Challenger reports strong Q1 growth
Challenger (ASX:CGF) posted strong first-quarter results for FY25, with total assets under management increasing to $128 billion, up 1%.
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Apollo Global Management halves stake in Challenger
Challenger (ASX:CGF) shares fell by more than 13% on Thursday after its largest shareholder, American investor Apollo Global Management, more than halved its stake in the Sydney-based investment group.
Read MoreChallenger’s AUM grows amid profit dip
Sydney-based investment manager, Challenger (ASX:CGF) produced a mixed earnings result for 2023-24, as assets under management (AUM) grew 21% but statutory net profit fell from the previous year.
Read MoreLittle Going Right for Challenger as Shares Fall 10%
Challenger shares fell more than 10% yesterday as its annual profit took a huge hit from the June half slide in markets, while its $35 million adventure into banking is coming badly unstuck.
Read MoreCGF – Morgans rates the stock as Add
Morgans maintains its Add rating and raises its target price to $8.21 from $8.14.
Read MoreCGF – Credit Suisse rates the stock as Neutral
The Neutral rating is retained and the target price increases to $7.60 from $7.00.
Read MoreCGF – Macquarie rates the stock as Neutral
Neutral retained, target falls to $6.60 from $6.70.
Read MoreMarket Morsels: CGF, SGP
Forecast updates from both Challenger and Stockland during Thursday’s ASX trading session, with both reinstating previous guidance and offering positive profiles moving forward.
Read MoreChallenger Sidles Toward Banking
Annuities specialist and fund manager Challenger is heading deeper into banking after posting a half-year profit of $282 million and lifting interim dividend 21% to 11.5 cents a share.
Read MoreCGF – UBS rates the stock as Neutral
The broker retains a Neutral rating and raises the target to $6.25 from $6.10.
Read MoreChallenger Holders Get Div Back, Lose CEO
Shareholders in Challenger, the country’s largest annuities provider, regained a dividend but lost a CEO in Tuesday’s full year results that were broadly in line with the guidance provided last month.
Read MoreSynergies Drive Apollo Stake in Challenger
Apollo Management and its offshoot Athene Life Re have raided annuity group Challenger Financial Group, grabbing an 18% shareholding – but don’t seem to have any plans for a full bid.
Read MoreNewsflash – Seven West, Challenger, Whitehaven Coal
Updates Thursday from the Kerry Stokes-controlled Seven West Media, annuities group Challenger, and NSW miner Whitehaven Coal had varying effects on their respective share prices.
Read MoreCGF – Credit Suisse rates the stock as Neutral
Ahead of the investor briefing, Credit Suisse reiterates a Neutral rating and $6.05 target.
Read MoreCGF – Credit Suisse rates the stock as Downgrade to Neutral
Credit Suisse downgrades to Neutral from Outperform, assessing the recovery story is delayed. Target is reduced to $6.05 from $6.65.
Read MoreChallenger Comes up Short Despite Growth Spurt
Challenger’s investors didn’t seem to like the figures in the financial group’s third quarter update, despite it looking good on paper with further growth across the business.
Read MoreChallenger Shares Plummet on Patchy Performance
Shares in annuities specialist Challenger plunged more than 14% yesterday after investors gave the half year results the thumbs down.
Read MoreCGF – Morgans rates the stock as Hold
Morgans updates the Insurance/Diversified Financials sector earnings on a mark-to-market basis and a broad review of earnings assumptions, and believes Challenger is one of the best positioned of the large cap stocks to produce solid/stable results. Target price is $6.80.
Read MoreCGF – Macquarie rates the stock as Outperform
After reviewing capital concerns, Macquarie concludes that Challenger is in a materially stronger capital position, compared with peers during the GFC, amid the now tighter regulatory oversight.
Read MoreNo Final Dividend As Challenger Drops Into The Red
A decision to drop its final dividend tells us all we want to know about the outlook for Challenger Ltd, the Sydney-based annuities giant. The company revealed the decision in its full-year results announcement yesterday.
Read MoreCGF – Credit Suisse rates the stock as Neutral
Credit Suisse calculates that the company’s capital position dropped to the lower end of the target range in March because of the large expansion in sub-investment-grade credit spreads and a drop in equity markets.
Read MoreCGF – Credit Suisse rates the stock as Neutral
The company has announced its capital position at the end of March amid a de-risking of its investment portfolio. Credit Suisse calculates investment experience losses, not disclosed, represent around 6.5% of the investment assets.
Read MoreCGF – Macquarie rates the stock as Neutral
The company has reverted back to its original guidance, expecting a pre-tax profit range of $500-550m as opposed to the top end of the range.
Read MoreCGF – Macquarie rates the stock as Outperform
After a challenging period for Challenger, Sep Q total book growth exceeded expectations thanks to Japanese annuity sales and growth in guaranteed income products. Local fixed-term sales are holding up, Macquarie notes, despite low-interest rates.
Read MoreDon’t Rush Into Buying Challenger Shares
Challenger (ASX:CGF) has been a market darling for many years. However, the last 18 months has seen an almost halving of the share price. Does this mean that is now a fantastic buying opportunity?
Read MoreCGF – Morgans rates the stock as Hold
FY19 net profit was below expectations and at the bottom of the target range of $545-565m, Morgans notes. Overall, the broker considers the result underpins confidence that the earnings profile has largely been re-based.
Read More“Lower-For-Longer” Rates Weigh On Challenger
Investors in Challenger Ltd slowly cooled to the company’s 2018-19 result yesterday which while meeting revised guidance in June (the second downgrade in five months) saw no change in what looks like a slow outlook.
Read MoreHeadwinds Build For Insurers And Wealth Managers
As FY20 unfolds, falling global bond yields will produce headwinds for the general insurance sector while wealth managers could enjoy a short-term uplift to recurring revenue.
Read MoreCGF – Credit Suisse rates the stock as Neutral
Credit Suisse has concluded that ongoing weak sales is a more severe earnings headwind for the company, compared with annuity spreads. The company has also guided to FY20, which implies -7-12% downgrades to forecasts.
Read MoreLower Rates A Challenge For Challenger
Challenger shares were sold off yesterday on the second earnings downgrade in four months.
Read MoreCGF – UBS rates the stock as Neutral
The company has extended its reinsurance quota share with MS&AD subsidiary, MS Primary, to encompass US dollar as well as Australian dollar denominated annuities.
Read MoreChallenger Meets Downgraded Expectations
A very different market reaction today to Challenger’s confirmation of a weak net profit of just $6.1 million in the December half, compared to the January 23 downgrade and reworked guidance when they plunged 17%.
Read MoreChallenger Challenged By Market Volatility
Well, that was an unexpected shock for Challenger Ltd, the annuities and fund management group whose shares were well and truly punished yesterday after it revealed that first-half earnings had been almost wiped out by the volatile stock markets in November and December.
Read MoreAnnuity Sales Lift Challenger
The super boom, rising employment and the ageing population have helped annuities group, Challenger to report a 21% jump in net profit to nearly $400 million for the year to June 30.
Read MoreOpportunities In An Ageing Population
An ageing population is a major demographic and economic issue affecting most advanced economies around the world and Australia is no exception. In today’s Investing Report, we highlight eight stocks we believe are best placed to benefit.
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