Hot Stocks: ANZ, South32, Perpetual, Downer EDI, Ventia, HMC Capital
A snapshot of the stocks on the move, featuring ANZ, South32, Perpetual, Downer EDI, Ventia and HMC Capital.
Read MoreTag: PPT
Perpetual warns of $488m tax hit from KKR deal
Perpetual (ASX:PPT) has provided an update on its proposed scheme of arrangement with KKR, revealing that tax complications could reduce shareholder cash proceeds and increase the company's potential tax liability.
Read MorePerpetual sees solid AUM growth despite market challenges
Perpetual Limited (ASX:PPT) has reported a solid first quarter for FY25, with Assets Under Management (AUM) rising by 3% to $222.3 billion, driven by market gains and net inflows, despite adverse currency impacts.
Read MorePerpetual’s rocky road ahead
Investment manager Perpetual (ASX:PPT) on Monday delivered a mixed bag of news ahead of its full-year results for 2023-24, due out on Thursday.
Read MorePerpetual sees $12.4 billion drop in AUM
Perpetual (ASX:PPT) has reported a significant decrease in its assets under management (AUM), which fell by $12.4 billion in the fourth quarter, ending at $215 billion as of June 30. This drop contrasts with the $227.4 billion reported as of March 31.
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Perpetual confirms breakup with KKR
Perpetual (ASX:PPT) has confirmed the breakup deal it has struck with the US private equity giant, KKR.
Read MorePerpetual undergoes split and takeover
Sixteen months after swallowing rival fund manager Pendal in a cash and shares deal worth around $2 billion, Perpetual (ASX:PPT) is, in turn, being taken over and split up in a deal worth $1.5 billion.
Read MorePerpetual rejects Soul Pattinson’s offer
Perpetual (ASX:PPT) has rejected Washington H. Soul Pattinson's (ASX:SOL) all-paper offer, which includes no cash.
Read MorePerpetual Motion in the Funds Management Space
Perpetual has rejected an unwanted $30-per-share takeover offer valuing it at $1.68 billion from a consortium comprising Baring Private Equity Asia and Regal Partners.
Read MorePPT – UBS rates the stock as Neutral
The Neutral rating and $37.65 target are retained.
Read MorePerpetual Makes a Move on Pendal
Rationalisation afoot in the local funds management industry with Sydney-based Perpetual revealing an offer to pay $2.4 billion for Pendal, the old investment arm of Westpac.
Read MorePPT – Citi rates the stock as Neutral
Target price lifts to $40.40 from $39.40. Neutral rating retained.
Read MoreThe investment opportunity in innovation and change
A keynote presentation on technology will be provided by Thomas Rice, Portfolio Manager for Perpetual Limited’s Global Innovation Share Fund.
Read MorePPT – Morgans rates the stock as Add
The broker maintains its Add rating and lifts its target to $42.21 from $41.63.
Read MorePPT – Credit Suisse rates the stock as Outperform
Perpetual’s business update was “disappointing”. As a result, earnings have been downgraded by -4-6% across the forecast period. Outperform rating is maintained with the target falling to $37.50 from $39.
Read MorePPT – Credit Suisse rates the stock as Upgrade to Outperform from Neutral
Credit Suisse now assesses Perpetual is offering value, amid a reduced attrition risk and a likely moderation in outflows.
Read MorePPT – Credit Suisse rates the stock as Upgrade to Outperform from Neutral
Credit Suisse now assesses Perpetual is offering value, amid a reduced attrition risk and a likely moderation in outflows.
Read MorePPT – Credit Suisse rates the stock as Neutral
Perpetual has acquired 75% of Barrow Hanley for $465m along with a $265m equity raising. Credit Suisse factors in little growth in the Barrow Hanley business although there is upside if the distribution capability in the US can be refined and expanded into Europe/Asia.
Read MorePerpetual Bets Big On “Transformational” US Expansion
Perpetual has confirmed that it is moving to buy a US fund manager in a $465 million deal, and is raising new capital from local shareholders to do so.
Read MorePPT – Credit Suisse rates the stock as Neutral
Improving fund flows in April indicates to Credit Suisse that assumptions were too conservative. The broker now upgrades FY20 estimates by 2% and FY21-22 Buy 9-12%.
Read MoreFunds Under Management Slide At Perpetual
As was widely expected by analysts, Financial services company Perpetual saw a sharp slump in the amount of funds it had under management in the March quarter.
Read MorePerpetual Kicks Off 2020 With US Expansion
A year after first outlining its acquisition strategy, Perpetual Ltd has landed Trillium, and brokers look forward to the company’s expansion offshore.
Read MorePPT – Credit Suisse rates the stock as Neutral
Funds under management totalled $26.3bn at the end of December, up 1% during the quarter. This was ahead of Credit Suisse estimates and the company has reported its first positive quarter of flows in nearly three years.
Read MorePPT – UBS rates the stock as Neutral
The investor briefing signalled to UBS that the Perpetual Private and Perpetual Corporate Trust divisions are well-positioned for solid growth. In comparison, prospects in Perpetual Investments remain more mixed, given a softer performance across the key Australian equity franchise.
Read MorePPT – Citi rates the stock as Neutral
The new CEO is actively looking for acquisitions. Citi thinks further expansion into global equities is probably on his radar. No surprise, since the core business in Australia continues to suffer.
Read MoreHeadwinds Build For Insurers And Wealth Managers
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.
Read MorePPT – UBS rates the stock as Sell
The company is due to report its first-half result on February 21. UBS will be looking for potential strategic responses to weak operating trends.
Read MorePerpetual Fails In Bid To Breakup Soul Patts-Brickworks
Perpetual, the Sydney fund manager, is facing a multi-million dollar costs bill after losing its long running court case to try and break apart the Washington H. Soul Pattinson and Brickworks cross shareholdings that is the core business of the multi-millionaire Milner family.
Read MoreAGMs: Perpetual Looking At Flattish Interim Profit
Perpetual says it expects net profit in the current half year to be $35 million to $40 million, provided equity markets remain stable.
Read MoreBids: Surprise Private Equity Bid For Perpetual
Out of the blue a private equity attempt to snaffle listed funds manager and trustee, Perpetual Ltd, with no real rationale given for why the deal should be done.
Read MorePerpetual Loses CEO
Perpetual CEO, David Deverall, did the right thing by his employer yesterday in signalling his decision to stand down next March.
Read MorePerpetual Expects 10% First Half Profit Gain
Investment management company Perpetual (PPT) announced at its AGM today that it expects a 10% increase in operating profit for the first six months of the financial year, below market expectations.
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