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ICP Intermediate Capital Group Plc

2,054.00
-6.00 (-0.29%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Intermediate Capital Group Plc LSE:ICP London Ordinary Share GB00BYT1DJ19 ORD 26 1/4P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -6.00 -0.29% 2,054.00 2,051.00 2,052.00 2,089.00 2,050.00 2,071.00 464,680 16:35:11
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Security Brokers & Dealers 737.1M 280.6M 0.9801 20.93 5.87B
Intermediate Capital Group Plc is listed in the Security Brokers & Dealers sector of the London Stock Exchange with ticker ICP. The last closing price for Intermediate Capital was 2,060p. Over the last year, Intermediate Capital shares have traded in a share price range of 1,152.00p to 2,109.00p.

Intermediate Capital currently has 286,293,727 shares in issue. The market capitalisation of Intermediate Capital is £5.87 billion. Intermediate Capital has a price to earnings ratio (PE ratio) of 20.93.

Intermediate Capital Share Discussion Threads

Showing 551 to 572 of 975 messages
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DateSubjectAuthorDiscuss
11/11/2014
16:47
3. The company seems to be/have been going through a change of business from a provider of Mezzanine and debt to a VC type investor. Why change a business which has been successful for 20 years chasing what they obviously consider easier money?

Surely more towards an asset management company plus Mezzanine and PE? I don't understand the full inside story on all the reasons for this but Mithras, an IT that was originally in the same area - Mezzanine finance, changed around the same time becoming a fund of funds PE investor. It is now gradually winding up and returning cash to investors. So, either City fashion, or the business environment changed. Or both.

I do wonder how much these things are a matter of fashion. Dunedin Enterprise, another IT - not into Mezzanine, but VC funding - also changed over the same time frame into a FoF PE vehicle. More recently it has been changing back into it's original format.

It all helps pay for some peoples salaries, I guess!

pvb
18/9/2014
09:08
A few things concern me about this share.

1. Although the company made a PBT of £137m, £125m of it was just a transfer from reserves i.e. it was an accounting entry to recognise the crystallisation of gains taken to reserves in past years. In terms of actual 'value' created by the company in the year, it was relatively little.

2. How much of the share price support is being generated by the share buyback. When that ends what will happen to the price?

3. The company seems to be/have been going through a change of business from a provider of Mezzanine and debt to a VC type investor. Why change a business which has been successful for 20 years chasing what they obviously consider easier money?

stemis
07/8/2014
16:46
Looks like it is but I am left wondering if we have yet to see the bottom? I have a decent cash pile to invest and I have my eye on a number of stocks, ICP included. I maintain that we'll see a big bounce before the end of the year but there's a number of headwinds to clear first and perhaps the best option is to drip feed the money in over say, the next six months. That way I hope to secure an average price that I'm happy with.
hyden
06/8/2014
13:02
Market giving us another chance to top up?
its the oxman
23/7/2014
19:15
Decent update, but plenty of competition for deals. Hope they are maintaining discipline.
18bt
23/7/2014
11:58
Didn't get in at 370 but I've topped up this morning following the reassuring statement. Nothing to worry about here.
hyden
23/7/2014
11:31
Price recovery long overdue and the update should help greatly. Wish I'd got more recently at 370p.
Still the yield is an on-going comfort.

deadly
23/7/2014
11:08
Market likes todays update. Might improve sentiment going forward.
its the oxman
17/7/2014
07:35
Fitch Affirms Intermediate Capital Group at 'BBB-'; Outlook Stable


The following statement was released by the rating agency) LONDON, July 16 (Fitch) Fitch Ratings has today affirmed Intermediate Capital Group plc's Long-term Issuer Default Rating (IDR) at 'BBB-'.

The Outlook is Stable. KEY RATING DRIVERS ICG's IDR is driven by its strong leveraged finance franchise and developing investment and asset management franchise. The investment-grade IDR is supported by healthy, albeit potentially volatile, profitability and by Fitch's expectation that leverage will be contained at a low level. The rating also considers ICG's increased focus on third-party fund management and the higher quality stable revenues derived from this business. The rating also reflects the asset portfolio's inherent risk profile, ICG's reliance on wholesale funding and dependence on wider market performance. Despite exposure to a portfolio of leveraged assets, Fitch expects that provisions will remain close to the historical average of 2.5% of total portfolio size, helped by adequate provisioning on pre-crisis investments and by the fact that post-crisis investments have generally displayed stronger performance.

In the longer-term, Fitch believes that tighter underwriting and ICG's revised strategy of focusing on smaller and less balance-sheet-intensive investment should support a lower sustainable level of impairment charges. RATING SENSITIVITIES The ratings may be downgraded if ICG's leverage, defined as net debt adjusted for CLOs/ tangible equity, exceeds 1x (end-March 2014: 0.3x) on a sustained basis, if it reports a material fall in fund management fees or suffers from weak performance in its asset portfolio, as reflected, for example, in portfolio companies' heightened provisions and refinancing challenges. Upside rating potential is currently limited but the rating would benefit from a further rebalancing of the earnings profile towards stable fund management company fee income and evidence of a related reduction in balance sheet risk. Fitch would also view positively continued evidence of its ability to raise funding across an increasingly diversified product suite, together with a prudent approach towards co-investments and strong performance of its asset portfolio. The latter would be reflected by prudent leverage, limited impairments and successful refinancing of the entities in which ICG has invested

mirandaj
15/7/2014
17:42
Is something afoot? Big rise today. Very cheap though.
its the oxman
12/7/2014
07:58
Well it never resumed buying the shares and no support.Maybe I should go to the AGM and ask why .


Intermediate Capital Group plc logoHSBC reissued their overweight rating on shares of Intermediate Capital Group plc (LON:ICP) in a research report released on Thursday morning. HSBC currently has a GBX 440 ($7.55) price objective on the stock.

Several other analysts have also recently commented on the stock. Analysts at Oriel Securities Ltd reiterated a buy rating on shares of Intermediate Capital Group plc in a research note on Thursday, June 26th. They now have a GBX 480 ($8.23) price target on the stock. Finally, analysts at Canaccord Genuity reiterated a buy rating on shares of Intermediate Capital Group plc in a research note on Tuesday, June 10th. They now have a GBX 510 ($8.75) price target on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of GBX 463.70 ($7.95).

Shares of Intermediate Capital Group plc (LON:ICP) traded down 0.53% on Thursday, hitting GBX 372.70

lab305
08/7/2014
12:46
Just bought another 7k shares of these although it shows up as a sell on ADVFN. Miles too cheap at this price. The company should resume it's share purchase programme today and put a floor under the stock. We will see !
lab305
25/6/2014
10:38
AGM is on 23rd July.
mirandaj
25/6/2014
09:35
Interim management statement mid July I think. Meantime ICP is continuing its buy back on the cheap.
its the oxman
20/6/2014
17:00
They have a very good record throughout the recession. Current discount appears a tad harsh for such a quality business.
topvest
20/6/2014
14:01
Agree, relying on yield support at this price rather than the chart
its the oxman
20/6/2014
13:41
No real support immediately below if it doesn't regain 400p support. Seeing as next ex-div isn't until Jan 2015, I'd prefer to wait a while to see how things pan out.
speedsgh
20/6/2014
13:30
Topped up today 390p. Hoping most of the disappointment is in the price at this level. Pessimism seems very overdone.
its the oxman
19/6/2014
10:26
Quite a few share buybacks going on here over the last week or so.
pvb
12/6/2014
11:24
pvb you are too cautious. They have put a share buyback scheme in place for up to £100m as the shares are far too cheap and they can save money by buying the shares up rather than paying 5% on them. So far they have only spent about £4.5m so plenty more to go. Around £4.80 would be a fair price not £4, and in the extremely low interest environment we are in the stock looks even more attractive. Profits are up and prospects look good for the future.

Full year results: Despite reported progress at the specialist asset manager, the share price retreated in early morning UK stockmarket trading, falling by over 3%. The Chief Executive noted that "Intermediate Capital Group (ICG) has delivered a good set of results, with steady overall growth in group profits up 11% and a strong increase in third party Assets Under Management (AUM) at a time when assets have exited our portfolios at a record rate due to favourable market conditions. We continue to fund raise well and develop new opportunities for investors in line with our strategy to develop our third party fund management business." Profit at its Investment Company rose to £140.1 million compared to £107.9 million in the prior year, whilst profit generated by the Fund Management business declined to £35 million (£40.4 million).

The Chief Executive went on to note that "in light of ICG's strong financial discipline and balance sheet we are increasing our dividend by 5% for this year and announcing a share buyback programme of up to £100 million as we seek to balance returns to shareholders and further investment in growing our fund management capabilities." Consensus analyst opinion currently points towards a buy

lab305
11/6/2014
13:14
Be careful! I don't think I shall be buying more - but then I have loads already. ;-)

They are inevitably highly geared. If the market 'corrects' these will nosedive, less chance of floating off holdings and AUM in funds will decline.

pvb
11/6/2014
07:54
Bought a load of these this morning. Buys far outpacing sells yet the price falls to this unrealistic level. Must be a large seller and will probably appear at the close. Take the opportunity whilst you can. Buy.
lab305
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