This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Technical Observations – For
Technical Observations – Against
Shares down little more than the 4% adjustment because they no longer trade with the right to receive the dividend in June (ex-dividend or ex-div). Potential for the shares to close today’s gap. The shares remain in a channel. Recent results from asset management companies have been positive with growth in assets under management.
Recent FY results showed profits boosted by strong investment inflows as well as slowdown in life-expectancy improvements/higher mortality among pensioners, reducing pension payments.
Attractive 5.9% dividend yield. Potential for some of the 48% of Neutral/Negative brokers to upgrade, supported by 68% of 12-month price targets suggesting upside from current levels. The consensus 290p (up from 280p in mid April) is above our short term objective of revisiting recent highs.
Next Event: AGM, 17 May
Latest Broker 12-Month Consensus: 52% Buy, 26% Hold, 22% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
| Share | 1wk | 1m | 3m | 6m | 1yr | 2yr | 3yr | 4yr | 5yr |
| Perf % | -2.7 | 5.0 | -1.9 | 0.0 | 2.2 | 9.8 | 1.3 | 28.5 | 59.4 |
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