Ig Share Discussion Threads

[woodhawk] 21/7/2023 10:50

FWIW:

Barclays cuts IG Group price target to 1,110 (1,210) pence - 'overweight'

..................

So just a 55% increase from here then!

[thorpematt] 20/7/2023 14:27

Yes, Mr Market like the US performance.

[maddox] 20/7/2023 13:13

So we have a miss against analyst consensus forecasts:

Total Rev........ -1.24%
Op Profit ........-9.14%
PBT ..............-8.26%
PAT ..............-8.27%
Basic EPS ........-7.75%

But we have a dividend increase 2.26% and a share buy-back of £250m (equivalent to 8.9% of market cap.)

Nevertheless, Mr Market appears pretty pleased in view of the difficult trading conditions and as I post shares are up 5.56% at 731p.

Positives appear a sharp rise in interest earned and US performance - that suggests that IGG's strategy is sound and well executed.

[alotto] 20/7/2023 13:09

Hunter thanks for your feedback. Can you elaborate on the cost issue?

[hunter154] 20/7/2023 12:49

Costs are out of control.

[alotto] 20/7/2023 11:27

How come the profits before tax didn't increase as much as I would expect after a 100 fold increase on interest earnings?
The contribution from the US market was up 50%. Yet therewasasloght decrease in PBT.

[lovewinshatelosses] 20/7/2023 10:14

Well, this client would prefer charity contributions to be made from pre-tax (and thus tax deductible) profits - but it is not a red line for me :)
I would also rather they sit on excess cash, rather than make any further acquisitions, unless they can secure a great price for a great opportunity.
Good enough strategy for AAPL and BRK. Good enough for us. Happy with the dividend at the current rate. Would be good if a buy limit could be set for the buy backs (eg as close to a floor price as possible, to maximise the value and volume of said shares etc), but I do not know if this is possible.
Also not sure if they could buy short term government bonds while the yields are quite good? If they can, this might be a good, safe home, for some of that cash left over as an alternative to just sitting in the bank account.
All in all, satisfactory enough to my mind and hopefully a gradual rise back into the mid-8's. I do not see 9's in the medium-term based on the latest update, but good enough for me. GLA.

[prokartace] 20/7/2023 09:47

lovewins, to be honest the charity thing is more to do with PR and advertising to make IG look good to clients

[1knocker] 20/7/2023 09:40

That is all quite reassuring. I was worried that the decline in the share price over so long a period might be an indication that the figures would be pretty poor, so it was with some trepidation that I topped up at 664 on the footing that provided the dividend was not reduced it was fairly cheap even if the figures were not great. The increased dividend on the increased holding will be welcome. Personally, I like to see cash go into the divi rather than share buy backs. I can live with both!

[lovewinshatelosses] 20/7/2023 08:24

EPS slightly down too - and I wish they would get rid of that after-tax charity hand out of 1% - let the individual employees and shareholders decide what to do with the money please!
Some cost cutting would be welcome, as I have alluded to previously. Not because I am worried - despite the negatives which Hunter, jimbo and I have cited, this is still a fairly good report card IMO - but because all businesses should be looking to be as lean and efficient as possible.
Anyway, it is a hold for me.

[woodhawk] 20/7/2023 08:23

Some idiots above seem to have missed the boat! LOL.

[tonytyke2] 20/7/2023 08:20

Good update, increased div, larger buyback, I'm topping up.

[hunter154] 20/7/2023 08:16

Poor numbers when NIM £80 m taken out.

Amazed that the auditors didn’t demand goodwill write down for Tasty acquisition…..we clearly overpaid.

I do not like the opaque management; given we spent near 1B to buy TT, they should break out the numbers. It was interesting to read in rns that salaries were up 26% and a contributor was that US salaries had currency headwinds. However, then, the reverse should be the case with trading revenues…..no mention of that or a constant currency comparison.

Another interesting piece of comedy gold was that the CFO wrote that “we are good capital allocators….”; not sure I concur.


Both the CEO and CFO should be replaced.

[jimbo123elf] 20/7/2023 07:51

£449.9 PBT. Thought it might be north of £500m. Miss for me.

[coxsmn] 20/7/2023 07:04

Strong US growthProposed an increased dividend of 45.2 pence (FY22: 44.2 pence) and a new, larger share buyback programme of GBP250 million.

[woodhawk] 19/7/2023 12:17

AdamB1978

Charles Schwab (NYSE stock)

[woodhawk] 19/7/2023 12:16

coxsmn: "For What It's Worth"

[lovewinshatelosses] 18/7/2023 17:37

Good update over the Pond for SCHW. Given our own valuation, against our UK competitors, let alone them, the next update should be very good.
Needless to say, it had better be. If it is, this should - should - be back into the 8's in a flash, and pushing on to test the 9's fairly soon afterwards also.
Fingers crossed and GLA.

[coxsmn] 17/7/2023 20:20

Whats fwiw

[woodhawk] 14/7/2023 12:44

That's why I prefaced it "FWIW".

[coxsmn] 14/7/2023 12:30

Meaningless in my opinion.

[woodhawk] 14/7/2023 11:19

FWIW

RBC cuts IG Group price target to 950 (1,000) pence - 'outperform'