Financial Sector Update for 04/02/2019: AMP,NOAH,SNH,FVE

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Top Financial Stocks

JPM +0.45%

BAC +0.70%

WFC -1.11%

C +0.40%

USB +0.12%

Financial stocks were fractionally higher in afternoon trading, including a slight advance for the NYSE Financial Index while shares of financial companies in the S&P 500 were just above unchanged as a group. The Philadelphia Housing Index was falling 0.1%.

Among financial stocks moving on news:

(+) Ameriprise Financial Services ( AMP ) rose over 3% after Tuesday saying it was selling its Ameriprise Auto & Home insurance unit to a subsidiary of American Family Insurance for $1.05 billion. The transaction is expected to close in the second half of 2019.

In other sector news:

(-) Noah Holding Ltd ( NOAH ) dropped nearly 4% after the Chinese asset manager's group president, Kenny Lam, was named head of the Asia-Pacific region and chief executive officer of Two Sigma's Hong Kong operations. Lam will begin his new job on April 8, Two Sigma said.

(-) Senior Housing Properties Trust ( SNH ) was down 16% on Tuesday after the real estate investment trust said it was changing five master leases with Five Star Senior Living ( FVE ) covering 184 of SNH's senior living communities beginning on Jan. 1, 2020 to address Five Star's deteriorating financial position. SNH also will terminate and replace pooling agreements for 77 other senior living communities.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Banking and loans
Referenced Symbols: AMP , NOAH , SNH , FVE

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