink Resources (NYSE: BEN) reported March assets under management of $703.5 billion, up 1.4% for the month and 4.9% for the quarter. Sterne Agee had anticipated ending AUM of just over $697 billion. The biggest variance versus Sterne's model was in the Global Equity category where based on the...
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Citi Maintains Hold on Ameriprise Financial Inc (AMP)
Tuesday, April 12, 2011 - 8:29am | 95Citi is out with its report on Ameriprise Financial (NYSE: AMP), maintaining Hold. In a note to clients, Citi writes, "We rate the shares of Ameriprise Hold/Medium Risk (2M). The company's asset management and financial-planning-oriented business model should consistently generate above-average...
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Oppenheimer Reiterates PT And Rating, Raises Estimates On SEIC
Tuesday, April 12, 2011 - 8:11am | 112Oppenheimer is reiterating its price target of $29 and its Outperform rating on SEI Investments Company (NASDAQ: SEIC) and has slightly raised its estimates on the stock to reflect recent market strength and improved fund flows. In the report, Oppenheimer writes, “We remain optimistic about SEI's...
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UPDATE: J.P. Morgan Raises PT on Franklin Resources to $134 (BEN)
Tuesday, April 12, 2011 - 8:06am | 128J.P. Morgan is out with its report today on Franklin Resources (NYSE: BEN), raising its PT from $133 to $134. In a note to clients, J.P. Morgan writes, "Franklin Resources released its month-end AUM for March 2011, and the numbers were good. AUM increased 1.4%, from $693.7 bn in February 2011 to $...
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Legg Mason Reports Assets Under Management of $678B
Tuesday, April 12, 2011 - 8:05am | 23Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $678 billion as of March 31, 2011.
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Deutsche Bank Maintains Hold Rating On BEN
Tuesday, April 12, 2011 - 7:58am | 85Deutsche Bank has issued a report reiterating the Hold Rating on Franklin Resources (NYSE: BEN). According to the report, “We continue to view BEN as well positioned over the long term given its diversified products/distribution, good long term investment performance, and strong balance sheet, but...
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Deutsche Bank Maintains Buy Rating On IVZ
Tuesday, April 12, 2011 - 7:50am | 65Deutsche Bank has issued a report reiterating a Buy Rating on Invesco (NYSE: IVZ). Deutsche Bank writes, “Given Invesco's good long-term performance, broad product and distribution footprint, margin upside, cash flow generation, and attractive relative valuation, we like the risk/reward, and...
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KBW Maintains MP Rating, $24 PT On Shares Of AB
Tuesday, April 12, 2011 - 7:46am | 69AllianceBernstein Holding L.P. (NYSE: AB) reported March-ending AUM of $477bn, down 2% from the prior quarter, KBW reports. “We estimate that outflows may have been around $7bn or so in March, mainly from institutional equity products,” KBW writes. “Lower EPU estimates to reflect lower than...
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Jefferies Maintains Hold on Franklin Resources (BEN)
Tuesday, April 12, 2011 - 7:45am | 111Jefferies is out with its report today on Franklin Resources (NYSE: BEN), maintaining Hold. In a note to clients, Jefferies writes, "The Global Bond Fund is BEN's primary source of inflows, accounting for over half of all inflows in 2010. BEN's lack of sales diversity within its fund family has...
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J.P. Morgan Comments On Invesco Month-End Data
Tuesday, April 12, 2011 - 7:24am | 92According to J.P. Morgan, Invesco (NYSE: IVZ) released its month-end AUM update today and announced 0.1% MoM increase in total AUM. J.P. Morgan reported that such an increase appears pretty insignificant, especially compared with Franklin, which saw assets up 1.4% for the month. “However, our...
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Invesco Announces March, 31 Assets Under Management of $641.9B
Monday, April 11, 2011 - 4:49pm | 81Invesco Ltd. (NYSE: IVZ) today reported preliminary month-end assets under management of $641.9 billion, an increase of 0.1% month over month. The month over month increase in AUM was driven by positive net long-term flows and market returns offset by foreign exchange which reduced AUM by $0.9...
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J.P. Morgan Comments On Legal Expenses For STT, BK
Monday, April 11, 2011 - 7:41am | 154In commenting on trust and processors, J.P. Morgan says that “1Q earnings should be marked by few key drivers: 1) good performance in the equity markets should bode well for asset management and asset servicing.” “2) Some recovery in F/X volumes but volatility still down; 3) net interest margin...