M&g Share Discussion Threads

[muscletrade] 13/2/2024 12:22:54

Analysts at Goldman Sachs initiated coverage on investment manager M&G with a 'buy' rating and 240.0p target price on Tuesday, stating it had "attractive growth, capital returns, and valuation".

Goldman Sachs noted that M&G operates three main segments - Asset Management, M&G Wealth, and Heritage. It said these were interconnected and, in its view, provide "attractive synergies".

"M&G is an asset manager with a large balance sheet which allows the firm to seed assets and helps to drive inflows, while also generating sufficient capital to cover its dividend and deleverage over time," said the analysts.

GS also highlighted that M&G trades on a 10.3% one-year average next twelve-month dividend yield, higher than the UK life peer average of 8.9%.

"This discount is unjustified in our view given M&G’s diversified business mix, the quality of PruFund, leverage reduction and capital-light growth potential," said Goldman.

[1robbob] 06/2/2024 17:10:36

>>it's getting into overbought/valued territory
>>the rsi is looking more balanced now

How do you calculate the above?

[gbh2] 02/2/2024 08:05:52

Me Too, I also bought them back on the first, the difference left me with a bit of spending money for the Holidays :)

[adejuk] 01/2/2024 13:35:28

i agree helen and imo it's getting into overbought/valued territory
when i can see the horizon more clearly i will re-evaluate
the rsi is looking more balanced now

[helen troy] 01/2/2024 13:28:07

A lot of punters, including me!, wished to take sizeable gains. Imo the share price will struggle to move on until these punters are exhausted. Shouldn't take too long, and the results and 13.4p divi on the horizon. GLA

[adejuk] 01/2/2024 13:17:15

sold my 50k at 226.6
waiting for further falls
good luck all lth - incl me !

[jonnybig] 01/2/2024 08:21:35

Sold at 231p, bought back at 222p. Thanks Mr Market! 😁

[helen troy] 01/2/2024 08:14:14

Me too. But I've bought them back today.

[gbh2] 31/1/2024 15:18:47

Looks like a bit of profit taking, can't blame anyone seeing as I took a few quid :)

[skinny] 31/1/2024 11:16:27

Thanks 1jat - I had assumed (rightly or wrongly) that the platform was a major contributor to the losses.

We await something formal from the company.

[1jat] 31/1/2024 09:56:01

Skinny
What constitutes “wealth” in MNG is very different from other companies…..it includes revenues from all open products including the PruFunds business….personally I view that as part of the insurance business….strip that out and the wealth business makes considerable losses. (Aviva includes its corporate pensions auto-enrolment business which is a similarly dubious interpretation of wealth).

So for the diversified asset acquisition/managemnet groups like MNG, wealth is a management construct. It is likely the platform contributes most to the losses because it is sub-scale and has received significant investment to improve it…..they probably feel it cannot reach sufficient scale, and on a standalone basis will be loss making for some time…..
They may want to retain a platform for the advisor businesses to put their business onto, and that white labelling may be part of the sale transaction.

[skinny] 31/1/2024 07:19:37

.

"Citywire understands the sale process followed a strategic review of M&G’s wealth business, although it is only the platform which is going on the market. M&G Wealth, which includes a trio of advice networks and the adviser platform, recorded a £19m loss in the first half of 2023."

[helen troy] 30/1/2024 21:55:05

https://citywire.com/new-model-adviser/news/exclusive-m-and-g-puts-15-5bn-platform-up-for-sale/a2434978

[smurfy2001] 30/1/2024 18:48:31

Looking forward to the results and new highs.

[skinny] 30/1/2024 17:38:23

A bullish engulfing candle for those that follow such things.

[skinny] 30/1/2024 14:12:46

FWIW, the previous 2 years March XD dates :-

[rongetsrich] 30/1/2024 14:01:14

Yes, impressed. I raised my sell price to 240.3, and could be out pre XD the roll into AV. Or LGEN, with my profits topping up TFIF.Loads of ways to skin a cat, post post XD and divi it seems to be dead money for 4/5 months.

[skinny] 30/1/2024 13:41:15

Meanwhile, a 2+ year high earlier @229.30p

[rongetsrich] 30/1/2024 13:37:22

Correct Helen, it is the Xdividend that’s been discussed. We just have no date, unless you do?

[helen troy] 30/1/2024 09:18:53

It's the xdivi date that was discussed

[rongetsrich] 30/1/2024 08:56:02

Dividendmax have the divi being paid 25 April. They're not always that accurate, but even when wrong it's usually only by a small margin.

[1jat] 29/1/2024 15:20:32

Citywire is reporting that the M&G Wealth Platform (previously Ascentric purchased from Royal London form £86m in 2020) is on sale.

CJAC will be pleased they look like they are quitting a loss making business…..I assume they may still want a platform to distribute PruFunds to the wider market, so it may be more of a sale and leaseback type arrangement.

[tornado12] 26/1/2024 10:24:26

I have watched with interest the robust share price here for the last 6 months with interest. With the healthy last reporting update, I believe FY results will be very promising. The fundamentals appear good moving forward and there’s always the TO chatter that could restart at any time GLA

[helen troy] 25/1/2024 21:30:28

I stand corrected on the x divi date. Due to the later results, it is approx 2 weeks later. Apols.