FID - Fiducian Group
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Rob, what is FIDs sector?
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I am watching the $XXJ closely Rob, it is just under but touching the 200 day SMA. I am thinking if this fails to push above then it may take a few financials down with it. If it gets above and stays above the 200DSMA then it could give some of the financials a bit of a kick up as well, this included.
FID appears to be running pretty hard, it has just fallen back from a double top from August 2018 and it has another double top to overcome from back in November 2017.
The NVI (thank you for the heads-up on this it is awesome!) is certainly looking very good the PVI is looking as though none of the prats want in any more and the Twiggs Money Flow appears to have flattened off a bit, which is interesting with the stock flying high as it is.
I did a very brief bit of FA on this, couldn't find what their actual holdings are with a quick glance but I did find how their various portfolios are doing. I am not great at this stuff but to my uneducated FA eye it looks as though they aren't doing all that well but I may be misreading. I also wonder how their fees for management stack up against a simple ETF.
Results to 31 January 2019
...and a chart
FID appears to be running pretty hard, it has just fallen back from a double top from August 2018 and it has another double top to overcome from back in November 2017.
The NVI (thank you for the heads-up on this it is awesome!) is certainly looking very good the PVI is looking as though none of the prats want in any more and the Twiggs Money Flow appears to have flattened off a bit, which is interesting with the stock flying high as it is.
I did a very brief bit of FA on this, couldn't find what their actual holdings are with a quick glance but I did find how their various portfolios are doing. I am not great at this stuff but to my uneducated FA eye it looks as though they aren't doing all that well but I may be misreading. I also wonder how their fees for management stack up against a simple ETF.
Results to 31 January 2019
...and a chart
Reported cashflow for the third Q19 this morning. Revenue and Cashflow tracking about 10% above the first 3 quarters last year. Revenue at $42.388m compared with $37.18 last year and operating cashflow at $7.911m compared with $7.119m last year for the 3 quarters. Small decrease in their growth rate but probably not to bad considering the tough environment in the last six months.
Porper
Ralph Nelson Elliott
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Thinly traded but the Cup & Handle has triggered...or I should say Cup without Handle...yet. Target $7.70. Nice risk reward.
I hold.
I hold.
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In for another nibble of FID, 1,000 shares @ 3.21
Two directors still solidly buying, including announcements today and Friday.
I am clueless as to how heavy the hit to their funds under admin, advice, and management will be but they'll be around to pick up the pieces (of other funds) sounds like a right comment to me.
The chart's giving no guidance that I can see I must admit, and I suspect lower is possible, just assuaging my need to do something.
Two directors still solidly buying, including announcements today and Friday.
I am clueless as to how heavy the hit to their funds under admin, advice, and management will be but they'll be around to pick up the pieces (of other funds) sounds like a right comment to me.
The chart's giving no guidance that I can see I must admit, and I suspect lower is possible, just assuaging my need to do something.
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Up 14.9% yesterday on a positive news announcement from the company.
Whether the price pulls back or not, it's now near the all time high, remains to be seen but so far, so good.
Disclosure: I've been in and out of this stock several times, currently holding.
Whether the price pulls back or not, it's now near the all time high, remains to be seen but so far, so good.
Disclosure: I've been in and out of this stock several times, currently holding.
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Here's a nice simple graphic let out in their preso today. Another strong candidate for me in a crash.
2,000 shares held
2,000 shares held
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Good FY21 results from FID
A couple of directors bought shares relentlessly in the depths of the 2020 kuflu
Held
A couple of directors bought shares relentlessly in the depths of the 2020 kuflu
Held
Dona Ferentes
A little bit OC⚡DC
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James Marlay ( Livewire Markets ) : "Now, Roger, our first stock today is Fiducian Group. It’s a bit of a special one for Livewire’s readers because Ivan, who is one of our regular readers, said it’s been one of the absolute standout dividend stocks in his portfolio over the last seven or eight years. I think it’s been compounding 18 per cent dividend growth since 2013. Are you a buy, hold or sell on Fiducian?
Roger Montgomery ( MIM) : "Well, for the reasons your subscriber said it’s a hold. If you own it, you don’t mind owning it. We live in a post-Royal Commission world – most financial services firms are moving away from vertical integration. I’ve seen it first-hand when we are on the road meeting with advisers. And this company appears to be navigating that change pretty well, despite being vertically integrated. Funds under advice are on track to nearly double over the last five years, revenue’s been growing at about 12 per cent over the last four years, and EPS is up 16 per cent a year. So, I can understand why the dividend has been going up at the rate you mentioned, James.
"Now, some reckon the company doesn’t have the scale to compete in the industry. But I know the founders of this business and I reckon this is all about relationships. They’ve got a 35 per cent stake in the business; they are clearly passionate, they are clearly aligned with shareholders. And for the same reason, I wouldn’t buy it for corporate action, but the platform and the multi-manager funds management business is very, very attractive, so it’s a hold.
James Marlay (Livewire Markets ) : "Simon are you a buy, hold or sell on Fiducian?
Simon Conn ( Investors Mutual ) : "It’s a hold at these current prices. It’s trading on over 20 times last year’s profit. It’s been positioned well by Indy Singh and the team. So, really strong founder management, strong investment performance that they have driven out of their multi-manager business. But a lot of good news is priced in. And I think they have benefited from the dislocation we have seen from the Royal Commission. So maybe going forward, its growth may slow to some extent. Particularly with equity markets being at fairly elevated levels, that always makes you cautious with businesses that are linked to financial markets."
Roger Montgomery ( MIM) : "Well, for the reasons your subscriber said it’s a hold. If you own it, you don’t mind owning it. We live in a post-Royal Commission world – most financial services firms are moving away from vertical integration. I’ve seen it first-hand when we are on the road meeting with advisers. And this company appears to be navigating that change pretty well, despite being vertically integrated. Funds under advice are on track to nearly double over the last five years, revenue’s been growing at about 12 per cent over the last four years, and EPS is up 16 per cent a year. So, I can understand why the dividend has been going up at the rate you mentioned, James.
"Now, some reckon the company doesn’t have the scale to compete in the industry. But I know the founders of this business and I reckon this is all about relationships. They’ve got a 35 per cent stake in the business; they are clearly passionate, they are clearly aligned with shareholders. And for the same reason, I wouldn’t buy it for corporate action, but the platform and the multi-manager funds management business is very, very attractive, so it’s a hold.
James Marlay (Livewire Markets ) : "Simon are you a buy, hold or sell on Fiducian?
Simon Conn ( Investors Mutual ) : "It’s a hold at these current prices. It’s trading on over 20 times last year’s profit. It’s been positioned well by Indy Singh and the team. So, really strong founder management, strong investment performance that they have driven out of their multi-manager business. But a lot of good news is priced in. And I think they have benefited from the dislocation we have seen from the Royal Commission. So maybe going forward, its growth may slow to some extent. Particularly with equity markets being at fairly elevated levels, that always makes you cautious with businesses that are linked to financial markets."
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FID picking up a large 'funds under advice' business from a credit union. FID seems well regarded and will likely be an excellent investment in a crash (as long as management are seen buying shares like they did in the Covid crash)
Held
Held
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Ahead of the pack, this one, FUM up $163m for H1FY22
Held
Hold
Held
Hold
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@Miner I don't look at FID much although I am still holding long term the 2,000 shares that I picked up in the March 2020 crash. Good divvy payer. I've just been assuming it's going ok with them. Quite frankly I don't understand the business, I'm a retired fruit-picker and drop-out, some of my employers didn't even pay me super; I just go by basic metrics, the chart and comments from more analytical types.
I see it had a fairly good H1 with eps up 17%
I figure with my crude but workable approach that FID is worth at least 5x book value which is about where it is now. Median ROE over 9 years is 27% (Commsec). This valuation doesn't account for growth though as book value and earnings are on rising trends.
However the crash from the China warfare flu, which has killed many of us, showed us that FID is as vulnerable to market sentiment as the rest.
The chart doesn't have a good appearance with a couple of levels broken where support might have been expected so FID is not currently on my buy list. Definitely a crash buy though. How about you?
I see it had a fairly good H1 with eps up 17%
I figure with my crude but workable approach that FID is worth at least 5x book value which is about where it is now. Median ROE over 9 years is 27% (Commsec). This valuation doesn't account for growth though as book value and earnings are on rising trends.
However the crash from the China warfare flu, which has killed many of us, showed us that FID is as vulnerable to market sentiment as the rest.
The chart doesn't have a good appearance with a couple of levels broken where support might have been expected so FID is not currently on my buy list. Definitely a crash buy though. How about you?
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Dear @finicky
Simply I am humbled at your simplicity and my salute to you.
I only read about FID on FP and do not hold.
Mate take care and may God bless you. ?
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Fiducian Group only seems around fair value to me, not a bargain. Don't understand why, but today it is going against the general market and down 4%. Today is dividend payment date but the Ex dividend date was weeks ago. Would that I'd bought more of these in the past instead of flushing cash down resource specs. Check out the dividend record. Book value increases every year and ROE has not lagged by too much.
Held
Sentiment: Hold
Held
Sentiment: Hold
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Odd behaviour from such a seemingly high quality company lately - 12 month low today @ 6.45 currently. Maybe it's something to do with low liquidity - only 31k shares traded by lunch. One to keep an eye on for value imo after the worst has passed. Sustained high ROE, rising book value every year and weathered the fy20 Wuflu so well.
I still see it as worth at least 5X book value if macro fears are set aside - so $7.50 say?
Hèld
I still see it as worth at least 5X book value if macro fears are set aside - so $7.50 say?
Hèld
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Ok, fund manager, they stink lately but this one is excellent and could be a great opportunity coming up in my opinion. I only own 2,000 but these were a timid pick up in the WuFlu and I still have a 2 buck cushion.
Looking at a year of announcement reveals a ribbon of steady of on market buying from the M.D and a non exec director - big meaty chunks, albeit none since April. This what the M.D also did during the WuFlu - huge on-market buys.
The Mar Qtrly report, published April, showed net inflows up, FUMAA unchanged, net cash down but fully attributable to investment and financing. The net operating cashflow was up.
The historical financial stats are great. The normal ROE at least 28%, the book value shows a steady rise so they're getting the same ROE on retained profits. Yet the dividends also show an uninterrupted rise. The share issuance is low and almost rock steady. (CommSec financial stats summary). I think its worth at least $7.50 for anyone willing to look across the valley?
Trouble is - sentiment, as manifested in the chart. It looks like it should go lower, being trapped in a down channel and several speculative supports are broken. I suspect $5 as a first target is not unreasonable?
Held
WEEKLY
Looking at a year of announcement reveals a ribbon of steady of on market buying from the M.D and a non exec director - big meaty chunks, albeit none since April. This what the M.D also did during the WuFlu - huge on-market buys.
The Mar Qtrly report, published April, showed net inflows up, FUMAA unchanged, net cash down but fully attributable to investment and financing. The net operating cashflow was up.
The historical financial stats are great. The normal ROE at least 28%, the book value shows a steady rise so they're getting the same ROE on retained profits. Yet the dividends also show an uninterrupted rise. The share issuance is low and almost rock steady. (CommSec financial stats summary). I think its worth at least $7.50 for anyone willing to look across the valley?
Trouble is - sentiment, as manifested in the chart. It looks like it should go lower, being trapped in a down channel and several speculative supports are broken. I suspect $5 as a first target is not unreasonable?
Held
WEEKLY
