Quilter (QLT)

Sector:

Financials

Index:

FTSE 250

150.10p
   
  • Change Today:
      0.100p
  • 52 Week High: 174.70
  • 52 Week Low: 97.60
  • Currency: UK Pounds
  • Shares Issued: 1,839.07m
  • Volume: 3,190,068
  • Market Cap: £2,760.44m
  • RiskGrade: 149

Quilter considers sale of life assurance business

By Michele Maatouk

Date: Thursday 04 Jul 2019

LONDON (ShareCast) - (Sharecast News) - Quilter said on Thursday that it is mulling the sale of its Old Mutual Wealth Life Assurance business as it announced a strategic review of the unit.
The wealth manager said no decision has been taken by the board on any particular option, including whether to dispose of Old Mutual Wealth Life Assurance.

"Accordingly, there can be no certainty that any transaction will be concluded, or if so, its timing or terms," it said, adding that a further announcement will be made if and when appropriate.

At 1005 BST, the shares were up 0.7% at 146.19p.

RBC Capital Markets said: "We see this more formal announcement as effectively in-line with the spirit of the message management has consistently given on QLA since the time of the IPO last year (i.e. that the business is seen as non-core).

"We continue to see any deal at a sensible price as positive for QLT shareholders, not least due to the implications on the Quilter balance sheet. A sale may present the opportunity for QLT to exit Solvency II, or materially reduce its working SII ratio (QLT currently operates at 190% whilst wealth manager peer St. James's Place last reported was 143%)."

UBS said: "We believe that this business is not core to Quilter's strategy and that a sale of this business would improve the investor appetite for the stock as this would create a more focussed vertically integrated wealth management business. With this business closed (i.e. in run-off) we believe that, if sold, the growth profile of the group could be materially enhanced.

"As Quilter stated that they have no need for additional capital currently, we believe the strategic review may increase prospect of potential proceeds to be returned to shareholders via a special dividend."

Email this article to a friend

or share it with one of these popular networks:


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

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Quilter Market Data

Currency UK Pounds
Share Price 150.10p
Change Today 0.100p
% Change 0.07 %
52 Week High 174.70
52 Week Low 97.60
Volume 3,190,068
Shares Issued 1,839.07m
Market Cap £2,760.44m
RiskGrade 149

Quilter Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
42.19% above the market average42.19% above the market average42.19% above the market average42.19% above the market average42.19% above the market average
27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average
Price Trend
39.54% above the market average39.54% above the market average39.54% above the market average39.54% above the market average39.54% above the market average
49.30% above the sector average49.30% above the sector average49.30% above the sector average49.30% above the sector average49.30% above the sector average
Income
29.57% above the market average29.57% above the market average29.57% above the market average29.57% above the market average29.57% above the market average
55% below the sector average55% below the sector average55% below the sector average55% below the sector average55% below the sector average
Growth
19.64% below the market average19.64% below the market average19.64% below the market average19.64% below the market average19.64% below the market average
19.33% below the sector average19.33% below the sector average19.33% below the sector average19.33% below the sector average19.33% below the sector average

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 1
Sell 1
Strong Sell 0
Total 8
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
  Interim Final
Ex-Div 03-Sep-20 02-Apr-20
Paid 21-Sep-20 18-May-20
Amount 1.00p 3.50p

Trades for 12-Aug-2020

Time Volume / Share Price
11:14 1,154 @ 150.10p
11:14 871 @ 150.10p
11:14 861 @ 150.10p
11:14 16 @ 150.10p
11:13 99 @ 150.20p

Quilter Key Personnel

CEO Paul Feeney
CFO Mark Satchel

Top of Page