3 Stocks Dragging The Financial Services Industry Downward

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 34 points (0.2%) at 16,585 as of Friday, May 9, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,493 issues advancing vs. 1,448 declining with 155 unchanged.

The Financial Services industry currently is unchanged today versus the S&P 500, which is up 0.1%. On the negative front, top decliners within the industry include GAIN Capital Holdings ( GCAP), down 16.2%, Main Street Capital Corporation ( MAIN), down 4.9%, Nelnet ( NNI), down 3.0%, WisdomTree Investments ( WETF), down 2.5% and AllianceBernstein Holding L.P ( AB), down 2.2%. Top gainers within the industry include Encore Capital Group ( ECPG), up 3.7%, KKR ( KKR), up 2.0%, Stifel Financial ( SF), up 1.6% and Charles Schwab ( SCHW), up 1.3%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Affiliated Managers Group ( AMG) is one of the companies pushing the Financial Services industry lower today. As of noon trading, Affiliated Managers Group is down $1.64 (-0.8%) to $190.56 on average volume. Thus far, 214,953 shares of Affiliated Managers Group exchanged hands as compared to its average daily volume of 543,500 shares. The stock has ranged in price between $190.01-$192.71 after having opened the day at $192.68 as compared to the previous trading day's close of $192.20.

Affiliated Managers Group, Inc., through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. Affiliated Managers Group has a market cap of $10.8 billion and is part of the financial sector. Shares are down 11.4% year-to-date as of the close of trading on Thursday. Currently there are 5 analysts that rate Affiliated Managers Group a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Affiliated Managers Group as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, impressive record of earnings per share growth, expanding profit margins and compelling growth in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full Affiliated Managers Group Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

2. As of noon trading, E*Trade Financial ( ETFC) is down $0.26 (-1.2%) to $20.97 on average volume. Thus far, 2.7 million shares of E*Trade Financial exchanged hands as compared to its average daily volume of 5.0 million shares. The stock has ranged in price between $20.79-$21.37 after having opened the day at $21.27 as compared to the previous trading day's close of $21.23.

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand name in the United States. E*Trade Financial has a market cap of $6.3 billion and is part of the financial sector. Shares are up 8.1% year-to-date as of the close of trading on Thursday. Currently there are 6 analysts that rate E*Trade Financial a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates E*Trade Financial as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full E*Trade Financial Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

1. As of noon trading, Bank of New York Mellon ( BK) is down $0.32 (-0.9%) to $34.15 on average volume. Thus far, 3.4 million shares of Bank of New York Mellon exchanged hands as compared to its average daily volume of 5.8 million shares. The stock has ranged in price between $33.78-$34.41 after having opened the day at $34.28 as compared to the previous trading day's close of $34.47.

The Bank of New York Mellon Corporation provides various financial products and services in the United States and internationally. Its Investment Management segment provides institutional, intermediary, retirement and retail investment management, distribution, and related services. Bank of New York Mellon has a market cap of $38.9 billion and is part of the financial sector. Shares are down 1.4% year-to-date as of the close of trading on Thursday. Currently there are 4 analysts that rate Bank of New York Mellon a buy, 2 analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Bank of New York Mellon as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, expanding profit margins and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Bank of New York Mellon Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the financial services industry could consider Financial Select Sector SPDR ( XLF) while those bearish on the financial services industry could consider Proshares Short Financials ( SEF).

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