OML LN

Old Mutual PLC

Finance/Real Estate, Event Driven/Special Sit


Presented:02/12/2018
Price:£2.32
Cap:$0.00B
Current Price:£2.11
Cap:$0.02B

Presented

Date02/12/2018
Price£2.32
Market Cap$0.00B
Ent Value$0.00B
P/E Ratio13.98x
Book Value£1.63
Div Yield3.04%
Shares O/S0.00M
Ave Daily Vol12,043,121
Short IntN/A

Current

Price£2.11
Market Cap$0.02B
Old Mutual Plc is an international long-term savings, investment and protection company. It serves the growing insurance and investment needs of local customers, companies and their advisors. The company operates through the following businesses: The Long-Term Savings business offers life assurance, pensions and investment products and operates in southern Africa, Europe, Asia and Latin America. The Banking business provides a wide range of wholesale and retail banking services and a growing insurance, asset management and wealth management offering through five main business clusters: Nedbank Capital, Nedbank Corporate, Nedbank Business Banking, Nedbank Retail and Nedbank Wealth. The Short-Term Insurance business provides short-term insurance products and services in southern Africa through Mutual & Federal. Old Mutual was founded in 1845 and is headquartered in London, the United Kingdom.

Publicly traded companies mentioned herein: Nedbank Group Ltd (NED SJ), Old Mutual PLC (OML LN; OML SJ)

Highlights

When Bruce Hemphill took over as Old Mutual’s Group CEO in 4Q 2015 and embarked on a strategic review of the business, the presenter said the expectation in the market was that some smaller assets/ businesses would be sold. When the review resulted in the Managed Separation plan, it surprised the Street and investors alike. With the stock trading at ~230 GBp (3,800 ZAr) , he likes the risk/ reward and thinks the separation of the businesses will unlock meaningful value for shareholders as the financial conglomerate/ holding company discount erodes. Based on his sum-of-the-parts model, Old Mutual is worth 30% - 35% more than its present value, and the majority of the separation activity is scheduled to take place in 2018.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Request access to DeMatteo Research for full access

Request Access

Already have an account?

Idea Discussion

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Idea Discussions display submitted commentary from our investor community.

To read and participate in the discussion with the presenter and investor base, request access to DeMatteo

Request Access

Already have an account?

An error occurred loading this content. Try again later or contact us.