Western Asset High Income Fund II Inc. is a closed-ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC.
Share Price & News
How has Western Asset High Income Fund II's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: HIX has not had significant price volatility in the past 3 months.
7 Day Return
US Capital Markets
1 Year Return
US Capital Markets
Return vs Industry: HIX underperformed the US Capital Markets industry which returned 12% over the past year.
Return vs Market: HIX underperformed the US Market which returned 14% over the past year.
Price Volatility Vs. Market
How volatile is Western Asset High Income Fund II's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Western Asset High Income Fund II undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: HIX ($6.9) is trading below our estimate of fair value ($7.47)
Significantly Below Fair Value: HIX is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: HIX is good value based on its PE Ratio (9x) compared to the Capital Markets industry average (33.4x).
PE vs Market: HIX is good value based on its PE Ratio (9x) compared to the US market (17.7x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate HIX's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: HIX is good value based on its PB Ratio (0.9x) compared to the US Capital Markets industry average (6.6x).
How is Western Asset High Income Fund II forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Diversified Financials industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Western Asset High Income Fund II has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
How has Western Asset High Income Fund II performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: HIX has a large one-off gain of $18.6M impacting its October 31 2019 financial results.
Growing Profit Margin: HIX became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: HIX's earnings have grown significantly by 25.2% per year over the past 5 years.
Accelerating Growth: HIX has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: HIX has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (8.4%).
Return on Equity
High ROE: HIX's Return on Equity (10.5%) is considered low.
Return on Assets
Return on Capital Employed
How is Western Asset High Income Fund II's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: HIX has a low level of unsold assets or inventory.
Debt Coverage by Assets: HIX's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: HIX's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if HIX has a sufficient allowance for bad loans.
Low Risk Liabilities: HIX reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if HIX has an acceptable proportion of non-loan assets held.
Low Risk Deposits: HIX has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if HIX has an appropriate level of bad loans.
What is Western Asset High Income Fund II's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Purchase Western Asset High Income Fund II before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: HIX's dividend (8.43%) is higher than the bottom 25% of dividend payers in the US market (1.48%).
High Dividend: HIX's dividend (8.43%) is in the top 25% of dividend payers in the US market (3.77%)
Stability and Growth of Payments
Stable Dividend: HIX's dividend payments have been volatile in the past 10 years.
Growing Dividend: HIX's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (72%), HIX's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Western Asset High Income Fund II has no CEO, or we have no data on them.
|Lead Independent Director||5.8yrs||US$16.48k||0.015% $90.0k|
|Non-Interested Director||12.9yrs||US$13.98k||no data|
|Non-Interested Director||7yrs||US$13.98k||no data|
|Non-Interested Director||18.1yrs||US$15.30k||no data|
|Non-Interested Director||19.1yrs||US$13.98k||no data|
|Non-Interested Director||18.1yrs||US$15.30k||no data|
|Non-Interested Director||22.1yrs||US$13.98k||no data|
Experienced Board: HIX's board of directors are seasoned and experienced ( 18.1 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Western Asset High Income Fund II Inc.'s company bio, employee growth, exchange listings and data sources
- Name: Western Asset High Income Fund II Inc.
- Ticker: HIX
- Exchange: NYSE
- Founded: 1998
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: US$587.578m
- Shares outstanding: 85.16m
- Website: https://institutional.myleggmason.com/portal/server.pt?open=512&objID=1377&cached=true&mode=2&userID=225408&mktcd=HIX
- Western Asset High Income Fund II Inc.
- 620 Eighth Avenue
- 49th Floor
- New York
- New York
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|HIX||NYSE (New York Stock Exchange)||Yes||Common Stock||US||USD||May 1998|
Western Asset High Income Fund II Inc. is a closed-ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company, Western Asset Management Company Limited, and Western Asset Management Company Pte. Ltd. It invests in the fixed income markets across the globe. The fund invests in securities of companies that operate across diversified sectors. It invests in high yield debt securities issued by U.S., foreign corporations and foreign governments. The fund employs a combination of quantitative and fundamental analysis with bottom-up security selection process to create its portfolio. It benchmarks the performance of its portfolio against Barclays Capital U.S. Corporate High Yield 2% Issuer Cap Index and the JPMorgan Emerging Markets Bond Index Global. Western Asset High Income Fund II, Inc. was formed on May 28, 1998 and is domiciled in the United States.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/25 00:42|
|End of Day Share Price||2020/02/24 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.