Janney Montgomery Scott
Janney Montgomery Scott is a Philadelphia-based wealth management firm tracing its roots to 1832 and owned since 2024 by KKR-managed funds. Until January 2026 it also ran an institutional equity research group known for community bank and insurance coverage.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 1212M
- Actions
- 1512M
- Ratings / Price targets
- 12 / 3
- Upgrades / Downgrades
- 3 / 6
- Buy-rated
- 40%of 10 rated
- Median upside
- −0.8%
- On record
- Jun 2012 – Jul 2026
Overview
Before selling its institutional equities business to Brean Capital in January 2026, Janney covered more than 225 companies in financials, healthcare, infrastructure and real estate. Coverage of more than 140 depository institutions and insurance companies transferred to Brean. Janney says private ownership allows it to focus on clients' long-term needs without the pressure of quarterly earnings expectations.
Janney traces its roots to 1832 and has held the second-oldest membership on the New York Stock Exchange. Penn Mutual Life Insurance acquired it in 1982, and it bought Atlanta bank-focused investment bank FIG Partners in 2019. KKR-managed funds acquired Janney from Penn Mutual in November 2024. It then exited capital markets, selling public finance, M&A advisory and fixed income to Huntington effective January 1, 2026, and equity research, institutional equities and depository and insurance banking to Brean Capital on January 30, 2026.
Milestones
- 1832
Firm's roots established in Philadelphia
- 1982
Acquired by Penn Mutual Life Insurance
- 2019
Acquires Atlanta bank-focused investment bank FIG Partners
- 2024
KKR-managed funds acquire Janney from Penn Mutual
- 2026
Sells equity research and institutional equities to Brean Capital
Firm facts
- Legal name
- Janney Montgomery Scott LLC
- Type
- Full-service
- Founded
- 1832
- Headquarters
- Philadelphia, United States
- President and Chief Executive Officer
- Tony Miller
- Rating scale
- BuyNeutralSell6–12 months
- Also filed as
- Janney · Janney Capital · Janney Montgomery
- Website
- janney.com
Research philosophy
We approach our business with a long-term perspective and an understanding of the fundamentals of investing: asset allocation, diversification, and risk management.
Janney Capital Management, integrated into the firm in January 2026, bases its security analysis primarily on fundamental research into each company's operations, finances and industry. Janney's wealth management research team evaluates external managers for a clearly articulated investment philosophy and a repeatable process.
Rating methodology
Ratings were Buy, Neutral and Sell relative to comparable companies in the sector, based on 6–12 month return potential; analysts discussed fair values rather than setting formal price targets.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Algonquin Power & Utilities Corp.AQN | Buy | $7 |
 Eversource EnergyES | Buy | $95 |
 First Solar, Inc.FSLR | Buy | $260 |
 Middlesex Water CompanyMSEX | Buy | — |
 Saratoga Investment Corp.SAR | Neutral | — |
 ARMOUR Residential REIT, Inc.ARR | Buy | — |
 Avidbank Holdings, Inc.AVBH | Buy | — |
 Banner CorporationBANR | Buy | — |
 Princeton Bancorp, Inc.BPRN | Buy | — |
 Community Bank System, Inc.CBU | Neutral | — |
Most active analysts
- Sean Milligan1 notesFSLR
- Michael Gaugler1 notesAQN
Recent actions
| Date | Stock | Rating action | Rating | Target | Analyst |
|---|---|---|---|---|---|
| Jul 29 |  Landstar System, Inc.LSTR | Target | $182 | ||
| Jul 28 |  C.H. Robinson Worldwide, Inc.CHRW | Target | $155 | ||
| Jan 26 | STS&T Bancorp, Inc.STBA | Upgrade | Neutral →Buy | ||
| Jan 13 | Community Bank System, Inc.CBU | Downgrade | Buy →Neutral | ||
| Nov 24, 2025 | Eversource EnergyES | Upgrade | Neutral →Buy | ||
| Nov 10, 2025 | Algonquin Power & Utilities Corp.AQN | Upgrade | Neutral →Buy | $7 | Michael Gaugler |
| Nov 6, 2025 | LCLendingClub CorporationLC | Reiterate | Neutral | ||
| Nov 6, 2025 | ECEncore Capital Group, Inc.ECPG | Reiterate | Buy | ||
| Nov 6, 2025 | GEGreat Elm Capital Corp.GECC | Reiterate | Neutral | ||
| Oct 27, 2025 |  Essential Utilities, Inc.WTRG | Downgrade | Buy →Neutral | ||
| Oct 13, 2025 |  Cherry Hill Mortgage Investment CorporationCHMI | Downgrade | Buy →Neutral |