Key Takeaways from Asset Manager Earnings

Nothing in this quarter's results compels us to revise our long-term views, but we did change some fair value estimates.

Greggory Warren, CFA

Feb 7, 2020

Mentioned: AGF Management Ltd (AGF.B) , AGF Management Ltd (AGFMF) , Julius Baer Gruppe AG (BAER) , Janus Henderson Group PLC (JHG) , Northern Trust Corp (NTRS) , T. Rowe Price Group Inc (TROW) , BlackRock Inc (BLK) , Waddell & Reed Financial Inc (WDR) , Legg Mason Inc (LM) , Bank of New York Mellon Corp (BK)

There was little to alter our long-term view of the asset managers under our coverage, although we raised our fair value estimates on four of our names: Cohen & Steers (CNS); SEI Investments (SEIC); State Street Corporation (STT), and T. Rowe Price (TROW).

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Greggory Warren does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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