In today’s daily we have covered stock research on IOOF Holdings. We also provide you with 10 dividend stocks for 2014.

S&P 500 was up by 7.04 points or 0.38% to 1871.89 on Monday. S&P 500 rose for the fifth day amid signs of improving corporate earnings. U.S. stocks advanced modestly on Monday in subdued trading as investors showed hesitation in the wake of a strong rally last week and before a slew of key earnings releases this week.

Monday's gain marked the S&P 500's fifth straight climb, its longest winning streak since October. The S&P 500 wrapped up its best week since July last week, boosted by results from  names such as General Electric and Morgan Stanley. Halliburton shares climbed on Monday as the quarterly results were ahead of Wall Street expectations.


S&P 500 Daily Chart   (Source – Thomson Reuters)
 
S&P ASX 200was up by 33.90 points or 0.63% on Thursday and closed at 5454.20 points. Sydney Airport released its passenger traffic numbers for March 2014. Domestic traffic was down 0.1% compared to the previous corresponding period. International traffic was up 0.1% compared to the previous corresponding period driven by both capacity and load factor increases. International traffic continues to be partially driven by strong Chinese passenger growth, increasing 17.8% over the first quarter and 14.9% over the past 12 months.

Woodside Petroleum (WPL) posted a 16% increase in March quarter revenues due to a jump in the prices of the LNG from its Pluto project in Western Australia.Woolworths (WOW) jumped 2.1 % to finish at an all-time closing high of $37.09. Santos announced that its PNG LNG project is progressing ahead of schedule with first LNG cargo expected towards the middle of this year.


S&P ASX 200 Daily Chart (Source – Thomson Reuters)

The top gainers on ASX 200 were:-



Stock of the Day – IOOF Holdings (IFL)
 
IOOF Holdings offers financial products and portfolio administration services including investments, superannuation, immediate and deferred annuities, investment trusts, financial planning and advisory, stockbroking, estate planning and administration, and trustee services. IOOF holds about AUD 125 billion in funds under management, administration, advice and supervision. The firm continues to focus on growth opportunities through expansion of its wealth creation capabilities and distribution network.
 
Rising share prices and investors returning to equity market boosted IOOF holdings funds under management and administration or FUMA in first half fiscal 2014 to AUD 94.1 billion, up 10% from first half 2013. Increased funds drove a 12% increase in gross margin income. Margins from the platform business were slightly softer than expected, mainly as a result of growth in low cost superannuation products.


Source - IOOF

The fully franked interim dividend increased 15% to AUD 0.22, and was at the top end of the payout policy range of 60% to 90%. IOOF’s result was largely in line with expectations. We will see IOOF capitalize on industry tailwinds stemming from Australia’s compulsory superannuation system and the government focus on increasing the number of Australians accessing financial advice.


IOOF Daily Chart  (Source - Thomson Reuters)
 
IOOF’s vertically integrated business model, which provides access to the entire wealth management value chain, leaves it well placed to benefit from improving economic conditions and ongoing growth in Australia’s asset pool. We believe the stock is overvalued at its current price and would review the stock at a later date.
  

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