Quilter Share Discussion Threads

[1jat] 14/3/2024 10:39

Ignore the thumbs down…..it seems to be happening on most boards that any post gets one by default…I do wonder if it is a system bug.

My view (and that of most users) is that if you want to down vote, you should put an alternative view.
And the more posters the better.

I have engaged Quilter to give me advice on my one DB and 6 DC pension pots…will report back on the experience….at the moment it is early days.

[longwell] 11/3/2024 08:07

Impressed with a thumbs down !!!An explanation or view would help.

[longwell] 08/3/2024 14:18

Great result, good dividend yield.Lots of potential, or next take over target?

[1jat] 24/1/2024 09:04

Agreed RB….but the personal line of Aberdeen did reasonably for AUM….it was their Investment Management that was the continuing drag.

I like the focus QLT has on being an advice led business. There is a great need across the country for more finance advice…much of it is quite basic. The recurring nature of many of the relationships and fees makes it reliable income stream.

The problem for retail customers is how much of their returns is taken in charges by the IM, the platform, the advice charge….it can easily get to 2.5-3% pa with tax to pay on top….with that level of burden, getting a real return is extremely challenging.

This will put pressure on costs, and the advice is mostly people based cost which has limits to its scalability….I expect AI will help improve advisor support processes…but how much time this will free up to deal with clients is unknown.

[robertball] 24/1/2024 08:18

Much better than Aberdeen

[1jat] 24/1/2024 08:06

Q4 trading seems to have improved.
I expect a lot of Advice business this year to take advantage of allowances / changes in tax rates that may be temporary.

[its the oxman] 08/8/2023 16:28

Good results. Remains heavily oversold. All the asset managers are near their lows, lots of upside one day.

[neilyb675] 08/8/2023 07:13

RNS Number : 5649I

Quilter PLC

08 August 2023

News Release

8 August 2023

Quilter plc interim results for the period ended 30 June 2023

Quilter delivers 25% increase in adjusted profit and improved operating margin. Further growth and efficiency initiatives underway

Steven Levin, Chief Executive Officer, said:

"We have delivered a strong improvement in first half profitability, pleasing flow outcomes in the Quilter channel and improved our market share of new advised platform flows. Our business model is fully aligned with the principles of the Consumer Duty regime and my focus is on doing more for our customers to improve business momentum in the near-term, and deliver faster growth and higher returns to shareholders in the longer-term. We are targeting an additional GBP50 million of Simplification savings by 2025 and we expect consensus profit estimates for this year to increase materially."

Highlights

-- Assets under Management and Administration ("AuMA") of GBP101.7 billion at the end of June 2023, increased by 2% on 31 December 2022 (GBP99.6 billion) principally due to positive market movements of GBP1.9 billion and:

o Core business gross inflows of GBP5.5 billion in the first half which were broadly evenly spread between each quarter. Core net inflows in the first half were GBP0.7 billion (Q1: GBP409 million, Q2: GBP247 million). This reflected a good performance from the Quilter channel in both High Net Worth and Affluent with a more muted performance from our IFA/Direct channels across both segments. Market share of gross platform flows increased in both quarters. Notably, Q2 flows were up 5% year-on-year despite a 9% decline in the overall market over the same period.

o Non-core net outflows of GBP0.5 billion (H1 2022: GBP0.2 billion) which relate to assets we still manage on behalf of businesses we have sold.

-- Adjusted profit before tax increased by 25% to GBP76 million (H1 2022: GBP61 million). Revenue increased by 3% to GBP312 million (H1 2022: GBP303 million) supported by revenue generated on corporate cash balances. This was coupled with strong expense discipline which delivered a third consecutive decline in first half costs, despite inflationary pressures, and supported an increase in the operating margin to 24% (H1 2022: 20%).

-- We expect to deliver our target GBP45 million Simplification cost savings by end 2023, a year earlier than planned. An additional GBP50 million of Simplification (Phase 2) savings are targeted for delivery by the end of 2025, with initiatives in train to improve each of our businesses.

-- Stabilisation in Quilter restricted adviser headcount which increased by nine financial planners on December 2022 levels.

-- Adjusted diluted earnings per share increased 34% to 4.3 pence (H1 2022: 3.2 pence) supported by the share count reduction from our capital return programme in 2022.

-- IFRS profit after tax attributable to shareholders of GBP5 million (H1 2022: GBP151 million) with the period-on-period variance largely due to market valuation changes in the policyholder tax charge. Basic earnings per share of 0.4 pence (H1 2022: 9.8 pence).

-- Interim Dividend of 1.5 pence per share versus 1.2 pence per share for 2022, representing an increase of 25%.

[chrisdgb] 03/8/2023 21:14

Results next week…

[arthur_lame_stocks] 03/8/2023 19:19

I thought the main markets had recovered somewhat lately? I've been watching these for a while. I haven't checked but I think they may now be trading at a discount to NTAV or at about that with a huge pile of cash. What's put me off is I'm not sure I understand the balance sheet. It seems to look more like a bank's than a fund manager's.

[pugugly] 03/8/2023 11:35

Still trending down - 1 year low - How much further to fall before a scalpers bid? No possibly unlikely with falling markets and thus a decrease in AUM - even without any leavers.

[pugugly] 24/7/2023 12:06

More moving to ETF's So who needs an expensive discretionary wealth manager. With relatively static market share price more likely to trend down than up - imo

[chrisdgb] 24/7/2023 11:13

UK wealth management still consolidating, only a matter of time before a bid here....??

[its the oxman] 03/5/2023 14:28

5% yld meantime, v cheap.

[its the oxman] 03/5/2023 14:28

Yes just need interest rates to peak, fighting in Ukraine to stop, market levels to rally and a bid.

[jonnybig] 25/4/2023 14:31

Sound update. Good value here, under the radar imo.

[pugugly] 08/3/2023 14:34

1jat:- Market is r has moved from Wealth Managers to much lower cost Index trackers. Very very few managers have been able to beat the index and the skids seem to be under most fund mangers -

[1jat] 08/3/2023 14:09

OXMAN - you may do well buying at these levels…Quilter has been a poor investment for several years…and Old Mutual before it.

They now have a more focused business that judging by today’s results can still generate good profits….they are trading at an undemanding multiple and there is plenty of scope for upside…

The market as a whole seems to have gone a bit cool on Wealth Management. Going back a couple of years it was the golden child with plenty of growth and sticky fees. I suspect there is now a squeeze going on in the mid market. SJP and SDR seem to be ok at the top end, but the mass affluent providers may struggle a bit as the mid tier investors have to reduce new investment and prioritise.

[its the oxman] 08/3/2023 08:57

Pleasing results I guess since shares are up today. Any view from longer term holders?

[its the oxman] 07/3/2023 13:51

Bought a few sub 90p. Seems cheap. Not sure about buying too much though until there is some catalyst to get it going though.

[pugugly] 02/3/2023 15:12

Personal marker to watch list 2/3/23 90.66p /90.96p - Mkt Cap (m)1,615.6 = Possibly recovery stock?

but significant fall from last time I looked

140.3/140.45 20/4/22 poss re asset manger t/o watch and research


Date Broker Recomm. Old target price New target price Notes
13/04/2022 RBC Capital Maoutperform 175.00p 180.00p reiteration
13/04/2022 Barclays underweight - 120.00p reiteration
23/03/2022 Berenberg Bank hold - 162.00p reiteration
24/03/2022 RBC Capital Markets outperform 175.00p reiteration
10/03/2022 JP Morgan Cazoverweight 200.00p 190.00p reiteration

Fundamentals and health
Market capitalisation £2,299.92
Shares in issue 1,638.12
PE ratio 17.9
PEG ratio 1.2
EPS 5.10p
EPS growth 15
ROCE 5.65
Quick ratio n/a
Current ratio n/a
Total dividends per share 1.70p
Dividend yield 3
Dividend cover 1.87

Just goes to show brokers targets largely hot air assume all goes to plan and fingers crossed behind their bums.

[retsius] 24/2/2023 11:19

rise today?

[topvest] 20/2/2023 14:32

Purchased a few today. Looks better value than Rathbones plc (which I also hold). Both are merger or acquisition candidates I suspect.

[kalai1] 19/10/2022 11:42

Quilter plc issued a Q3 trading update this morning. Assets under Management and Administration were £96.9 billion at the end of September 2022, a decline of 2% from 30 June 2022, reflecting a challenging market backdrop over the summer with both bond and equity values declining. Net inflows were £0.2 billion in Q3. Steven Levin will succeed Paul Feeney as Chief Executive Officer on 1 November 2022. Valuation is improving given the ongoing bear market, but still relatively unattractive, forward PE ratio at 13.8x is bottom quartile for the IB&IS sector. The macro environment and tough market outlook are also obvious clouds to the investment case in the year ahead. QLT is a share to monitor for now...

...from WealthOracle

hxxps://wealthoracle.co.uk/detailed-result-full/QLT/592