Thursday, September 24, 2020

The 80 Largest New York Financial Companies Total Pretax Earnings Dropped Precipitously By 63% in the Second Quarter of 2020, After Declining By An Even Worse 75% in the First Quarter of 2020. The Trump Administration's Reputedly Strong US Economy Clearly Hasn't Hit the Key New York Financial Industry.

From a review of Company SEC filings and the Google Finance website, I found 80 Financial Companies headquartered in the State of New York with stock market caps of above $1 bil in early June 2020 or in a subsequent IPO.  Of these 80 New York Financial Companies, 79 or 99% of them had June 2020 second quarter ends and 1 had a May 2020 second quarter end.

The table below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the second and first quarters of both 2020 and 2019 for each of these 80 excellent New York Financial Companies.
US US US US
GAAP GAAP GAAP GAAP
Pretax Pretax Pretax Pretax
Income Income Income Income
(Loss) (Loss) (Loss) (Loss)
Second Second First First
New York Financial Companies Quarter Quarter Quarter Quarter
Stock Market Caps Above $1 Bil City HQs 2020 2019 2020 2019
mils $ mils $ mils $ mils $
Investment-Related Activities Cos
Morgan Stanley New York       4,355       2,903       2,146       2,955
KKR & Co LP New York       2,157       1,527     (4,589)       1,795
BlackRock New York       1,763       1,335          613       1,358
Blackstone Group Inc New York       1,502          686     (2,766)       1,114
Goldman Sachs New York       1,291       3,127       1,348       2,719
Apollo Global Mgt LLC New York       1,139          359     (2,580)          335
Icahn Enterprises LP Sunny Isles, FL / New York          992        (565)     (2,486)        (658)
Nasdaq Inc New York          316          239          273          313
Ares Capital Corp New York          277          200        (612)          214
Prospect Capital New York          163            39        (186)            89
Golub Capital BDC New York          142            19        (229)            18
MarketAxess Holdings New York          104            63            92            65
Lazard Ltd New York            96          102            84          120
Evercore New York            87          127            49            84
Jefferies Financial Group New York            76          183          158            49
Alliance Bernstein Holding LP New York            63            59            70            53
Tradeweb Markets New York            55            31            78            47
PJT Partners New York            50            14            34            (0)
StoneX Group New York            49            22            56            31
BGC Partners New York            48            37            30          117
Cohen & Steers New York            43            43              9            50
Focus Financial Partners New York              3              5            46            (4)
Moelis & Co New York          (20)            39            23            12
Banks
JPMorgan Chase New York       5,565     11,342       3,116     11,233
Citigroup New York       1,448       6,165       3,110       6,012
Bank of New York Mellon New York       1,181       1,285       1,227       1,193
M&T Bank Corp Buffalo          312          626          350          634
Signature Bank New York          155          206          152          202
New York Community Bancorp Westbury          140          130          115          129
Sterling Bancorp Montebello            58          120              6          130
Community Bank System DeWitt            44            56            49            51
NBT Bancorp Norwich            31            39            12            37
Tompkins Financial Ithaca            27            24            10            27
Real Estate Investment Trusts (REITs)
Annaly Capital Management New York          858     (1,782)     (3,667)        (847)
Kimco Realty New Hyde Park          733            65            66            92
VICI Properties Inc New York          232          155          (22)          153
W.P. Carey Inc New York          123            69            25            67
New York Mortgage Trust New York          119            22        (589)            44
MFA Financial New York            97            93        (909)            89
SL Green Realty New York            67          174          127            53
Arbor Realty Trust Uniondale            66            42          (83)            30
Acadia Realty Trust Rye            65            (5)          (61)              3
New Residential Investment New York            62          (47)     (1,774)          202
Apollo Commercial RE Finance New York            60            61        (128)            68
Life Storage Williamsville            37            41            37            35
Lexington Realty Trust New York            20            24            19            28
Blackstone Mortgage Trust New York            19            76          (53)            77
Getty Realty Jericho            11            13            13            11
Brixmor Property Group New York              9            69            60            63
Global Net Lease New York              6            16            11              9
Paramount Group New York              4              6              4              6
Ladder Capital Corp New York            (6)            38          (19)            22
Empire State Realty Trust New York          (22)            20              8              9
Chimera Investment Corp New York          (55)            59        (371)          118
Outfront Media New York          (59)            55              4              4
Two Harbors Investment Corp New York, NY / Minnetonka, MN        (192)          (88)     (1,883)          (36)
Vornado Realty Trust New York        (216)       2,624          (92)          243
Insurance Cos
Marsh & McLennan New York          787          550       1,007          944
Arch Capital Group Ltd New York          493          530          (61)          541
Alleghany New York          230          376        (466)          556
Assurant New York          227          193          109          217
National General Holdings New York          225            99          129          108
Assured Guaranty Ltd New York          222          181          (62)            58
MetLife New York          197       2,297       5,643       1,744
Lemonade New York          (21)          (23)          (36)          (22)
Voya Financial New York          (48)          243            44          102
Travelers Companies New York, NY / Saint Paul, MN          (85)          665          720          967
Loews Corp New York     (1,074)          275     (1,121)          508
AXA Equitable Holdings New York     (5,019)          441       6,887        (924)
American International Group New York     (9,661)       1,837       2,558       1,154
FinTechs
Mastercard Purchase       1,690       2,519       1,987       2,203
Virtu Financial New York          405          (67)          466          (16)
E Trade Group New York, NY / Arlington. VA          264          295          256          392
Other Financial Cos
S&P Global New York       1,075          782          877          566
Moody's Corp New York          666          432          564          412
American Express New York          622       2,219          452       1,958
Broadridge Financial Solutions Lake Success          295          230          211          224
MSCI Inc New York          139          160          163          128
Triton Intl Ltd Purchase            77            94            83          101
Fortress Transportation & Infrastructure Investors New York          (19)            13            (4)          (10)
Total 80 New York Financial Cos     17,437     46,728     10,937     42,978
… % Change From Prior Year Quarter -63% -75%



Posted by at