Looking back on custody bank stocks’ Q1 earnings, we examine this quarter’s best and worst performers, including P10 (NYSE: PX) and its peers.

Custody banks safeguard financial assets and provide services like settlement, accounting, and regulatory compliance for institutional investors. Growth opportunities stem from increasing global assets under custody, demand for data analytics, and blockchain technology adoption for settlement efficiency. Challenges include fee pressure from large clients, substantial technology investment requirements, and competition from both traditional players and fintech firms entering the space.

The 12 custody bank stocks we track reported a mixed Q1. As a group, revenues beat analysts’ consensus estimates by 1%.

Thankfully, share prices of the companies have been resilient as they are up 5.7% on average since the latest earnings results.

P10 (NYSE: PX)

Operating as a bridge between institutional investors and hard-to-access private market opportunities, P10 (NYSE: PX) is an alternative asset management firm that provides access to private equity, venture capital, impact investing, and private credit opportunities in the middle and lower middle markets.

P10 reported revenues of $67.67 million, up 2.3% year on year. This print fell short of analysts’ expectations by 0.8%. Overall, it was a slower quarter for the company with EPS in line with analysts’ estimates.

Interestingly, the stock is up 9.3% since reporting and currently trades at $12.47.

Read our full report on P10 here, it’s free.

Best Q1: Voya Financial (NYSE: VOYA)

Originally spun off from Dutch financial giant ING in 2013 and rebranded with a name suggesting "voyage," Voya Financial (NYSE: VOYA) provides workplace benefits and savings solutions to U.S. employers, helping their employees achieve better financial outcomes through retirement plans and insurance products.

Voya Financial reported revenues of $1.9 billion, up 2.2% year on year, outperforming analysts’ expectations by 13.5%. The business had a stunning quarter with a beat of analysts’ EPS estimates.

The market seems happy with the results as the stock is up 11.8% since reporting. It currently trades at $75.89.

Is now the time to buy Voya Financial? Access our full analysis of the earnings results here, it’s free.

Slowest Q1: Franklin Resources (NYSE: BEN)

Operating under the widely recognized Franklin Templeton brand since 1947, Franklin Resources (NYSE: BEN) is a global investment management organization that offers financial services and solutions to individuals, institutions, and wealth advisors worldwide.

Franklin Resources reported revenues of $1.59 billion, down 3.7% year on year, falling short of analysts’ expectations by 18.8%. It was a softer quarter as it posted a significant miss of analysts’ EPS estimates.

Franklin Resources delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 5.5% since the results and currently trades at $25.29.

Read our full analysis of Franklin Resources’s results here.

Invesco (NYSE: IVZ)

With roots dating back to 1935 when it pioneered the first mutual fund with an objective of capital growth, Invesco (NYSE: IVZ) is a global asset management firm that offers investment solutions across equities, fixed income, alternatives, and multi-asset strategies.

Invesco reported revenues of $1.10 billion, down 25.5% year on year. This number topped analysts’ expectations by 0.8%. Zooming out, it was a slower quarter as it recorded a significant miss of analysts’ EPS estimates.

The stock is up 8.9% since reporting and currently trades at $22.

Read our full, actionable report on Invesco here, it’s free.

Ameriprise Financial (NYSE: AMP)

Founded in 1894 and spun off from American Express in 2005, Ameriprise Financial (NYSE: AMP) provides financial planning, wealth management, asset management, and insurance products to help individuals and institutions achieve their financial goals.

Ameriprise Financial reported revenues of $4.34 billion, up 3.9% year on year. This result was in line with analysts’ expectations. Zooming out, it was a mixed quarter as it also logged a narrow beat of analysts’ EPS estimates.

The stock is down 3.6% since reporting and currently trades at $516.89.

Read our full, actionable report on Ameriprise Financial here, it’s free.

Market Update

As a result of the Fed’s rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed’s 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump’s victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025.

Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.