Carlyle Group weaker; Capital One preferreds improve; Allstate rises

By James McCandless

San Antonio, Sept. 23 – The preferred space sustained a positive push from early trading, starting a new week on higher ground.

Leading the day, asset manager Carlyle Group LP’s 5.875% series A non-cumulative preferred units were down 2 cents to close at $25.31 on volume of about 1.2 million shares.

Elsewhere, in finance, Capital One Financial Corp.’s 5% series I fixed-rate non-cumulative perpetual preferred shares added 7 cents to close at $24.95 with about 850,000 shares trading.

Sector peer Bank of America Corp.’s 5% series LL and 6% series GG non-cumulative preferred stock both gained with the market.

The series LL preferreds rose 6 cents to close at $25.19 on volume of about 680,000 shares.

The series GG preferreds shot up 16 cents to close at $27.11 on volume of about 315,000 shares.

Wells Fargo & Co.’s 5.85% series Q fixed-to-floating rate non-cumulative perpetual class A preferreds and 5.625% series Y non-cumulative perpetual class A preferreds rose.

The series Q preferreds jumped up 19 cents to close at $26.72 with about 252,000 shares trading.

The series Y preferreds tacked on 16 cents to close at $26.85 with about 231,000 shares trading.

Insurance name Allstate Corp.’s 5.1% series H fixed-rate non-cumulative perpetual preferreds shifted positively.

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