Core Insights - Lazard, Inc. reported preliminary assets under management (AUM) of approximately $267.0 billion as of January 31, 2026, reflecting a market appreciation of $7.6 billion, net inflows of $2.9 billion, and foreign exchange (FX) appreciation of $2.1 billion [1] Group 1: Assets Under Management - The AUM as of January 31, 2026, includes $195.775 billion in equity, $35.758 billion in fixed income, $25.267 billion in multi-asset, and $10.153 billion in alternatives [1] - The total AUM increased from $254.300 billion as of December 31, 2025, indicating a growth of approximately 5.5% month-over-month [1] Group 2: Company Overview - Lazard is a leading financial advisory and asset management firm, established in 1848, with a global presence across North and South America, Europe, the Middle East, Asia, and Australia [1] - The firm provides a range of services including advice on mergers and acquisitions, capital markets, restructuring, and asset management for various clients including institutions, corporations, and high net worth individuals [1]

Core Insights - Prudential Financial, Inc. (PRU) reported fourth-quarter 2025 adjusted operating income of $3.30 per share, missing the Zacks Consensus Estimate by 2%, but reflecting an 11.5% year-over-year increase [1][10] - Total revenues reached $14.52 billion, marking an 11.6% year-over-year increase, driven by higher premiums, net investment income, and asset management fees, surpassing the Zacks Consensus Estimate by 6% [2][10] - Total benefits and expenses amounted to $13 billion, up 11.8% year over year, primarily due to increased insurance and annuity benefits and interest credited to policyholders [3] Operational Update - Prudential Global Investment Management (PGIM) reported adjusted operating income of $249 million, a decrease of 3.8% year over year, attributed to higher expenses and lower revenues from seed and co-investment income, partially offset by increased asset management fees [4] - PGIM's assets under management increased by 7% year over year to $1.466 trillion, driven by equity market and fixed income appreciation [5] - The U.S. Businesses segment delivered an adjusted operating income of $1 billion, up 22% year over year, due to favorable underwriting results and lower expenses, despite a decline in net fee income [5] - International Businesses reported adjusted operating income of $757 million, a 2% year-over-year increase, supported by improved net investment spread results [6] - Corporate and Other segment incurred an adjusted operating loss of $552 million, wider than the previous year's loss, primarily due to increased expenses [7] Capital Deployment - Prudential Financial returned $730 million to shareholders through share repurchases of $250 million and dividends of $480 million in the fourth quarter [8] - The board authorized a 4% increase in the quarterly cash dividend to $1.40 per share, marking the 18th consecutive year of dividend increases [9] Financial Update - As of December 31, 2025, cash and cash equivalents stood at $19.7 billion, a 6.5% increase from the end of 2024, while total debt increased by 0.7% to $20.3 billion [11] - Assets under management and administration rose by 7% year over year to $1.8 trillion, with adjusted book value per common share increasing by 4.5% to $100.17 [11] - Operating return on average equity improved by 110 basis points year over year to 13.3% [12] Full-Year Update - For the full year 2025, adjusted operating income was $14.43 per share, a 14.3% increase from 2023, although it missed the Zacks Consensus Estimate by 0.4% [13] - Total revenues for the year were $57.6 billion, a 15% decrease from 2024, but still beating the Zacks Consensus Estimate by 0.9% [13]

Core Insights - Janus Henderson Group plc (JHG) reported a revenue of $1.14 billion for the quarter ended December 2025, marking a significant increase of 61.3% year-over-year [1] - The earnings per share (EPS) for the quarter was $2.01, up from $1.07 in the same quarter last year, indicating a strong performance [1] - The reported revenue exceeded the Zacks Consensus Estimate of $779.26 million by 46.59%, and the EPS also surpassed the consensus estimate of $1.19 by 68.91% [1] Financial Performance - The average assets under management (AUM) for equities were reported at $255.10 billion, slightly below the estimated $255.99 billion [4] - Multi-asset AUM was $58.50 billion, which was in line with the average estimate of $58.39 billion [4] - Total AUM reached $493.20 billion, surpassing the average estimate of $488.13 billion [4] - Fixed income AUM was reported at $154.40 billion, slightly below the estimated $154.82 billion [4] - Management fees revenue was $585.2 million, reflecting a year-over-year increase of 12%, but slightly below the average estimate of $585.81 million [4] Market Performance - Over the past month, shares of Janus Henderson Group have returned +0.8%, compared to a +0.9% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Core Insights - Ameriprise Financial reported a record fourth quarter and full year for 2025, achieving significant growth in earnings and assets under management [1][2] - The company was recognized as one of TIME's Most Iconic Companies for 2026 and ranked among the Best-Managed Companies by the Wall Street Journal [1][4] - Ameriprise's return on equity reached 53.2%, reflecting strong capital management and shareholder returns [1][2] Financial Performance - Fourth quarter GAAP net income per diluted share was $10.47, a slight decrease from $10.58 in the previous year, while full year GAAP net income per diluted share increased to $36.28 from $33.05 [1][2] - Adjusted operating earnings per diluted share for the fourth quarter rose 16% to $10.83, and for the full year, it increased 14% to $39.29 [1][2] - Total adjusted operating net revenues for the fourth quarter increased by 10% to $4.9 billion, driven by asset growth and client engagement [1][2] Asset Management - Assets under management, administration, and advisement reached a record high of $1.7 trillion, up 11% year-over-year [1][2] - The Advice & Wealth Management segment generated adjusted operating net revenues of $3.2 billion, a 12% increase, with a pretax adjusted operating margin of 29.3% [1][2] - Wrap assets increased 17% to a record high of $670 billion, with net inflows of $12.1 billion in the quarter [2][5] Client Engagement and Advisor Productivity - Total client assets grew 13% to $1.2 trillion, with strong client flows of $13.3 billion [2][5] - The company experienced strong advisor recruitment, with 91 experienced advisors joining in the quarter [2][5] - Adjusted operating net revenue per advisor reached a new high of $1.1 million, an 8% increase from the previous year [2][5] Retirement & Protection Solutions - The Retirement & Protection Solutions segment reported adjusted operating net revenues of $991 million, a 3% increase, with sales rising 6% to $1.5 billion [2][5] - The segment's pretax adjusted operating earnings were $200 million, impacted by higher life claim expenses compared to the prior year [2][5] Corporate Recognition - Ameriprise was ranked 48 on TIME's list of America's Most Iconic Companies, highlighting its cultural significance and impact [4] - The company was also recognized as a Top 250 firm on the Wall Street Journal's Best-Managed Companies list, evaluated on various performance indicators [4]

Financial Performance - State Street reported a net income of $747 million for Q4 2025, a 5% decrease from $783 million in the same period last year [1] - Total revenue for the quarter increased by 7.5% to $3.67 billion, driven by improvements in fee-based revenue, net interest income, and currency translation effects [1] - Net interest income rose by 7% year-on-year, reaching $802 million [1] Assets and Custody - Assets under management (AUM) at the end of the quarter stood at $5.7 trillion, a 20% increase from the prior year [1] - Investment servicing assets under custody and/or administration (AUC/A) reached $53.8 trillion, representing a 16% increase from the previous year [2] - The growth in AUC/A was attributed to higher market valuations and net inflows [2] Revenue and Fees - Fee revenue increased by 8% year-on-year, driven by higher servicing and management fees, as well as increased revenues from foreign exchange trading and securities finance activities [2] - New servicing fee revenue commitments amounted to $87 million, primarily linked to back-office services and private markets [3] - At the end of the quarter, State Street reported $320 million in servicing fee revenue yet to be recognized in future periods [3] Strategic Initiatives - State Street introduced 37 new products in Q4 and launched a total of 134 new offerings throughout 2025 [3] - CEO Ron O'Hanley highlighted the company's strong performance and strategic progress, focusing on growth through innovative products and partnerships, including a 23% stake in India's Groww AMC [4]

Core Insights - The Bank of New York Mellon Corporation (BK) reported fourth-quarter 2025 adjusted earnings of $2.08 per share, exceeding the Zacks Consensus Estimate of $1.97, reflecting a 20.9% increase from the prior-year quarter [1][9] Financial Performance - The increase in earnings was primarily driven by a rise in fee revenues and net interest income (NII), which was $1.35 billion, up 12.7% year over year [2][5] - Total quarterly revenues rose 6.8% year over year to $5.18 billion, surpassing the Zacks Consensus Estimate of $5.12 billion [4] - For the full year 2025, total revenues reached $20.08 billion, a 7.8% increase year over year, also exceeding the Zacks Consensus Estimate of $20 billion [4] Asset Management - As of December 31, 2025, assets under management (AUM) were $2.2 trillion, up 7% year over year, while assets under custody and/or administration (AUC/A) increased to $59.3 trillion, a 13.8% rise year over year [7][9] Credit Quality - The allowance for loan losses as a percentage of total loans decreased to 0.30%, down 11 basis points from the prior-year quarter, with non-performing assets at $143 million, down 20.1% year over year [8] Capital Position - The common equity Tier 1 ratio improved to 11.9% as of December 31, 2025, up from 11.2% a year earlier, and the Tier 1 leverage ratio increased to 6% from 5.7% [11] Share Repurchase - In the reported quarter, the company repurchased shares worth $1 billion [12] Strategic Outlook - The company's global expansion efforts and strong balance sheet are expected to support continued top-line growth, although there are concerns regarding concentration risk due to reliance on fee-based revenues and rising expenses [13]

US money-market funds now have more than $8 trillion in assets under management, a milestone for an industry that’s skyrocketed in popularity among investors thanks to its lofty and dependable yields, even in the face of the Fed’s interest-rate cuts. https://t.co/aFSNpCbc4K ...

Core Insights - The iShares Core S&P 500 ETF (IVV) and SPDR Portfolio S&P 500 ETF (SPLG) both aim to track the S&P 500 Index, providing diversified access to large-cap U.S. equities [1][7] Cost & Size Comparison - SPLG has a lower expense ratio of 0.02% compared to IVV's 0.03% [2][8] - Both funds have a 1-year return of 18.3% as of October 28, 2025, and a dividend yield of 1.16% [2] - SPLG's assets under management (AUM) stand at $86.83 billion, while IVV has a significantly larger AUM of $701.37 billion [2][3] Performance & Risk Metrics - The maximum drawdown over five years for SPLG is 24.49%, while IVV's is slightly higher at 24.52% [4] - An investment of $1,000 would grow to $2,092 in SPLG and $2,091 in IVV over five years [4] Portfolio Composition - IVV holds 503 securities with a sector exposure of 36% in technology, 13% in financial services, and 10% in consumer discretionary [5] - Top holdings in IVV include Nvidia, Apple, and Microsoft, each representing less than 10% of the portfolio [5] - SPLG mirrors IVV's sector weights and portfolio makeup, despite being from a different issuer [6]

Core Insights - Prudential Financial, Inc. (PRU) reported third-quarter 2025 adjusted operating income of $4.26 per share, exceeding the Zacks Consensus Estimate by 16.3% and reflecting a 28% year-over-year increase [1][10] - Total revenues for the quarter were $16.2 billion, surpassing estimates by 16%, although this represented a 16.6% decline year over year due to lower premiums [2][10] - The company achieved total benefits and expenses of $14.3 billion, down 20.3% year over year, attributed to lower insurance and annuity benefits and operating expenses [2] Operational Update - Prudential Global Investment Management (PGIM) reported adjusted operating income of $244 million, a 1.2% increase year over year, driven by higher asset management fees and related revenues [3] - PGIM's assets under management reached $1.470 trillion, marking a 5% year-over-year increase due to equity market and fixed income appreciation along with net inflows [4] - The U.S. Businesses segment delivered adjusted operating income of $1.149 billion, up 10.4% year over year, supported by higher net investment spread results and favorable underwriting outcomes [5] - International Businesses saw adjusted operating income rise 15% year over year to $881 million, primarily due to improved net investment spread results [6] - Corporate and Other segment incurred an adjusted operating loss of $327 million, an improvement from a loss of $487 million a year ago, due to lower expenses and favorable foreign exchange impacts [7] Capital Deployment - Prudential Financial returned capital to shareholders through share repurchases totaling $250 million and dividends amounting to $481 million in the third quarter [8] Financial Position - As of September 30, 2025, Prudential Financial had cash and cash equivalents of $17.5 billion, a decrease of 5.5% from the end of 2024, and total debt of $20.2 billion, which increased by 0.2% [11] - The company's assets under management and administration increased 3.3% year over year to $1.81 trillion, with adjusted book value per common share rising 0.5% to $99.25 [11] - Operating return on average equity was reported at 17.5%, expanding 390 basis points year over year [12]

Core Insights - The TCW Group announced that the TCW Flexible Income ETF (FLXR) has surpassed $2 billion in assets under management (AUM) [1] - FLXR has nearly quadrupled in size in 2025, adding $1.48 billion year to date, driven by investor demand for income-generating products amid economic uncertainty [1] - FLXR is recognized as the fastest-growing fund in its peer group in 2025, according to Bloomberg data [1] Company Performance - The TCW Flexible Income ETF (FLXR) achieved a significant milestone by exceeding $2 billion in AUM [1] - The fund's growth in 2025 is marked by an increase of $1.48 billion year to date, indicating strong investor interest [1] - FLXR's active management strategy contributes to its appeal in a challenging economic environment [1]