Hargreaves Lansdown Share Discussion Threads

[lomax99] 06/3/2019 05:32

Train hails Hargreaves' 'explosive' potential after doubling stake14/2/19Https://citywire.co.uk/funds-insider/news/train-hails-hargreaves-explosive-potential-after-doubling-stake/a1201002Star fund manager Nick Train has hailed Hargreaves Lansdown's (HRGV) potential for 'explosive growth' a week after his Lindsell Train fund group revealed it had doubled its stake in the online stockbroker.In an update to investors in his Lindsell Train UK Equity fund and Finsbury Growth & Income (FGT) investment trust, Citywire AA-rated Train noted the stock had been one of the biggest detractors to his performance in January.'Yet, to our mind, you don't have to work too hard to see the bright side,' he added. 'It is undeniable that growth slowed at Hargreaves Lansdown [in late 2018], during a very tricky time for UK politics and global stock markets.'Nonetheless the business did grow and, importantly, took share – now representing 39% of the direct to consumer platform market and nearly 32% share of the stock broking market.'When confidence and volumes recover we'd expect Hargreaves Lansdown to deliver explosive growth.'Shares in Hargreaves have tumbled more than a fifth from a record high of £22.62 last autumn to a recent £16.56, although even after that rerating it remains priced at an aggressive growth premium of 33.5 times last year's earnings, versus an investment management and fund peer average of 12.The shares tumbled in October after it warned that equity volatility was driving an 'industry wide slowdown' in net retail flows.Investors have fretted about the security of Hargreaves Lansdown's imperial pre-tax profit margins which, while they remain extraordinarily high on a pre-tax measure of 65% in late 2019, have dropped from a recent peak above 70% in late 2017.Even in the highly cash generative world of asset management, the company still manages to bank around twice the level of revenues of its peer group.Train, however, pointed out that the company's willingness to freely spend that cash to stay abreast of the competition was a core selling point for him. 'Hargreaves has and continues to invest heavily in its client service,' he wrote.'We liked some of the two year statistics the company shared. Over that period the number of clients is up 30% to 1.1 million; transactions on the site have climbed from 5.4 million to 6.1 million per annum. The number of calls to the help desk has increased from 680,000 to 890,000 per annum, while – and I love this statistic – the time taken to answer a client call has fallen from 30 to 18 seconds.'Train is a long-term backer of Hargreaves Lansdown. His conviction puts him at odds with City consensus, which in recent months has fallen to the most bearish point seen in many years, with Barclays the sole house holding it on a 'buy', on a £20.14 target versus the median £17.05. Lindsell Train has now leapfrogged BlackRock and Baillie Gifford to become the biggest holder after founders Peter Hargreaves and Stephen Lansdown.The overwhelming bulk of the company's stake is held via Train's £5.4 billion UK Equity fund, which owns 5.1% of the Hargreaves Lansdown market cap. The £1.3 billion trust owns a comparatively modest 1.3%, while the stock is a relative newcomer to the £5.7 billion Lindsell Train Global Equity fund. Citywire AAA-rated Michael Lindsell, who runs the global fund with Train and James Bullock, said in his latest update to investors that the stock now accounted for more than 2.5% of the portfolio after buying during the sell-off.He hailed the online stockbroker's new cash savings service. 'Its new product, Active Savings, which offers highly competitive cash deposit rates from a selection of challenger banks, is in the foothills of a significant and differentiated growth opportunity for the company,' he said.

[lomax99] 06/3/2019 05:20

Hargreaves Lansdown eats up market share. 1/3/19Https://citywire.co.uk/funds-insider/news/the-expert-view-hargreaves-lansdown-rolls-royce-and-rsa/a1205336#i=2Numis has highlighted Hargreaves Lansdown's (HRGV) continued seizing of market share, up to 41.4% according to figures from consultancy The Platform.Analyst James Hamilton, who rates the shares a 'hold' on a £17 target price, said he expected more to come. The shares rose 14p to £17.14.'We believe Hargreaves Lansdown is a structural growth story which it has been ever since initial public offering and should remain, possibly for decades to come,' he said.'Key for us is that of the Hargreaves Lansdown estimate of the £2.4 trillion addressable market of UK savings Hargreaves Lansdown currently has about 3% which means we believe Hargreaves Lansdown has the potential to continue to grow rapidly for decades.'The group supports a justifiable premium valuation to the market being valued at 33.6 times this year's earnings.'

[ochs] 05/3/2019 12:26

Yes, seems I spoke too soon... but still a good rise from sub £17 recently.

[thamestrader] 05/3/2019 11:52

Yep, very nice, despite today’s pullback.

[ochs] 05/3/2019 11:43

According to the bottom left of the HL website screen for HL shares it was 14 Feb. p.s. nice share price rise over the past few days.

[lomax99] 05/3/2019 11:42

They went ex-dividend on 14/2/19.

[thamestrader] 05/3/2019 11:31

I see we have a divi due on 11/3, can anyone please tell me when they went XD? For some reason XD dates are not listed on their financial calendar, and I was just wondering if I'm going to get it or not. Thanks in advance.

[cottlet] 17/2/2019 20:24

Having been treated by Barclays with sheer contempt last year,having had my investments locked up from August to December, following their disastrous transfer of 600,000 accounts to Smart Investor which led to many leaving Barclays, of which I was one, HL is a dream broker. I know of one investor who had £1m + in his ISA account and had to leave it with Barclays as nervous to move that amount of money. In contrast I have not found any faults with HL so far. I topped up on HL during last week.

[mozy123] 15/2/2019 14:42

Liked Trains write up in the FGT monthly fact sheet. Agree with him. Where did I put my cheque book...

[ochs] 06/2/2019 15:40

Big vote of confidence from Lindsell Train (already a long term holder) who it's just been announced increased their stake significantly from 5% to just over 10% on 29 January (interim results day). Good news for me is that I was able to read the announcement on the HL site (see my earlier posts!) and I topped up myself last week at well under £17.

[thamestrader] 01/2/2019 08:41

My only gripe with HL is the way they handle cash. The statements are poor (no 'balance' column), and the way 'capital' and 'income' are shown in separate ledgers, does my head in. This is unnecessarily complicated and benefits me not one bit. Any idea why they do this? Neither of my other brokers feel the need to do this.

[lomax99] 31/1/2019 20:42

Good to see HL add an easy/instant access option to their Active Savings service today.

[radioactive_man] 30/1/2019 22:43

Being a HL user I am familiar with this issue and have ignored it up till now as I don't use it for research purposes. The information is simply not updated enough or in depth enough to be useful. If they improved this service or simply bought stockopedia and used their research tools then HL could be a world beater.Unfortunately I am questioning my holding as I'm looking at other companies in which I have higher conviction. Hopefully AJ Bell will make HL be a bit more proactive in improving its service.

[ochs] 30/1/2019 18:12

Going back to the HL website RNS issue; first thing this morning I provided HL with similar details to my earlier post, and by 1pm this afternoon every stock was back to showing RNS correctly, whether I'm logged in or not. However I've just checked again and it's now not working... so rather unreliable and intermittent it seems! Not what a serious share trader needs. Salty - do you have an account with AJB and HL? - ie. does that allow you to compare directly? Thanks

[saltaire111] 30/1/2019 17:24

Come over to AJ Bell. You’ll all be welcomed with open arms... Better customer service, more competitive pricing and people who actually care about their customers. Salty

[porsche1945] 30/1/2019 09:46

i wonder how much credibility HL has lost plugging Woodford endlessly for fees while ignoring much better stuff they cant earn out of. Cxxp customer service and back office drones at HL, staff total morons, starting to look like they are getting “ found out “. Much better brokers out there.

[balancedbob] 30/1/2019 09:38

I use watchlists to follow my portfolios (It means I do not need to log in every time I want to see where I am and I can add stocks I own on other platforms to see all together) Whether I am logged in or out I can never see this years RNS's via the watchlist overview or when drilling down on the detail. However if I am logged in and access my HL stocks via my account and go in via the blue graph icon then I can see them...

[ochs] 29/1/2019 17:45

Hello again. I think I may have pinpointed the issue now. If I log into my account and view a stock I own (eg HL plc) I can view their recent RNS under "Company Announcements" (including today's half yearly statement), so long as I access the factsheet page by clicking on the blue graph to the right of the stock when listed in my account. However if I try and view a stock I don't own (whilst still logged in) I am unable to view any RNS since 3 December (I used Next plc as an example as I know there was a trading statement in early January). If I then log out I am back to where I was before and the most recent HL RNS displayed is back to 15 November, plus I can't view any recent RNS for other stocks. Be great if a couple of you could experiment with this too. Thanks in advance.

[saltaire111] 29/1/2019 16:44

Ouch. Salty

[ochs] 29/1/2019 14:54

Good work, I got a very similar fairly standard response... I think it's a pretty serious thing for a broker with 31.9% of the execution only market to not be reliably displaying RNS's. I'm not sure how seriously they are taking it at present... I know they get their data from a 3rd party, so it may be down to them, but either way it should be sorted out as a priority.

[balancedbob] 29/1/2019 13:54

Dear xxxxxxx Thank you for your email. I'm sorry to hear the information you're viewing on the 'Company news' and 'Company announcements' tabs of our website is out of date. We're aware of an issue whereby even though the information is up-to-date on the website, some of our clients aren't able to view the latest entries. This has been raised with our IT team to investigate. Whilst I can't provide an exact timeframe, we are now working to resolve this as soon as possible. Please accept our apologies for any inconvenience this matter has caused and thank you for your patience while we work to resolve this issue.

[balancedbob] 29/1/2019 11:02

I agree Ochs. I can not see any news or announcements for any company on HL for this year. How ironic we can not see on HL share service, what is causing the HL 5% drop today.

[ochs] 29/1/2019 10:26

Yep, noticed that, thanks. Would you mind checking if you can access the results statement on the HL site via the "Company Announcements" tab when viewing the HL share price? I can't (on Chrome or Explorer) but I gather some people can, so I'm not sure what the problem is.

[lomax99] 29/1/2019 09:51

The Interim results, analyst presentation and data pack were here: Https://www.hl.co.uk/investor-relations before market open this morning.

[ochs] 29/1/2019 09:23

So as per my comment above in order to read the HL half year results statement you must use ADVFN rather than their own website ;)