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Thursday newspaper share tips: Vertu Motors, Old Mutual

Thu, 02nd Jun 2016 13:33

(ShareCast News) - Car dealer Vertu Motors has had a "Buy" opinion placed on it by the Telegraph's Questor column, which cites likely improvements to next year's results and broker upgrades after news of a recent deal. The Gateshead-based outfit said on Wednesday that it had nabbed five car dealerships for £18.7m as it continued with its expansionist plans. It added Toyota to its stable of brands for the first time."This," wrote Questor, "means the company's management has completed a large proportion of a promised £26m of acquisition deals outlined after a fundraise in March ahead of time, and there are expected to be more opportunities to buy."In addition to pointing out the likely benefits of this latest spree to Vertu's next-year numbers, and earnings upgrades by brokers, Questor said Vertu was already known as a steady performer.It had delivered annual growth in the past nine half-year periods."It can benefit from organic growth and mergers and acquisitions in the coming months, as the market for cars remains favourable," the column said."The rise of consumer finance, particularly in a low-interest rate environment, is also boosting business," it added.Vertu's shares were presently trading at an almost 12-month low of about 56p, down from about 79p in January.Questor observed that the car dearler's consensus target price for the next 12 months was 93.5p a share, with at least one coming in as high as 100p.Meantime, the Financial Times' Lex column wrote that Old Mutual's proposal to bump-up chief executive Bruce Hemphill's incentive plan was not such a daft idea.The London-domiciled company -- whose shares have gained a lacklustre 4% over the past 10 years -- had underperformed peers Legal & General and Prudential."In response," wrote Lex, "it has proposed bumping up the maximum long-term bonus of its chief executive from 250% of base salary per year to 1000% over three years."But the column noted an unusual caveat -- Hemphill must first deliver on plans to break the company into four elements by end-2018. Success would duly see him out of a job.These constituent parts would be US asset management, UK wealth management, a South African bank and an emerging markets insurer.Lex noted the rewards on the table for Hemphill appeared eye-popping, but observed they were no more so than those on offer at rivals.RSA Insurance's maximum bonus was 230% a year, while Standard Life's was 500% and Prudential's came in at 400%.Half of Hemphill's proposed bonus would be paid a year after Old Mutual split, and its payment depended on several performance benchmarks at the new standalone businesses being met."Even a modest improvement in Old Mutual's valuation would translate into big benefits for shareholders," said Lex, observing the shares have long traded at a discount to its peers'.The column noted application of an average peer valuation of 12.3-times on 2017 earnings for Old Mutual would see its shares priced at about 236p. They presently traded around 178p.Lex contended critics of Hemphill's incentivisation should ask themselves whether they preferred to spend £9m for £2.8bn of additional value, or something else.The alternative, it argued, was for Old Mutual to "suffer another decade of stagnation."

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17 Feb 2017 09:19

Friday broker round-up

(ShareCast News) - AstraZeneca: Jefferies reiterates Buy with a target price of 5250p. BT Group: Jefferies reiterates Hold with a target price of 325p. Standard Life: Macquarie reiterates Outperform with a target price of 450p. Cobham: Goldman Sachs reiterates Sell with a target price of 88p. Dra

13 Feb 2017 09:29

BROKER RATINGS SUMMARY: Morgan Stanley Raises AB Foods To Overweight

9 Feb 2017 17:19

Britain's FTSE rises on insurers and banks, mid-cap index has record close

* FTSE 100 up 0.5 pct * Insurance, financials support index higher * FTSE 250 closes at record level * Thomas Cook suffers on cautious outlook * Miners tumble as copper prices turn down (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Mark

9 Feb 2017 16:07

Sector movers: Financials, insurers pace gains as interest rates rise

(ShareCast News) - Interest rate sensitive stocks such as life insurers and banks recovered some of their poise as government bond yields bounced back from their recent lows. Significantly, traders cited comments from US president Trump during the afternoon saying he would have "something phenomenal

9 Feb 2017 10:56

Top Thomas Cook shareholder opposes firm over pay plans at AGM

LONDON, Feb 9 (Reuters) - Standard Life Investments, the fund arm of insurer Standard Life, said on Thursday it had voted against the re-election of the board members who set pay at holiday firm Thomas Cook after it disagreed with their plans. SLI, the second-biggest investor in Thomas Cook

1 Feb 2017 15:11

UPDATE 2-Investor Standard Life seeks change at Sports Direct, Volkswagen

* Has "major concerns" about Sports Direct remuneration policy * VW needs more board independence * WPP has made progress in succession planning * Monitoring BHP compensation plans for Samarco dam disaster (Adds comment from VW, Standard Life on VW bond ownership) By Car

26 Jan 2017 11:22

Standard Life's UK pensions chief steps down

(ShareCast News) - Standard Life pensions and savings chief Paul Matthews will retire from the life insurer after 28 years at the company. Matthews, who will step down from the board at the start of March, will be replaced by Barry O'Dwyer, currently chief executive of Standard Life Assurance, just

26 Jan 2017 10:27

Standard Life UK & Europe Pensions & Savings Head To Retire In August

24 Jan 2017 16:16

Tuesday broker round-up

(ShareCast News) - SSE: Macquarie reiterates outperform with a target price of 1735p. Easyjet: Numis reiterates hold, 1050p target. William Hill: UBS downgrades to sell with a 240p target. Standard Life: UBS downgrades to sell with a 310p target. Beazley: JP Morgan reiterates overweight with a 46

24 Jan 2017 11:23

MOVES-Standard Life Investments appoints governance director

LONDON, Jan 24 (IFR) - Standard Life Investments, the UK-based investment manager, has appointed Deborah Gilshan as governance and stewardship director to strengthen its ESG investment team. Gilshan will report to Euan Stirling, head of stewardship and ESG (environmental, social and governa

24 Jan 2017 09:45

UBS downgrades Standard Life due to GARS fund outflows

(ShareCast News) - UBS downgraded Standard Life to 'sell' from 'neutral' and lowered its price target to 310p from 320p on expected earnings pressures from increased outflows from Standard Life Investments. The Swiss bank changed its rating on its expectation that earnings pressure will emerge in 20

13 Dec 2016 13:12

Tuesday broker round-up

(ShareCast News) - British Land: Barclays reiterates overweight with a target price of 740p. GlaxoSmithKline: UBS reiterates neutral, 1600p target. Reckitt Benckiser: Jefferies reiterates buy with a 7750p target. GB Group: Berenberg reiterates buy with a 340p target. Great Portland Estates: Barcl

13 Dec 2016 11:19

MOVES-Standard Life hires Struthers as head of investments

By Steve Slater LONDON, Dec 13 (IFR) - Standard Life Investments has hired Archie Struthers from Aberdeen Asset Management to be its head of investments. Struthers will join Standard Life Investments on January 9. He was global head of investment solutions at Aberdeen. Struthers

13 Dec 2016 11:03

Standard Life Hires Head Of Investments From Aberdeen Asset Management

13 Dec 2016 10:11

Britain's FTSE edges higher though miners drop

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets) * FTSE 100 up 0.3 pct * Miners drop ahead of Fed rate decision * Standard Life falls after downgrade By Kit Rees LOND

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Thursday newspaper share tips: Vertu Motors, Old Mutual

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