Share Name Share Symbol Market Type Share ISIN Share Description
Provident Financial Plc LSE:PFG London Ordinary Share GB00B1Z4ST84 ORD 20 8/11P
  Price Change % Change Share Price Shares Traded Last Trade
  -6.50 -3.34% 187.90 1,046,385 16:35:25
Bid Price Offer Price High Price Low Price Open Price
186.40 187.10 202.00 181.30 199.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 998.30 128.80 33.30 5.6 477
Last Trade Time Trade Type Trade Size Trade Price Currency
16:52:05 O 1,227 186.852 GBX

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Provident Financial Takeover Rumours

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Date Time Title Posts
15/2/201914:39Why is the management of this company letting over-zealous politician destroy it4
15/8/201713:25good for a short on tonights PANORAMA?7

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Provident Financial Daily Update: Provident Financial Plc is listed in the Nonequity Investment Instruments sector of the London Stock Exchange with ticker PFG. The last closing price for Provident Financial was 194.40p.
Provident Financial Plc has a 4 week average price of 140.70p and a 12 week average price of 138p.
The 1 year high share price is 542.20p while the 1 year low share price is currently 138p.
There are currently 253,615,794 shares in issue and the average daily traded volume is 3,347,042 shares. The market capitalisation of Provident Financial Plc is £476,544,076.93.
dexdringle: Net tangible assets here (stripping out intangibles) is £2.20 per share. They can afford to write off around £300 million (almost 20% of loan balances) until the net tangible assets equal the current share price or, to put it another way, the market seems to be 'pricing in' a haircut of around 20% across the whole loan book ???
1cutandrun: PFG where testing handhelds for years but they all had problems. Funny that, as Prudential were using Huskys. The true fact was cost. Then apps came out and agents could use their own phones, saving the company a fortune. PFG were always being investigated by HMRC due to the self employed status. Uber started up and there was an outcry on being self employed. PFG knew they would get bad press, as they had so many people on that status. So things had to change. Instead of rolling it out gradually they did it all in one hit. What idiots. That was a recipe for disaster and yes it was. Under Kuffeler that would never have happened. When I retired the share price was £22 and went up to £30, now look them £1.88. How the mighty fall.
superiorshares: icutandrun I have also worked at one of Europe's largest commercial solicitors before :-). The legal costs for takeovers work both ways as far as I am aware ? NSF must have incurred considerable costs in the failed takeover ? I am assuming takeover costs , Corona costs are all in the share price already ? Why I am biding my time is I think the impairment costs, in percentage terms. Will be a total unknown for a few months yet. Also I don't think the Divi will be restored untill perhaps 2023. There will be a lot of mess to sort through. Anyway you Will understand a lot more about that than I ever will. You are my new Friend 😊 Regards
superiorshares: 1cutandrun. Thankyou very much for your reply. Years ago I was a postie and back then, it was early finish. A couple of the postie's were part time agents. It's were i got my scant knowledge of it. They did it for provident. NSF and MCL were not around then as far as I am aware ?. That was my thoughts on the arrears. I am thinking of going with NSF because to be honest with Provident, it wasn't broke and that chap tried to fix it. With moving all the agent's to full time etc. Just an unforgivable disaster that for me. That collapsed the share price quicker than Corona. I will have a Google of the NSF chap tomorrow. Regards
1cutandrun: I like to give you some information about PFG as I worked for them for over 30 years before retiring. This might help you with your portfolio. John van Kuffeler was the chairman for 20 odd years and very successful, apart from buying Yes Car Credit. He recruited Peter Crook who was the MD of Barclaycard.They wanted him to introduce a credit card for PFG, hence Vanquis.was born. They also wanted to start up in different Countries. Poland was ear marked and South Africa. Only Poland took off and made money. PFG then split the shares and IPF was born. Kuffeler retired as chairman before the shares crashed and started up his own company Non-Standard Finance (NSF). He is the CEO of the company and knows the business inside out. He tried a take over bid last year for PFG but failed. I purchased and sold two stocks in April (10k each). Barclays at 82p which was a no brainer and sold at 1.10p, also NSF at 8.5p and sold at 14p. I'm hoping Barclays will drop to less than 1 pound and I will buy back in. On Friday I was back in with NSF at 10.5p and sold at 12.3p. So I think NSF would make a good speculative bet, but be warned. Their annual report should have been released on 28th April but they are allowed to release it later due to the virus and it's coming out Mid-May. You have to watch this share price like a hawk, but if you can get in low the reward can be huge. On Friday there was only a 15 minute widow to buy low. Best of luck on what you decide to do
dual: Woodford in trouble... this is probably why PFG share price has fallen for the past week.. Woodford will need to sell.I think this is the beginning of the end of Woodford Investment and with it NSF.
grahamg8: Sorry Invictus "PFG" don't get to choose the take out price. The shareholders do. And according to NSF it's all done and dusted. IF a rival bidder can be teased out then the price could be driven up. Try to be too greedy and NSF will simply walk away and the PFG share price will drop like a stone. It isn't exactly clear what the NSF shareholders get out of this, so the biggest hurdle might be getting them to agree to the deal at the current offer price.
dexdringle: This is most odd..... Firstly NSF announce a 'firm' offer but no immediate response RNS from PFG who take three and a half hours to announce that they haven't yet got a response. So, presumably, they had no idea this was coming. NSF state that they have the agreement in principle from more than 50% of PFG shareholders meaning that, before the announcement, they must have discussed the proposed plan with some shareholders and not others. The PFG share price is now nearly 10% above the offer price based on the current 62p NSF share price x 8.88.
theborn: I’m going to repost what I’ve said in another group: Per 2018 interims: Shareholder equity £678m. Taking this over the 253m shares in issue = £2.70 of asset value per share on B/S at that time. Assuming a statutory PAT for H2 2018 of c.£50m = £0.20p of further asset value per share on B/S. So on a current share price of £4.95....nearly £3.00 of that is current value. Meaning future return prospects are priced in at only £2.00?!? I know PFG have had their issues but I struggle to accept there isn't a huge market overreaction here, regardless of the 'profit warning' which wasn't a profit warning in the traditional sense. PFG stating adj. profit 4% lower than the mid range (but still within the full range) has knocked 25% off the share price. Madness. With the bulk of the regulatory and home credit issues put to bed, plus even factoring in tightened underwriting and borrowers being cut some slack on payment arrangements, there is no reason PFG won't be forecasting (and hitting) adjust profit target of >£200m for 2019 (on basis of Vanquis / Moneybarn zero growth and Home Credit not adding anything to P&L)....this is 80p per share. Any way I look at it, going long at any price close the current £5 represents significant RV opportunity and risk adjusted upside. No doubt the PFG Board will make me eat my words by announcing 2018 figures below the £151m bottom end on adjusted P&L, but regardless of that, the future value here is still very appealing. Viewing on a medium term time horizon there is a very real chance the share price will double, if not treble, on today's value if they continue to work with the regulator and focus on sensible underwriting. Factoring in a dividend policy of paying out c. 70% of PAT I can't see many other income and capital cash cows available at this type of value. I’ve been loading up.
umitw: PFG share price is a bit like Bitcoin! LOL
Provident Financial share price data is direct from the London Stock Exchange
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