Buy Or Sell Opportunity • Aug 04
Now 20% undervalued Over the last 90 days, the stock has risen 14% to €6.65. The fair value is estimated to be €8.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings are also forecast to grow by 7.3% per annum over the same time period. New Risk • Jul 01
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €198k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (97% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Significant insider selling over the past 3 months (€198k sold). New Risk • May 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (97% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.5% average weekly change). Declared Dividend • May 24
First half dividend of UK£0.05 announced Shareholders will receive a dividend of UK£0.05. Ex-date: 4th June 2026 Payment date: 26th June 2026 Dividend yield will be 2.4%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (48% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 25% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 22
First half 2026 earnings released: EPS: UK£0.17 (vs UK£0.12 in 1H 2025) First half 2026 results: EPS: UK£0.17 (up from UK£0.12 in 1H 2025). Revenue: UK£182.5m (up 20% from 1H 2025). Net income: UK£69.2m (up 35% from 1H 2025). Profit margin: 38% (up from 34% in 1H 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Capital Markets industry in Germany. Duyuru • May 22
AJ Bell plc Approves Interim Dividend for the Six Months Ended March 31, 2026, Payable on 26 June 2026 AJ Bell plc approved Interim dividend of 5.00 pence per share Six months ended 31 March 2026, up 11% versus prior year (HY25: 4.50 pence), payable on 26 June 2026 to shareholders on the register at the close of business on 5 June 2026. The ex-dividend date will be 4 June 2026. Duyuru • Apr 25
Aj Bell plc Announces Board Changes, with Effect from 1 May 2026 AJ Bell, one of the UK's largest investment platforms, announced that Elizabeth G. Chambers (Libby) has been appointed to its Board as an independent non-executive director with effect from 1 May 2026. In line with the Board's succession planning activity, Libby will assume the role of Chair of the Remuneration Committee, subject to regulatory approval. Libby will succeed Margaret Hassall, who will have completed five years' service on the Board.
Libby began her career at Morgan Stanley & Co. She later completed an MBA at Harvard Business School. Following ten years with McKinsey & Company as an associate and later a partner in its Financial Services and Organisation practices, she worked in C-level product, marketing and strategy roles at a number of global companies including Barclays, Barclaycard, Western Union and Bank of America. Libby is currently a non-executive director of Kape Technologies, Wise plc and TSB Bank. She is also Chair of the Remuneration Committee at Wise plc and TSB Bank. Her experience in the wealth management industry includes previous board roles at Evelyn Partners (formerly Tilney Smith & Williamson) and 7IM. Libby was also a non-executive director of Vanquis Banking Group plc and Hastings Group plc (where she also chaired the Remuneration Committee). Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €5.55, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Capital Markets industry in Germany. Total returns to shareholders of 19% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €7.64 per share. Duyuru • Feb 04
AJ Bell plc Approves Final Dividend for the Financial Year Ended 30 September 2025, Payable on 13 February 2026 AJ Bell plc at the Annual General Meeting held on 4 February 2026 approved declaration of a final dividend for the financial year ended 30 September 2025 of 9.75 pence per ordinary share payable on 13 February 2026. Buy Or Sell Opportunity • Jan 20
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €4.84. The fair value is estimated to be €6.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 9.2% per annum. Earnings are also forecast to grow by 7.0% per annum over the same time period. Upcoming Dividend • Jan 09
Upcoming dividend of UK£0.098 per share Eligible shareholders must have bought the stock before 15 January 2026. Payment date: 13 February 2026. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.4%). Higher than average of industry peers (2.3%). Buy Or Sell Opportunity • Dec 24
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at €5.00. The fair value is estimated to be €6.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 9.2% per annum. Earnings are also forecast to grow by 7.1% per annum over the same time period. Declared Dividend • Dec 06
Final dividend of UK£0.098 announced Shareholders will receive a dividend of UK£0.098. Ex-date: 15th January 2026 Payment date: 13th February 2026 Dividend yield will be 2.8%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (68% cash payout ratio). The dividend has increased by an average of 25% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Dec 06
AJ Bell plc Proposes Final Dividend for the Year Ended 30 September 2025, Payable on February 13, 2026 AJ Bell plc announced that the board proposed Final dividend of 9.75 pence per share year ended 30 September 2025 (fiscal year 2024: 8.25 pence per share), increasing the total ordinary dividend for the year by 14% to 14.25 pence per share (fiscal year 2024: 12.50 pence per share), the 21st consecutive year of ordinary dividend. The final ordinary dividend will be paid, subject to shareholder approval at AGM on 4 February 2026, to shareholders on the register at the close of business on 15 January 2026. final dividend declared is payable on 13 February 2026 to shareholders on the register on 16 January 2026. The ex-dividend date will be 15 January 2026. Reported Earnings • Dec 06
Full year 2025 earnings released: EPS: UK£0.26 (vs UK£0.20 in FY 2024) Full year 2025 results: EPS: UK£0.26 (up from UK£0.20 in FY 2024). Revenue: UK£316.9m (up 18% from FY 2024). Net income: UK£105.1m (up 25% from FY 2024). Profit margin: 33% (up from 31% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Capital Markets industry in Germany. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Duyuru • Dec 05
AJ Bell plc, Annual General Meeting, Feb 04, 2026 AJ Bell plc, Annual General Meeting, Feb 04, 2026. Duyuru • Nov 26
AJ Bell plc Announces Board Changes AJ Bell plc announced that Evelyn Bourke, Senior Independent Director, will be stepping down from the Board as a Non-Executive Director of the Company with effect from 4 February 2026 and will therefore not be seeking re-election at the Company's forthcoming AGM. Fiona Fry, Chair of the Risk and Compliance Committee, will take on the role of Senior Independent Director. New Risk • Jun 01
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €384k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (30% accrual ratio). Minor Risk Significant insider selling over the past 3 months (€384k sold). Upcoming Dividend • May 30
Upcoming dividend of UK£0.045 per share Eligible shareholders must have bought the stock before 05 June 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.2%). In line with average of industry peers (2.4%). Board Change • May 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Julie Chakraverty was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • May 25
First half dividend of UK£0.045 announced Shareholders will receive a dividend of UK£0.045. Ex-date: 5th June 2025 Payment date: 27th June 2025 Dividend yield will be 2.7%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (59% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has increased by an average of 27% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 24
First half 2025 earnings released: EPS: UK£0.12 (vs UK£0.11 in 1H 2024) First half 2025 results: EPS: UK£0.12 (up from UK£0.11 in 1H 2024). Revenue: UK£152.8m (up 17% from 1H 2024). Net income: UK£51.2m (up 11% from 1H 2024). Profit margin: 34% (down from 35% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Capital Markets industry in Germany. Board Change • Apr 28
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Julie Chakraverty was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Mar 29
InvestAcc Group Limited (LSE:INAC) agreed to acquire Platinum SIPP and SSAS business of AJ Bell plc from AJ Bell plc (LSE:AJB) for up to £25 million. InvestAcc Group Limited (LSE:INAC) agreed to acquire Platinum SIPP and SSAS business of AJ Bell plc from AJ Bell plc (LSE:AJB) for up to £25 million on March 27, 2025. The Consideration will comprise £18.5 million upon completion; made up of £17.5 million in cash and £1.0 million in new InvestAcc shares, and £6.5 million of deferred consideration in cash, subject to certain conditions. AJ Bell Platinum has 3,600 customers with £3.2 billion of assets under administration which will transfer to InvestAcc on completion. In the year ended 30 September 2024, AJ Bell Platinum contributed £10.0 million to non-platform revenue. On completion of the deal, a profit on disposal of up to £25.0 million less associated transaction costs will be recognised.The disposal proceeds will further strengthen AJ Bell's capital position, which will be flowed through the Company's capital allocation framework. Following an extensive process advised by Rothschild & Co, the Group also announces that a £25.0m committed acquisition facility has been secured from Kartesia. The Facility will be used to finance the Acquisition, with further ability to scale and support the wider Group acquisition strategy in future. Following the Acquisition announcement and the signing of the Business Purchase Agreement, £5.0m of the Facility will be drawn for Acquisition fees and to support the costs associated with the extraction, migration and integration of the Platinum SIPP and SSAS clients ahead of Completion. The transaction is expected to complete in the second half of 2025 following the extraction, migration and integration of the Platinum SIPP and SSAS clients onto InvestAcc's platform.
Fenchurch Advisory Partners is acting as financial adviser to AJ Bell. Board Change • Feb 28
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Julie Chakraverty was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 14
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Julie Chakraverty was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Dec 06
AJ Bell plc, Annual General Meeting, Jan 29, 2025 AJ Bell plc, Annual General Meeting, Jan 29, 2025. Duyuru • Oct 11
Aj Bell plc Announces Executive Appointments A J Bell has announced new appointments. The firm has announced the appointment of Ryan Hughes as MD, while Stephen Westgate has been hired as group corporate development director. Hughes was made interim MD late last year. Duyuru • Sep 10
Aj Bell plc Announces Directorate Change AJ Bell announced that Roger Stott, Chief Operating Officer (COO) will be retiring and stepping down as an Executive Director of the Company on 31 December 2024. Roger joined AJ Bell in July 2008 and during his time at the Company has held a range of roles including Group Finance Director and Chief Risk Officer. He was appointed to the Board in the newly created role of COO in August 2021, taking responsibility for the operational aspects of the business. The Chief Financial Officer (CFO), Peter Birch, and Chief Technology Officer, Mo Tagari, will assume the FCA Senior Manager Function responsibilities of the Chief Operations Function (SMF 24) subject to regulatory approval. Peter continues to serve on the Board as an Executive Director having been appointed as CFO in 2022. Recent Insider Transactions • May 26
Insider recently sold €235k worth of stock On the 23rd of May, Billy Mackay sold around 51k shares on-market at roughly €4.62 per share. This transaction amounted to 3.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €527k more than they bought in the last 12 months. Declared Dividend • May 26
First half dividend of UK£0.043 announced Shareholders will receive a dividend of UK£0.043. Ex-date: 6th June 2024 Payment date: 28th June 2024 Dividend yield will be 2.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 29% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • May 25
AJ Bell plc Declares Interim Dividend, Payable on 28 June 2024 The Board of AJ Bell plc has declared an interim dividend of 4.25 pence per share, a 21% increase from prior year (Half year 2023: 3.50 pence per share), equating to 40% of last year's total ordinary dividend. It is payable on 28 June 2024 to shareholders on the register at the close of business on 7 June 2024. The ex-dividend date will be 6 June 2024. Duyuru • May 24
AJ Bell plc to Report Fiscal Year 2024 Final Results on Dec 05, 2024 AJ Bell plc announced that they will report fiscal year 2024 final results on Dec 05, 2024 Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 43% After last week's 43% share price gain to €4.98, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Capital Markets industry in Germany. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.42 per share. Board Change • May 23
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 1 experienced director. 1 highly experienced director. CEO, Member of the Management Board & Director Michael Summersgill is the most experienced director on the board, commencing their role in 2011. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Mar 28
AJ Bell plc Announces Directorate Change AJ Bell plc announced that Fiona Fry, a non-executive director of the Company, has received regulatory approval to assume the role of Chair of the Risk and Compliance Committee, succeeding Simon Turner. Fiona will also join the Remuneration Committee. Simon Turner will step down from the Board on 31 March 2024 havingserved as anon-executive director since July 2014. Board Change • Mar 21
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Fiona Fry was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jan 31
AJ Bell plc Approves Final Dividend for the Year Ended September 30, 2023 AJ Bell plc announced at annual general meeting held on January 30, 2024, the shareholders approved final dividend of 7.25 pence per share for the year ended September 30, 2023. New Risk • Jan 26
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €359k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (€359k sold). Board Change • Jan 26
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Fiona Fry was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Dec 07
AJ Bell plc Announces Final Ordinary Dividend, Payable on 30 January 2024 AJ Bell plc announced a final ordinary dividend of 7.25 pence per share, reflecting the financial strength of the business and strong capital position. The final ordinary dividend will be paid, subject to shareholder approval, at our AGM on 30 January 2024, to shareholders on the register at the close of business on 12 January 2024. Duyuru • Dec 04
AJ Bell plc Appoints Fiona Fry to Its Board of Directors as an Independent Non-Executive Director, Effective from December 7, 2023 AJ Bell announced that Fiona Fry has been appointed to its Board of Directors as an independent non-executive director with effect from 7 December 2023. Subjectto regulatory approval, Fiona will assume the role of Chair of the Risk and Compliance Committee, succeeding Simon Turner who has completed nine years' service on the Board. Fiona, a chartered accountant and highly experienced risk professional, spent the majority of her career at KPMG where, as a partner, she focused on financial services regulation. Fiona sat on the UK Board of KPMG for six years. She was previously Head of investigations at the Financial Services Authority (now the Financial Conduct Authority). Fiona is currently a non-executive director and Chair of the Risk Committee at Aviva Insurance Limited. Duyuru • Oct 19
AJ Bell plc to Report Fiscal Year 2023 Results on Dec 07, 2023 AJ Bell plc announced that they will report fiscal year 2023 results on Dec 07, 2023 Duyuru • Oct 06
AJ Bell Appoints Mark Rendle as Product Director AJ Bell has appointed Mark Rendle as its product director for advised platforms, effective this week. Mark moves from his position as head of marketing for AJ Bell Investcentre, with his new role focusing on developing AJ Bell's advised platforms, including AJ Bell Custody Solutions - the white labelled institutional platform. Building on his marketing credentials, Mark will align the well-received events and technical content AJ Bell Investcentre is renowned for with the development of the platform services to deliver maximum value to advisers. Having been with the company for over 15 years, Mark is well placed to utilise his wealth of experience at AJ Bell and in the sector to deliver the propositions advisers need to support their clients and grow their businesses. With advised customer numbers up 10% over the past year and assets under administration (AUA) at a record £47.8 billion, AJ Bell Investcentre is poised to continue supporting the vital role advisers play in ensuring their clients are able to secure the best possible financial future, particularly in the lead up to a general election and changes to fiscal policy in the coming year. Recent Insider Transactions • Aug 24
Board Member recently bought €283k worth of stock On the 18th of August, Leslie Platts bought around 86k shares on-market at roughly €3.29 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €661k more in shares than they bought in the last 12 months. Board Change • Aug 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Non-Independent & Non-Executive Director Les Platts was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jul 14
AJ Bell plc Appoints Les Platts as Non-Independent Non-Executive Director AJ Bell plc announced as announced when Andy Bell stepped down from the Board in September 2022, it was agreed that whilst he remained a significant shareholder he would retain the right to nominate a non-executive director to represent his interests on the Board. The board announced that this agreement has now been formalised, with the company having entered into a relationship agreement (Relationship Agreement) with Andy under which he is entitled to certain rights, including the nomination of a non-independent non-executive director for appointment to the board for as long as he and his connected persons hold a significant proportion of the company's voting rights. Pursuant to the Relationship Agreement, AJ Bell announced the appointment of Les Platts, who has been nominated by Andy, as a non-independent non-executive director of the company with immediate effect. Les, a former Deloitte senior partner, was the chair of the Company before stepping down at the conclusion of the January 2022 AGM, having then served for more than 9 years on the Board. Duyuru • Dec 20
AJ Bell plc, Annual General Meeting, Feb 08, 2023 AJ Bell plc, Annual General Meeting, Feb 08, 2023, at 12:00 Coordinated Universal Time. Location: 4 Exchange Quay, Salford Quays Machester United Kingdom Duyuru • Dec 01
AJ Bell plc Announces Final Ordinary Dividend AJ Bell plc announced that final ordinary dividend of 4.59 pence per share, reflecting the financial strength of the business and strong capital position. The final ordinary dividend will be paid, subject to shareholder approval at AGM on 8 February 2023, to shareholders on the register at the close of business on 20 January 2023. This brings the total ordinary dividend for the financial year to 7.37 pence per share, representing an increase (excluding the special dividend in the prior year) of 6% on the previous year. Duyuru • Nov 16
AJ Bell plc to Report Fiscal Year 2022 Results on Dec 01, 2022 AJ Bell plc announced that they will report fiscal year 2022 results on Dec 01, 2022 Duyuru • Aug 23
AJ Bell plc Announces Nomination Committee Changes AJ Bell plc announced that Margaret Hassall and Eamonn Flanagan, both of whom are independent non-executive directors, have been appointed as members of the Nomination Committee with effect from 1 September 2022. Following these appointments, the Nomination Committee will be comprised of Baroness Helena Morrissey, as chair, Evelyn Bourke, the senior independent director,Margaret Hassall and Eamonn Flanagan. 
