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US securities and investment companies dominate November among financials

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US securities and investment companies dominate November among financials

U.S. financial indexes continued to move up in November, led by the SNL U.S. Securities & Investments Index and SNL U.S. Insurance Index, which returned 5.3% and 4.0%, respectively. Meanwhile, the S&P 500 returned 3.1%, which was better than the SNL U.S. Bank and Thrift Index, the SNL U.S. Specialty Lender Index, the SNL U.S. Financial Technology Index and the SNL U.S. Investment Companies Index, which posted returns between 3.0% and 0.1%.

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TriNet Group Inc.'s 28.9% return led the nation last month among major exchange-traded financial companies with more than $100 million in market capitalization and average daily volume over 20,000 shares for the past three months. On Nov. 2, the financial technology company reported $42.8 million in net income, almost three-times the amount reported a year earlier. The company's stock rose by 15% the following day.

Hamilton Lane Inc., posted the second-highest return at 25.4%, while PRA Group was close behind, returning 24.7% for November. PRA's stock surged almost 23% on Nov. 9 after the company reported earnings. Janney Montgomery Scott analyst John Rowan, who upgraded the stock to "neutral" from "sell," said that PRA's additional revenue "caught [him] off guard."

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On the flip side, Investment Technology Group Inc.'s 23.3% loss for November was the biggest drop among all the financial stocks studied. The company's stock price fell by 14.7% on the first day of the month after it disclosed a $47.0 million net loss for the third quarter, compared to a $4.6 million profit in the second quarter and a $23.9 million loss in the year-ago quarter.

In addition, AmTrust Financial Services Inc. and LendingClub Corp. both posted a negative 23.2% return in November. Both companies reported net losses for the third quarter. However, LendingClub's $6.7 million loss was an improvement over the previous year's $36.5 million loss for the third quarter.

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Click here to view a template on historical total returns.

Click here to view a template that provides pricing trends and profitability ratios for financial institutions.