Top Financial Stocks
Financial stocks still were moderately higher late in Monday afternoon trading, including a more than 0.3% gain for the NYSE Financial Index while shares of financial companies in the S&P 500 also were climbing nearly 0.4%. The Philadelphia Housing Index was falling slightly more than 0.9%.
Among financial stocks moving on news:
(-) CME Group ( CME ) declined Monday after new regulatory documents showed Blackrock ( BLK ) has sold over 2.6 million shares of the securities exchange company's stock, reducing its equity holding to around 24.3 million shares. The recent stock sales reduced Blackrock's overall stake in CME Group to 6.8% from 7.9% previously.
In other sector news:
(+) Regions Financial Corp ( RF ) was more than 1% higher after Keycorp lowered its investment rating for the bank holding company to neutral from outperform previously but kept its price target for the company's stock at $18 a share.
(+) KKR & Co ( KKR ) was narrowly higher in afternoon trade. The private-equity company reportedly is considering the "full or partial" sale of its Hitachi Kokusai chip equipment subsidiary and has received bids from two potential buyers in China, people familiar with the matter told Reuters.
(-) Aflac declined fractionally on Monday after RBC Capital raised its price target for the insurance company by $1 to $41 a share but also maintained its underperform stock rating.
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