Summary Magellan Financial Group Ltd - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Magellan Financial Group Ltd (MFG) is a provider of asset management services. The company, along with its subsidiaries, offers investment management services for global equities and global...
Six Directors at Insignia Financial Ltd bought/maiden bought 253,026 shares at between 2.270AUD and 2.369AUD. The significance rating of the trade was 76/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company...
The independent financial analyst theScreener just awarded an improved star rating to INSIGNIA FINANCIAL (AU), active in the Speciality Finance industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date February 4, 2022, the...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Narrow-moat IOOF Holdings’ fair value estimate is cut to AUD 5.30 per share from AUD 5.60 primarily because of the sale of its 70% interest in Ord Minnett. We expect the sale to reduce IOOF group’s underlying net profit after tax, or NPAT, by about AUD 12 million per year, representing about 6% of forecast fiscal 2019 underlying NPAT. Notwithstanding the near-term earnings impact, which drives our valuation downgrade, we support the Ord Minnett sale because it should allow IOOF to focus on i...
Through an acquisition strategy IOOF has been able to take advantage of Australia’s mandatory superannuation contribution requirements and an ageing demographic that increases the demand for retirement savings and financial advisors. However, its disastrous appearance at the 2018 Financial Services Royal Commission has led to the unprecedented action of APRA seeking to disqualify five of its leadership team. We believe this has materially damaged its reputation and will make it harder to attra...
Narrow-moat IOOF Holdings’ fair value estimate is cut to AUD 5.30 per share from AUD 5.60 primarily because of the sale of its 70% interest in Ord Minnett. We expect the sale to reduce IOOF group’s underlying net profit after tax, or NPAT, by about AUD 12 million per year, representing about 6% of forecast fiscal 2019 underlying NPAT. Notwithstanding the near-term earnings impact, which drives our valuation downgrade, we support the Ord Minnett sale because it should allow IOOF to focus on i...
Better-than-expected fund flows into narrow-moat IOOF Holdings’ portfolio and estate administration business prompt an increase in our fair value estimate to AUD 5.60 per share from AUD 5.00 but with a very high uncertainty rating. The troubled wealth manager’s first-half fiscal 2019 result highlights the importance of completing the ANZ Bank Pensions and Investments funds, or P&I acquisition to ensure near-term earnings growth. IOOF’s underlying net profit after tax, or NPAT, of AUD 100.1...
Better-than-expected fund flows into narrow-moat IOOF Holdings’ portfolio and estate administration business prompt an increase in our fair value estimate to AUD 5.60 per share from AUD 5.00 but with a very high uncertainty rating. The troubled wealth manager’s first-half fiscal 2019 result highlights the importance of completing the ANZ Bank Pensions and Investments funds, or P&I acquisition to ensure near-term earnings growth. IOOF’s underlying net profit after tax, or NPAT, of AUD 100.1...
Better-than-expected fund flows into narrow-moat IOOF Holdings’ portfolio and estate administration business prompt an increase in our fair value estimate to AUD 5.60 per share from AUD 5.00 but with a very high uncertainty rating. The troubled wealth manager’s first-half fiscal 2019 result highlights the importance of completing the ANZ Bank Pensions and Investments funds, or P&I acquisition to ensure near-term earnings growth. IOOF’s underlying net profit after tax, or NPAT, of AUD 100.1...
Better-than-expected fund flows into narrow-moat IOOF Holdings’ portfolio and estate administration business prompt an increase in our fair value estimate to AUD 5.60 per share from AUD 5.00 but with a very high uncertainty rating. The troubled wealth manager’s first-half fiscal 2019 result highlights the importance of completing the ANZ Bank Pensions and Investments funds, or P&I acquisition to ensure near-term earnings growth. IOOF’s underlying net profit after tax, or NPAT, of AUD 100.1...
The final report of the Hayne Royal Commission released late Feb. 4, 2019 included no major surprises and is a net positive for Australia’s besieged major banks. Key recommendations are far less Draconian than expected. The government has stated all recommendations will be acted on and the opposition Labor party has confirmed all recommendations will be implemented. Importantly, despite severe reputational damage, in our view, the major banks have navigated through the Royal Commission with do...
The final report of the Hayne Royal Commission released late Feb. 4, 2019 included no major surprises and is a net positive for Australia’s besieged major banks. Key recommendations are far less Draconian than expected. The government has stated all recommendations will be acted on and the opposition Labor party has confirmed all recommendations will be implemented. Importantly, despite severe reputational damage, in our view, the major banks have navigated through the Royal Commission with do...
Narrow-moat-rated IOOF Holdings’ fair value estimate of AUD 5.00 per share is unchanged following announced amendments to the contract governing its proposed acquisition of ANZ Bank’s Pensions and Investments, or P&I, business. It appears to us the contract changes are primarily aimed at providing more time for the P&I trustee (OnePath Custodians) and ANZ Bank to consider whether to approve IOOF’s proposed acquisition of the P&I business. In addition, we think the changes ensure ANZ ...
Following the Australian Prudential Regulation Authority’s, or APRA’s, unprecedented action seeking to disqualify several of narrow-moat IOOF’s leadership team we have reduced its fair value estimate to AUD 5.00 per share from AUD 9.30, increased its uncertainty rating to very high from high, increased its cost of equity to 11% from 9%, and downgraded its stewardship rating to Poor from Standard. We believe all employees facing APRA’s disqualification order will eventually leave the comp...
Following the Australian Prudential Regulation Authority’s, or APRA’s, unprecedented action seeking to disqualify several of narrow-moat IOOF’s leadership team we have reduced its fair value estimate to AUD 5.00 per share from AUD 9.30, increased its uncertainty rating to very high from high, increased its cost of equity to 11% from 9%, and downgraded its stewardship rating to Poor from Standard. We believe all employees facing APRA’s disqualification order will eventually leave the comp...
The Australian Prudential Regulation Authority's uncompromising action seeking to disqualify several key employees of narrow-moat IOOF Holdings, including its CEO and chair, from acting as a responsible officer or trustee of a superannuation entity is a major hit to the company's reputation. We also expect it will lead to a senior management shakeup and place the Australia and New Zealand Banking Group/ANZ Wealth acquisition in serious jeopardy. We expected the ANZ Wealth acquisition to be the k...
Potential issues arising out of the fifth round of Royal Commission hearings, combined with the possibility for major structural changes in Australia’s advice industry (hinted at in the Royal Commission’s Interim Report) and the prospect of more aggressive regulation of narrow-moat IOOF, prompt a reduction in our fair value estimate to AUD 9.30 per share from AUD 9.80. This overshadowed news of the substantial completion of the acquisition of ANZ Bank’s wealth business. IOOF has announced ...
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