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Brokers News

Brokers News

Praemium lives up to broker’s expectations

brokers

As part of our broker monitoring, FinFeed advised in mid-August that Ivor Ries from Morgans CIMB had upgraded Praemium’s (ASX: PPS) share price target from 49 cents to 57 cents after the company exceeded his profit expectations. This implied share price upside of 40% at that time.

Ries also upgraded forward earnings estimates with the expectation that the company would use its relatively robust balance sheet to continue to invest in technology which would make it more competitive in the self-managed superannuation accounts segment.

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Brokers News

A.P. Reid Insurance to acquire Robinson Insurance Brokerage

brokers

A.P. Reid Insurance Ltd. has recently announced plans to acquire Robinson Insurance Brokers of Edmonton.

Robinson’s brokerage operations will integrate under the A.P. Reid brand effective November 01. Daniel Robinson, current president and owner of Robinson, will remain as the team’s western region manager. A.P. Reid’s Edmonton office and the Robinson office will combine to create a western regional office to be led by both Robinson and A.P. Reid western business development manager Kathleen Corkum. All Robinson staff is expected to remain.

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Brokers News

Zacks estimates the earning of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

brokers

Zacks is expecting mean Earnings Per Share (EPS) of $0.4 (£0.30) for Interactive Brokers Group, Inc. (NASDAQ:IBKR) as of 2017-09-30. This will be for the year ended 2017. The $0.395 (£0.30) is predicted to be the median EPS. 2 analysts estimates is what is applied in the calculation of estimate with the mean estimate from the 2 research firms being the base number. Nonetheless, the research firms must have had a recent issue of reports on the company.

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Brokers News

Brokers pitch Genting on Star Entertainment stake

brokers

At least one investment bank is learnt to have pitched Genting Group on a potential block trade of its stake in Star Entertainment Group in the past week, according to sources.

Genting, which controls Asia’s second-biggest gaming company, Genting Singapore, and is owned by Malaysian gaming mogul KT Lim, holds a 6.6 per cent stake in Star Entertainment (the rebadged Echo Entertainment). It has been approved to purchase up to 23 per cent.

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Brokers News

TRB Realty brokers $23.65 million (£17.89 million) sale of 120 and 130 Worcester Road

Brokers

TRB Realty (TRB) negotiated the $23.65 million (£17.89 million) sale of the 184-room Magnuson Hotel Framingham and the British Beer Company restaurant at 120 & 130 Worcester Rd. (Rte. 9). The sale included the 96,206 s/f hotel and the 6,863 s/f freestanding restaurant all on 5 acres. The seller was 120 Worcester Corp. The buyer declined to be identified.

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Brokers NewsHighlight

Six brokers on SRC penalized by SEC

brokers

The Securities and Exchange Commission has penalized six local stock brokerage houses, citing failure to comply with requirements under the 2015 implementing rules and regulations of the Securities Regulation Code, some provisions of which are still being disputed in court.

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