Financial Sector Update for 04/20/2015: NSAM,MTG,NBG
Top Financial Stocks
Financial stocks were mostly higher today with the NYSE Financial Sector Index advancing 0.5% and the S&P Financial 100 Index also climbing 0.5%.
In company news, NorthStar Asset Management Group ( NSAM ) was higher in late trade and the asset manager today announcing plans to buy back up to $400 million of its stock.
The share repurchase program is slated to expire in 12 months, unless extended or terminated by the NSAM board.
NSAM shares were up more than 2% at $20.66 apiece, slipping from an earlier daily high of $21.00 per share. The stock has traded within a 52-week range of $16.01 to $24.91 a share, climbing about 7.5% over the past 12 months
In other sector news,
(+) MTG, Raised to Neutral from Underperform at Credit Suisse. No price target information was available.
(-) NBG, IMF managing director Christine Lagarde says she told Greek finance minister his government needs to accelerate promised reforms and avoid default, warning patience by its creditors toward Athens was running low.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.