RECENT Active Management RESEARCH
Alternative asset managers saw improved operating performances in 2H16 on rising broader markets (SPY) (SPX) and a better global economic outlook.
KKR (KKR) is expected to post earnings per share (or EPS) of $0.49 in 1Q17 as compared to a loss per share of $0.65 in the corresponding quarter last year.
The Blackstone Group (BX), the world’s largest alternative asset manager, is expected to see earnings per share of $0.73 in 1Q17, compared to EPS of $0.68 in 4Q16 and $0.31 in 1Q16.
PNC Financial Services (PNC) is expected to post earnings per share (or EPS) of $1.84 in 4Q16, lower than its EPS of $1.87 in 4Q15 and in line with its EPS in 2Q16.
Alternative asset managers such as Blackstone Group, KKR & Co., and The Carlyle Group saw improved performances in 2H16 on improved broader markets and rising holdings valuations.
In this series, we’ll look at Prospect Capital’s expected performance, deployments, portfolio strategy, yields, balance sheet strength, dividends, and valuations.
Apollo Investment (AINV) posted earnings per share of $0.18 in fiscal 2Q17, compared to analyst estimates of $0.17. In this series, we’ll study AINV’s performance, yields, capital deployment, portfolio, dividends, and valuations.
BlackRock (BLK), the world’s largest asset manager, is expected to post earnings per share (or EPS) of $5.09 in 4Q16.
Affiliated Managers Group (AMG) is expected to benefit from rising equities and improved macro fundamentals.
Alternative asset managers such as Blackstone Group (BX), KKR (KKR), and Carlyle Group (CG) have rebounded sharply over the past three months.
Carlyle Group (CG) has delivered positive but weak performance over the past few quarters, as compared to its performance in 2015.
Closed-end managers deploy money in middle market companies engaged in businesses across sectors by raising capital through share issuances.
Donald Trump’s unexpected election ushered in short-run uncertainty about markets and policies—not only in the United States but also globally.
State Street (STT) stock has risen 10.0% over the past quarter. That came on the back of two quarters of improved operating performance.
T. Rowe Price (TROW), in line with other asset managers, saw a strong rebound in earnings during 3Q16. It posted diluted EPS of $1.28.
KKR & Company has seen a recovery after substantial losses in 1Q16. In 3Q16, it posted EPS of $0.71, beating Wall Street analyst estimates of $0.65.
While the demand for high yields has increased, the options for investors to obtain high yields are decreasing. Interest rates after the global economic crisis have been staggeringly low in economies around the world.
Ares Capital (ARCC) posted EPS (earnings per share) of $0.43, beating Wall Street analysts’ estimate of $0.39 in 3Q16.
In his November 2016 Insights newsletter, Richard Bernstein talked about the growing opportunity cost of investing in equities (SPHD) (VIG).
Prospect Capital (PSEC) reported fiscal 1Q17 EPS of $0.22—lower than the analyst estimates of $0.24. PSEC saw lower earnings on lower investment income.