IFL - who's got the goss?

[macduffy]

IFL now trading above $8 now.

No recent news so probably a sector thing with interest in the Aussie fund managers generally.

I continue to hold.

[COLIN]

IFL now trading above $8 now.

No recent news so probably a sector thing with interest in the Aussie fund managers generally.

I continue to hold.

Yes, aren't we glad we held on, McD.

I haven't picked up any hint of any special reason for today's movement.

[macduffy]

This from FN Arena.

"IFL - IOOF HOLDINGS LIMITED
Citi rates IFL as Upgrade to Hold, Medium Risk from Sell (3) - Target $7.55 (was $6.75). Citi analysts have upgraded, partially on the back of a better outlook for equity markets but also on better industry conditions and operational improvements at IOOF. Forecasts have been lifted by around 3%.
Platform integrations are reason for optimism, but the analysts note IOOF is still suffering from net funds outflows for many products.

Target price is $7.55 Current Price is $7.85 Difference: minus $0.3 (current price is over target). If IFL meets the Citi target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in June. Citi forecasts a full year FY11 dividend of 39.00 cents and EPS of 49.60 cents . At the last closing share price the estimated dividend yield is 4.97%.

At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.83.

Market Sentiment: 0.3 "

Meanwhile, I've been happily holding!

[macduffy]

Still holding this one Colin?

Shareprice has lost a fair bit since the heady $8 days but a good result today, underlying profit up 15% and an increased dividend.

Market likes it too and SP up 6% today.

I'm holding.

[soulman]

I bought today, due to the probability of average.

IFL have been knocked down from the high $6 and the result today illustrate that the CEO are confident of IFL prospects in the years ahead. The dividends are sweet as well.

[drillfix]

I bought today, due to the probability of average.

IFL have been knocked down from the high $6 and the result today illustrate that the CEO are confident of IFL prospect in the years ahead. The dividends are sweet as well.

The daily looks good there soulman, Macd about to cross over on histogram and signal line, rsi moving upward and strong above 50, upward move on OBV and DMI seems set to cross.

Yikes, I should have maybe jumped in myself for a couple of days as the daily candle now rides above the 13ema, but a 2nd one is still a good entry and added confirmation.

Only caution I would take would be finger on the pulse of global market condions (and futures) and keeping eye on the stock reaching and staying above 6.00, although there are some signs that the Hourly MACD histogram showing slight divergence.

Good luck with this one folks, more tomorrow I guess.

[macduffy]

It's been a while since anyone posted on IFL - a bit surprising considering the number of NZ investors who would have "inherited" shares via the Tower/Tower Aust/Aust Wealth Mgt/IFL moves of recent years.

The AFR today is carrying a report of rumours of interest in the sector again, specifically mentioning IFL as a likely target.

I hold a few from the aforementioned reorganisations and have added a few more since.

[macduffy]

IFL profit up 312%.

http://www.smh.com.au/business/earni...823-2sfsb.html

Anyone else holding these?

You must hold a few, percy? They are said to be "well positioned".

[macduffy]

No-one else seems to be interested but IFL have announced a merger with SFG Australia. The market likes it - IFL up today in an otherwise soggy market.

http://www.theage.com.au/business/ma...516-38dnx.html

[Arbitrage]

Share price 90 MA trend is still downwards. Other wealth managers are doing well (eg HGG and AMP). Perhaps this is the beginning of something. ASB values it at $10.