Share Name Share Symbol Market Type Share ISIN Share Description
Old Mutual LSE:OML London Ordinary Share GB00B77J0862 ORD 11 3/7P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 210.90p 0 00:00:00
Bid Price Offer Price High Price Low Price Open Price
211.10p 211.30p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 4,225.00 617.00 19.30 10.9 10,422.8

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Date Time Title Posts
22/6/201815:25Old Mutual Plc129
15/2/201812:37Old Mutual - The Recovery Has Started !474
23/11/200822:59old mutual 200624
14/11/200515:36The Old Mutual Thread202

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r ball: It's annoying how the share price on larger companies moves. Yes we were all aware of the reorganisation but what we were not aware of was the potential interest in the divisions being g sold.I guess a Bloomberg terminal would have given investors the relevant news and rumours but can this justify the minimum £10,000 per year cost.Ho hum
pemchong: What is going on with the share price? 185.10 now
chinese investor: The FTSE-100 financial services group Old Mutual is plotting an audacious £9bn break-up which could spark a takeover battle for some of the City's most prominent wealth management operations. Sky News can reveal that the Anglo-South African giant is working on a plan to split itself into standalone companies comprising its stake in Nedbank, one of South Africa's biggest lenders; its wealth unit, which is focused on the UK; its emerging markets operation based in South Africa; and its institutional asset management business, which includes its remaining stake in the US-listed division. Two buyout firms - Cinven and Warburg Pincus - are already said to have tabled a multibillion pound joint cash offer for Old Mutual Wealth, which includes names such as Quilter Cheviot and Old Mutual Global Investors, one of the most powerful investors in the UK stock market. Details of the break-up plan could be outlined to the City as soon as next Friday, when Old Mutual is due to announce its annual results. Insiders cautioned, however, that the plan has yet to be finalised and is likely to take many months to complete. If they come to fruition, the proposals would carve up one of the best-known names in London's blue-chip share index and divide the ownership of businesses which manage roughly £320bn of assets. Old Mutual, which recently agreed a deal to sponsor some of England's rugby union international matches, was established in Cape Town in 1845, but has endured speculation for many years about the logic of its corporate structure. In 2014, it listed its US-based asset management arm, OM Asset Management, which counts a string of boutique fund managers among its affiliates. It also came close to selling Nedbank to HSBC in 2010 but the deal was called off at the 11th hour. Bruce Hemphill, Old Mutual's group chief executive, is understood to have instructed advisers to begin work on the break-up shortly after taking over in November. Old Mutual has a new management team in the form of Mr Hemphill and Ingrid Johnson, the chief financial officer. Julian Roberts and Philip Broadley, their respective predecessors, were regarded in the City as having done a valuable job repairing many of its failing businesses after the financial crisis. However, the company has continued to face the headwinds of a weak rand and tougher regulation as a consequence of its UK domicile. Old Mutual has more than 17.5 million customers and employs more than 60,000 people globally. At Friday's closing share price of 179.7p, the company had a market value of £8.8bn. It was unclear this weekend what the Old Mutual board's intentions are towards each of the businesses as standalone entities, although a sale of the wealth arm looks inevitable. Cinven and Warburg Pincus have previously worked together on the ownership of the Dutch cable group Ziggo, and their offer for the Old Mutual division is said to be worth several billion pounds. Rothschild is understood to be advising the board of Old Mutual, while the company's brokers, Bank of America Merrill Lynch and Goldman Sachs, are also likely to have roles in the restructuring and sale of various assets.
r ball: floor to share price £2.10?
phoenix1234: Old Mutual: at 194p the shares look good value after a 12% share price fall
ogeretla: Well, Lansdown have to be on a paper loss at the moment - their break even price is probably something like 35p. And probably the higher the share price goes, the more they'll add to their short, in the hope of it plummeting to 30p again. They're probably betting on the 3 day DOW rally finishing and it all dropping today & Monday again. Today, the DOW and FTSE are "relatively" flat, though they were doing better earlier. It'll likely go lower this afternoon IMHO and OML will have lost all of todays gains, but there's always next week, unless you're a day trader. Anyone got any views on what effect OPEC will have on whatever they decide this weekend ? If they drastically cut the number of barrels of oil, then oil will likely shoot up in price - therefore more expense for all companies in general ? So, in general, shares drop on Monday ?
ogeretla: A previous analyst report I saw a week or two back suggested £978.5m pre-tax profit on revenue of £1,477m (but can't remember where I saw it - I just made a note, though that revenue figure sounds dodgy ?). Tonights preview from 9 analysts reckons £1.24b pre-tax, higher than the report I saw. OK, it's 24% down on last years, but what was the share price back then - about 120p ? Anyone else got a better guess than the analysts, before tomorrow morning ? EARNINGS PREVIEW: Old Mutual 08 Pretax Profit Seen Down 24% Old Mutual (OML.LN): 2008 Full-Year Earnings Figures Due: March 4 at 0700 GMT Company Survey of 9 Analysts Average Pretax Operating Profit: GBP1.24B, -24% (GBP1.62B in 07) Note: It's likely sales in the UK and the US have weakened. The company will use the Market-Consistent Embedded Value basis of accounting for the first time. Focus will be on the capital position, any possible asset impairments and the potential sale of the company's stake in Nedbank Group (NED.JO). (VDG) Contact us in London: +44-20-7842-9464
deeman2: In reference to post number 591, if this happens how long do you think it is likely to take? It OML was to sell assets they would be selling assets at the bottom of the market, not good for a business who's liabillities for outway its assets, have a look at the balance sheet. NED bank is a waste of space in my opinion and as the global slow down acclerates, I expect NED banks bad debt to increase at an alarming rate, don't forget it has exposure to a lot of miners. It also going to be difficult in these markets for OML to raise money, so does not look good for the company!! Of course I accept I may be wrong, but it seems the share price seems to agree. Good Luck whatever view you take. D
dmf: OML significantly under valued on the basis of the break up of its various operations. In fact i think the share price has under performed most European Insurers. If OML can alleviate investors regarding its US exposures on its life operations, share price should gain momentum - upwards
lbo: The Forecast Factory: Old Mutual has steady price potential IN MID-September, when Old Mutual was reviewed in this column, among the important investment fundamental points made were the weight of its South African operations relative to global profit contribution, and the difference between the company's embedded value and its share price. (The embedded value is the sum of the company's new worth and the present value of the future profits of its life insurance in force.) Old Mutual is based in London and is listed there and on the JSE. It accounts in British pounds, and converts its financial reports into rands. In the financial year to December 2005, gross operating profit (excluding short-term fluctuations in investment returns) was R15,3bn, More than 80% of that profit was derived from South African operations, a mix of its life insurance and asset management operations in SA, its 55% stake in Nedbank and its 88% in short-term insurer Mutual & Federal. Its US operation provided about 17% of the total. In the half-year, through the acquisition of Swedish company Skandia, the geographical weighting had shifted, with SA's contribution to operating profit less than 70%, while Europe provided 14%, about the same weight of the US. For the year to last December, the total operating profit increased 32% to R20,23bn. The South African weighting was 69%, Europe's was 14,2% and that of the US 15,5%. In financial 2006, the rand's value rose relative to the dollar, pound and euro. This meant bottom-line earnings per share fell 1,2p. In SA's currency, the change was a reduction of diluted earnings per share to 200,1c from 281,4c. The geographical weightings - with better performance outside SA - and the fall in the rand value of earnings highlight the currency risk carried by the company's shareholders. But, as Old Mutual's operations will almost certainly grow, and the rand will remain stable (more probable) or weaken, its earnings trend in rands will almost certainly grow rapidly. The damper is finance charges. Skandia did not come without a cost. In 2005 net finance costs were R178m and in 2006 they rose to R2,03bn. Let's return to pounds and look at the company's cash-flow statement. Total debt at the end of 2005 was £1,98bn. The company then had liquid assets of £704m. Cash from operations and capital receipts improved cash by £891m. Operational costs were £156m and other items improved cash by £32m. Costs of acquisition (including Skandia) were £1,29bn, leaving cash available of £571m, liquid assets of £76m and total cash resources of £647m. The company had then to pay dividends of £281bn and invested £214m in organic development, making for an outflow of £495m. At year-end, debt was £2,48bn and the company had liquid assets (mentioned above) of £76m. This, the directors reckoned, was "more than in normal expectations than the end-2005 balance, as surplus cash is generally applied to reduce outstanding debt". In short, expansion abroad is working well and cash management relative to expansion appears to be managed efficiently. This brings us to the highlight mentioned above relative to the earlier column reviewed - embedded value. The company's embedded value per share at the end of 2006 was £1,57, or 10% less than the 2005 figure of £1,74. But, through the magic transformation of the international currency mechanism, the embedded value per share in SA currency was R21,50, an increase of 13% over the year. This is much the same increase as in the last six months. The share price in September in the previous review was R22,65, and the premium of the share price on the embedded value was 19,5%. Now, at a share price of R24,65, the premium on the embedded value is 14,7%. For South African shareholders and potential investors, it has to be accepted that the relationship between embedded value and share price is a moving target. The company should at least improve its basic earnings per share of 230c in 2007. On a share price of R24,65, this is a forward earnings yield of 9,3, a forward price-earnings ratio of 10,8 and a projected dividend yield of somewhere between 3% and 3,5%. These ratings don't entice. Of course, if Old Mutual can again reach the 2005 earnings of close to 300c a share, the forward price-earnings ratio could be under seven. This looks like the kind of rating that justifies the share price premium on embedded value. And a 10% share price rise to R27 - possibly even 20% to R30 - this year is attainable. The trend is more probably up I HAVE used a bar chart together with Old Mutual's vertical/horizontal filter (VHF) plotted over a 16-month period during which it has put on 58%. Of interest is the VHF, a charting indicator that tells you if a share price is in a trending or a congestion phase. The clear congestion phase shown on the above chart is the period between March and August last year, when the price generally moved sideways, but with three downward dips occurring in April, July and August. On the VHF these are indicated by rises rather than falls, as the VHF is concerned with trends irrespective of the direction of a trend. In trendless (congestion) phases, the VHF falls to a low level, and rises when a new trend is in the making. The VHF plotting on the far right of the chart is rising from a low level, showing that a new trend is imminent. But will that trend be a short-term bull or short-term bear trend? In the past seven months following the May-June 2006 dip, Old Mutual mostly held a bull trend, which it lost briefly in December and again with the recent dip. According to its standard deviation plotting taken from May 2005 (not shown) it is well supported at the R23,50 level and its current equilibrium point is just below R26, showing that it is undervalued. This leads me to expect the new trend to be upwards. There is a possible, but suspect, down-count to R18, and more likely up-counts to R27 and later on R33.
Old Mutual share price data is direct from the London Stock Exchange
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