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    HL.   GB00B1VZ0M25

HARGREAVES LANSDOWN PLC

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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Quilter boosts assets with revamped investment platform

04/21/2021 | 02:04am EDT

(Reuters) - Wealth manager Quilter reported a 26% year-on-year jump in total assets for the first quarter on Wednesday, driven by a rebound in market sentiment because of mass vaccinations and COVID-19 stimulus measures.

Quilter, one of Britain's biggest investment services providers, said assets under management and administration (AUMA) totalled 119.9 billion pounds ($167 billion) as of March 31, compared to 95.3 billion pounds a year earlier and 117.8 billion pounds at the end of 2020.

Quilter Investment Platform, the company's largest business which completed the upgrade of its platform technology including repricing earlier this year, grew AUMA by nearly a third to 64.3 billion pounds.

The division provides advice-based wealth management products and services in the UK, serving a largely affluent customer base.

Much like its rivals, Quilter has seen a sharp rise in assets since early 2020, when fears over the economic impact from the pandemic prompted panic withdrawals.

The company, a spin-off of Anglo-South African insurer Old Mutual, earlier this month agreed a sale of its international business to focus more on the British market where it competes with larger rivals, such as St James' Place, Standard Life Aberdeen and Hargreaves Lansdown.

Quilter's net inflows increased to 1.2 billion pounds in the three months ended March 31 from 0.5 billion pounds last year.

Household savings in the UK re
ached a record last year amid lockdowns, official data showed last month. (https://reut.rs/32w39hN)

($1 = 0.7180 pounds)

(Reporting by Muvija M in Bengaluru; Editing by Tomasz Janowski)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HARGREAVES LANSDOWN PLC 1.27% 1640.5 Delayed Quote.7.57%
QUILTER PLC 2.01% 157.6 Delayed Quote.2.60%
ST. JAMES'S PLACE PLC 1.40% 1446.5 Delayed Quote.27.61%
STANDARD LIFE ABERDEEN PLC 2.19% 284.7 Delayed Quote.1.21%
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Financials
Sales 2021 635 M 896 M 896 M
Net income 2021 309 M 436 M 436 M
Net cash 2021 378 M 533 M 533 M
P/E ratio 2021 25,1x
Yield 2021 3,19%
Capitalization 7 772 M 10 962 M 10 965 M
EV / Sales 2021 11,6x
EV / Sales 2022 12,5x
Nbr of Employees 1 691
Free-Float 69,9%
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Technical analysis trends HARGREAVES LANSDOWN PLC
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 19
Average target price 1 793,65 GBX
Last Close Price 1 640,50 GBX
Spread / Highest target 37,0%
Spread / Average Target 9,34%
Spread / Lowest Target -8,56%
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Managers and Directors
NameTitle
Christopher Frederick Hill Chief Executive Officer & Executive Director
Philip Michael Johnson Chief Financial Officer & Executive Director
Deanna Watson Oppenheimer Non-Executive Chairman
Mark William Dampier Head-Investment Research
Robert Byett Group Director-Risk & Compliance
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