Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ST JAMES'S PLACE PLC. We currently have 18 research reports from 1 professional analysts.
|28Feb17 07:00||RNS||Annual Results|
|26Jan17 07:00||RNS||Q4 New Business Inflows and Funds under Management|
|25Oct16 07:00||RNS||Q3 New Business Inflows and Funds under Management|
|27Jul16 07:00||RNS||Half Yearly Report|
|26Apr16 07:00||RNS||Q1 New Business Inflows and Funds under Management|
|22Mar16 10:08||RNS||Correction of classification error in 2015 Results|
|25Feb16 07:00||RNS||Annual Results|
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Research reports on
ST JAMES'S PLACE PLC
ST JAMES'S PLACE PLC
Panmure Morning Note 28-02-2017
28 Feb 17
St James’s Place has delivered a strong set of results with the operating cash result in line with expectations and the EEV profitability well ahead of expectations. The Operating cash at £226m (+16%) compared to consensus at £235.1m helping to drive a final dividend of 20.67p (+20%) and a full year dividend of 33.0p/share (+18%). EEV Operating profit was £673.6m (+2%) and the IFRS pre-tax profit was flat at £163.5m. The Embedded Value NAV at 901p per share at 31 Dec 2016 (2015: 737.3p) was well ahead of expectations of 856p per share driven by positive investment and experience variances. Lastly, the very well regarded CEO David Bellamy will step down at year end after 11 years as CEO and be replaced by equally highly regarded CFO Andy Croft. Importantly it’s an internal appointment which we view as key. We maintain our Buy recommendation and 1274p/share target price. Buy.
Panmure Morning Note 26-01-2017
26 Jan 17
St James’s Place has delivered a great Q4 trading update. The strong Q3 performance has continued into Q4 with gross inflows of £3.3bn (+30%) making £11.4bn (+23%) for the year. Net inflows in Q4 of £2.1bn (+26%) and £6.8bn (+17%) for the year were impressive with gains spread relatively evenly leading to record FUM of £75.3bn (+28%). Partner numbers at 2016 year end at 2378 (+5%) but more importantly total Advisor numbers were 3415 (+10%). The shares have recently been helped by strong equity markets but in our view have further to go reflecting an undemanding valuation for a business that looks set to double in size every 5 years. SJP is in the Panmure Gordon 2017 Conviction List. We maintain our Buy recommendation and our top of the range target price of 1274p/share.
Panmure Morning Note 06-01-2017
06 Jan 17
St James’s Place will celebrate its 25th year in 2017. In those 25 years SJP has grown from a £500m market cap company to a FTSE 100 participant. The transformation has been driven by a long serving and highly regarded management team. We view the trading outlook as exceptionally good and certainly in line with company guidance of 15-20% growth in the medium/long term. We increase our target price to 1274p from 1145p to reflect better than anticipated historic EEV NAV plus 5x 2017F net new business profit.
Conviction List Q1 2017
05 Jan 17
Since its inception in 2010, the Conviction List has outperformed the market in 11 of 19 periods and a reinvested Conviction List would have returned 260% against a Small Companies index that would have returned 194%. Our Conviction List returned 0.4% over the last quarter; this was set against the benchmark UK Small Companies index that returned 4.0% over the same period.
Panmure Morning Note 01-11-2016
01 Nov 16
Yesterday the management team at SJP gave a presentation that covered areas such as ‘people & culture’, ‘clients & value’ and ‘partnership & development’. It was all good stuff but the key message that came across loud and clear was that the SJP will continue to grow 15-20% a year driven by the inflow of new Partner and multi adviser businesses. It’s a highly impressive business that is hard to fault and one that even performs in difficult investment markets. The higher than expected EEV NAV of 838p/share net of goodwill at 30 September has enabled us to maintain our Buy recommendation and increase our target price to 1145p from 1078p previously.
Another positive verdict
20 Mar 17
Burford’s results for 2016 produced another outstanding set of figures. Revenue grew by 60% to $163.4m with strong growth in the litigation finance business and an additional boost from a secondary sale in the Petersen case. On an underlying basis net income grew to $114m, a 75% increase despite the investment in growing capacity which increased costs. A combination of ongoing investment and gains and increases on valuation saw the fair value of the litigation assets increase 67% to $559m, underpinned by a growth in invested capital to $394m. With the results statement there was an announcement of a further sale of 9% of the Petersen case at a valuation of 20 times the cost of investment.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017
Small Cap Breakfast
23 Mar 17
K3 Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
N+1 Singer - Morning Song 23-03-2017
23 Mar 17
eg solutions (EGS LN) Re-focusing on sales is delivering rewards | Futura Medical (FUM LN) FY results: continued clinical, regulatory and commercial progress | Halfords Group (HFD LN) Confidence in FX mitigation grows; stay at BUY | IFG Group (IFP LN) Top line growth but earnings pressures remain | Realm Therapeutics (RLM LN) FY results in line; on track for Phase II start in 2017 | Safestyle UK (SFE LN) Another good full year performance but valuation up with events | WYG (WYG LN) Mixed conclusion to FY17, reassuring FY18 outlook