Opinions
Stan Wong
T, Rowe Price Group
TROW-Q
COMMENT
Jun 25, 2015
$78.060
Stock price when the opinion was issued
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In a strong sector, look for a stock that has a tailwind. They enjoy good returns and new in flows into mutual funds the last three months to reverse outflows. They boast earnings growth. In a strong market, owning an equity manager like this is a good idea. 90% of their revenue comes from advisory fees. (Analysts’ price target is $137.64)
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In general, he likes the asset managers with the equity markets moving higher over the last several years, and still expects equities to move higher. Asset managers should do quite well. This is more targeted in the target date retirement type of funds, which is kind of their sweet spot because of the aging demographics. Trading at about 15-16 times forward earnings with a 12% growth rate. He prefers Blackrock (BLK-N), which is a little bit better in terms of valuations. The growth in this one is closer to 15%.