Janus Updates On-Market CDI Buy-Back Programme

  • Mar 22, 2019 AEDT
  • Team Kalkine
Janus Updates On-Market CDI Buy-Back Programme

Janus Henderson Group PLC (ASX: JHG) is in the financial sector and into the asset management business. Being a global leading active asset managing company, it supports its clients to achieve their long-term financial goals by providing access to a broad range of investment solutions, including equities, fixed income, quantitative equities, multi-asset and alternative asset class strategies.

The company announced that as per its on-market buy-back programme which started on 5 March 2019, it purchased 22,912 number of CHESS Depositary Interests at AUD 34.57 per share, to be converted into a holding of Shares for cancellation.

The company recently published its Annual Report for 2018. It completed the year with US$329 billion of assets under management, a decline of 11% from a year ago, driven by US$24 billion of market decline and changes in currency rates, as well as US$18 billion of net outflows.

The average AUM was up 6% over the prior year, which drove higher management fees and led to a one per cent increase in adjusted total revenue compared to 2017. The adjusted operating margin for the year continued to be very healthy at 39%, and adjusted diluted EPS for the year was US$2.74, compared to US$2.48 in 2017. The adjusted EPS increase was on the back of a reduction in the full year tax rate primarily, as a result of the tax reform that took place in the US.

The company has strategic priorities for 2019. It focuses on producing dependable investment outcomes through the focus on quality and stability of investment performance, excel in client experience which will provide consistent and continuous improvement. It also seeks to increase focus and operational efficiency, enhance proactive risk and control environment and develop new growth initiatives.

As per the CEO of the company, Richard Weil, during 2018, the company served over 20 million clients around the world with more than US$70 billion of new business and the company expects deeper engagement with its global clients. The investment professionals continued to deliver results for the clients of the company with over 70% of firm-wide AUM beating its respective benchmarks over the trailing five years.

Moreover, the firm’s strong financial position for the full year 2018 was displayed by the adjusted operating margins of 39%, which will provide the flexibility to the company to invest in the business. Janus has also completed substantial integration, realising  US$125 million of annualised cost synergies nearly a year and a half ahead of the original timeline.

On the price-performance front, the stock of Janus Henderson Group PLC is currently trading at $34.850 with ~1.161% increase during the day’s trade (AEST 04:00 PM). The stock has generated a YTD return of 17.62% and returns of -11.42%, 24.73% and -0.20% over the past six months, three months and one-month period respectively. It had a 52-week high price of $45.80 and a 52-week low price of $26.96, with an average trading volume of 350,687. The stock is trading at a PE multiple of 9.280x with an annual dividend yield of 5.72%.


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