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I might be wrong, but I thought that they were in bed with Woodford as major shareholders in supporting the failed NSF bid. It just seems a bit strange that they are now selling down when the price seems to be finally edging back upwards.
Don't understand why a company like invest would be selling down at these prices?? Do they trade them a lot??
So it's another Invesco sale. That's several now in the past few weeks or so. I haven't checked, but are some of their funds having liquidity issues too?
So it was the Deputy and not the Sheriff who sold.
Even though it’s not Woody, Invesco selling down is still a positive. Each sell moves us further away from ever finding ourselves in an awful forced takeover scenario again as minority shareholders.
Wow yes 1,516,655 share sale 428.5p at 14.56 is a whopper can’t wait to see who it is
Lots of useful posts on the board today especially Theborn profit assessment and history of acquisitions in sector from galiniwilbury Only sorry I can’t add much substance but appreciate what I’m learning
Just noticed that, Theborn. Guess we'll have to wait until the RNS to find out who (nice if it's Woodford), but good that the SP has held.
£6.5m sell trade just after lunch. My guess Invesco or Woodford. Price has held which is positive.
Romaron. I actually do remember Blundells, a moneylender based in Burnley. Along with Lawson-Fisher, a Glasgow-based chain of department stores serving the Scottish sub prime market, Blundells was then owned by Mabey Construction in the days when diversification was popular. Both companies were acquired by PFG from Mabey in the late 1980s. Lawson Fisher was non-core and was eventually closed down. Blundells was assimilated into HT Greenwood, a deposit taking moneylender and another PFG subsidiary, operating then out of Ashton-under-Lyne, and now part of the current PFG home collected credit division. Blundells and Lawson-Fisher were both branch-based, and each had its own home collected credit infrastructure, so at the time there were close synergies with PFG's business.
I m not investing on your views but the information off woodford and Keith ashworth lord. If its good enough for them it is for me I m just trying to learn more before I commit a sizeable amount thanks
Grippa- whilst I appreciate having a camaraderie with other investors in pfg, I would never in a million years invest in a stock based on info and opinions from people on a chat room. My method is to educate myself as much as possible based on the past few years of company financials, investor buys, director buys and sector sentiment. If something comes in as undervalued then I’ll consider investing in good amount comfortable in the knowledge if it goes bad I only have myself to blame! I’m a big holder in pfg which I’ve built up over 6-9 months so my views are clearly going to support that so always spend time doing your own readership bud.
Roman like your post so how is Provident financial better than the companys you mentioned please I am keen to learn if PFG has a moat around its business model or not??
Excuse my ignorance but in my basic knowledge sub prime lending is lending to people who might have difficulty paying back so pay silly interest what percentage of provident financial is this. TheBorn kindly highlighted the different businesses they have but still don’t know what they all do in layman’s terms never thought of an investment like this before so struggling to understand the basics of it!?!
Excuse my ignorance but in my basic knowledge sub prime lending is lending to people who might have difficulty paying back so pay silly interest what percentage of provident financial is this theBorn kindly highlighted the different businesses they have but still don’t know what they all do in layman’s terms never thought of an investment like this before so struggling to understand the basics of it!?!
Back in 2010 ish I made my first investment in PFG. At the time it was the most shorted stock in the FTSE. I built up a shareholding at under a tenner because there was little else giving such a return and it was a simple model by a company with serious experience and branding. I calculated that I knew as much about their workings as a hedge fund trader because they provided the funds to buy my school uniform ( I had a brother collecting for the Northampton Boot co a money lender and who here remembers Blundell's) The competition seems to be dropping off but I don't see the demand by sub-prime borrowers going away.
Albemarle & Bond went last week. Associated with Speedloans whoever they are. Wonga we all know about. A good signal was the RBC raising the price target of Amigo to 235p (closed Fri 73.70) whilst even NSF has its fans. I wouldn't touch either as I believe their models are flawed with guarantor lending. Who here hasn't had friction with friend and family lending?
The FCA don't make it easy but as investors we can sleep better knowing we aren't actual loan sharks. PFG looking more solid by the day.
*IF anything
Basically asking what risks come with it? I realise woodfords a major reason why the SP is so low what else could of anything pull it down further apart from Woodford? Don’t mean to sound realistic just hoping to get a good understanding
Thanks TheBorn this is good reading and IF there is a recession we have to be realistic SP will be effected but theres no chance of them Going bust?? I keep looking here but have funds tied up elsewhere they may become available soon so just starting to look more closely here but not got much knowledge of it so excuse my amateurish questions and thanks for the reply!!
My honest view is this will be back £20+ in that time horizon. In 12 months home credit will be back in profit and delivering £50m+ in midterm; vanquis move from sub-prime to near-prime completed so profits increasing there to £220m+; and provided no blow-out in the auto industry then moneybarn £50m+. Earnings per share back in the £1.50 range should see the SP comfortably north of £20. Earnings £2+ then should be looking at £30 range. Entirely feasible if management continue the progress and keep regulator on side. Particularly as all PFG competitiors will be in line for a shake down from the FCA and some like NSF might even go pop (they can’t pay out dividends from capital and keep making losses for even.....the road ends somewhere)
TheBorn do you have a target share price for PFG in say 3-4 years and is there much opportunity for dividend to Grow also within this timeframe??
Im not sue if I have done the right thing, time will tell. Bought into another share but very short term (bit risky). I want to be back back invested By 7/11. Good luck Barrie
Sorry been away from the board today
I’m going to keep my powder dry and see how it opens Monday but my problem is I can’t easily average down from here if it goes higher and still think it’s a punt ahead of 7/11 announcement plus I’m now holding for long term as am a lousy teaser and don’t have level 2
Agree and a very good run over a week or so
Nice to see a decent rise in the SP today (and 8% over the week), but nicer still to see it hold it's own today and not fall back at the end.
Still waiting for the hopeful big re-pricing, but maybe we'll have to wait until 7/11 or later for that.
damn it. Ive just old. Going to look to buy back in, jyst need to pick my re-entry point. Whats your thoughts Barrie?
Just seen O trade buy 475,000 SP has reacted