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Prices & Quotes - UK Markets - Quilter (QLT)

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 155.85p
Change Today:
-0.70p
Market Cap:
2,715.27m
Sector:
Financial Services

Quilter to sell international business to Utmost for 483m

By Michele Maatouk

Date: Thursday 01 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Quilter has agreed to sell its international business to life assurance company Utmost for around 483m as it looks to simplify the group and focus on its higher growth UK wealth management business.
It said the sale, which has been unanimously agreed by the board, is in the best interests of shareholders "and is expected to support the continued delivery of good outcomes for customers and other stakeholders".

The transaction is expected to complete around the end of the year, conditional on shareholder and regulatory approvals.

Chief executive Paul Feeney said: "It allows us to focus on accelerating our growth and efficiency plans as well as further simplifying and focusing our business around its core UK high net worth and affluent customer proposition. It also gives us the ability to deliver a further meaningful capital distribution to shareholders. With the recent completion of our platform transformation programme, we are set up for strong growth."

Quilter also said on Thursday that from the beginning of next year, it will target annualised net client cash flow growth of at least 6% of opening assets under management and administration in the medium term, up from its previous 5% a year target and "reflecting the revised corporate perimeter which will exclude the lower growth Quilter International business".

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Quilter Market Data

Currency UK Pounds
Price 155.85p
Change Today -0.70p
52 Week High 167.80p
52 Week Low 118.55p
Volume 3,172,014
Shares Issued 1,742.23m
Market Cap 2,715.27m
Beta 0.02

Performance Indicators

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What The Brokers Say

Strong Buy 8
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 9
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Quilter Dividends

  Latest Previous
  Final Interim
Ex-Div 08-Apr-21 03-Sep-20
Paid 17-May-21 21-Sep-20
Amount 3.60p 1.00p

Trades for 13-May-2021

Time Volume / Share Price
16:35 404,775 @ 155.85p
16:29 460 @ 156.40p
16:29 437 @ 156.40p
16:29 75 @ 156.40p
16:29 1,484 @ 156.50p

Quilter Key Personnel

CEO Paul Feeney
CFO Mark Satchel