Quilter (QLT)

Sector:

Financials

Index:

FTSE 250

111.10p
   
  • Change Today:
      0.70p
  • 52 Week High: 111.30
  • 52 Week Low: 71.30
  • Currency: UK Pounds
  • Shares Issued: 1,404.11m
  • Volume: 1,723,940
  • Market Cap: £1,559.96m
  • RiskGrade: 118

JPMorgan downgrades Quilter, puts stock on 'negative catalyst watch'

By Michele Maatouk

Date: Tuesday 17 Jan 2023

LONDON (ShareCast) - (Sharecast News) - JPMorgan Cazenove downgraded Quilter on Tuesday to 'underweight' from 'neutral' and cut the price target to 74p from 83p, placing the stock on 'negative catalyst watch'.
"We expect negative flow momentum to continue in 1H23; the outlook remains uncertain and IFAs continue to consolidate flows on fewer platforms," JPM said.

"We also place Quilter on 'negative catalyst watch' as we are 8% below consensus on 2023 earnings per share, driven by higher expected costs, as we believe that the largest proportion of the cost savings targeted (£45m by 2024) will be back-end loaded."

JPM also argued that the valuation seems excessive, trading at 17.3x estimated 2023 EPS.

In the same note on wealth managers and platforms, JPM maintained its 'underweight' rating on Hargreaves Lansdown.

At 1300 GMT, Quilter shares were down 4.5% at 97.24p.

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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.

 

Quilter Market Data

Currency UK Pounds
Share Price 111.10p
Change Today 0.70p
% Change 0.63 %
52 Week High 111.30
52 Week Low 71.30
Volume 1,723,940
Shares Issued 1,404.11m
Market Cap £1,559.96m
RiskGrade 118

Quilter Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
77.49% above the market average77.49% above the market average77.49% above the market average77.49% above the market average77.49% above the market average
12.96% below the sector average12.96% below the sector average12.96% below the sector average12.96% below the sector average12.96% below the sector average
Price Trend
50.92% above the market average50.92% above the market average50.92% above the market average50.92% above the market average50.92% above the market average
34.48% above the sector average34.48% above the sector average34.48% above the sector average34.48% above the sector average34.48% above the sector average
Income
52.51% above the market average52.51% above the market average52.51% above the market average52.51% above the market average52.51% above the market average
22.39% below the sector average22.39% below the sector average22.39% below the sector average22.39% below the sector average22.39% below the sector average
Growth
70.15% below the market average70.15% below the market average70.15% below the market average70.15% below the market average70.15% below the market average
46.79% below the sector average46.79% below the sector average46.79% below the sector average46.79% below the sector average46.79% below the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 7
Sell 2
Strong Sell 1
Total 14
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Quilter Dividends

  Latest Previous
  Final Interim
Ex-Div 18-Apr-24 31-Aug-23
Paid 28-May-24 18-Sep-23
Amount 3.70p 1.50p

Trades for 03-May-2024

Time Volume / Share Price
16:38 30,873 @ 111.10p
16:36 2,672 @ 111.10p
16:36 2,863 @ 111.10p
16:35 694,242 @ 111.10p
16:35 1 @ 111.10p

Quilter Key Personnel

CFO Mark Satchel
CEO Steven Levin

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