Jarvis Securities Share Discussion Threads

[tenapen] 07/5/2019 19:50

I would also be gutted if Jarvis was taken out. Its the rock that gives me the confidence that if my stupid blue sky punts go bust (they normaly do) i will always have my largest holding and growing, JIM.

Another nice Dividend / DRIP

Weldone Jarvis.

[topvest] 07/5/2019 12:56

Yes, all looks good. What a great little company this is!

[nickk1] 07/5/2019 12:51

Extra 8.33% dividend over this time last year. Excellent well done JIM

[steelwatch] 07/5/2019 11:45

Nice 😉 2 days early.

[gsbmba99] 07/5/2019 00:05

I'm assuming II, as they are backed by JC Flowers, are looking to gobble up assets, fashion a marketing story and flip it onto the market looking for an AJ Bell type multiple (44x forecast 9/19 P/E). The market seems to reward scale since AJB, HL. and IHP all trading at premium valuations relative to NUC, SHRE and JIM. The company thinks low 450s is attractive to repurchase shares and II thinks SHRE (with a pitiful track record of producing profits) is attractive. Seems positive for valuation sentiment.

[steelwatch] 06/5/2019 20:22

Well, it is entirely down to the Grant family with their over 50% combined holding. Andrew Grant did reject an offer a few years back saying it totally undervalued JIM.

[shakester2] 06/5/2019 19:01

Do you not think ii are overextending themselves? Personally I would be gutted if they came sniffing round JIM.

[gsbmba99] 05/5/2019 20:00

Let's hope for some good news on the dividend front. Also relevant is the announcement from Share on Friday that they had received an approach from Interactive Investor who appear to be pursuing a buy and build approach.

[steelwatch] 03/5/2019 12:47

Speaking of which:

Q2 2019
Latest Announcement Date: 9 May 2019
Ex Date: 16 May 2019
Record Date: 17 May 2019
Last Date for DRIP Elections: 23 May 2019, 3:00pm
Payment Date: 6 June 2019

[steelwatch] 01/4/2019 16:39

monty - I take cash and it arrives same day into my Jarvis a/c. The DRIP does take longer.

[montyhedge] 01/4/2019 14:42

The thing thats annoys me about Jarvis very slow to allocate dividends, other brokers in account due day, Jarvis two days later.

[steelwatch] 29/3/2019 07:18

Great timing! 😃

[lomax99] 28/3/2019 13:07

Here it is, from IC article dated 18/3:

Jarvis Securities delivers bumper second half

I turned buyer of Aim-traded shares in Jarvis Securities (JIM:510p), a financial services outsourcer and retail client stockbroker, at 460p last summer since when the board has paid out dividends of 19.5p a share (‘Jarvis offers medium-term value’, 15 August 2018). I suggested buying the shares last at 490p ahead of the annual results, having noted that the board raised the payout to a record high of 24.5p a share for the 2018 financial year (‘Take note at Jarvis’ dividend hikes’, 6 February 2019). It was a sure fire signal that the business had recovered strongly in the second half of 2018 after restructuring its commercial fee tariffs to take into account the additional costs incurred as a consequence of implementing the new Markets in Financial Instruments Directive (Mifid II).

Despite incurring the first half shortfall, annual pre-tax profits of £4.3m and EPS of 31.8p on revenues up 6.6 per cent to £10m almost matched the record performance in 2017. Moreover, chairman Andrew Grant painted a positive outlook picture, noting that 2019 will benefit from the fee tariff changes implemented in June 2018 as well as the additional services its corporate clients are taking as a result of new regulations. Indeed, fee revenues increased by half to £2.2m last year.

Jarvis has two business units: a corporate division, which provides outsourced and partnered financial administration services to a number of third-party organisations and has cash under administration in excess of £150m, all of which is placed on short-term deposit with triple-A-rated banks; and a broking operation that has more than 100,000 retail clients who use its ShareDeal-Active and X-O low-cost online share trading services.

Mr Grant also noted that Jarvis “continues to receive enquiries from potential commercial clients attracted by our competitively priced service”, adding that “our retail client numbers are also increasing, which in turn improve both the balance of cash under administration and interest income earned”. Interest earned from treasury and cash deposits rose from £3.8m to £4m in 2018. Jarvis’ free cash pile of £4.6m equates to 42p a share, thus offering ample capital to grow the business organically.

So, offering a 5 per cent prospective dividend yield, and trading on a PE ratio of 15 based on WH Ireland’s 2019 EPS estimate of 34.2p, I continue to rate the shares a buy.]

[steelwatch] 28/3/2019 12:56

gsb - unfortunately, the article is now behind the pay wall, so can't refresh my memory of it. My view is that I will try to take advantage of any price weakness to top up as and when funds permit. Bought a miserly 54 shares this morning on the drop.

[gsbmba99] 19/3/2019 14:53

Nick or stetelwatch, is there a key takeaway or snippet you can share from the article for non-subscribers?

[steelwatch] 14/3/2019 12:23

"The signs are that the business has adapted well to new regulation last year and with no new major directives seen in CY19E, should be well placed to benefit from its strong market position; while in the event of interest rate rises, it would be a significant beneficiary. New forecasts are in place for FY2020E. With Q1 DPS up 20%, the prospects for a strong FY DPS pay-out remain excellent and well aligned to the company’s long-standing commitment to rewarding shareholders. All in all, we see both the results and prospects as encouraging and continue to see upside for the shares"

WHI

[tenapen] 14/3/2019 11:15

:-)

Good to be wrong again.

[gsbmba99] 14/3/2019 10:05

Commentary from Jeremy Grime ( ): "This company is small and illiquid with a large family shareholder. However I have a huge respect for this tightly run business which consistently achieves above 50% ROE. It is going through some road bumps but if it can grow would be one of those highly rated platforms."

[gsbmba99] 14/3/2019 09:15

There's a WHI note out. No change to 19E forecast though sounds as if a little bit of upward pressure - "we are retaining our FY2019E forecasts unchanged for the present". Newly introduced 20E forecast: Rev - £10.6m, PBT - £4.8m, EPS - 35.2p and DPS - 26.8p. "Underlying net cash (excluding cash held for settlement purposes) is up on the year at £5.9m (+12%)." "We note the significant increase in the fee revenue line, from £1.5m to £2.2m (+50.2%), which we read as the fruits of proactive actions in ‘18A, and also the healthy (+7.2%) increase in interest on broking accounts." "The signs are that the business has adapted well to new regulation last year and with no new major directives seen in CY19E, should be well placed to benefit from its strong market position; while in the event of interest rate rises, it would be a significant beneficiary."

[nickk1] 14/3/2019 07:17

Excellent. Back on track with the benefits of increased client numbers, both private and commercial and the increase in commercial customer fees now flowing through.
Well done JIM

[tenapen] 14/3/2019 07:11

A first fall in profits for ..... !

Looking at the other companies in the sector who have reported, I guess it was to be expected in these tough times.

Regards.

[melton john] 13/3/2019 10:14

I haven't looked for a couple of days but drip shares in now.

[tenapen] 07/3/2019 07:31

Dh'o

Cheers John,

I'll get the hang of it one day !


:-)