JHG

Janus Henderson Group PLC

Finance/Real Estate


Presented:08/13/2018
Price:$27.05
Cap:$5.42B
Current Price:$39.96
Cap:$6.36B

Presented

Date08/13/2018
Price$27.05
Market Cap$5.42B
Ent Value$5.21B
P/E Ratio6.4x
Book Value$24.92
Div Yield5.15%
Shares O/S200.41M
Ave Daily Vol779,042
Short Int4.26%

Current

Price$39.96
Market Cap$6.36B
Janus Henderson Group Plc is a holding company, which engages in the provision of asset management services. It offers investment solutions including equities, quantitative equities, fixed income, multi-asset, and alternative asset class strategies. The company was founded in 2017 is headquartered in London, the United Kingdom.

Publicly traded companies mentioned herein: Dai-Ichi Life Holdings Inc (8750 JP), Janus Henderson Group PLC (JHG)

Highlights

The presenter is short shares of Janus Henderson (JHG), expecting to see continued fund outflows, as opposed to the flat flow situation expected by Street models. The presenter sees evidence of potential culture clashes following the Janus and Henderson merger, with coincident executive turnover. Investment performance has been lackluster, adding to the negative momentum to which the presenter ascribes. Technical dynamics also appear unfavorable, with the largest shareholder Dai-Ichi Life unlikely to add to its position, and the Australian holderbase potentially wary as legacy Henderson management continue to depart. The presenter models $2.75 in next year earnings, and ascribes an 8x - 9x P/E multiple for a low-$20s price target.

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Idea Discussion

Commentor 1 - 2 weeks ago

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