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Baffled why there has been a drop in SP with the ex-div date looming. I haven't seen any news to explain this.
I guess we're all asking ourselves the same question whitelye. For me it's all about the underlying performance of the company & let the dividend sort itself out. No easier to work that out though, at this stage. I have a small investment here as this is at the riskier end of my portfolio but would like to add if any clarity on the above emerges.
Looking at Jupiter I see that the special dividend was a "one-off" covering the termination of the share buy back programme. What is the feeling about future interim dividends, will these be calculated in the same way as the final dividend and perhaps be 50% of that figure (all things being equal) and is it likely to be accompanied by a small special representing a return of capital. Interested in hearing board members views / opinions.
I like the company for the views that have been echoed on this board but am trying to build a view on future divi policy.
Agree with that, whichever way you look at it this represents top value. Today's update wasn't exactly spectacular so pleasantly surprised to see perky price action today, probably a reflection of just how much bad news is priced in, so if market is expecting them to crash the car and they don't that means upside.
By now it seems market has more than baked in the headwinds like decline of active vs passive, UK equities sentiment being at all time lows and retail indifference to investing when interest rates so high. Glimmers of change in any one of those would be next catalyst, and there's a sense they can't get much worse.
There are several reasons to avoid this stock, primarily fund outflows in recent years and the gradual shift towards institutional clients (where the fee margins are lower). Losing the CEO wasn't a positive and there seems to be a market shift towards non-active fund managers (I'm a fan of tracker funds myself too). Total revenue was down 7% in 2023.
But:
1. Rumours of a takeover abound.
2. Modest AUM increases in recent periods.
3. Underlying PBT up 36% in 2023 (ignores exceptional items).
4. PE ratio of 5.8x (according to my modest spreadsheet).
5. EV:EBITDA of 1.1x (ditto).
6. Dividend yield of 11.2% (includes 'specials').
This is a profitable company (after exceptional items) with strong cash & financial asset balances paying regular and high dividends. It is trading on cheap multiples and is ripe for takeover. It isn't what it used to be but then neither am I.
Where's that BUY button?
There has been rumours of a takeover for a few years now .
Do you have a price in mind ??
In line with our capital allocation policy, final dividend of 3.4p per share, bringing total dividend for the year to 9.8p per share (2022: 8.4p per share), comprising an ordinary dividend of 6.9p per share and a special dividend of 2.9p per share.
Clearly the decks are being cleared for JUP to be taken out. Schroders?
Had a look at the chart of this over 5 years and 2 years and can't help thinking this has been named after the wrong planet. It should start with U but then the rest would be censored by LSE. These fund mangers are less successful than the average PI..
Watch for 2023 full-year results on 22nd Feb stargate, we should know more after that. The 6.4p includes a special but doesn't include the final for 2023, so really need some clarity going forward.
Total dividends of 6.4p per share.
Yield 19.884%, is it currently paid? If not, what is the circumstance?
Broker upgrades this to 'neutral'. Share price rises 8%. What a day.
Could this be a takeover play? Surely the active fund management sector is ripe for consolidation.
Could JUP rally up to
Final Results on 22-Feb-2024, 84p now
It is over 80p now and i can see 85p very soon.
One of the 24-hour charty people on Stockopedia is saying 55p.
I’m still waiting for 65p.
I have added this morning.
Pros:
PER = 9.5, comparing to say ABDN at 14 and AJ Bell at 17.
Sustainable yield at 3%+.
Profitable.
No debt.
FWIEW Stockopedia loves it, at a stockrank of 99!
Cons:
AuM falling and likely to continue doing so.
"Star" manager departing.
As a longer term hold, this seems to have potential.
I bought this stock together with Jupiter after the Jupiter profit warning. My view being that the multiples are very low and so are the expectations. And this is a kind of geared play on recovery in UK markets which have underperformed so much... Would grateful for any colour from anyone. Bullish or bearish.
Market has been kicking companies which push through intangible write downs. Has no impact on cash generation, just reported profit. That's why they confirmed it would not impact return to shareholders. Load of fuss about very little. They bought companies and now they are not worth what they paid/put on the balance sheet .... wow ... hardly unique.
#Hateintangibles
JRDC
shorters, short a share price....which often gets speculatively over bought in those high risk pharma trial research companies..
shorting a share price doesnt affect the clinical trials , but does tend to help equate share price to risk of trials not being successful.....
Just had new broker targets today..increases but still not recommended as a buy..some very off things going on, from a value perspective it hands down looks a buy, maybe missing something
That's In my opinion...Nobody is bigger than a company and whatever happened to: When a big Banana decided to leave he was shown the door on the spot..and especially where there was a tad of "Conflict of intrests"
I was filled yesterday at 71.77