Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on MAN GROUP PLC. We currently have 3 research reports from 2 professional analysts.
|09Dec16 05:50||RNS||Transaction in Own Shares|
|08Dec16 05:52||RNS||Transaction in Own Shares|
|08Dec16 02:00||RNS||Directorate Change|
|07Dec16 05:47||RNS||Transaction in Own Shares|
|06Dec16 05:54||RNS||Transaction in Own Shares|
|05Dec16 05:45||RNS||Transaction in Own Shares|
|05Dec16 04:20||RNS||Holding(s) in Company|
Frequency of research reports
Research reports on
MAN GROUP PLC
MAN GROUP PLC
27 Jul 16
Ahead of the anticipated Fed statement this afternoon, which should outline findings and expectations from the 2-day FOMC meeting, London equities are expected to open in a lacklustre mood, with the FTSE-100 seen up around 10 points in early trade. With expectations of a continuing ‘wait-and-see’ approach, while additional data is collected throughout August in order to assess post-Brexit global confidence, the hot money continues to suggest September as the most likely month to see the first US rate hike since December 2015. With that background, markets will instead be left to focus on less than inspiring earnings figures emanating from the Q2’16 US reporting season. So far 159 companies in the S&P500 have provided results which, according to FactSet are showing an annual contraction of 4.5%; relative to consensus expectations of a 5.3% decline that has not been enough for markets pundits to celebrate and, following consecutive days of new record highs for both the main indices, there is little enthusiasm to push any further. This left the principal US indices to close mixed but little changed yesterday, with the tech-heavy NASDAQ being the principal winner. Asia was altogether more positive, as investors bought the Nikkei back again on revived expectations of the BoJ delivering a sizeable stimulus package after all. With Japan regaining just about all of Tuesday’s losses, again led by tech issues, the region saw more modest rises elsewhere, but even the commodity-heavy ASX turning fractionally positive by the close despite high crude inventories keeping oil close to its three-month low. While the FOMC statement will be today’s main action, UK GDP preliminary estimates and monthly service sector figures have the potential to grab some headlines. UK corporates reporting earning this morning include GlaxoSmithKline (GSK.L), Mitchells & Butler (MAB.L), Taylor Wimpey (TW..L), Dignity (DTY.L), St James’ Place (STJ.L) and Softbank’s takeover target, ARM Holdings (ARM.L).
Panmure Morning Note 29-07-15
29 Jul 15
Interim adjusted PBT of $280m (+89%) was above expectations because of higher performance fees this year. Net outflows in the half were -$2.6bn. AHL has suffered a reverse in investment performance in 2015. We will review forecasts for FY15 given the stronger H1 profit.
Mobilising the strategy
08 Dec 16
PCF has reported a good set of FY16 figures this morning. Pro forma 12 month adjusted pre-tax profit increased 38% YoY to £4.0m (FY15: £2.9m), 5% ahead of our estimate of £3.8m. Fully diluted return on equity remained broadly stable YoY at 13% but beat our forecast of 12.6%, driven by good loan book growth, up 14% YoY to £122m. Given the strength of the results the board has reinstated a dividend of 0.1p per share. Following Tuesday’s announcement of the approval of a banking licence, we believe that the group now has the capacity to accelerate its growth prospects. While the shares trade at 12.0x earnings and 2.0x reported book value, we do not believe this valuation captures the growth potential of the business.
VPC Speciality Lending Investments PLC – sticking to your knitting pays dividends
05 Dec 16
A 25% discount on a dividend paying vehicle suggests either (a) lack of belief in the NAV, (b) lack of belief in the dividend, (c) concerns over future delivery, (d) a shareholder’s base not normally exposure to “closed end structures” or (e) some combination of (a) to (d). We had a first meeting with the management team and London representative of VPC Speciality Lending to try to better understand why the share price had fallen quite so much.
Small Cap Breakfast
07 Dec 16
Creo Medical group—Schedule 1 update.. £20m raise. Expected market cap £61.2m, admission expected 9 December. ECSC—Schedule 1 from provider of cyber security services. Raising £5m. Vendor sale £0.8m. Target date 14 Dec. Expected market cap £15m. RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m
Better Capital – A tale of two funds
05 Dec 16
Our gut feel on the results is that BCAP’s Gardner disposal feels viable (albeit as a late Q1 transaction). Post Gardner, the exit profile for BCAP’s portfolio is slanted towards the years 2018/19 and not earlier; we view the market’s current pricing as cautious (14% disc to our estimate of FV). In contrast, BC12’s more consumer facing portfolio remains a work in progress and may well offer further disappointment before turning a corner; the market valuation (51% discount to NAV) is cautious but probably fair given the difficulties.
Panmure Morning Note 07-12-2016
07 Dec 16
PCF today announces that it has succeeded in achieving once its major strategic goals by being granted a UK banking licence. In line with prior guidance, the company aims to begin taking deposits in summer 2017 and will initially focus on lending to its core markets in consumer motor finance and SME asset finance. As well as supporting growth in the loan book, the banking licence will both diversify and reduce the cost of its funding base. More details are expected as part of the FY16 results tomorrow.
Meeting near-term headwinds
06 Dec 16
In its trading update IFG reported that performance has been in line with management expectations. The cooling effect of market uncertainty on growth in James Hay and financial advice client numbers, together with the impact of low interest rates, remain a near-term head wind for revenues. Even so, with Saunderson House continuing to increase profits, IFG expects to match 2015 earnings. The long-term growth opportunity presented by an ageing population and pension freedoms remains in place and to address this IFG is continuing investment to enhance its service and increase operational gearing.