Zacks Investment Research upgraded shares of Janus Capital Group Inc. (NYSE:JNS) from a strong sell rating to a hold rating in a report published 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 analysts have also commented on JNS. Jefferies Group lowered 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, October 4th. Wells Fargo & Co. reissued a market perform rating on shares of Janus Capital Group in a research report on Wednesday, October 5th. Citigroup Inc. raised their price objective on Janus Capital Group from $15.00 to $16.00 and gave the company a neutral rating in a research report on Wednesday, October 5th. Morgan Stanley reissued a sell rating and set a $13.00 price objective on shares of Janus Capital Group in a research report on Thursday, July 28th. Finally, Keefe, Bruyette & Woods raised their price objective on Janus Capital Group from $15.00 to $15.50 and gave the company a market perform rating in a research report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Janus Capital Group presently has an average rating of Hold and an average target price of $14.93.
Janus Capital Group (NYSE:JNS) opened at 14.34 on Friday. Janus Capital Group has a 52-week low of $11.07 and a 52-week high of $16.62. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 19.70 and a beta of 1.57. The company’s 50-day moving average is $14.40 and its 200 day moving average is $14.57.
Janus Capital Group (NYSE:JNS) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by $0.01. The company earned $251.90 million during the quarter, compared to the consensus estimate of $258.50 million. Janus Capital Group had a net margin of 13.30% and a return on equity of 9.59%. The business’s revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. Equities analysts forecast that Janus Capital Group will post $0.87 earnings per share for the current fiscal year.
In other Janus Capital Group news, CFO Jennifer J. Mcpeek sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $14.05, for a total value of $70,250.00. Following the completion of the transaction, the chief financial officer now owns 128,710 shares of the company’s stock, valued at approximately $1,808,375.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ichi Life Insurance Co. L. Dai sold 406,659 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $14.50, for a total value of $5,896,555.50. The disclosure for this sale can be found here. 2.08% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. BlackRock Group LTD raised its position 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 during the period. Prudential Financial Inc. raised its position 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 during the period. BlackRock Institutional Trust Company N.A. raised its position 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 during the period. Smith Asset Management Group LP acquired a new position in shares of Janus Capital Group during the second quarter worth $2,117,000. Finally, BlackRock Inc. raised its position 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 during the period. 93.11% of the stock is owned by institutional investors and hedge funds.
About Janus Capital Group
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.