Core Viewpoint - Analysts expect Victory Capital Holdings (VCTR) to report quarterly earnings of $1.38 per share, reflecting a year-over-year increase of 10.4%, with revenues projected at $226.09 million, up 4.7% from the previous year [1]. Earnings Projections - Over the last 30 days, there has been a downward revision of 1.3% in the consensus EPS estimate for the quarter, indicating a collective reconsideration by analysts of their initial forecasts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue and Key Metrics - Analysts forecast 'Revenue- Fund administration and distribution fees' at $48.19 million, a year-over-year increase of 4.6% [5]. - The average prediction for 'Revenue- Investment management fees' is $178.26 million, indicating a 5% increase from the prior-year quarter [5]. - 'Ending Assets Under Management' is expected to reach $197.22 billion, up from $170.34 billion in the same quarter last year [5]. Specific Asset Management Estimates - 'Ending assets under management - Global/Non-U.S. Equity' is projected at $18.33 billion, slightly up from $18.20 billion a year ago [6]. - 'Ending assets under management - Solutions' is expected to be $63.38 billion, compared to $57.83 billion last year [6]. - 'Ending assets under management - U.S. Large Cap Equity' is estimated at $13.10 billion, down from $13.90 billion a year ago [7]. - 'Ending assets under management - U.S. Mid Cap Equity' is projected at $28.96 billion, down from $32.92 billion last year [7]. - 'Ending assets under management - U.S. Small Cap Equity' is expected to be $13.18 billion, down from $16.30 billion [8]. - 'Ending assets under management - Alternative Investments' is projected at $2.95 billion, down from $3.47 billion [8]. - 'Ending assets under management - Money Market/Short-term' is estimated at $3.40 billion, up from $3.25 billion last year [9]. - 'Ending assets under management - Fixed Income' is expected to be $24.16 billion, slightly down from $24.48 billion a year ago [9]. Stock Performance - Shares of Victory Capital have returned +13.5% over the past month, outperforming the Zacks S&P 500 composite's +10.6% change [9].

Core Insights - AGF Management Limited reported total assets under management (AUM) and fee-earning assets of $51.3 billion as of April 30, 2025 [1][6]. AUM Summary - Total AUM decreased by 1.6% from $50.0 billion in March 2025 to $49.2 billion in April 2025, but increased by 7.7% compared to $45.7 billion in April 2024 [2]. - Total fee-earning assets remained stable at $2.1 billion, resulting in total AUM and fee-earning assets of $51.3 billion, down 1.5% from $52.1 billion in March 2025 and up 7.3% from $47.8 billion in April 2024 [2]. Mutual Fund AUM by Category - Domestic Equity Funds AUM was $4.3 billion in April 2025, slightly down from $4.4 billion in March 2025 and up from $4.1 billion in April 2024 [3]. - U.S. and International Equity Funds AUM was $18.0 billion, down from $18.1 billion in March 2025 and up from $15.4 billion in April 2024 [3]. - Domestic Fixed Income Funds AUM remained stable at $2.0 billion, up from $1.6 billion in April 2024 [3]. Company Overview - AGF Management Limited, founded in 1957, is an independent and globally diverse asset management firm with operations in North America and Europe [4][6]. - The firm focuses on responsible and sustainable corporate practices, serving a wide range of clients including financial advisors, high-net-worth individuals, and institutional investors [5][6].

Ares Management Corporation Reports First Quarter 2025 Results NEW YORK--Ares Management Corporation (NYSE:ARES) today reported its financial results for its first quarter ended March 31, 2025. GAAP net income attributable to Ares Management Corporation was $47.2 million for the quarter ended March 31, 2025. On a basic and diluted basis, net income attributable to Ares Management Corporation per share of Class A and non-voting common stock was $0.00 for the quarter ended March 31, 2025. After-tax realized i ...

Core Insights - T. Rowe Price reported revenue of $1.76 billion for the quarter ended March 2025, reflecting a year-over-year increase of 0.8% but a slight miss against the Zacks Consensus Estimate of $1.77 billion, resulting in a revenue surprise of -0.39% [1] - The company's EPS for the quarter was $2.23, down from $2.38 in the same quarter last year, but it exceeded the consensus EPS estimate of $2.09, leading to an EPS surprise of +6.70% [1] Financial Performance Metrics - Assets Under Management (EOP) for Equity stood at $773.4 billion, below the average estimate of $806.24 billion [4] - Multi-asset Assets Under Management (EOP) were reported at $544.4 billion, compared to the average estimate of $553.12 billion [4] - Total Assets Under Management reached $1,566.3 billion, missing the average estimate of $1,607.56 billion [4] - Total net cash inflows were negative at $-8.6 billion, contrasting with the average estimate of $9.37 billion [4] - Net revenues from capital allocation-based income were reported at -$1.20 million, significantly lower than the estimated $6.07 million, marking a year-over-year decline of -102.6% [4] - Administrative, distribution, and servicing fees generated net revenues of $156.30 million, exceeding the average estimate of $142.50 million, representing a year-over-year increase of +4.8% [4] - Investment advisory fees totaled $1.60 billion, slightly below the estimated $1.61 billion, but reflecting a year-over-year increase of +2.9% [4] - Investment Advisory Fees from Alternatives were reported at $80.90 million, surpassing the estimated $72.05 million, with a year-over-year increase of +9.2% [4] - Multi-asset Investment Advisory Fees generated $454.70 million, slightly below the average estimate of $459.77 million, with a year-over-year increase of +5.8% [4] - Fixed income Investment Advisory Fees, including money market, were reported at $103.60 million, below the average estimate of $108.38 million, with a year-over-year increase of +3% [4] - Performance-based advisory fees were reported at $10.40 million, exceeding the estimated $10.09 million [4] - Equity Investment Advisory Fees totaled $959.20 million, slightly above the average estimate of $959.01 million, with a year-over-year increase of +1% [4] Stock Performance - T. Rowe Price shares returned +2.2% over the past month, outperforming the Zacks S&P 500 composite, which declined by -0.5% [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Financial Data and Key Metrics Changes - Fundraising in Q1 2025 reached a record $3.2 billion, contributing to a target of $6 billion for the year [6][24] - Fee-related earnings (FRE) were $42.6 million or $0.27 per share, reflecting a 2116% year-over-year growth [6][8] - Assets under management (AUM) grew to $46 billion, a 43% increase year-over-year and over 9% sequentially [10][26] - Distributable earnings were $37 million or $0.23 per share, up 12% year-over-year [8][32] Business Line Data and Key Metrics Changes - Fee-earning AUM increased to $35 billion, a 46% year-over-year growth and 6% sequentially [10][28] - Organic net inflows into fee-earning AUM were over $700 million, representing an annualized organic growth rate of over 8.6% [7][26] - Management fee revenue for Q1 was $77.3 million, up 28% year-over-year, but down 17% sequentially due to seasonal factors [28][29] Market Data and Key Metrics Changes - Approximately 20% of fee-earning AUM were in permanent capital vehicles, which is a key long-term objective [13][22] - Strong demand from Asian sovereign wealth fund investors led to $1 billion in commitments during the quarter [14][15] - Local investors accounted for approximately 17% of fundraising in Q1 2025, indicating a growing interest in alternative investments [22] Company Strategy and Development Direction - The company aims to diversify its investment strategies and product offerings, enhancing resilience against global uncertainties [23][24] - The focus is on organic growth through customized investment accounts and special managed accounts, moving away from a product-centric model [6][12] - The company is positioned to benefit from geopolitical shifts, with a low exposure to U.S. tariffs and a focus on local consumption markets in Latin America [17][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the $6 billion fundraising target despite global uncertainties [24][31] - The company believes Latin America is becoming a more attractive destination for capital, benefiting from low geopolitical risks and strong local consumption [18][39] - Management anticipates that the ongoing trade conflicts may lead to increased foreign direct investment (FDI) in the region [42] Other Important Information - The company has a net debt of approximately $143 million, with a net debt to FRE ratio well below one time [32] - The effective tax rate for the quarter was 9.2%, with expectations to trend towards 10% by 2027 [32] - A quarterly dividend of $0.15 per share was approved for 2025, with intentions to repurchase shares throughout the year [33] Q&A Session Summary Question: How are portfolios positioned regarding higher tariffs in the U.S.? - Management indicated that most investments are Latin America-oriented, with minimal exposure to Mexico, and sectors are resilient and locally driven [37][39] Question: Could Chinese institutions divert allocations from U.S. to LatAm? - Management confirmed that there is increased interest from Asian investors, with significant commitments already made [43][45] Question: Is there potential upside to the $6 billion fundraising target? - Management maintained the $6 billion target but acknowledged the strong start with $3.2 billion raised in Q1 [52][54] Question: Update on integration of M&A completed last year? - Management reported that 2025 is focused on integration, with no major issues encountered and synergies expected to improve margins [70][74] Question: Overview of the $3.5 billion pending fee AUM? - Management stated that most pending AUM will be allocated to infrastructure and GPMS verticals, with an average management fee of 96 basis points expected [78][80]

Business Overview - Artisan Partners' business model is talent-driven and designed for investment talent to thrive [2] - The firm focuses on active strategies and autonomous franchises managed by business professionals [2] - Artisan Partners had 27 investment strategies as of March 31, 2025 [11] Investment Performance - Artisan Partners strategies with greater than 10-year track records show strong average annual returns since inception, net of fees [3, 4] - The Developing World strategy has an inception-to-date average annual net return of 1033% [9] - The Global Unconstrained strategy has an inception-to-date average annual net return of 987% [9] - The Emerging Markets Debt Opportunities strategy has an inception-to-date average annual net return of 1179% [9] - The Emerging Markets Local Opportunities strategy has an inception-to-date average annual net return of 895% [9] Financial Highlights - The company's run-rate revenue is $1124 million as of March 31, 2025 [11] - Assets Under Management (AUM) reached $1624 billion as of 1Q25, a 1% increase from 1Q24 [15, 20] - Net client cash flows were -$28 billion in 1Q25 [17, 20] - The weighted average management fee was 068% as of March 31, 2025 [20] - Adjusted net income per adjusted share was $083 in 1Q25 [26]

Core Viewpoint - Lazard Inc. reported first-quarter 2025 adjusted earnings per share of 56 cents, exceeding the Zacks Consensus Estimate of 27 cents, but down from 66 cents per share in the same quarter last year [1][2] Financial Performance - Net income (GAAP) for Lazard was $60.4 million, a significant increase of 68.9% from the prior-year quarter [2] - Quarterly operating revenues were $643.2 million, reflecting a decline of 13.8% year over year, yet surpassing the Zacks Consensus Estimate of $616 million [3] - Operating expenses decreased to $593.4 million, down 16.4% year over year [4] Segment Performance - Financial Advisory segment adjusted operating revenues were $369.5 million, down 17.3% from the previous year [5] - Asset Management segment adjusted operating revenues decreased to $264.5 million, a decline of 4.1% year over year [5] - Corporate segment adjusted operating revenues were $9.1 million, down 61.9% from the year-ago quarter [5] Assets Under Management (AUM) - As of March 31, 2025, total AUM was $227.4 billion, a decrease of 9.2% from the prior-year quarter [6] - The average AUM in the reported quarter was $230.8 billion, down 6.5% year over year [6] Balance Sheet Position - Cash and cash equivalents totaled $908.6 million, down 30.5% from the prior quarter [7] - Stockholders' equity was $648.6 million, a decrease of 5.3% sequentially [7] Share Repurchase Activity - In the reported quarter, Lazard repurchased 0.8 million shares at an average price of $46.73 per share, with approximately $164 million remaining for future repurchases [9] Strategic Outlook - Increased dependence on advisory revenues and continued net outflows are expected to impact top-line growth [10] - Innovative investment strategies and cost mitigation initiatives are anticipated to support profitability [10]

Core Viewpoint - Analysts forecast that Blackstone Inc. (BX) will report quarterly earnings of $1.11 per share, reflecting a year-over-year increase of 13.3%, with anticipated revenues of $2.81 billion, showing a 10.1% increase compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised 6.1% lower over the last 30 days, indicating a reevaluation of initial estimates by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3]. Revenue Projections - Analysts estimate 'Segment Revenues- Base Management Fees' to be $1.80 billion, a 9.4% increase from the prior year [5]. - 'Segment Revenues- Total Management and Advisory Fees, Net' is expected to reach $1.89 billion, reflecting a 10.5% year-over-year increase [5]. - 'Segment Revenues- Fee Related Performance Revenues' is projected at $283.39 million, indicating a decline of 4.1% year-over-year [6]. - 'Segment Revenues- Realized Performance Revenues' is estimated to be $628.05 million, showing a 17.1% increase from the previous year [6]. Assets Under Management - The consensus estimate for 'Fee-Earning Assets Under Management Rollforward - Private Equity' is $217.64 billion, up from $170.6 billion in the same quarter last year [7]. - 'Fee-Earning Assets Under Management Rollforward - Real Estate' is projected at $281.95 billion, down from $301.58 billion year-over-year [7]. - 'Fee-Earning Assets Under Management Rollforward - Hedge Fund Solutions' is expected to reach $76.20 billion, compared to $73.38 billion last year [8]. - 'Fee-Earning Assets Under Management Rollforward - Credit & Insurance' is estimated at $281.73 billion, up from $235.83 billion year-over-year [8]. - The average prediction for 'Fee-Earning Assets Under Management' is $857.53 billion, compared to $781.4 billion last year [9]. - 'Total Assets Under Management - Hedge Fund Solutions' is expected to be $85.46 billion, up from $82.29 billion year-over-year [9]. - 'Total Assets Under Management - Credit & Insurance' is projected at $388.49 billion, compared to $329.64 billion last year [9]. - 'Total Assets Under Management - Real Estate' is estimated to be $320.58 billion, down from $339.33 billion year-over-year [10]. Stock Performance - Shares of Blackstone Inc. have decreased by 9.7% in the past month, contrasting with a 3.6% decline in the Zacks S&P 500 composite [11].

NASHVILLE, Tenn., April 9, 2025 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management decreased to $784 billion during March 2025 from $805 billion at the end of February. Net inflows across all three channels (Institutional, Retail and Private Wealth) were offset by market depreciation during March, resulting in a 2.6% decline in month-end AUM. For the quarter-ended March 2025, preliminary firmwide ...

TORONTO, April 03, 2025 (GLOBE NEWSWIRE) -- AGF Management Limited reported total assets under management (AUM) and fee-earning assets1 of $52.1 billion as at March 31, 2025. AUM ($ billions)March 31, 2025 February 28, 2025 % Change Month-Over-Month<td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; text-align: right ; vertical-align: middle; vert ...