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All major S&P 500 financial indexes drop in December '18

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All major S&P 500 financial indexes drop in December '18

All four major S&P 500 financial sub-indexes ended a tough 2018 by losing ground in December.

The S&P 500 Bank Index dropped 14.7%, the worst return of the group, while the S&P 500 Insurance Index posted the relatively best return, losing only 7.7%. By comparison, the S&P 500 itself lost 9.0%.

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Financial news company TheStreet Inc. led all major exchange-traded financial stocks in December 2018 with a 34.4% return. TheStreet's stock skyrocketed over 30% on Dec. 6 after the company announced that it would sell two institutional business units to Euromoney Institutional Investor PLC for $87.3 million and return a "significant portion" of the proceeds to shareholders.

Banking technology company Performant Financial Corp. and asset manager KCAP Financial Inc. had the second- and third-best returns of the month at 30.8% and 13.4%, respectively.

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Meanwhile, Ocwen Financial Corp., a mortgage-servicing company, fell 36.5% for the month, the worst return among all major exchange-traded financial stocks and a dismal continuation of November's 39.7% drop.

HealthEquity Inc. and EverQuote Inc. followed with losses of 32.7% and 32.3%, respectively. EverQuote's stock had already dropped by more than half in November 2018.

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