Hargreaves Lansdown (HL.)

Sector:

Financials

Index:

FTSE 250

1,088.00p
   
  • Change Today:
      2.00p
  • 52 Week High: 1,153.00p
  • 52 Week Low: 694.00p
  • Currency: UK Pounds
  • Shares Issued: 474.32m
  • Volume: 2,799,701
  • Market Cap: £5,161m
  • RiskGrade: 176

Hargreaves Lansdown posts positive quarter ahead of its acquisition

By Josh White

Date: Tuesday 29 Oct 2024

LONDON (ShareCast) - (Sharecast News) - Hargreaves Lansdown reported a positive quarter for the three months ended 30 September on Tuesday, with assets under administration (AuA) reaching £157.3bn.
The FTSE 100 company , which agreed in August to be acquired by a private equity consortium for £5.4bn, said that represented an increase driven by £1.5bn in market growth and net new business inflows of £0.5bn, though slightly lower than the £0.6bn reported in the prior quarter.

It recorded a net addition of 18,000 new clients, a notable improvement from the 8,000 added in the first quarter of the 2024 financial year.

Most of the new clients joined through SIPP, ISA, and Active Savings accounts.

Client retention remained steady at 92.0%, while asset retention came in at 88.6%, both metrics slightly below Hargreaves Lansdown's longer-term targets.

Trading activity rose, with average monthly share dealing volumes hitting 738,000, up from 634,000 in the prior quarter.

Overseas transactions accounted for 20.2% of total trading - an increase from 18.3% in the first quarter.

Client cash balances also rose, ending the quarter at £12.7bn, primarily due to net selling activity by clients in September.

Quarterly revenue totaled £196.5m, up from £183.8m in the first quarter.

That growth was supported by higher platform revenue linked to the increase in AuA, alongside higher dealing volumes.

However, that was partially offset by reduced revenue from cash, as a result of a lower net interest margin.

"The proposed acquisition of Hargreaves Lansdown has been approved by shareholders and is now subject to certain outstanding regulatory approvals, with completion expected in the first quarter of 2025," said chief executive officer Dan Olley.

"In the meantime, we remain as committed as ever to supporting our clients with the very best service, experience and value, and on executing our strategy.

"We are particularly mindful of tomorrow's Budget, and will be on hand to support and guide our clients following any potential changes that are made."

At 0818 GMT, shares in Hargreaves Lansdown were up 0.18% at 1,089p.

Reporting by Josh White for Sharecast.com.

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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 1,088.00p
Change Today 2.00p
% Change 0.18 %
52 Week High 1,153.00p
52 Week Low 694.00p
Volume 2,799,701
Shares Issued 474.32m
Market Cap £5,161m
RiskGrade 176

HL. Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
4.60% above the market average4.60% above the market average4.60% above the market average4.60% above the market average4.60% above the market average
59.63% below the sector average59.63% below the sector average59.63% below the sector average59.63% below the sector average59.63% below the sector average
Price Trend
88.86% above the market average88.86% above the market average88.86% above the market average88.86% above the market average88.86% above the market average
80.53% above the sector average80.53% above the sector average80.53% above the sector average80.53% above the sector average80.53% above the sector average
Income
51.81% above the market average51.81% above the market average51.81% above the market average51.81% above the market average51.81% above the market average
35.38% below the sector average35.38% below the sector average35.38% below the sector average35.38% below the sector average35.38% below the sector average
Growth
13.92% below the market average13.92% below the market average13.92% below the market average13.92% below the market average13.92% below the market average
14.56% above the sector average14.56% above the sector average14.56% above the sector average14.56% above the sector average14.56% above the sector average

What The Brokers Say

Strong Buy 4
Buy 2
Neutral 4
Sell 3
Strong Sell 2
Total 15
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 03-Oct-24 29-Feb-24
Paid 01-Nov-24 28-Mar-24
Amount 30.00p 13.20p

Trades for 31-Oct-2024

Time Volume / Share Price
08:08 380,000 @ 1,086.00p
17:00 380,000 @ 1,086.76p
17:00 380,000 @ 1,086.00p
16:35 10,862 @ 1,088.00p
16:35 4,213 @ 1,088.00p

HL. Key Personnel

CEO Dan Olley
CFO Amy Stirling
Chair Alison Platt

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