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Pin to quick picksMan Share News (EMG)

Share Price Information for Man (EMG)

London Stock Exchange
Share Price is delayed by 15 minutes
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Share Price: 256.40
Bid: 256.60
Ask: 257.00
Change: 0.40 (0.16%)
Spread: 0.40 (0.156%)
Open: 254.60
High: 256.80
Low: 253.80
Prev. Close: 256.00
EMG Live PriceLast checked at -

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Broker tips: Man Group, Wise

Tue, 22nd Aug 2023 13:58

(Sharecast News) - The recent slump in Man Group's share price appears to be overdone, according to Citi, which reiterated its 'buy' rating and lifted its target price for the stock on Tuesday.

The investment management firm reported on 1 August that assets under management (AuM) reached a record $152bn in the first six months of the year, up from $143bn at the end of 2022. However, core earnings per share slumped to just 8.9 cents, from 24 cents the year before, due to significantly lower performance fee revenue as the result of the sharp reversal in markets around the March banking crisis.

The shares, trading at 238.8p prior to the results, had dropped to around the 200p level in the three weeks since - a reaction which Citi said "seemed harsh".

"While performance fee headwind remains [a] key near-term focus, we see management fee outlook as resilient, with improving diversification by asset and client mix," the bank said.

In valuation terms, Citi pointed out that the stock currently trades at under eight times forward earnings, more than a 25% discount to the long-term average.

"Our bull-bear analysis indicates shares are pricing in much weaker AuM and performance growth from current levels, which we view as unwarranted for underlying growth potential and client engagement over the medium term. We raise our target price to 270p and reiterate 'buy'."

Numis has upgraded its forecasts and retained its 'buy' stance on foreign exchange platform Wise after a stronger-than-expected start to the new financial year.

The broker has left its 900p target price unchanged for the stock, suggesting significant upside from Tuesday morning's price of 656.4p, up 1% on the day.

Wise reported in July that revenues in its first quarter were up 29% year-on-year £240m, while income surged 66% to £311m.

Numis said the figures resulted in 2.4% and 5% increases to its full-year sales and profit estimates, respectively. It now expects revenue to come in at £1.27bn for the year to March 2024, up from £0.96bn previously, while pre-tax profit is predicted to rise from £146.5m to £265.2m.

"The Wise equity story is about gaining share of a very large global market for personal and SME cross-border money transfers by being materially cheaper, faster and more convenient than the banks that still control the majority of the market," Numis said.

"As long as the customer and volume numbers indicate that Wise continues to gain share of the market and there is nothing suggesting that market dynamics are about to change materially, we continue to see our valuation well underpinned."

Looking ahead, the broker said that while new entrants to the market will likely continue to emerge, Wise will be "hard to match" in terms of price, speed and convenience.

More News
15 May 2024 16:03

UK dividends calendar - next 7 days

Thursday 16 May 
abrdn Property Income Trust Ltdex-dividend payment date
Alternative Income REIT PLCex-dividend payment date
Aquila European Renewables PLCex-dividend payment date
Balfour Beatty PLCex-dividend payment date
BlackRock Latin American Investment Trust PLCdividend payment date
BP PLCex-dividend payment date
Bunzl PLCex-dividend payment date
Churchill China PLCex-dividend payment date
EJF Investments Ltdex-dividend payment date
Essentra PLCex-dividend payment date
Fevertree Drinks PLCex-dividend payment date
FRP Advisory Group PLCex-dividend payment date
Greencoat UK Wind PLCex-dividend payment date
GSK PLCex-dividend payment date
Haleon PLCdividend payment date
Henderson Opportunities Trust PLCex-dividend payment date
Income & Growth VCT PLCex-dividend payment date
Irish Continental Group PLCex-dividend payment date
James Halstead PLCex-dividend payment date
Jarvis Securities PLCex-dividend payment date
Kingfisher PLCex-dividend payment date
M Winkworth PLCdividend payment date
Majedie Investments PLCex-dividend payment date
Manx Financial Group PLCex-dividend payment date
Mercantile Investment Trust PLCdividend payment date
Morgan Sindall Group PLCdividend payment date
Murray Income Trust PLCex-dividend payment date
Ocean Wilsons Holdings Ltdex-dividend payment date
Octopus Renewables Infrastructure Trust PLCex-dividend payment date
PageGroup PLCex-dividend payment date
Pershing Square Holdings Ltdex-dividend payment date
Princess Private Equity Holding Ltdex-dividend payment date
Property Franchise Group PLCex-dividend payment date
Prudential PLCdividend payment date
RHI Magnesita NVex-dividend payment date
Shell PLCex-dividend payment date
Spectris PLCex-dividend payment date
Supermarket Income REIT PLCdividend payment date
Target Healthcare REIT PLCex-dividend payment date
TClarke PLCex-dividend payment date
Tesco PLCex-dividend payment date
TwentyFour Select Monthly Income Fund Ltdex-dividend payment date
Unilever PLCex-dividend payment date
Vaalco Energy Incex-dividend payment date
Vector Capital PLCex-dividend payment date
Witan Investment Trust PLCex-dividend payment date
Friday 17 May 
AB Dynamics PLCdividend payment date
Barratt Developments PLCdividend payment date
Breedon Group PLCdividend payment date
Cairn Homes PLCdividend payment date
Direct Line Insurance Group PLCdividend payment date
Drax Group PLCdividend payment date
Finsbury Growth & Income Trust PLCdividend payment date
IMI PLCdividend payment date
Impact Healthcare REIT PLCdividend payment date
JPMorgan Japan Small Cap Growth & Income PLCdividend payment date
JPMorgan US Smaller Cos Investments Trust PLCdividend payment date
Kenmare Resources PLCdividend payment date
Luceco PLCdividend payment date
Morgan Advanced Materials PLCdividend payment date
Primary Health Properties PLCdividend payment date
Seneca Growth Capital VCT PLC - Class Bdividend payment date
Standard Chartered PLCdividend payment date
Monday 20 May 
Airea PLCdividend payment date
Ascential PLCex-dividend payment date
hVIVO PLCdividend payment date
Invesco Bond Income Plus Ltddividend payment date
Jupiter Fund Management PLCdividend payment date
Murray International Trust PLCdividend payment date
Tuesday 21 May 
Bridgepoint Group PLCdividend payment date
HgCapital Trust PLCdividend payment date
Lloyds Banking Group PLCdividend payment date
Old Mutual Ltddividend payment date
Wednesday 22 May 
Central Asia Metals PLCdividend payment date
Eurocell PLCdividend payment date
Harbour Energy PLCdividend payment date
London Stock Exchange Group PLCdividend payment date
Man Group PLCdividend payment date
Merchants Trust PLCdividend payment date
Phoenix Group Holdings PLCdividend payment date
Smith & Nephew PLCdividend payment date
Softcat PLCdividend payment date
  
Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
10 May 2024 09:52

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(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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3 May 2024 17:04

Ex-Odey portfolio manager Hanbury warns investors are 'buying blind'

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2 May 2024 13:48

UK shareholder meetings calendar - next 7 days

Friday 3 May 
Ashoka India Equity Investment Trust PLCGM re share issue
HSBC Holdings PLCAGM
Intercontinental Hotels Group PLCAGM
Mondi PLCAGM
More Acquisitions PLCAGM
Monday 6 May 
no events scheduled 
Tuesday 7 May 
Caledonia Mining Corp PLCAGM
CPPGroup PLCAGM
Just Group PLCAGM
Macfarlane Group PLC AGM
Plus500 LtdAGM
Supernova Digital Assets PLCAGM
Wednesday 8 May 
Airea PLCAGM
Antofagasta PLCAGM
Aston Martin Lagonda Global Holdings PLCAGM
Deltex Medical Group PLCAGM
Direct Line Insurance Group PLCAGM
Fidelity European Trust PLCAGM
Haleon PLCAGM
Jardine Matheson PLCAGM
JZ Capital Partners LtdEGM re investing in a secondary fund
Oscillate PLCAGM
Pershing Square Holdings LtdAGM
Rentokil Initial PLCAGM
WPP PLCAGM
Thursday 9 May 
Ascential PLCAGM
BAE Systems PLCAGM
Balfour Beatty PLCAGM
Barclays PLCAGM
CAB Payments Holdings PLCAGM
Catenai PLCGM re convertible loan note
Clarkson PLCAGM
FBD Holdings PLCAGM
Genel Energy plcAGM
Gym Group PLCAGM
Harbour Energy PLCAGM
Hiscox LtdAGM
IMI PLCAGM
Inchcape PLCAGM
Indivior PLCAGM
John Wood Group PLCAGM
Jupiter Fund Management PLCAGM
Logistics Development Group PLCAGM
Man Group PLCAGM
Morgan Advanced Materials PLCAGM
OSB Group PLCAGM
Public Policy Holding Co IncAGM
Rathbones Group PLCAGM
RM PLCAGM
Spire Healthcare Group PLCAGM
Synthomer PLCAGM
Uniphar PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
2 May 2024 09:48

LONDON BROKER RATINGS: Deutsche Bank likes TP ICAP but says sell CMC

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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1 May 2024 09:26

LONDON BROKER RATINGS: UBS double upgrades AJ Bell to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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19 Apr 2024 17:32

UK's FTSE 100 rises as traders ramp up rate cut bets

BoE's Ramsden more confident UK inflation risks are ebbing

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19 Apr 2024 17:03

LONDON MARKET CLOSE: Stocks tentative on rising Israel-Iran tensions

(Alliance News) - Stock prices in London closed up on Friday, as investors showed caution in reaction to Israel carrying out retaliatory strikes on the Iranian central province of Isfahan.

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19 Apr 2024 16:56

London close: Stocks mixed as investors watch Middle East newsflow

(Sharecast News) - London's stock markets closed in a mixed state on Friday as traders kept a close watch on escalating tensions in the Middle East.

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19 Apr 2024 12:02

LONDON MARKET MIDDAY: Stocks down on Israel attack on Isfahan, Iran

(Alliance News) - Stock prices in London were down at midday on Friday, as equity sentiment suffered by worries of a conflict escalation between Iran and Israel, after Iranian state media reported explosions in the province of Isfahan.

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19 Apr 2024 11:38

Man Group shares fall 5% on higher than expected outflows

April 19 (Reuters) - Man Group shares fell about 5% on Friday after the British hedge fund reported higher than expected client outflows.

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19 Apr 2024 09:26

LONDON BROKER RATINGS: Peel Hunt starts NatWest and Barclays at 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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19 Apr 2024 08:33

IN BRIEF: Positive markets offset outflows for Man Group in quarter

Man Group PLC - London-based active investment manager focused on private markets - Assets under management on March 31 are USD175.7 billion, up 4.9% from USD167.5 billion on December 31. Man Group suffers USD1.6 billion in net outflows in the first quarter of 2024, but records a positive investment performance of USD9.8 billion to create the rise in AuM. Alternative strategies see USD3.2 billion in net outflows in the recent quarter, balanced by net inflows of USD1.6 billion into Long-only strategies.

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19 Apr 2024 07:47

LONDON BRIEFING: Man Group assets up; 888 revenue above outlook

(Alliance News) - London's FTSE 100 is called to open lower on Friday, though oil prices got a boost, on fears of a conflict escalation in the Middle East.

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19 Apr 2024 07:42

Man Group reports 5% increase in Q1 AUM

(Sharecast News) - Investment management firm Man Group reported an improvement in assets under manager in the first quarter, according to a trading update released on Friday, but net outflows during the period caught investors by surprise, causing shares to drop sharply.

Read more

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