Janus Capital Group Inc. (JNS) Raised to “Hold” at Zacks Investment Research
Janus Capital Group Inc. (NYSE:JNS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Janus Capital’s estimates have been stable lately ahead of the company’s third-quarter 2016 earnings release. Recently, the company signed an ‘all-stock merger of equals’ with Henderson Group. Management expects the merger to be accretive to the earnings of both the companies in the first 12 months, excluding one-time cost of $165–185 million. Further, the increased economies of scale are likely to result in improved profitability and greater efficiency. Also, the company remains well positioned for competitive leverage growth, given its best-in-class investment boutique with potential for assets under management (AUM) improvement. However, the company’s profitability remains challenged by weak flows and negative performance fees. Moreover, the company’s equity-heavy portfolio makes it vulnerable to the equity market volatilities”
Several other equities research analysts have also recently commented on JNS. Keefe, Bruyette & Woods upped their price target on Janus Capital Group from $15.00 to $15.50 and gave the stock a “market perform” rating in a research note on Wednesday, July 27th. Morgan Stanley reiterated a “sell” rating and issued a $13.00 price objective on shares of Janus Capital Group in a research report on Thursday, July 28th. Wells Fargo & Co. reiterated a “market perform” rating on shares of Janus Capital Group in a research report on Wednesday. Jefferies Group cut Janus Capital Group from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research report on Tuesday. Finally, Citigroup Inc. increased their price objective on Janus Capital Group from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Janus Capital Group currently has a consensus rating of “Hold” and a consensus price target of $14.94.
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Shares of Janus Capital Group (NYSE:JNS) traded down 1.899% during midday trading on Friday, reaching $14.205. 1,308,650 shares of the company’s stock traded hands. The stock’s 50 day moving average is $14.41 and its 200-day moving average is $14.56. The company has a market capitalization of $2.52 billion, a PE ratio of 19.512 and a beta of 1.57. Janus Capital Group has a 52 week low of $11.07 and a 52 week high of $16.62.
Janus Capital Group (NYSE:JNS) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Janus Capital Group had a return on equity of 9.59% and a net margin of 13.30%. The company had revenue of $251.90 million for the quarter, compared to analysts’ expectations of $258.50 million. During the same quarter last year, the company earned $0.24 EPS. Janus Capital Group’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, analysts forecast that Janus Capital Group will post $0.87 earnings per share for the current fiscal year.
In other Janus Capital Group news, major shareholder Ichi Life Insurance Co. L. Dai sold 406,659 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $14.50, for a total transaction of $5,896,555.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jennifer J. Mcpeek sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $14.60, for a total transaction of $73,000.00. Following the sale, the chief financial officer now directly owns 133,710 shares of the company’s stock, valued at $1,952,166. The disclosure for this sale can be found here. Company insiders own 2.08% of the company’s stock.
A number of hedge funds have recently made changes to their positions in JNS. BlackRock Group LTD boosted its stake in shares of Janus Capital Group by 16.1% in the first quarter. BlackRock Group LTD now owns 138,727 shares of the company’s stock worth $2,030,000 after buying an additional 19,188 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Janus Capital Group by 30.8% in the first quarter. Prudential Financial Inc. now owns 126,209 shares of the company’s stock worth $1,847,000 after buying an additional 29,747 shares in the last quarter. Smith Asset Management Group LP acquired a new stake in shares of Janus Capital Group during the second quarter worth approximately $2,117,000. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Janus Capital Group by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,300,505 shares of the company’s stock worth $62,916,000 after buying an additional 30,249 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Janus Capital Group by 10.4% in the first quarter. BlackRock Inc. now owns 58,925 shares of the company’s stock worth $862,000 after buying an additional 5,532 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.
Janus Capital Group Company Profile
Janus Capital Group Inc provides investment management, administration, distribution and related services to financial advisors, individuals and institutional clients through mutual funds, separate accounts, other pooled investment vehicles and subadvised relationships (collectively referred to as investment products) in both domestic and international markets.
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