Janus Capital Group, Inc.
) hit a new 52-week high, touching $10.20 in the first half of
the trading session on Nov 5. However, the stock closed the
session at $10.05, which reflects a year-to-date return of 14.1%.
The trading volume for the session was 3.4 million shares, up
21.2% from average volume of 2.8 million.
ARTISAN PTNR AM (APAM): Free Stock Analysis
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Despite the strong price appreciation, this Zacks Rank #2 (Buy)
investment management firm has plenty of upside left, given its
positive estimate revisions over the last 30 days and expected
year-over-year earnings growth of 13.3% for 2013.
Janus Capital's impressive price performance came on the back of
strong third-quarter 2013 results comprising top-line growth,
increased assets under management (AUM) and reduced operating
expenses. Additionally, the company maintains a robust capital
position in compliance with the regulatory guidelines.
On Oct 24, Janus Capital declared third-quarter earnings of 17
cents per share, in line with the Zacks Consensus Estimate.
Moreover, net income of $32.6 million marked a 29.9% year over
Total revenue rose 4.2% year over year to $217.7 million,
primarily due to higher investment management fee revenues,
partially offset by negative performance fees. Moreover as
of Sep 30, 2013, Janus Capital reported AUM of $166.7 billion, up
from $158.2 billion as of Sep 30, 2012.
Estimate Revisions Show Potency
In the last 30 days, the Zacks Consensus Estimate for 2013
increased 3.3% to 62 cents per share. For 2014, the Zacks
Consensus Estimate advanced 1.4% to 72 cents per share over the
same time frame.
Some better-performing banks worth considering include
Artisan Partners Asset Management Inc.
GAMCO Investors, Inc.
Kohlberg Kravis Roberts & Co. L.P.
). All these stocks carry a Zacks Rank #1 (Strong Buy).