Economy

Analysts Set Standard Life Aberdeen (SLA) Target Price at $465.89

Analysts Set Standard Life Aberdeen (SLA) Target Price at $465.89”

It is understood that the majority of assets Aberdeen Standard Investments manages for Scottish Widows are invested in strategies like passive equity and "buy and hold" UK fixed income, and high-profile retail managers such as Devan Kaloo (emerging markets), Hugh Young (Asia Pacific), Harry Nimmo (UK smaller companies), Mike Brooks (Diversified Growth), Brett Diment (EMD) and Guy Stern (absolute return) will not be impacted. Standard Life Aberdeen presently has a consensus rating of "Buy" and an average target price of GBX 469.83 ($6.55).

Standard Life Aberdeen has said it does not believe that Lloyds Banking Group (LLOY) had the "right" to redeem £109 billion in assets from the group earlier this year and said it is to dispute the decision. Finally, Berenberg Bank upped their price objective on shares of Standard Life Aberdeen from GBX 440 ($6.14) to GBX 460 ($6.42) and gave the company a "hold" rating in a report on Friday, January 12th.

Shares of LON SLA traded up GBX 0.50 ($0.01) during midday trading on Wednesday, reaching GBX 364.80 ($5.09).

He adds: "As a result, Scottish Widows and Lloyds Banking Group had the right to terminate the contracts with Standard Life Aberdeen and we acted accordingly by serving notice on 14 February". It also accounted for 4.4% of Standard Life Aberdeen's revenue for the full year 2017.

Goldman Sachs reiterated its "conviction-buy" rating on Standard Life Aberdeen at the end of last month, without specifying a price target on the shares.

The business also recently declared a dividend, which will be paid on Wednesday, May 30th. The shares were sold at an average price of GBX 367 ($5.12), for a total transaction of £212,669.16 ($296,609.71). Investors of record on Thursday, April 19th will be paid a GBX 14.30 ($0.20) dividend. This represents a yield of 3.8%. The ex-dividend date of this dividend is Thursday, April 19th. Over the last three months, insiders have purchased 84,322 shares of company stock valued at $30,996,170.

Standard Life Aberdeen's share price has slipped into the red in today's session, having given up 0.33 percent to 361.10p as of 10:31 BST.

The Scottish Widows contract accounted for 17% of Standard Life Aberdeen's total £646bn of assets under management (AUM). The company offers investment solutions and funds; long-term savings and investment products to individual and corporate customers; and life insurance and savings products.



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