Investec Share Discussion Threads

[its the oxman] 04/7/2014 12:49

Back in May CEO said lots of interest had been shown in Kensington and were now in second phase of discussions to sell the business, with hope of an announcement late June or in July. So fingers crossed we hear something very soon. Importantly the markets have remained robust - although property stocks have been weaker - hopefully that will help them achieve at least a reasonable exit price.

[bamboo2] 02/7/2014 15:49

Presume this is dragging on share price

[bbc]Engineering and metal workers in South Africa have gone on strike after talks on Monday failed to reach an agreement over pay.

The country's largest union, the National Union of Metalworkers of South Africa (NUMSA), claims that more than 200,000 members are striking.

The union is demanding a 12% wage increase, almost double the rate of inflation.

So far employers have offered an 8% pay rise.

[bamboo2] 01/7/2014 12:01

INVESTEC increased CEO Stephen Koseff's bonus 31% after earnings rose in the fiscal year through March.

Mr Koseff, 62, received a bonus of £1.97m, 80% of which was deferred to the following three years, compared with £1.5m a year earlier, according to the Johannesburg-and London-based company's annual report published yesterday. His salary and benefits were unchanged at £450,000.

Mr Koseff exceeded the company's threshold for return on risk-weighted assets, return on equity and Tier 1 capital-adequacy ratios, the annual report showed. His bonus also included £330,000 for his performance on non-financial metrics that ranged from culture and values to governance and employee development, the bank said.

Full-year adjusted earnings per share rose 5.3% to £0.38, beating analyst estimates, as bad debts fell, the financial services group said on May 22.

Net income increased 7% to £331.7m. Investec has climbed 22% in London trading this year.

[bamboo2] 25/6/2014 07:49

End of platinum strike could help SA GDP and improve currency leading to a lift in the share price

"Union leaders have signed a wage deal with South Africa's biggest platinum mining companies, ending the nation's longest-running strike.

The Association of Mineworkers and Construction Union (AMCU) has agreed deals with Lonmin, Impala Platinum and Anglo American Platinum.

As a result workers' salaries will increase to 12,500 rand (£706.40) a month by 2017.

The AMCU's striking members will return to work on Wednesday."

[bamboo2] 15/6/2014 10:18

hxxp://www.watchlistnews.com/investec-plc-receives-consensus-rating-of-buy-from-brokerages-loninvp/41657/


Investec plc (LON:INVP) has earned an average recommendation of "Buy" from the eight ratings firms that are covering the stock, American Banking and Market News reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is GBX 529.41 ($8.90).

INVP has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a "buy" rating on shares of Investec plc in a research note on Friday, May 23rd. They now have a GBX 555 ($9.33) price target on the stock. Separately, analysts at Canaccord Genuity reiterated a "buy" rating on shares of Investec plc in a research note on Thursday, May 22nd. They now have a GBX 550 ($9.25) price target on the stock. Finally, analysts at Numis Securities Ltd reiterated an "add" rating on shares of Investec plc in a research note on Thursday, May 22nd. They now have a GBX 512 ($8.61) price target on the stock.

Shares of Investec plc (LON:INVP) opened at 533.00 on Thursday. Investec plc has a 52-week low of GBX 366.20 and a 52-week high of GBX 538.00. The stock has a 50-day moving average of GBX 520. and a 200-day moving average of GBX 460.8. The company's market cap is £4.614 billion.

The company also recently declared a dividend, which is scheduled for Friday, August 15th. Shareholders of record on Wednesday, July 30th will be given a dividend of GBX 11 ($0.18) per share. This represents a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, July 30th.

Investec plc is an international, specialist bank and asset manager that provides a diverse range of financial products and services to a select client base.

[bamboo2] 15/6/2014 09:54

Have management have added the Irish, Start Mortgages into the Kensington sale? If so, this looks like a well timed move out of sub-prime mortgage lending. It could also explain the amount of time taken to agree a deal for Kensington.

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Subprime lender Start Mortgages has been put up for sale, in a move that could see thousands of mortgage-holders lose vital consumer protections. The lender has some of the highest arrears levels in the State, as it gave mortgages to people during the housing boom who could not get approval from mainstream banks. Now the company has admitted to the Irish Independent that it has initiated a sales process – saying it has "decided to explore the possibility of a potential sale of Start Mortgages. Its sale would represent the second large disposal of a troubled mortgage book following the controversial sale of three tranches of the IBRC mortgage book earlier this year. Start Mortgage holders are currently covered by the Central Bank's code of conduct on mortgage arrears. This is a legally enforceable rule-book that sets out how people are to be treated when they genuinely can't repay their mortgage.Start's customers could lose these protections if the mortgage book is sold to an unregulated fund from outside the State. However, the buyers of the IBRC mortgages have volunteered to abide by the mortgage arrears code. And any buyers may also be more likely to do a deal with troubled mortgage holders to write off some of their debt so they can get their repayments back on track. This is because they are likely to acquire the mortgage book at a big discount. Pepper Mortgages, which bought the mortgage book of GE Money and manages mortgages for a number of now-departed lenders, offers write-offs to "right-size" mortgages down to levels where customers can now meet the repayments. A spokesman for Start said the sales process was an an early stage, and there was no certainty it would end up being sold. The Irish lender is owned by British subprime lender Kensington, which is in turn owned by South African bank Investec. One of the most controversial mortgage providers in the country, Start Mortgage features heavily in court repossession cases. Interest rates as high as 8pc are charged as it took on some of the most high-risk cases during the property boom, but the lender said the average was less than 5pc.Many of its borrowers have impaired credit records. They have typically consolidated other loans, such as credit card and car loans, into the new mortgage they took out from Start. A spokesman for the company would not say how high its arrears are, but mortgages it has bundled together and sold on to investors have arrears levels of up to 45pc.Asked if the mortgage protection code would apply if Start is sold, a spokesman said: "The current practice of those non-Irish-regulated entities buying mortgage loan books is to agree to abide by the code of conduct on mortgage arrears, so it's likely that potential purchasers may follow suit. "It's in the best interest for potential purchasers to abide by it, so we believe that they are likely to do so. "The lender says it offers a full range of solutions for those unable to meet their repayments.

- See more at: hxxp://www.independent.ie/irish-news/news/mortgageholders-may-lose-protection-as-start-plans-sale-30353747.html#sthash.SbBf6nmU.dpuf

[bamboo2] 12/6/2014 08:56

Hi Oxman, not obligatory to use this thread, but since you've found your way here...

...I have started the thread to make it easier for us to follow the share price progress on the chart as we make our way to 700. Timewise I am hoping for Jan 2015, but this could take until next May.

[its the oxman] 11/6/2014 13:50

Invp staying relatively strong 531p as many others pull back?

[its the oxman] 11/6/2014 13:49

Invp staying fairly strong 531p as many other stocks pull back ?

[bamboo2] 11/6/2014 07:35

Chart copied from post 172 on old INVP thread.
Shows inv h&s. target about 700.

[bamboo2] 09/6/2014 19:49

Norges Bank holding now over 4% at 24,505,158 [ 4.03% ]
Norway SW fund

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Thread with charts in header,

[bamboo2] 04/6/2014 06:53

More drag from the ZAR.
Is this solely because invp report in GBP/JSE listing?

[bamboo2] 27/5/2014 23:50

Thanks OX.

Cut and pasted this from the results day vid,

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"Kensington targeted by big US investor duo

Mortgage Solutions | 22 May 2014 | 13:42

Vicky Hartley

Two private equity groups have reportedly teamed up to mount a bid for Kensington, the Investec-owned specialist mortgage lender.

According to Sky news, US firms Blackstone and TPG will table a combined offer for the business ahead of a deadline towards the end of May.

The buyout giants are understood to be competing against at least three other bidders for Kensington, one of which is said to be Lonestar, a specialist US property investor and other names were previously thought to include Virgin Money and Goldman Sachs."

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Looks like the bad gdp figs from SA have dragged on the Rand/sp today.

[its the oxman] 25/5/2014 19:15

For what it's worth a few brokers have reiterated 550p targets.

[bamboo2] 23/5/2014 12:00

A quick intraday test of the 500, then we're off again. A bit disappointing, but probably quite healthy, from the charts' perspective.

Yes the figures look good. I guess if we start to see a lift in the Rand, that will help too.

Like the divi raise, will hold.

[its the oxman] 22/5/2014 08:15

Figures look ok to me. Nice to see div increase at last which suggests to me management are confident things are now set to continue improving. Still awaiting the sale of Kensington which is getting strong interest.

[bamboo2] 20/5/2014 22:41

Ox, Approx 5m shares changed hands late in the day as NT's, at a bit of a premium.

Will be interesting to see the figs.

[its the oxman] 19/5/2014 23:37

Would love to see that head and shoulders play out and push us up around the 800p mark. Personally I think a number of the quality financials are still coming from a low base. And no not into agriculture. Cheers.

[bamboo2] 15/5/2014 22:46

down nearly 3%.