Steadfast expands in London with HW Wood acquisition
Steadfast Group (ASX:SDF) has announced its expansion in the London insurance market with the 100% acquisition of HW Wood and HWI France.
Read MoreSteadfast Group (ASX:SDF) has announced its expansion in the London insurance market with the 100% acquisition of HW Wood and HWI France.
Read MoreA snapshot of the stocks on the move, featuring KNeoMedia (ASX:KNM), ClearView Wealth (ASX:CVW) and Steadfast Group (ASX:SDF).
Read MoreThe broker continues to envisage upside risk from organic tailwinds, notwithstanding some cost catch up in the fourth quarter. Outperform rating and $4.60 target maintained.
Read MoreOutperform rating and $4.70 price target are retained.
Read MoreFirst half operating earnings were ahead of UBS estimates. Equity broking was the surprise, with strong operating leverage likely driven by lower expenses. Buy rating and $4.38 target retained.
Read MoreOutperform rating retained for Steadfast Group as the broker concludes premium rate increases continue to support the investment
case. Target price is $4.30.
Shares in financial and insurance services company Steadfast Group jumped 6.07% yesterday to a near-two month high of $3.85 after it upgraded full-year guidance on the back of a strong first quarter.
Read MoreFY20 earnings were slightly below Citi’s forecast. FY21 guidance for earnings growth of 5-10% is in line with expectations. The company has guided to underlying EBITA of $235-245m and underlying net profit of $115-122m.
Read MoreIn this very difficult year dominated by the COVID-19 pandemic and its varying impact we saw two very different updates yesterday from different parts of the insurance industry for the year or half-year to June 30.
Read MorePremium rate increases have not moderated and support the outlook, Macquarie suggests.
Read MorePremium growth on the client trading platform has been tracking behind target but increased broker uptake of the INSIGHT platform, along with the expansion of auto-rating to additional classes, is expected to clear bottlenecks to growth from the second half of FY21.
Read MoreHaving withdrawn guidance in March, Steadfast Group has moved to reassure investors that earnings momentum is sound.
Read MoreFirst half results beat Credit Suisse estimates. The broker appreciates the fact the business is setting up for sustainable earnings, but growth remains below what can be expected in a positive premium rate environment.
Read MoreFollowing the release of full-year results to 30 June 2019 (FY19) and a pullback in the share price, we analyse the fundamentals and technicals of Steadfast Group (ASX:SDF).
Read MoreThe company has entered a bid implementation agreement with IBNA following the announcement in June. Also, Steadfast Group is seeking expressions of interest to acquire the total rebate from network brokerages in Australasia.
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