Quilter (QLT)

Sector:

Financials

Index:

FTSE 250

143.40p
   
  • Change Today:
    -0.30p
  • 52 Week High: 148.20
  • 52 Week Low: 82.10
  • Currency: UK Pounds
  • Shares Issued: 1,404.11m
  • Volume: 1,407,102
  • Market Cap: £2,013.49m
  • RiskGrade: 118

Shares jump as Quilter scores return to net inflows

By Abigail Townsend

Date: Wednesday 29 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Wealth manager Quilter beat expectations on Wednesday after the end of 2019 saw it return to net inflows.
Updating investors on fourth-quarter trading, the former Old Mutual Wealth business said that assets under management were £110.4bn at the year end, a 13% increase on 31 December 2018. Gross sales reached £3.5bn in the final quarter of the year, a 17% improvement, while net client cash flow inflow was £0.5bn.

Paul Feeney, chief executive, said: "2019 was a good year for market performance but a challenging year for net client flows. We are pleased to finish the year in a positive position. Net inflows of £0.3bn for the year represented a sharp turnaround from the net outflow of £0.2bn for the nine months to end September."

Quilter also confirmed that it will re-platform the Old Mutual adviser platform over the weekend of 22 and 23 February.

Feeney conceded that net flows into the Wealth Solutions arm were subdued ahead of migrating advisors and customers to the new UK platform. "This is turn led to more modest flows into Quilter Investors."

But he insisted: "Our new UK platform will be transformational for Quilter. It has taken time to get to this point and we are excited about the ability to drive further business growth once we have fully migrated onto the new platform by the end of this summer."

Ben Williams, analyst at Liberum, said he had expected fourth quarter net flows of -£0.2bn and AUM of £108.4bn.

"We continue to highlight the growth of this sales machine through 2019, and expect the net flows to follow this year and next, once the platform transformation is done," he added.

Quilter was spun out of Old Mutual in June 2018 and re-focused on two divisions, advice and wealth management, and wealth platforms.

Shares in Quilter were ahead 6% at 170.60p as at 1330 GMT.

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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 143.40p
Change Today -0.30p
% Change -0.21 %
52 Week High 148.20
52 Week Low 82.10
Volume 1,407,102
Shares Issued 1,404.11m
Market Cap £2,013.49m
RiskGrade 118

Quilter Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
41.58% above the market average41.58% above the market average41.58% above the market average41.58% above the market average41.58% above the market average
39.45% below the sector average39.45% below the sector average39.45% below the sector average39.45% below the sector average39.45% below the sector average
Price Trend
91.49% above the market average91.49% above the market average91.49% above the market average91.49% above the market average91.49% above the market average
89.38% above the sector average89.38% above the sector average89.38% above the sector average89.38% above the sector average89.38% above the sector average
Income
30.92% above the market average30.92% above the market average30.92% above the market average30.92% above the market average30.92% above the market average
41.54% below the sector average41.54% below the sector average41.54% below the sector average41.54% below the sector average41.54% below the sector average
Growth
63.69% below the market average63.69% below the market average63.69% below the market average63.69% below the market average63.69% below the market average
39.81% below the sector average39.81% below the sector average39.81% below the sector average39.81% below the sector average39.81% below the sector average

What The Brokers Say

Strong Buy 2
Buy 3
Neutral 7
Sell 2
Strong Sell 0
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
  Interim Final
Ex-Div 29-Aug-24 18-Apr-24
Paid 23-Sep-24 28-May-24
Amount 1.70p 3.70p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 858,360 @ 143.40p
16:35 183 @ 143.40p
16:35 5,745 @ 143.40p
16:35 4,599 @ 143.40p
16:35 1,146 @ 143.40p

Quilter Key Personnel

CFO Mark Satchel
CEO Steven Levin

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