Putting new vinyl siding might make it look nice if H.I.G. Quicken needs a new kitchen, bathrooms, central air and upgraded boiler – in other words a complete gutjob.
With the sale of Quicken, it’s akin to the old house that needs upgrading to modern standards. Especially with a YoY declining revenue base. If I were willing to make a guestimate, I would guess Quicken sold for around $200–300 million and hope certainly for under $500 million. Unfortunately terms of the sale were not disclosed. Just to give you perspective, Quicken in 2015 generated under $51 million in revenue for Intuit.
Capital according to Wikipedia has $19 billion of equity capital under management. We may receive compensation when you click on links to those products or services This article/post contains references to products or services from one or more of our advertisers or partners.
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The company saw a positive market appreciation of $13.7 billion in other investment portfolios. The cash inflows include net inflows from sub-advised clients and the firm’s other sponsored portfolios that were offset in part by net cash outflows from a small number of institutional investors.
The funds also saw a market appreciation of $21.4 billion during the quarter, reflecting strong performance in comparison to the prior quarter.įor the other investment portfolios, net cash inflows during the fourth quarter were $2.8 billion, including $0.7 billion of transfers from mutual funds. In 4Q15, the mutual fund’s net cash flows after client transfers include net outflows of $1.4 billion from the stock and blended asset funds that were offset in part by net inflows of $0.9 billion into the fixed income funds and $0.2 billion into the money market funds. Together, these companies form 8.7% of the Vanguard Financials ETF (VFH). Let’s compare this to the net incomes of its peers:īank of New York Mellon (BK): $2.7 billion Rowe posted net income of $1.2 billion in the last fiscal year.
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