Home » Standard Life Aberdeen share price dips on cautious outlook

Standard Life Aberdeen share price dips on cautious outlook

Standard Life Aberdeen’s (LON:SLA) has fallen into the red in today’s session, even as the company posted a rise in assets under management and administration. The update comes about two years following the merger between Standard Life and Aberdeen Asset Management.

As of 09:02 BST, Standard Life Aberdeen’s share price had given up 6.48 percent to 263.55p, underperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.49 percent higher at 7,207.11 points. The group’s shares have given up more than 26 percent of their value over the past year, as compared with about a 6.9-percent drop in the Footsie.

SLA posts half-year results

Standard Life Aberdeen announced in a statement this morning that its assets under management and administration had climbed five percent to £577.5 billion, with assets on the group’s platforms up 11 percent to £66 billion. The asset manager further reported IFRS profit after tax attributable to equity shareholders of £636 million, up from £111 million in the prior-year period.

“We have made good progress in reshaping our business so that it is set up to take advantage of the trends impacting our industry both globally and in the UK,” SLA’s chief executive Keith Skeoch commented in the statement, adding that the company was “seeing inflows that are more diverse and are pleased to have retained £35bn of Lloyds Banking Group assets”.

The group, however, sounded a note of caution on outlook, pointing out that “the current environment for asset management remains tough as macroeconomic and political uncertainties continue to affect investor sentiment”.

Analysts on FTSE 100 group

The 15 analysts offering 12-month targets for the Standard Life Aberdeen share price for the Financial Times have a median target of 332.57p, with a high estimate of 390.00 and a low estimate of 210.00p. As of August 3, the consensus forecast amongst 17 polled investment analysts covering the blue-chip asset manager has it that the company will outperform the market.

About the author

Tsveta van Son
Tsveta van Son is part of Invezz’s journalist team. She has a BA degree in European Studies and a MA degree in Nordic Studies from Sofia University and has also attended the University of Iceland. While she covers a variety of investment news, she is particularly interested in developments in the field of renewable energy.

Leave a Reply

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. Click here for more information.