Let’s dig into the relative performance of P10 (NYSE: PX) and its peers as we unravel the now-completed Q3 custody bank earnings season.

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 16 custody bank stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 5%.

Luckily, custody bank stocks have performed well with share prices up 12.2% on average since the latest earnings results.

Weakest Q3: 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 $75.93 million, up 2.3% year on year. This print fell short of analysts’ expectations by 4.5%. Overall, it was a slower quarter for the company with a significant miss of analysts’ EBITDA and management fees estimates.

P10 delivered the weakest performance against analyst estimates of the whole group. Unsurprisingly, the stock is down 1.3% since reporting and currently trades at $10.45.

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

Best Q3: Hamilton Lane (NASDAQ: HLNE)

With over $100 billion in assets under management and supervision, Hamilton Lane (NASDAQ: HLNE) is an investment management firm that specializes in private markets, offering advisory services and fund solutions to institutional and private wealth investors.

Hamilton Lane reported revenues of $190.9 million, up 27.3% year on year, outperforming analysts’ expectations by 12.8%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.

The market seems happy with the results as the stock is up 27.7% since reporting. It currently trades at $146.81.

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

Affiliated Managers Group (NYSE: AMG)

Using a partnership approach that preserves entrepreneurial culture at its portfolio companies, Affiliated Managers Group (NYSE: AMG) is an investment firm that acquires stakes in boutique asset management companies while allowing them to maintain operational independence.

Affiliated Managers Group reported revenues of $528 million, up 2.2% year on year, falling short of analysts’ expectations by 1.4%. It was a mixed quarter as it posted a solid beat of analysts’ AUM estimates but a slight miss of analysts’ revenue estimates.

Affiliated Managers Group delivered the slowest revenue growth in the group. Interestingly, the stock is up 29% since the results and currently trades at $307.05.

Read our full analysis of Affiliated Managers Group’s results here.

Northern Trust (NASDAQ: NTRS)

Founded in 1889 during Chicago's post-Great Fire rebuilding boom, Northern Trust (NASDAQ: NTRS) provides wealth management, asset servicing, and banking solutions to corporations, institutions, families, and high-net-worth individuals globally.

Northern Trust reported revenues of $2.03 billion, up 5.8% year on year. This result was in line with analysts’ expectations. Aside from that, it was a mixed quarter as it also produced a solid beat of analysts’ AUM estimates but a slight miss of analysts’ advisory and servicing fees estimates.

The stock is up 12.3% since reporting and currently trades at $144.33.

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

Cohen & Steers (NYSE: CNS)

Founded in 1986 as a pioneer in real estate investment trusts (REITs), Cohen & Steers (NYSE: CNS) is an investment manager specializing in real estate securities, infrastructure, real assets, and preferred securities for institutional and individual investors.

Cohen & Steers reported revenues of $141.7 million, up 6.4% year on year. This print topped analysts’ expectations by 2.1%. It was a strong quarter as it also logged a decent beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.

The stock is up 2.1% since reporting and currently trades at $67.17.

Read our full, actionable report on Cohen & Steers here, it’s free.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.