St James Place share price sits at crossroads ahead of earnings

July 26, 2023 10:38 AM PDT | By Invezz

St James Place share price sits at crossroads ahead of earnings — Image source: Invezz

St James Place earnings ahead

This is an important week for UK companies in the finance and banking industry as they publish their financial results. Some of the companies in the industry to watch are Barclays, Lloyds, NatWest, and St James Place.

St James Place is a financial services company that provides wealth management and investment solutions in the UK. It provides services like investment, retirement planning, private clients, and banking and mortgages, among others.

St James Place business came under intense pressure in the past few years as outflows rose. Its gross inflows dropped 7% to £17 billion from £18.2 billion in 2021. Net inflows came in at £9.8 billion from the previous £11 billion. As a result, the total assets under management (AUM) dropped to £148.4 billion. It serves over 917k customers.

St James Place share price will be in the spotlight on Thursday when the company will publish its half-year results and second-quarter financial results. In April, the company said that its gross inflows came in at £4.17 billion, down from £4.73 billion in the same quarter in 2022.

At the same time, net inflows dropped from £2.91 billion in Q1’22 to £2 billion. Its funds under management rose to £153 billion. Therefore, investors will want to see the trends in inflows and the company’s profitability.

St James Place share price forecast

The daily chart shows that the STJ stock price has made a strong recovery in the past few days. As it rose, the shares jumped to the upper side of the descending channel shown in black. This line connects the highest points since February 1st.

St James Place stock has also moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) and the Stochastic Oscillator (SO) have moved to the overbought level.

Therefore, at this stage, there is a possibility that the St James Place shares will retreat as sellers target the lower side of the channel at 1,047p. A move above the upper side of the falling channel will point to more gains at 1,268p.

The post St James Place share price sits at crossroads ahead of earnings appeared first on Invezz.

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