We keep a keen on on the South African stock market, and we have always been particularly fond of lesser known asset manager and hedge fund manager Peregrine (PGR).
They extremely cash generative, serve a particular niche market and they have a strong foothold in the segment they operate it. And to our bitter disappointment the share price performance of the group has been less than flattering in the recent past. Partly because their earnings are directly linked to the performance of the markets, which has been less than stellar in recent times.
Peregrine share price history. Currently trading at R20.80 a share
The graphic below shows the share price history of Peregrine over the last 5 years. While their latest financial performance did not shoot any lights out and looks rather flat, encouraging to see is the increase in the dividend payout announced by the group.