NAB's MLC Sale Unlikely to Sway Investment Decisions -- Market Talk

Dow Jones

Dec 12, 2024

0040 GMT - National Australia Bank's sale of its remaining stake in MLC Life Insurance is unlikely to have any impact on key investment decisions at the lender, Morgan Stanley analyst Richard E. Wiles says. He writes in a note that the A$500 million sale of the 20% stake to Japan's Nippon Life is consistent with NAB's strategy and will have no material impact on cash earnings. Wiles reckons that the sale will lift NAB's CET 1 capital ratio to a pro-forma 12.3%, implying A$3.4 billion of excess capital. He assumes that NAB will dedicate A$3 billion of this to further share buybacks. MS has an overweight rating and an A$38.40 target price on the stock, which is up 0.1% at A$37.64. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

December 11, 2024 19:40 ET (00:40 GMT)

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Wiles says. He writes in a note that the A$500 million sale of the 20% stake to Japan's Nippon Life is consistent with NAB's strategy and will have no material impact on cash earnings. Wiles reckons that the sale will lift NAB's CET 1 capital ratio to a pro-forma 12.3%, implying A$3.4 billion of excess capital. He assumes that NAB will dedicate A$3 billion of this to further share buybacks. MS has an overweight rating and an A$38.40 target price on the stock, which is up 0.1% at A$37.64. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 11, 2024 19:40 ET (00:40 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NAB's MLC Sale Unlikely to Sway Investment Decisions -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNAB's MLC Sale Unlikely to Sway Investment Decisions -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-12-12 08:40</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0040 GMT - National Australia Bank's sale of its remaining stake in MLC Life Insurance is unlikely to have any impact on key investment decisions at the lender, Morgan Stanley analyst Richard E. Wiles says. He writes in a note that the A$500 million sale of the 20% stake to Japan's Nippon Life is consistent with NAB's strategy and will have no material impact on cash earnings. Wiles reckons that the sale will lift NAB's CET 1 capital ratio to a pro-forma 12.3%, implying A$3.4 billion of excess capital. He assumes that NAB will dedicate A$3 billion of this to further share buybacks. MS has an overweight rating and an A$38.40 target price on the stock, which is up 0.1% at A$37.64. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 11, 2024 19:40 ET (00:40 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4207","symbol_name":"综合性银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2490848939","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2490848939","pubTimestamp":1733964000,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0040 GMT - National Australia Bank's sale of its remaining stake in MLC Life Insurance is unlikely to have any impact on key investment decisions at the lender, Morgan Stanley analyst Richard E. 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He writes in a note that the A$500 million sale of the 20% stake to Japan's Nippon Life is consistent with NAB's strategy and will have no material impact on cash earnings. Wiles reckons that the sale will lift NAB's CET 1 capital ratio to a pro-forma 12.3%, implying A$3.4 billion of excess capital. He assumes that NAB will dedicate A$3 billion of this to further share buybacks. MS has an overweight rating and an A$38.40 target price on the stock, which is up 0.1% at A$37.64. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 11, 2024 19:40 ET (00:40 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}