Japan’s biggest brokerage Nomura announced plans to buy back shares even after profit fell in the third quarter, as it remained on course for record annual earnings https://t.co/6aX8Gkphj3 ...

Core Viewpoint - Sampo plc has been actively engaging in a share buyback program, acquiring a total of 210,803 A shares on 29 January 2026, as part of a broader initiative announced in November 2025 to repurchase shares worth up to EUR 150 million [1][2]. Group 1: Share Buyback Details - On 29 January 2026, Sampo plc acquired 210,803 A shares at an average price of EUR 9.44 per share across various markets [1]. - The buyback volume included 8,333 shares on AQEU, 79,549 shares on CEUX, 31,275 shares on TQEX, and 91,646 shares on XHEL [1]. - The share buyback program commenced on 6 November 2025, following authorization from Sampo's Annual General Meeting on 23 April 2025 [1]. Group 2: Ownership and Market Impact - Following the recent transactions, Sampo plc now holds a total of 14,867,915 A shares, which represents 0.56% of the total shares outstanding [2]. - The buyback program is conducted in compliance with the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 [1].

Ahead of SoFi Technologies Inc.’s (NASDAQ:SOFI) fourth-quarter results, analyst Parkev Tatevosian, CFA, is urging caution regarding the stock, especially at its current levels.SoFi Is ‘Slightly Overvalued’Tatevosian, who said he had been “bullish on SoFi stock for a long time,” now views the company as “slightly overvalued” and not an attractive buy ahead of earnings, citing elevated volatility and limited upside relative to risk.According to his proprietary models, “SoFi stock is worth about $20 a share, $ ...

Key Takeaways from the Economic Survey F2025-26 Industry Overview - **Country**: India - **Focus**: Economic growth, fiscal policy, inflation, external stability, and sectoral performance Core Insights 1. **Growth Expectations**: - Real GDP growth is projected at **7.4% YoY for F2026** and between **6.8% and 7.2% YoY for F2027**. Domestic demand is expected to support this growth despite global uncertainties [9][10] - The cumulative impact of recent policy reforms has lifted the economy's medium-term growth potential closer to **7%** [11] 2. **Inflation Management**: - Headline CPI has softened due to a downturn in food prices, with core inflation hovering around **4%**. The survey anticipates inflation to remain anchored within manageable ranges, supported by strong agricultural output and stable global commodity prices [9][18] 3. **External Stability**: - India maintains robust external macro stability, with strong services exports and remittances supporting the current account. The capital account has attracted substantial gross FDI, indicating resilience amid global volatility [19][20][22] 4. **Fiscal Policy**: - The fiscal deficit is expected to be **4.2% of GDP** for F2027, with a commitment to a transparent medium-term debt glide path of **50% of GDP ±1ppt by F2031**. The government emphasizes a calibrated fiscal strategy that combines consolidation with sustained public investment [2][23] Sectoral Insights 1. **Agriculture**: - Growth in agriculture is critical for food security and livelihoods. Allied activities like horticulture and dairy are key contributors. Policy measures to improve infrastructure and productivity are essential [11] 2. **Industry**: - Transition to higher-value manufacturing is gaining traction, supported by ongoing capital expenditure and reforms like the PLI scheme. However, challenges such as high logistical costs and regulatory complexity persist [12][13] 3. **Infrastructure**: - Significant investments in infrastructure are crucial for growth and productivity. Initiatives like PM GatiShakti and the National Logistics Policy aim to enhance logistical coordination and reduce transaction costs [14] 4. **Services**: - The services sector is a major driver of economic growth and employment, with a focus on high-value, technology-driven segments. Tailored reforms are necessary to maintain competitiveness [15] Additional Considerations - **Medium-term Growth Path**: - Achieving inclusive growth is linked to augmenting productive capacity and institutional transformation, aligning with the long-term vision of "Viksit Bharat" by 2047 [27][28] - **State Finances**: - State governments are encouraged to improve revenue mobilization and spending composition, with a focus on conditional cash transfers linked to verifiable actions to avoid widening deficits [24][25][26] This summary encapsulates the key points from the Economic Survey F2025-26, highlighting India's growth trajectory, fiscal strategies, and sectoral developments while addressing potential risks and challenges.

Core Viewpoint - Ameriprise Financial has shown strong financial performance, leading to an upgrade in its stock rating by Piper Sandler from Underweight to Neutral, with the stock priced at $521.36 at the time of the upgrade [1][6]. Financial Performance - In the fourth quarter, Ameriprise reported adjusted earnings per share (EPS) of $10.83, exceeding the Zacks Consensus Estimate of $10.29, marking a 16% increase from the previous year [2][6]. - The company experienced a 10% year-over-year rise in both adjusted operating revenues and expenses, indicating robust financial health despite rising costs [3]. Assets Management - Ameriprise achieved record levels in assets under management (AUM) and assets under administration (AUA), reaching $1.69 trillion, which is an 11% increase year-over-year [3][6]. Shareholder Actions - The company repurchased $897 million worth of shares during the quarter, reflecting confidence in its financial stability and future prospects [4]. Stock Performance - Currently, Ameriprise's stock price is $521.36, reflecting a 4.34% increase, with a market capitalization of approximately $48.44 billion [5]. - Over the past year, the stock has fluctuated between a high of $582.05 and a low of $396.14, showcasing its market volatility [5].

Core Insights - LPL Financial Holdings Inc. (LPLA) reported a revenue of $4.91 billion for the quarter ended December 2025, marking a 39.7% increase year-over-year and exceeding the Zacks Consensus Estimate by 2.19% [1] - The earnings per share (EPS) for the quarter was $5.23, up from $4.25 in the same quarter last year, representing an EPS surprise of 8.62% over the consensus estimate [1] Financial Performance Metrics - Total Advisory and Brokerage Assets reached $2,370.50 billion, surpassing the average estimate of $2,341.72 billion [4] - Brokerage Assets were reported at $977.90 billion, slightly below the average estimate of $984.04 billion [4] - Advisory Assets totaled $1,392.70 billion, exceeding the average estimate of $1,357.69 billion [4] - The number of advisors decreased to 32,178, compared to the estimated 32,753 [4] Revenue Breakdown - Revenue from commissions was $1.23 billion, slightly above the average estimate of $1.22 billion, reflecting a year-over-year increase of 27.6% [4] - Service and fee revenue was reported at $180.64 million, exceeding the average estimate of $170.29 million, with a year-over-year growth of 29.9% [4] - Asset-based fees generated $816.07 million, below the estimated $833.46 million, but still showing a 21.8% increase year-over-year [4] - Advisory revenue reached $2.54 billion, surpassing the average estimate of $2.47 billion, with a significant year-over-year increase of 59.4% [4] - Transaction revenue was $75.15 million, slightly below the average estimate of $76.18 million, reflecting a year-over-year increase of 22.1% [4] - Other asset-based revenue was $375.81 million, compared to the average estimate of $382.4 million, with a year-over-year change of 29.2% [4] - Client cash asset-based revenue was $440.25 million, below the average estimate of $457.44 million, showing a year-over-year increase of 16.2% [4] - Trailing commission revenue was $510.72 million, slightly below the average estimate of $521.52 million, with a year-over-year increase of 16.2% [4] Stock Performance - LPL Financial's shares have returned 2.7% over the past month, outperforming the Zacks S&P 500 composite, which saw a change of 0.8% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Insights - NewtekOne (NEWT) reported a revenue of $73.33 million for the quarter ended December 2025, reflecting a year-over-year decline of 2.7% and an EPS of $0.65, down from $0.69 a year ago [1] - The reported revenue fell short of the Zacks Consensus Estimate of $80.99 million, resulting in a surprise of -9.45% [1] - The company did not deliver an EPS surprise, as the consensus EPS estimate was also $0.65 [1] Financial Performance Metrics - NewtekOne's efficiency ratio was reported at 55.2%, which is higher than the two-analyst average estimate of 52.7% [4] - Total noninterest income was $55.85 million, below the average estimate of $62.12 million based on three analysts [4] - Net interest income stood at $17.48 million, compared to the average estimate of $18.87 million from three analysts [4] - Noninterest income from servicing was $5.2 million, slightly below the average estimate of $5.5 million based on two analysts [4] - Electronic payment processing income was reported at $10.45 million, compared to the average estimate of $12.27 million from two analysts [4] - Other noninterest income was $8.81 million, below the two-analyst average estimate of $10.73 million [4] - The net loss on loan servicing assets was reported at -$4.19 million, better than the average estimate of -$4.75 million from two analysts [4] - Dividend income was $0.5 million, slightly above the average estimate of $0.44 million based on two analysts [4] - Net gains on sales of loans were reported at $9.51 million, significantly lower than the two-analyst average estimate of $16.55 million [4] Stock Performance - Over the past month, shares of NewtekOne have returned +20.4%, outperforming the Zacks S&P 500 composite's +0.8% change [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 - The company reported growth in adjusted earnings per share despite declines in loan performance and loan volume [14] - Loan unit volume improved to a decline of 9.1% this quarter, compared to a decline of 16.5% last quarter, while loan dollar volume improved to a decline of 11.3% this quarter, versus a decline of 19.4% last quarter [15] - Changes to the forecast of future net cash flows improved, with the rate of decline narrowing from $58.6 million (0.5%) in Q3 2025 to $34.2 million (0.3%) in Q4 2025 [15] Business Line Data and Key Metrics Changes - The company financed nearly 72,000 contracts for dealers and consumers, collecting $1.3 billion overall [14] - The underperformance of the 2024 vintage was primarily related to loans originated prior to the scorecard change during Q3 2024 [14] - The number of active dealers declined by 2.8% year over year, and the average unit volume per active dealer declined by 6.4% year over year [16] Market Data and Key Metrics Changes - The company's market share in the core segment of used vehicles financed by subprime consumers was 4.5% for the first two months of Q4, down from 5.4% for the same period in 2024 [16] - The loan portfolio increased by 1% year over year on an adjusted basis [16] Company Strategy and Development Direction - The company aims to generate dealer and consumer demand by deepening relationships within the dealer network and leveraging data-driven insights [9] - The strategic objectives include empowering dealers through preferred channels and delivering world-class servicing and processing [9] - The CEO emphasized a focus on removing friction for customers and enhancing servicing capabilities through artificial intelligence [8] Management's Comments on Operating Environment and Future Outlook - The management acknowledged the impact of high inflation on subprime consumers and expressed a conservative approach to lending [19] - The CEO highlighted the importance of being customer-focused rather than competitive-focused, aiming to build solutions for large independent and franchise dealers [26] - The management believes the company is well-positioned to serve subprime customers across various economic cycles [37] Other Important Information - The company was named one of America's top 100 Most Loved Workplaces for the second consecutive year, ranking number 6 [12] - The CEO plans to layer technology and a data-informed approach on the company's strong foundation to enhance customer experience [13] Q&A Session Summary Question: How will the new CEO manage credit lending and underwriting? - The CEO plans to take a long-term and conservative approach to lending while continuously improving credit scoring models [19] Question: What is driving the increase in the provision for new originations? - The increase is attributed to the mix between the portfolio and purchase program, with the initial provision on the purchase program being significantly higher [21][22] Question: What is the competitive environment like, given the decline in market share? - The CEO noted that the competitive environment is evolving, with a focus on customer needs rather than competition [26] Question: How does the company view its leverage and capital distributions? - The company maintains its strategy regarding capital allocation and leverage, ensuring sufficient capital for new originations [33] Question: What is the perspective on affordability issues and used car prices? - The CEO believes the company is well-positioned to serve subprime customers regardless of economic cycles, focusing on a frictionless experience [37] Question: What is the outlook on prepayments in the portfolio? - There has been a decline in prepayments, which may indicate customers are staying in their vehicles longer [44]

Core Insights - Middle-income Americans are experiencing financial strain, with 68% reporting that their income is not keeping pace with the rising cost of living, a figure that has remained stable over the past two years [1] - The primary financial goal for 49% of middle-income families is to keep up with rising costs, indicating a lack of anticipated relief in the near term [2] - The CEO of Primerica noted that while attitudes among middle-income families have stabilized, they have not improved significantly, with many families relying on savings or credit cards to manage financial gaps [3] Financial Security and Savings - 70% of middle-income households reported that their ability to save for the future is "not so good" or "poor," showing only a slight improvement from 73% in the previous quarter [4] - Many families are delaying significant purchases, such as new appliances or vehicles, due to financial constraints, which is viewed as a prudent response to current economic pressures [5][6]

Core Insights - Ameriprise Financial reported a strong fourth quarter for 2025, with significant growth in revenue and earnings, driven by favorable equity markets and a positive overall environment [2][3] - The company achieved record operating metrics, including a 27% operating margin and a return on equity of 53.2%, the highest in its history [1][5] Financial Performance - Adjusted operating revenue increased by 10% to $4.9 billion, while adjusted operating earnings rose by 10% to over $1 billion, with adjusted operating earnings per share up 16% to $10.83 [2][5] - Total assets under management, administration, and advisement reached $1.7 trillion, marking an 11% year-over-year increase [6][12] Capital Return and Investments - The company returned $1.1 billion in capital during Q4 and $3.4 billion for the year, representing 88% of operating earnings, with plans for continued buybacks and investments in technology and AI [4][15] - Ameriprise holds approximately $2.1 billion in excess capital and $2.2 billion in holding company liquidity, indicating a strong balance sheet [16] Advice & Wealth Management - Advice & Wealth Management segment reported record client assets of $1.2 trillion, up 13%, with quarterly inflows of $13.3 billion, an 18% increase [5][7] - The Retirement Account Program assets increased by 17% to $670 billion, with net inflows of $12.1 billion in the quarter [7][11] Asset Management and Performance - Asset management operating earnings rose by 17% to $293 million, with revenues increasing by 12% to $1.0 billion, attributed to asset growth and higher performance fees [13] - The company had 103 four- and five-star Morningstar-rated funds at year-end, with a significant percentage of funds performing above the median over various time frames [12] Future Outlook - Management plans to continue investing in technology and digital capabilities while managing expense growth within historical ranges, with expectations for single-digit growth in AWM G&A [17][18] - The company remains optimistic about recruiting and retention, despite competitive advisor movement [18]