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Investing.com - Deutsche Bank (ETR:DBKGn) lowered its price target on Liontrust Asset Management (LON:LIO) to GBP3.50 from GBP4.00 on Monday, while maintaining a Hold rating on the stock.
The price target reduction follows Liontrust’s recent fiscal year 2025 results and the implementation of a new dividend and capital policy that includes a significant cut to shareholder payouts.
Deutsche Bank noted that the new dividend policy represents a material reduction, with its dividend per share estimates changing from 29 pence to 20 pence for both fiscal years 2026 and 2027, marking a 31% decrease from previous forecasts.
The bank pointed out that the revised dividend estimates are 72% below Liontrust’s previously targeted 72 pence per share, reflecting the substantial shift in the company’s capital allocation strategy.
Despite the dividend reduction, Deutsche Bank made only minor adjustments to its earnings forecasts, with fiscal years 2026 and 2027 adjusted earnings per share estimates changing from 40.8 pence and 37.7 pence to 41.0 pence and 38.8 pence respectively, representing no change and a 3% increase.
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