Pendal Group Ltd

Change of Company Name and ASX Code: Pendal Group Ltd.’s (ASX: PDL) stock rose initially rose by 3% and then settled with a rise of 1.66% on May 08, 2018. The company, which was formerly known as BT Investment Management (BTIM), has unveiled its new brand and has started trading on the Australian Securities Exchange (ASX) under the updated ticker PDL. Further, the company had planned to launch the new Pendal brand slated to include a new website (pendalgroup.com). The two factors that led to the name change included - Westpac selling down its majority shareholding with interest now approximately 10% of the business and then the BT name license agreement has been due for renewal later this year. Moreover, there is a one-off cost of around $2.5 million to transition from the existing BTIM brand to Pendal. Meanwhile, PDL stock has fallen 15.50% in three months as on May 07, 2018, but looks “Expensive” at the current price of $ 9.2, given the shortcomings.
 

IPH Ltd

On-market buyback: IPH Ltd (ASX: IPH) witnessed a share price rise of 7.3% on May 08, 2018, after the group announced about its on-market share buyback program under which the company intends to buy up to $40 million worth of shares during May 23, 2018 for the next one year. While some concerns rose with regards to the impact on dividend policy, but the intellectual property firm clarified that the buyback will not impact the existing dividends. In fact, the buy-back will be funded by debt and the group will maintain conservative gearing levels. In fact, the group aims to look out for growth opportunities. It is also worth noting that 80% of IPH’s service charges are derived from services related to patents. IPH also targets higher revenue growth in Australia through pricing and market share improvement while Asia is considered to be a growth engine going forward. IPH group holds 24% market share in both Australia and Singapore and maintains a leading position. While the stock is on our watch list, but looks “Expensive” at the current price of $ 4.14.
 

IPH’s Addressable Market (Source: Company Reports)

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