JHG - Janus Henderson Group downgraded by Keefe Bruyette analyst

• Keefe Bruyette Analyst Michael Brown downgraded Janus Henderson Group ( JHG ) to Underperform from Market Perform, and lowered the price target on the asset manager to $22 from $28.
• Shares were trading ~4% lower.
• Brown had taken over coverage of traditional asset managers with an Underweight rating, citing near- and long-term pressure on flows as well as margins and profitability in the sector.
• The pressure on the sector will be worsened by the "risk-off environment seen in 2022", the analyst said in a research note.
• Seeking Alpha's Quant Rating system gives JHG shares a Sell rating, citing declining growth and decelerating momentum compared to other financials stocks.
• The sell-side analysts have rated the shares a Hold on an average, with an average price target of $28.99.

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