MKTX, PGR, BEN among top S&P500 financial movers in Q1 as sector boasts notable gains

seekingalpha03-29

Financial Select Sector SPDR Fund ETF (NYSEARCA:XLF), which tracks S&P 500 financials sector, saw a strong start to the quarter, as it gained 11.55% since the start of the year. The financials sector'...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2423546000?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1213574690/image_1213574690.jpg","is_english":true,"pubTime":"2024-03-29 22:13","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2423546000","market":"sg","top_or_hot":-1,"title":"MKTX, PGR, BEN among top S&P500 financial movers in Q1 as sector boasts notable gains","media":"seekingalpha","content":"<div>\n<p>Financial Select Sector SPDR Fund ETF (NYSEARCA:XLF), which tracks S&P 500 financials sector, saw a strong start to the quarter, as it gained 11.55% since the start of the year. The financials sector'...</p>\n\n<a href=\"https://seekingalpha.com/news/4084253-xlf\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>MKTX, PGR, BEN among top S&P500 financial movers in Q1 as sector boasts notable gains</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMKTX, PGR, BEN among top S&P500 financial movers in Q1 as sector boasts notable gains\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-29 22:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4084253-xlf><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Financial Select Sector SPDR Fund ETF (NYSEARCA:XLF), which tracks S&P 500 financials sector, saw a strong start to the quarter, as it gained 11.55% since the start of the year. The financials sector'...</p>\n\n<a href=\"https://seekingalpha.com/news/4084253-xlf\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BBT3K403.USD","symbol_name":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","start_time":0,"source_url":"https://seekingalpha.com/news/4084253-xlf","article_id":"2423546000","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1213574690/image_1213574690.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2423546000","pubTimestamp":1711721580,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Financial Select Sector SPDR Fund ETF (NYSEARCA:XLF), which tracks S&P 500 financials sector, saw a strong start to the quarter, as it gained 11.55% since the start of the year. The financials sector'","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","SG9999014005.SGD":"United Global Durable Equities Fund Acc SGD","PGR":"美国前进保险公司","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","BK7078":"赌场与赌博","BK4581":"高盛持仓","LU0234572021.USD":"高盛美国核心股票组合Acc","BEN.AU":"BENDIGO AND ADELAIDE BANK","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","IVZ.AU":"INVICTUS ENERGY LTD","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU0211326755.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) ACC","XLF":"金融ETF","MKTX":"MarketAxess Holdings","BK4107":"财产与意外伤害保险","BEN":"富兰克林资源","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","HIG":"哈特福德金融","BK4532":"文艺复兴科技持仓","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","GL":"Globe Life Inc.","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","IVZ":"美国景顺集团","LU0211326839.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) INC","FDN":"First Trust Dow Jones Internet I","BK4534":"瑞士信贷持仓","BK4162":"人寿与健康保险","BK4533":"AQR资本管理(全球第二大对冲基金)","FDS":"辉盛研究系统","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","ALL":"好事达","ALL.AU":"ARISTOCRAT LEISURE LTD","ACGL":"艾奇资本","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","WRB":"WR柏克利","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","BAC":"美国银行"},"translate_title":"MKTX、PGR、BEN跻身第一季度标准普尔500强金融机构之列，行业收益显著","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IVZ":1,"XLF":1,"WRB":1,"PGR":1,"MKTX":1,"IVZ.AU":1,"ACGL":1,"HIG":1,"GL":1,"VIXmain":1,"ESmain":1,"FDS":1,"ALL":1,"ALL.AU":1,"BAC":1,"BEN":1,"BEN.AU":1,"FDN":0.9},"content_text":"Financial Select Sector SPDR Fund ETF (NYSEARCA:XLF), which tracks S&P 500 financials sector, saw a strong start to the quarter, as it gained 11.55% since the start of the year. The financials sector's gain outperformed S&P 500's rise of 10.79%.   The sector, which had a volatile last year, showed consistent gains in the first three months of 2024 to become the top gainer among the 11 S&P500 sectors. In Q1 2023, the sector was down 6%. One of the major financial market events of 2023 was the collapse of numerous small banks. The market witnessed five bank failures throughout the year, the last occurring in November with the fall of Citizens Bank. Industries Q1 Performance The sector, which saw stability at the end of last year with the Federal Reserve holding rates steady, has seen the momentum continue, as the Fed continues to keep rates unchanged and also reaffirmed its intention to have three interest rate cuts in the year.  Banks rose 13.12%, while Financial Services gained 9.86%, and Insurance up 15.23% in Q1. U.S. stock fund flows into and out of the financials sector have swung from week to week. The financials-focused ETF had a net inflow of $178.4M as of March 28.  Last week, the sector also saw the biggest inflows of weekly net buying since August 2021, according to a BofA Securities Equity Client Flow Trends report. What Are Top 5 movers in Q1 Gainers   The Progressive (PGR) +27.96%  The Hartford Financial Services (HIG) +26.60%  W. R. Berkley (WRB) +22.58%  Arch Capital (ACGL) +22.36%  Allstate (ALL) +20.30%   Losers  MarketAxess (MKTX) -23.46%  Invesco (IVZ) -6.54%  Franklin Resources (BEN) -4.03%  Globe Life (GL) -4.66%  FactSet Research Systems (FDS) -1.80%   What Analysts Expect Morgan Stanley analysts said that financial sector (XLF) is seeing continued rebounding in capital markets activity, mergers and acquisitions, equity capital markets, and debt capital markets as a percent of nominal GDP near three-decade lows. “Our team believes that the money center banks are a way to play this view,” the analysts added, and named Bank of America (BAC), Citi (C), Goldman Sachs (GS), and JPMorgan (JPM) -- all rated overweight. SA analyst, Ricardo Fernandez said, while the upside and growth potential are mundane the shift away from banks to payment, services, and insurance is positive. The Fund has a steady revenue growth forecast of 6% and is expected to have a 10% EPS growth, but banks are in the weak spot with declining EPS, Fernandez said, calling the financial sector as the grease of the modern economy as well as a growth multiplier. \"Risks presented by the banks and insurers are mitigated somewhat by the heavy presence of what used to be considered Information Technology companies in XLF's index,\" said another analyst Psycho Analyst. The analyst added the ETF is likely to respond more strongly to reports of events impacting on banks, especially smaller, regional banks as the \"average investor tends to think of banks when they think of XLF.\"  What Quantitative Measures Say XLF receives a Buy rating from SA quant system with 4.21 score. This comes in large part due to an D grade in the category of risk. The stock, however, received high grades in other areas, with an A for momentum, B for dividends, A+ liquidity and A for Expenses.   More on Financial Select Sector SPDR ETF  XLF: Far More Than Banks XLF: How Exposed Is It To Inflation And Fluctuating Rates? MS analysts bullish on Money Center Banks with ongoing capital markets rebound Lufax Holding dominates week's financial movers with 53% surge Seeking Alpha’s Quant Rating on Financial Select Sector SPDR ETF","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2423546000"}