2nd Jul 2019 15:00
(Alliance News) - XPS Pensions Group PLC said Tuesday Schroders PLC has built its stake in the company while US investment manager BlackRock Inc has sold some of its holding.
In two separate transactions on Friday, FTSE 100-listed wealth manager Schroders upped its stake in XPS to 6.0% from below the 5% threshold. Schroders' exact holding was not reported. Schroders' holding represents 12.2 million of XPS's 203.9 million issued shares.
Meanwhile, BlackRock lowered its holding to 5.0% from 8.7%, representing about 10.1 million of XPS shares.
XPS was trading 0.2% higher Tuesday in London at 98.99 pence each. The company's shares are down 38% in the past week after the pensions firm reported a dramatic rise in annual profit but warned pension revenue will be flat in the current year and profit will be hurt by a one-off increase in central costs.
Schroders shares in London were 0.8% lower Tuesday at 3,084.00 pence each.
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SchrodersXps Pensions