Hargreaves Lansdown (HL.)

Sector:

Financials

Index:

FTSE 100

863.60p
   
  • Change Today:
      0.20p
  • 52 Week High: 1,457.50p
  • 52 Week Low: 740.80p
  • Currency: UK Pounds
  • Shares Issued: 474.32m
  • Volume: 762,262
  • Market Cap: £4,096.22m
  • RiskGrade: 176

Hargreaves battles 'industry-wide slowdown in retail flows'

By Oliver Haill

Date: Thursday 11 Oct 2018

LONDON (ShareCast) - (Sharecast News) - Hargreaves Lansdown reported an uncertain market environment and weak investor sentiment in the three months since the start of July, with assets under administration growing 2.7%.
In what was the first quarter of its financial year, the investment and pensions platform won £1.3bn of net new business, down 16% compared to the same period last year.

Along with £1.2bn of market gains, this lifted AuA to £94.1bn from the £91.6bn at the end of its past financial year. For the full year the market expects the FTSE 100 company to add £8.2bn of net flows.

This combined to to drive net revenue for the period to £120.8m, up 16% on the same quarter last year and representing almost 24% of the average analyst's full year forecast for £505m.

It was a "solid start", said chief executive Chris Hill, with 29,000 new clients welcomed, to lift client numbers to 1.12m by the end of September.

"The past quarter has seen an uncertain market environment and weak investor sentiment resulting in an industry-wide slowdown in net retail flows. Despite this backdrop, we believe the strength of our business model positions us well for when sentiment improves."

He said new business was driven by continued investment in digital marketing, new clients and "ongoing wealth consolidation onto our platform".

There were £100m worth of cash on its new Active Savings 'marketplace' service, where clients can monitor and move cash between the best-value savings accounts offered on the high street, with three more banks added to the service during the period.

Shares in Hargreaves hit an all-time high late last month, having overcome wobbles in the summer when the Financial Conduct Authority said investment platforms may lose the right to charge exit fees in order to ease customer switching.

The regulator found that many consumers, some of which were not aware of fees charged, would benefit from a switch but found it difficult and time-consuming to do so.

The shares have since fallen 14% from the 2,280p high and on Thursday dropped further in early trading, falling almost 4% to 1,872p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

HL. Market Data

Currency UK Pounds
Share Price 863.60p
Change Today 0.20p
% Change 0.02 %
52 Week High 1,457.50p
52 Week Low 740.80p
Volume 762,262
Shares Issued 474.32m
Market Cap £4,096.22m
RiskGrade 176

HL. Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
36.88% below the market average36.88% below the market average36.88% below the market average36.88% below the market average36.88% below the market average
64.52% below the sector average64.52% below the sector average64.52% below the sector average64.52% below the sector average64.52% below the sector average
Price Trend
28.37% below the market average28.37% below the market average28.37% below the market average28.37% below the market average28.37% below the market average
22.73% below the sector average22.73% below the sector average22.73% below the sector average22.73% below the sector average22.73% below the sector average
Income
34.80% above the market average34.80% above the market average34.80% above the market average34.80% above the market average34.80% above the market average
41.03% below the sector average41.03% below the sector average41.03% below the sector average41.03% below the sector average41.03% below the sector average
Growth
96.98% above the market average96.98% above the market average96.98% above the market average96.98% above the market average96.98% above the market average
96.67% above the sector average96.67% above the sector average96.67% above the sector average96.67% above the sector average96.67% above the sector average

What The Brokers Say

Strong Buy 7
Buy 1
Neutral 10
Sell 0
Strong Sell 3
Total 21
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HL. Dividends

  Latest Previous
  Final Interim
Ex-Div 22-Sep-22 03-Mar-22
Paid 24-Oct-22 01-Apr-22
Amount 27.44p 12.26p

Trades for 25-Nov-2022

Time Volume / Share Price
17:01 4,150 @ 852.09p
17:01 4,150 @ 852.26p
16:59 5,140 @ 855.89p
16:45 181 @ 859.00p
16:45 181 @ 859.00p

HL. Key Personnel

CEO Christopher Hill
CFO Amy Stirling

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