Cost controls + new products is the theme for this financial sector stock. The financial sector has been a difficult place for us to find companies we are comfortable with. Given the government involvement and lack of dividend security, we are underweight this sector. However, one company we like in this group is TROW. They recently raised their dividend in the 1st quarter 2010 from .25/quarter to .27/quarter. What we truly like is the future outlook for this stock. This weekend, Barron’s highlighted this company and spoke about their expansion into international mutual funds. In addition, they are adding ETFs and managemment has done a great job of containing costs. Earnings for 2010 are expected to rise 48% and then 16% into 2011. We believe this company will be a beneficiary of investors shifting out of bond funds into equity funds.
Catherine Avery on Bloomberg December 27
January 4, 2024
Bloomberg interviews Catherine Avery on December 27th, 2023