IFL – Credit Suisse rates the stock as Outperform
Credit Suisse assesses there is significant demand for advice and a large opportunity for a firm such as IOOF Holdings. Outperform reiterated. Target is $5.
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At IOOF, we have been helping Australians secure their financial independence for over 170 years, and have grown to become a leading provider of quality financial advice, products and services
Credit Suisse assesses there is significant demand for advice and a large opportunity for a firm such as IOOF Holdings. Outperform reiterated. Target is $5.
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IOOF’s $1.4 billion acquisition of MLC Wealth Management from the National Australia Bank will go ahead after the competition watchdog cleared the deal on Monday.
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Melbourne-based wealth manager IOOF is buying the National Australia Bank’s final remaining wealth business for $1.5 billion, a move that completes big four banks divestment from the super, wealth management, and insurance businesses.
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IOOF Holdings has finally completed the acquisition of the ANZ P&I business, and provided softer-than-expected first half guidance.
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It seems IOOF is back in the good books of regulators after APRA okayed the $825 million purchase of ANZ Bank’s superannuation business.
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Bell Potter is critical of wealth manager IOOF Holdings, which is yet to provide updated details on earnings and synergies from its reinvigorated ANZ P&I transaction.
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IOOF 's net flows held up reasonably well in the Sep Q under the circumstances, Macquarie notes, with platform inflows offset by outflows from advice and investment management.
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A decision by wealth manager IOOF to give shareholders a surprise 7 cents a share special dividend yesterday raised eyebrows and helped send the shares down 6.9% to $4.84.
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As FY20 unfolds, falling global bond yields will produce headwinds for the general insurance sector while wealth managers could enjoy a short-term uplift to recurring revenue.
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Troubled wealth group IOOF obviously found it impossible to recruit a new CEO externally (as did rival AMP) so it has settled for the stand in bloke to take up the gig permanently.
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