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Prices & Quotes - UK Markets - Abrdn (ABDN)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 237.80p
Change Today:
-5.20p
Market Cap:
5,186m
Sector:
Financial Services

HSBC downgrades M and G and St.James's Place after sharp share price gains

By Alexander Bueso

Date: Monday 28 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at HSBC downgraded their recommendation for shares of M&G and St.James's Place from 'buy' to 'hold'.
To back up their case, they pointed to the possibility that the economy's reopening could drag on retail investors' savings levels, including on the funds allocated to long-term savings.

Then there was the simple fact that share prices of both firms had registered sharp gains quarter-to-date, of 14% and 17%, respectively.

In the case of M&G, the estimated 2021 dividend yield on offer had now been pared from more than 9% at the end of March to 7.6%.

More significantly, HSBC estimated that M&G's payout ratio on free cash flow would peak at about 93% in 2023, leaving it little room to grow its dividend per share over the medium-term.

The analysts also pointed out that M&G's with-profits business was being constrained by the lack of face-to-face meetings with advisers, while speculation in the press regarding a bid from Schroders had disappeared.

So too with St.James's Place, HSBC judged the share price was now up with events, including its own short-term estimates.

Its shares were now changing hands at a 10% premium relative to its average trailing 10-year consensus price-to-earnings multiple.

More over, the shares were offering an 11% compound annual growth rate in Assets under Management and Administration, against the 18% achieved in 2014-19.

HSBC did nevertheless bump up its target prices for shares of M&G from 220.0p to 250.0p and from 1,375.0p to 1,525.0p, respectively.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Abrdn Market Data

Currency UK Pounds
Price 237.80p
Change Today -5.20p
52 Week High 331.10p
52 Week Low 226.60p
Volume 4,486,698
Shares Issued 2,180.72m
Market Cap 5,186m

Performance Indicators

Compare performance with the sector and the market.

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Value
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Price Trend
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Income
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Growth
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Price Chg 6m
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P/E
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PEG
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Dividend Yield
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EPS Growth
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Operating Margin
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sector
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What The Brokers Say

Strong Buy 6
Buy 0
Neutral 6
Sell 2
Strong Sell 2
Total 16
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Abrdn Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Aug-21 15-Apr-21
Paid 28-Sep-21 25-May-21
Amount 7.30p 7.30p

Trades for 21-Jan-2022

Time Volume / Share Price
16:38 3,140 @ 237.80p
16:35 1,860,924 @ 237.80p
16:29 255 @ 238.90p
16:29 95 @ 239.00p
16:29 107 @ 239.00p

Abrdn Key Personnel

Chair Douglas J Flint
CFO Stephanie Bruce
CEO Stephen Bird