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Citi Maintains Buy on State Street Corp (STT)
Wednesday, March 16, 2011 - 8:26am | 131Citi is out with its report today on State Street Corp (NYSE: STT), maintaining Buy. In a note to clients, Citi writes, "The stock has been trading in a 10.0x-12.0x forward P/E range compared to 19x and 18x on average during the past 10 and 20 years, respectively. Relative to its Trust and...
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Citi Lowers FII Target From $27 To $26
Friday, March 11, 2011 - 8:34am | 31Citi is lowering its PT on Federated Investors, Inc. (NYSE: FII) from $27 to $26. Federated Investors closed Thursday at $26.45.
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OZM Primed For Growth; Citi Affirms Buy Rating
Friday, March 11, 2011 - 8:24am | 140Citi is affirming its Buy rating and $21 PT on shares of Och-Ziff Capital Management (NYSE: OZM) following the conference keynote. “Three key positives emerged from CEO Mr. Dan Och's keynote presentation on Day 2 of the 14th annual Citi Financial Services Conference,” Citi writes. “First, favorable...
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Cohen & Steers, Inc. Board Declares Quarterly Dividend
Thursday, March 10, 2011 - 5:15pm | 72Cohen & Steers, Inc. (NYSE: CNS) announced that its Board of Directors declared the company's cash dividend for the first quarter of 2011 in the amount of $0.15 per share of common stock, increasing the dividend by $0.05 per share from the prior quarter's dividend. \ The dividend will be...
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Citi Maintains Invesco Hold, $27 PT (IVZ)
Thursday, March 10, 2011 - 10:11am | 106Citi affirmed its Invesco (NYSE: IVZ) Hold rating and $27 price target in a research report published today. In the report, Citi states, "Despite the overall AUM beat, we expect the stock to retreat given: 1) strong YTD absolute performance; and, 2) continued disappointing equities volumes...
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Legg Mason Reports Assets Under Management for February 2011 (LM)
Thursday, March 10, 2011 - 9:05am | 48Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $673 billion as of February 28, 2011. This month's AUM reflects the previously disclosed divestiture of an Asian equity manager that reduced assets under management by $2.2 billion.
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AllianceBernstein Announces February 28, 2011 Assets Under Management (AB)
Thursday, March 10, 2011 - 8:48am | 48AllianceBernstein and AllianceBernstein Holding (NYSE: AB) today announced that preliminary assets under management increased to $487 billion from $482 billion during February 2011. The 1.0% increase was due to positive investment returns, partially offset by net outflows, primarily in the...
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Northern Trust wins GB£1.2 billion mandate from Dyfed Pension Fund (NTRS)
Thursday, March 10, 2011 - 8:46am | 91Northern Trust (NASDAQ: NTRS) announced today that it has been appointed by the Dyfed Pension Fund, administered by Carmarthenshire County Council, to provide global custody and investment accounting services for GP£1.2 billion (approximately US$2 billion) in pension fund assets. This is the latest...
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UPDATE: J.P. Morgan Lowering Price Target On Federated Investors (FII)
Thursday, March 10, 2011 - 8:36am | 142J.P. Morgan Chase & Co. is lowering its price target on shares of Federated Investors (NYSE: FII) to $23 from $23.50, and has an Underweight rating on shares. In a note to clients, J.P. Morgan writes, "We are reiterating out Underweight on Federated Investors. We are lowering estimates as we...
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Mad Money Lightning Round: Cramer Likes MEMC Electronics (WFR, QCOM, BX, NBL, WTI, GLBL)
Thursday, March 10, 2011 - 3:32am | 263On CNBC's Mad Money, Jim Cramer said during the Lightning Round that MEMC Electronics (WFR) has “solar as well as semiconductor.” He added, “I think it's dirt cheap, I'm going to stick with it right here." For Qualcomm (QCOM), he said, "Everyone is buzzing that there's an oversupply of tablets...
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Fast Money Picks For March 10th (GM, BX, GLW, GS, RTN)
Wednesday, March 9, 2011 - 8:33pm | 283On CNBC's Fast Money, Tim Seymour said that you should buy the weakness in General Motors Company (NYSE: GM), because it is excelling in sales overseas. General Motors Company (GM) fell 1.44% today, and it closed at $32.25. Guy Adami likes The Blackstone Group L.P. (NYSE: BX). He said that it...
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Blackstone and Dahlman Rose & Co. Sign Agreement to Cooperate on Restructuring Services for Maritime Sector
Wednesday, March 9, 2011 - 11:06am | 72The Blackstone Group (NYSE: BX) and Dahlman Rose & Co. announced today an agreement to jointly provide financial advisory services to maritime clients seeking to recapitalize or restructure their balance sheets. The agreement encompasses maritime restructuring situations globally and relates to...
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Citi Comments On Meeting With Bank Of New York Mellon CFO
Wednesday, March 9, 2011 - 10:02am | 119In a report published Citi, it met with Bank of New York Mellon Corp. (NYSE: BK) CFO Todd Gibbons yesterday. Citi said that, in it's meeting with Gibbons, the key subjects discussed were the capital deployment initiatives, capital outlook under Basel III, international growth, and expense saves...
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Citi Affirms Buy on Legg Mason (LM)
Wednesday, March 9, 2011 - 8:59am | 94Citi is out with its report today on Legg Mason (NYSE: LM), affirming Buy. In a note to clients, Citi writes, "Affirm non-consensus Buy and $46 12-month target following CIRA sponsored investor meeting with CFO on 3/8. Overall, the session reinforced the dichotomy that despite likely sluggish AUM...
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SEI Announces AUM of $31B
Tuesday, March 8, 2011 - 10:12am | 72SEI (Nasdaq: SEIC) today announced that 2010 was a year of strong growth for the SEI Advisor Network as it signed on 406 new Registered Investment Advisors, increased assets under management to nearly $31 billion and generated $5 billion in new receipts. The number of new advisors that joined SEI...