Running gains

With UK equity markets bouncing back to record highs, it’s hardly surprising that the share prices of asset managers have been performing well, one of which is Miton (MGR:52.5p), which hit my long-term target price of 55p, having surged from 38.5p at the start of the year (‘Exceeding expectations’, 15 January 2018), and from 43p when I covered the full-year results (‘Small-cap earnings beats’, 21 March 2018). For good measure you will have also banked the 1.4p-a-share final dividend, taking the aggregate dividends to 3.67p a share since I initiated coverage, at 23p, just over three years ago ('Poised for a profitable recovery', 4 April 2015).

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