Janus Capital Reaches 52-Week High - Analyst Blog

Shares of Janus Capital Group, Inc. ( JNS ) 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.

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.

Growth Drivers

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 year increase.

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. ( APAM ), GAMCO Investors, Inc. ( GBL ) and Kohlberg Kravis Roberts & Co. L.P. ( KKR ). All these stocks carry a Zacks Rank #1 (Strong Buy).

ARTISAN PTNR AM (APAM): Free Stock Analysis Report

GAMCO INVESTORS (GBL): Free Stock Analysis Report

JANUS CAP GRP (JNS): Free Stock Analysis Report

KKR & CO LP (KKR): Free Stock Analysis Report

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

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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