INSPENONLINE: Old Mutual plc Receives Sector Performer Rating from RBC Capital (OML)

Friday 21 March 2014

Old Mutual plc Receives Sector Performer Rating from RBC Capital (OML)

By Karim Khaledi

Old Mutual plc (LON:OML)‘s stock had its "sector performer" rating restated by analysts at RBC Capital in a research report issued to clients and investors on Thursday, American Banking and Market News reports. They currently have a GBX 210 ($3.49) price objective on the stock. RBC Capital’s price objective would suggest a potential upside of 8.86% from the stock’s previous close.

Old Mutual plc (LON:OML) opened at 190.60 on Thursday. Old Mutual plc has a one year low of GBX 168.10 and a one year high of GBX 223.90. The stock has a 50-day moving average of GBX 185.3 and a 200-day moving average of GBX 190.8. The company’s market cap is £8.478 billion.

The company also recently declared a dividend, which is scheduled for Friday, May 30th. Shareholders of record on Wednesday, April 23rd will be given a dividend of GBX 6 ($0.10) per share. This represents a yield of 3.04%. The ex-dividend date of this dividend is Wednesday, April 23rd.

Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays reiterated an "overweight" rating on shares of Old Mutual plc in a research note on Tuesday. They now have a GBX 220 ($3.66) price target on the stock. Separately, analysts at Goldman Sachs raised their price target on shares of Old Mutual plc from GBX 220 ($3.66) to GBX 224 ($3.73) in a research note on Tuesday, March 11th. They now have a "buy" rating on the stock. Finally, analysts at Sanford C. Bernstein reiterated an "outperform" rating on shares of Old Mutual plc in a research note on Wednesday, March 5th. They now have a GBX 230 ($3.83) price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. Old Mutual plc currently has a consensus rating of "Buy" and a consensus price target of GBX 213.81 ($3.56).

Old Mutual plc is an international long-term savings, investment and protection company. The Company provides short-term insurance solutions in southern Africa through Mutual & Federal.

　

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Lawal is Inspen 2014 insurance man of the year

The former President Chartered Insurance Institute of Nigeria (CIIN) Fatai Lawal has emerged the 2014 Inspenonline Insurance Man of the year.

Fatai who is the the Managing Director Sterling Assurance Nigeria Limited was named today, at the Nigerian Insurance and Pension Award organised by Inspenonline.

Chief Executive Officer Inspenonline Media, Chuks Udo Okonta, said Lawal was picked from the votes casted by the public and other considerations made by the award's panel of assessors.

He noted that the winner raised the bar at the the Institute and the industry by opting to serve a tenure which was eventful and impactful. He added that amongst the legacies left by the winner was the printing and donation of Insurance books to secondary and tertiary institutions aimed at deepening insurance awareness.

Okonta noted that the award, which started two years ago with the recognition of two distinguished individuals and an underwriting company, has now come to stay.

"This year, we decided to raise the bar by setting high standards to judge the operations of companies and impacts made by individuals in moving insurance and pension business forward.

"To achieve this, we gave the public the opportunity to select those to be celebrated by calling for votes. Having harmonised the votes which came from different parts of the country, we benchmarked the scores with the set standard to arrive at the winners we are celebrating today," he said.

Others winners are AIICO Insurance Plc, Insurance company of the year; FUG Pensions Limited, Pension Fund Administrator of the Year; YOA Insurance Brokers Limited and Glanvill Enthoven Insurance Brokers Limited, Insurance Broker of the year.

Professional Excellence Award went to Professor Joe Irukwu; Best Professional Group went to the Chartered Insurance Institute of Nigeria and Association of Registered Insurance Agents of Nigeria; Corporate Brand went to Mansard Insurance Plc and Leadway Assurance Limited while Corporate Social Responsibility Award was won by Sovereign Trust Insurance Plc.

The organisers also recognised organisations that distinguished themselves, with Excellence Award. Organisations in this category include the National Pension Commission, Lagos State Pension Commission, Goldlink Insurance Plc and Pension Transition Administration Directorate.

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