From current issue - BlackRock is their top pick. It’s stock value is back to 2018 levels. These firms are a play on an eventual rebound in stock prices and a revival of investor interest.
Re T. Rowe Price, Baron’s recommends the stock, but mentions some recent problems at the firm:
“T. Rowe Price has taken one of the biggest hits in the sector, with its shares down 46%, to $106. The former investor favorite has had outflows, and the performance of its growth-oriented mutual funds has been dismal this year. One of its flagship funds, T. Rowe Price New Horizons (PRNHX), is down 40% this year.”
Others mentioned as attractive acquisition candidates (no particular order):
Franklin Resources
Invesco
AllianceBernstein
Article: Asset Managers Are Worth Buying Now - by Andrew Bary
FWIW
Comments
It now trades cheaply at 10.5 X projected 2022 earnings, and yields 4.5%. T. Rowe Price also has one of the industry's best balance sheets, with $3.5 billion, or $16 a share, of net cash and fund investments. “Among active managers, it's best-of-breed,” says Warren. “The current multiple of 10 to 11 times is unheard of for T. Rowe.” Warren has a fair value of $155 for T. Rowe's shares. The stock historically has traded for 15 times (projected earnings)
(I’m not a fan of TRP personally. And think it’s a bit early to be buying any of these.)
https://seekingalpha.com/article/4519072-bar-harbor-bank-growing-small-cap-new-england-bank-yielding-4-1-percent
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The article is relatively brief. Most of us are aware these asset managers are way down. They tend to wax and wane as equity markets rise and fall, which affects their AUM. I’d say Barron’s was favorably disposed towards all 5 which I listed above. (Pick your own poison.) I’m saturated with financial type holdings. So not very interested in these. Otherwise I’d venture into BlackRock.
My next foray will be to dive into some depressed tech. Hence, some interest in blue chip funds which tend to own a lot. I did notice that PRMTX is now open. A great fund in the past. Wouldn’t mind owning some. But suffering from fund inflation (having too many).
Added: I’ll humbly submit that those of us who have witnessed first-hand some of the underlying issues at T. Rowe Price (primarily client commitment and service) may have a better “take” on the overall prospects for this firm than some analyst looking at historical performance or past and present P/E ratios. Those issues have been repeatedly referenced / described for well over a year now by some pretty astute members here. My guess is that they won’t be easily or quickly fixed.