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Prices & Quotes - UK Markets - IntegraFin Holding (IHP)

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:
Up 523.00p
Change Today:
7.50p
Market Cap:
1,732.81m
Sector:
Financial Services

Berenberg downgrades AJ Bell to 'sell'

By Michele Maatouk

Date: Thursday 12 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Berenberg downgraded its stance on shares of trading platform AJ Bell to 'sell' from 'hold' on Thursday, slashing the price target to 280p from 370p.
Berenberg said the multi-year growth story at AJ Bell remains compelling. However, it highlighted two reasons why AJ Bell is likely to face far larger downgrades to estimates than peers.

"Firstly, it is geared to interest rates, and Wednesday's 50 basis points base rate cut is likely to have a 15%-plus negative impact on consensus 2020 profit before tax (the company addressed this in an RNS late on Wednesday afternoon).

"Secondly, AJ Bell's D2C AUA is likely to be more volatile, since D2C customers both hold a greater mix of equities and could be more susceptible to changing sentiment."

In the same note, Berenberg said IntegraFin remains its top pick in the sector, as its net flows have been higher and more resilient than peers' in a range of market conditions, and have been the highest of any adviser platform in four of the past five quarters.

"On this basis, we believe IntegraFin is best placed to outgrow market weakness across each year in our forecast period," it said.

It rates IntegraFin at 'buy' and cut the price target to 470p from 490p.

At 1340 GMT, AJ Bell shares were down 17% at 257.00p.

On Wednesday, the company said it was "difficult to predict" the impact on its trading performance of the Bank of England's surprise interest rate cut and the recent slump in global stock markets on the back of coronavirus fears.

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

 

IHP Market Data

Currency UK Pounds
Price 523.00p
Change Today 7.50p
52 Week High 574.00p
52 Week Low 456.50p
Volume 99,143
Shares Issued 331.32m
Market Cap 1,732.81m

Performance Indicators

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Operating Margin
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What The Brokers Say

Strong Buy 2
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 5
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IHP Dividends

  Latest Previous
  1st Interim 2nd Interim
Ex-Div 27-May-21 24-Dec-20
Paid 25-Jun-21 22-Jan-21
Amount 3.00p 5.60p

Trades for 22-Jun-2021

Time Volume / Share Price
14:07 19 @ 523.50p
14:03 24 @ 523.00p
14:03 188 @ 523.00p
14:03 50 @ 523.00p
14:03 40 @ 523.00p

IHP Key Personnel

CEO Alexander Scott
Chair Richard Cranfield