Royal Bank of Canada Initiates Coverage on Quilter (QLT)

Royal Bank of Canada assumed coverage on shares of Quilter (LON:QLT) in a research note published on Friday, ThisIsMoney.Co.Uk reports. The brokerage issued an outperform rating and a GBX 175 ($2.29) price target on the stock.

Several other equities analysts have also commented on the company. Goldman Sachs Group reaffirmed a conviction-buy rating and issued a GBX 185 ($2.42) price target (up previously from GBX 145 ($1.89)) on shares of Quilter in a research note on Monday, April 1st. JPMorgan Chase & Co. raised Quilter to an overweight rating and upped their price target for the company from GBX 145 ($1.89) to GBX 180 ($2.35) in a research note on Thursday, March 14th. Numis Securities reaffirmed a hold rating and issued a GBX 140 ($1.83) price target on shares of Quilter in a research note on Tuesday, March 12th. Finally, UBS Group reaffirmed a buy rating and issued a GBX 170 ($2.22) price target (down previously from GBX 175 ($2.29)) on shares of Quilter in a research note on Tuesday, March 12th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of GBX 170 ($2.22).

Shares of Quilter stock opened at GBX 135.22 ($1.77) on Friday. Quilter has a 52 week low of GBX 109.30 ($1.43) and a 52 week high of GBX 160 ($2.09). The firm has a market capitalization of $2.57 billion and a PE ratio of 5.10. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 9.83.

The firm also recently declared a dividend, which was paid on Monday, May 20th. Stockholders of record on Thursday, April 25th were paid a GBX 3.30 ($0.04) dividend. This represents a dividend yield of 2.38%. The ex-dividend date of this dividend was Thursday, April 25th. Quilter’s dividend payout ratio (DPR) is presently 0.26%.

In other news, insider Mark Satchel sold 38,258 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of GBX 140 ($1.83), for a total value of £53,561.20 ($69,987.19).

About Quilter

Quilter plc provides advice-led investment solutions and investment platforms in the United Kingdom and internationally. The company operates in two segments, Advice and Wealth Management, and Wealth Platforms. The Advice and Wealth Management segment offers face-to-face financial advice services; mortgage and financial planning advice, and financial solutions for individuals and businesses; multi-asset investment solutions for its customers' accumulation and decumulation needs; and discretionary and advisory wealth management services to private investors and corporate pension funds, trusts, and charities.

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Analyst Recommendations for Quilter (LON:QLT)

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