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Ifg Group Share Discussion Threads
Showing 251 to 274 of 275 messages
|wakey wakey - this is on the move....|
|Nice solid progress in the IFG share price.|
|Solid trading update this morning. Share price supported by good earnings growth and 3% dividend. I still believe that IFG will be an attractive takeover target within the next 12 months.|
|Read Edison's note on IFG GROUP, out this morning, by visiting hxxps://www.research-tree.com/company/IE0002325243
"IFG’s focus on core businesses and its investment for franchise growth clearly showed results in 2015 with growth in clients, assets and revenues, as well as meaningful profit growth. James Hay appears to have reached an inflexion point where the benefits of past investment were clearly seen in margin expansion and strong revenue growth. IFG is well positioned for further progress, supported by a strong and liquid balance sheet, in markets that offer good long-term growth potential and consolidation opportunities. We have increased our estimates and fair value..."|
|It can't be too long before IFG are bought over as part of consolidation in the pension/wealth management industry.|
|London listing should help cut the 'irish' discount.|
|London listing should help cut the 'irish' discount.|
|Nothing but good news coming from this company,
but still the share price is in limbo.
SIPP bolt-on to boost growth
Reports suggests that the addition of Capita's SIPP book and
related assets under administration (AUA) would take James
Hay's pro-forma SIPPs and AUA to 43,251 (+6%) and over
£16.6bn (+6%) respectively at the end of April 2014. Although
IFG's growth strategy for James Hay is primarily organically
focussed, it continues to look at opportunities to augment
growth through selective bolt-on initiatives and acquisitions.
Bolt-on to add circa £1bn AUA
Capita had announced in its IMS last November that it had taken a decision to close its
SIPP administration business based in Salisbury
, where James Hay is also headquartered,
as it was sub-scale and therefore unviable. Reports suggest that the book consists of
2,500 SIPPs with related AUA of circa £1bn. The terms of the deal have not been
James Hay typically generates circa £800
revenues per SIPP from year-two onwards.
Assuming a similar metric would imply additional revenues of around £2m a year at
James Hay in a full year (completion is scheduled for Q1 2015). James Hay reported
revenues of £37m in 2013.
Recent figures from Platforum ranked Jame
s Hay fifth alongside Transact in a league
table of advised platforms (led by Cofund
s with AUA of £65.6bn and FundsNetwork with
£48.7bn) with AUA of £15.64bn at the end of
March. This bolt-on closes the gap with
fourth-placed Standard Life (AUA of £20.3bn at end-March).
|Strange how this is a growth stock, worth well over 2 quid
and paying 4% dividend and trading at least 25% below it's nav.
I read where Goodbody have kept their target as us because
of the ongoing investment in ne technology.....
IFG has announced the appointment of Paul McNamara as its
new CEO. Currently Managing Director of Investments and
Insurance at Barclays, McNamara has significant experience
working in the financial services industry. He will join IFG on
AGM is on May 7th
IFG has announced the appointment of Paul McNamara as its new CEO. An actuary by
profession, McNamara previously held senior roles at Standard Life Group, HBOS (Lloyds),
AXA UK, McKinsey and Bank of Ireland.
During 2013, IFG embarked on a four-year strategic plan to substantially increase its
investment in the business (in people, technology and operational capability) with a view
to positioning James Hay (JH) to become a market leader in scale, product offering and
client service in the UK platform arena. Market growth estimates have been increased
significantly in the aftermath of the recent UK budget, and a broadening of JH's product
range to offer a Modular ISA and a Modular GIA leaves it better placed to compete as
a broader retirement wealth planning operator. The group is likely to provide a brief
update at its AGM on May 7th.|
|IFG's issued share capital consists of 104,507,665 Ordinary Shares of nominal value of EUR0.12 each with voting rights. IFG does not hold any Ordinary Shares in treasury. Therefore the total number of voting rights in IFG is 104,507,665 Ordinary Shares.|
|Will the bidder now reappear....certainly not an MBO
|Not surprised really, must be one of the top divvies on the ISEQ.|
|Davy from neutral to outperform.
Broader modular offering enhances
SIPPs are set to remain at the core of the platform of IFG's key
subsidiary, James Hay. However, the expansion of its product
range to offer a Modular ISA and a Modular GIA positions it as
a broader retirement wealth planning operator at a time when
platform market growth estimates have been raised
significantly in view of the recent budget measures. Investment
spend will continue, but an element of frontloading kept a lid
on earnings in 2013 and paves the way for a rebound in
2014/2015. While leaving our
estimates broadly intact at this
juncture, we are raising our rating to 'Outperform'.|
|Goodbody likely to up their 2.05 target.|
|Interesting to see the Davy and Goodbody notes this morning.
One wonders if the recent interest in the company was from
The key results focus will be on business momentum in IFG's
core UK franchises against the backdrop of the significant
investment the group has undertaken at its SIPP subsidiary,
James Hay. In addition, investors will be keen to hear
how the group is positioned to take advantage of the new flexible
pensions and improved ISA regimes proposed by the Chancellor
in his recent budget, with platform specialists Platforum
predicting that both advised and non-advised platforms are set
to win big from the new measures.|
|Goodbody Morning Wrap
21 Mar. 14
Focus on continued momentum
IFG is due to release FY13 results on March 27. The company indicated in its
November IMS that trends of the first half had continued. For H113, it reported adjusted EPS of 3.55p EPS and for FY13 we are forecasting 7.2p (8.6p on a Goodbody adjusted basis), from revenues of £77.3m and EBIT of £6m. We expect a net cash figure of £25m and DPS to remain
unchanged at 3.6p. IFGs most recent IMS indicated it achieved its annual SIPP target 12 months ahead of schedule, Saunderson House client wins increased by 50% and it recently announced the
disposal of some of its non core assets. Much of this performance will have been offset by
continued investment, particularly in key managerial positions, although the vacancy for
departing CEO Mark Bourke is yet to be filled. Pricing in the D2C SIPP market remains under
pressure and we will be looking for evidence pricing at James Hay remains steady. Further,
we expect continued momentum in the SIPP business and evidence Saunderson House has
continued its strong performance into 2014.
IFG Group is trading on 12x FY15 PE compared to 14x for its closest peers. Given
similar growth rates, this looks overly punitive. We value IFG on 14x FY15 PE
which generates a price target of 2.05. We remain positive on IFG and expect to
see cash accumulate over the forecast period following a period of significant
investment, which should lead to further returns to shareholders. BUY|
|IFG Group PLC Stock Rating Reaffirmed
reiterated their buy rating on shares of IFG Group PLC (LON:IFP) in a research report sent to investors on Wednesday morning, Analyst Ratings Network reports.
IFP has been the subject of a number of other recent research reports. Analysts at upgraded shares of IFG Group PLC to a buy rating in a research note on Wednesday. They now have a GBX 150 ($2.51) price target on the stock. Finally, analysts at reiterated a buy rating on shares of IFG Group PLC in a research note on Wednesday, December 18th. They now have a GBX 150 ($2.51) price target on the stock.
IFG Group PLC (LON:IFP) opened at 140.18 on Wednesday. IFG Group PLC has a 52 week low of GBX 108.00 and a 52 week high of GBX 161.00. The stock has a 50-day moving average of GBX 142.7 and a 200-day moving average of GBX 129.9. The company's market cap is £145.7 million.
IFG Group plc (LON:IFP) is engaged in the provision of financial services, and corporate and trustee services.|
|Shareholders like me I suppose have to be grateful that the analysts
have now consolidated the share price at 150, but one can't help being cynical
at the contruved manner in which the rerating was arrived at, having
to be wrangled by the shorts and curlies up from 110 area by a phantom
bidder, who was never named...|
|In a statement, the Dublin-headquartered company said it has sold IFG Financial Services to Ascot Lloyd for £3.5 million in cash, which could potentially rise by a further £2.1 million if certain revenue targets are met.|
|Not any more they dont....
never was more than a ruse....|
|We wont be told who the bidder is or was, yet the Takeover Panel
still have the fact on their list.|