On the heels of the US-based asset managers' second-quarter 2024 earnings, we have a better sense of how recent market activity has been affecting results. The rally in the US equity markets the past year has lifted most traditional and alternative-asset manager valuations close to our fair value estimates.
With 40% of its AUM invested in global/international funds, and 27% of its managed assets sourced from non-U.S. domiciled clients, we consider AB to be a more global asset manager than its U.S.-based peers.
Despite generating much of its fixed-income AUM growth from the Asia-Pacific region, flows for bond funds have been affected during periods of rising and falling U.S. interest rates.
|
Metric
|
AB
|
BEN
|
IVZ
|
|---|---|---|---|
Price/Earnings (Normalized) | 12.24 | 7.84 | 11.16 |
Price/Book Value | 1.92 | 0.84 | 0.75 |
Price/Sales | 10.95 | 1.27 | 1.38 |
Price/Cash Flow | 12.70 | 7.96 | 4.80 |
|
Metric
|
AB
|
BEN
|
IVZ
|
|---|---|---|---|
Quick Ratio | — | 3.48 | 1.88 |
Current Ratio | — | 3.48 | 1.88 |
Interest Coverage | — | 15.08 | −2.26 |
|
Metric
|
AB
|
BEN
|
IVZ
|
|---|---|---|---|
Return on Assets (Normalized) | 36.99% | 4.44% | 2.50% |
Return on Equity (Normalized) | 37.01% | 11.27% | 6.60% |
Return on Invested Capital (Normalized) | — | 4.98% | 2.96% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| BlackRock Inc
BLK
| Lvgxnkvtd | Ptvv | $140.0 Bil | |||
| Blackstone Inc
BX
| Qctcfvk | Yvhdgjk | $118.6 Bil | |||
| KKR & Co Inc Ordinary Shares
KKR
| Kbqymsht | Ksmbd | $117.3 Bil | |||
| Ameriprise Financial Inc
AMP
| Kdvnsymjf | Nsmrhhy | $46.0 Bil | |||
| State Street Corp
STT
| Tgykkcltc | Lzd | $26.3 Bil | |||
| Raymond James Financial Inc
RJF
| Svbwwjnb | Khlzt | $25.2 Bil | |||
| T. Rowe Price Group Inc
TROW
| Kplwnqrrx | Vwjnvmw | $24.4 Bil | |||
| Northern Trust Corp
NTRS
| Kdvpskjdv | Prjdg | $18.2 Bil | |||
| The Carlyle Group Inc
CG
| Jnnxmxms | Nhkbkv | $15.5 Bil | |||
| Franklin Resources Inc
BEN
| Hxfqythv | Cszk | $10.9 Bil |
United States