INSIGNIA FINANCIAL LIMITED (IFL)
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IFL - INSIGNIA FINANCIAL LIMITED

FNArena Sector : Wealth Management & Investments
Year End: June
GICS Industry Group : Diversified Financials
Debt/EBITDA: 3.3
Index: ASX200 | ASX300 | ALL-ORDS

IOOF Holdings is an Australian finance company providing investment management, superannuation and trustee services. Founded in 1846 as a friendly society, it demutualised in 2002 and listed on the ASX in 2003.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.70

25 Jul
2024

0.020

OPEN

$2.64

0.75%

HIGH

$2.71

3,000,143

LOW

$2.62

TARGET
$2.45 -9.3% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . AVC . BVS . CGF . CVW . ENN . GDC . GDG . GQG . HMC . HUB . IFT . IRE . KAM . KSL . MAF . MFG . MQG . NGI . NWL . PAC . PNI . PPS . PPT . PTM . QAL . RPL . RZI .
FNARENA'S MARKET CONSENSUS FORECASTS
IFL: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 1.3 31.2 xxx
DPS (cps) xxx 19.8 18.2 xxx
EPS Growth xxx - 77.9% 100.0% xxx
DPS Growth xxx - 16.1% - 8.2% xxx
PE Ratio xxx N/A 8.6 xxx
Dividend Yield xxx N/A 6.8% xxx
Div Pay Ratio(%) xxx 1584.0% 58.3% xxx

Dividend yield today if purchased 3 years ago: 4.65%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 7.42

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 08/03 - ex-div 9.3c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx1.3
DPS All xxxxxxxxxxxxxxx19.8
Sales/Revenue xxxxxxxxxxxxxxx1,944.8 M
Book Value Per Share xxxxxxxxxxxxxxx352.7
Net Operating Cash Flow xxxxxxxxxxxxxxx23.7 M
Net Profit Margin xxxxxxxxxxxxxxx0.23 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx0.19 %
Return on Invested Capital xxxxxxxxxxxxxxx0.13 %
Return on Assets xxxxxxxxxxxxxxx0.08 %
Return on Equity xxxxxxxxxxxxxxx0.19 %
Return on Total Capital xxxxxxxxxxxxxxx4.81 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-101.7 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx31 M
Long Term Debt xxxxxxxxxxxxxxx907 M
Total Debt xxxxxxxxxxxxxxx937 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx506 M
Price To Book Value xxxxxxxxxxxxxxx0.80

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx19.5 M
Capex % of Sales xxxxxxxxxxxxxxx1.00 %
Cost of Goods Sold xxxxxxxxxxxxxxx731 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,054 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx282 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.5

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

23/07/2024

5

Underweight

$2.30

-14.81%

As part of a June quarter update, management at Insignia Financial provided new FY24 profit (UNPAT) guidance which beat Morgan Stanley and consensus forecasts by 14% and 9%, respectively.

In the June quarter, platform net outflows of -$831m were better than the -$1,729 anticipated by the broker. Funds under management (FUM) of $222bn also exceeded forecasts by the analysts and consensus for $218bn and $215bn, respectively.

Less positively, the broker suggests a new (material) $188m pre-tax increase in remediation provision (funded via an existing debt facility and cash) will stretch the balance sheet.

Underweight. Target $2.30. Industry view: In-Line.

FORECAST
Morgan Stanley forecasts a full year FY24 dividend of 17.80 cents and EPS of 28.00 cents.
Morgan Stanley forecasts a full year FY25 dividend of 18.00 cents and EPS of 29.00 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

11/07/2024

2

Overweight

$2.80

3.70%

Jarden assesses the higher-for-longer possibility for domestic interest rates on the wealth management sector.

The broker trims the EPS forecasts across most of the wealth and asset management coverage, accounting for higher domestic interest rates, strong 4Q24 global equity returns against weaker domestic returns and a higher Australian dollar.

Jarden revises the Insignia Financial EPS forecasts by -1.6 for FY24 and -0.1% for FY25.

Overweight rating unchanged and the target price lowered to $2.80 from $2.95.

FORECAST
Jarden forecasts a full year FY24 dividend of 20.30 cents and EPS of 29.70 cents.
Jarden forecasts a full year FY25 dividend of 22.70 cents and EPS of 30.40 cents.
Access Stockbroker Research History >

IFL STOCK CHART

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