Quarterly report of Fiera Capital a junior asset manager
Fiera Capital is one of the new stocks that this blog is watching.It is a junior asset manager headquartered in Montreal.It has steadily grown over the last five years; it has a total of $89 billion in assets under management (AUM) now.It experienced a 5% growth in (AUM) over the same quarter in 2014.It also got a15% growth in it's base over 2014.And lastly obtained a 19% growth in adjusted earnings per share (e.p.s.).
Highlights of the Quarter
Fiera had a good quarter which had a number of highlights.First it had the above average growth in adjusted earnings per share.Secondly it closed the acquisition of Samson Capital Advisors based in New York.Fiera acquired new mandates to sell product in Asia , Europe and U.S.A.Part of this was a deal with Nissay Life and a prominent European asset manager.
Assets under management went from $85 billion to $89 billion for a 3 to 4 % increase over 2014.This resulted in revenues going from $52 billion to $60 billion.There were another $2.5 billion revenues from other sources.This resulted in a 3% increase in adjusted EBITDA, going from $18 to $18.6 billion in Q3 for 2015.However EBITDA decreased by $4.5 billion over the second quarter because Fiera increased it's performance fees.So adjusted EBITDA went from $.27 per share in the second quarter to $.26 in the third.
Summary
Fiera had a good quarter although it had a temporary decrease in performance ( on a per share basis) from the second quarter.This blog believes that much of this business lost will return in the near future.Additionally assets under management increased by 5%.It has the new mandate with Nissay Life and it has just increased it's commitment here again.It has also commenced a normal course issuer bid for 3.5 million shares and has already started buying back shares.It also implemented a quarterly dividend of $.14 per share. This blog feels that each of these things will have a positive affect on share price.But many investors will remain sceptical of a new junior player in a league of giants and so Fiera will need one or two more good quarters before it returns to $14.00 a share.
use Blogdaleupsome for financial analysis;see Blogdaleupsome for financial analysis
Highlights of the Quarter
Fiera had a good quarter which had a number of highlights.First it had the above average growth in adjusted earnings per share.Secondly it closed the acquisition of Samson Capital Advisors based in New York.Fiera acquired new mandates to sell product in Asia , Europe and U.S.A.Part of this was a deal with Nissay Life and a prominent European asset manager.
Assets under management went from $85 billion to $89 billion for a 3 to 4 % increase over 2014.This resulted in revenues going from $52 billion to $60 billion.There were another $2.5 billion revenues from other sources.This resulted in a 3% increase in adjusted EBITDA, going from $18 to $18.6 billion in Q3 for 2015.However EBITDA decreased by $4.5 billion over the second quarter because Fiera increased it's performance fees.So adjusted EBITDA went from $.27 per share in the second quarter to $.26 in the third.
Summary
Fiera had a good quarter although it had a temporary decrease in performance ( on a per share basis) from the second quarter.This blog believes that much of this business lost will return in the near future.Additionally assets under management increased by 5%.It has the new mandate with Nissay Life and it has just increased it's commitment here again.It has also commenced a normal course issuer bid for 3.5 million shares and has already started buying back shares.It also implemented a quarterly dividend of $.14 per share. This blog feels that each of these things will have a positive affect on share price.But many investors will remain sceptical of a new junior player in a league of giants and so Fiera will need one or two more good quarters before it returns to $14.00 a share.
use Blogdaleupsome for financial analysis;see Blogdaleupsome for financial analysis
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