Bushfire Impact: Affected Stocks
With the prolonged bushfire crisis now abated thanks to the efforts of Mother Nature and tireless firefighters, Tim Boreham ponders the effect of the firestorm on listed equity exposures.
Read MoreTag: SUN
SUN – UBS rates the stock as Buy
Suncorp’s lending portfolio contracted -0.6% over the first quarter, resulting in a -0.1% decline on the prior corresponding quarter. UBS notes the larger housing book declined -0.6% reflecting increased competition and a subdued market backdrop.
Read MoreSUN – Citi rates the stock as Buy
Allowing for a small reduction in profit as a result of the sale of Capital SMART and ACM Parts to AMA Group ((AMA)), Citi reduces estimates for earnings per share in FY20 by -1%.
Read MoreCBA Concludes Count Financial Deal, Suncorp Sells Smash Repairs Arm
Two deals from two financial groups yesterday have again confirmed the push to sell non-relevant assets continues in the wake of the Hayne royal commission.
Read MoreSuncorp Confirms Steve Johnston As CEO
Suncorp shares hardly moved yesterday after the financial group named Steve Johnston as its next chief executive.
Read MoreSUN – UBS rates the stock as Buy
FY19 results signal to UBS the company has solid leverage to commercial rate increases. However, volume losses across personal lines remain an issue. Results were in line with expectations.
Read MoreSuncorp Sweetens Shareholders As Profit Slides
Shares in Suncorp rose 4.9% yesterday after it announced plans to distribute the $506 million surplus from the Australian Life Insurance business to shareholders, plus a share consolidation.
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 MoreSUN – Macquarie rates the stock as Underperform
Macquarie continues to envisage earnings headwinds for Suncorp and a risk to consensus estimates. The broker believes the company’s cash return targets are becoming increasingly unachievable. Some change to FY20 guidance is expected at the August result.
Read MoreSuncorp Hit With Class Action Over Advice Fees
Suncorp shares edged higher in yesterday’s generally stronger market (the ASX 200 was up 0.4%) after it released a short statement saying it had received notice of a class action being filed against it involving superannuation commissions paid to financial advisers.
Read MoreSurprise Departure From Suncorp CEO
In a surprise yesterday Suncorp CEO Michael Cameron stepped down after almost four years in charge of the Brisbane-based banking and insurance group.
Read MoreSUN – Credit Suisse rates the stock as Neutral
Credit Suisse expects the increased natural hazards allowance and reinsurance cover for FY20 will reduce the downside risk to earnings. This should be a benefit by way of a reduced discount to Insurance Australia Group ((IAG)).
Read MoreIs Separation The Way Forward For Suncorp?
Amid flat loan growth in the March quarter, brokers ponder the prospect of Suncorp separating its banking business.
Read MoreSUN – Macquarie rates the stock as Underperform
Macquarie considers impairment levels in the March quarter are unsustainable. The broker continues to expect margin pressure and believes the company needs to lower its margin guidance range by -5-10 basis points in FY20.
Read MoreSuncorp Struggles Against Multiple Headwinds
Shareholders in Brisbane-based insurer and bank, Suncorp face a tough year as the company’s profits have been hit by the surge in natural disaster claims and the weak home lending and consumer finance markets.
Read MoreTime To Bank On The Small Fry?
Not everything’s going right for the smaller banks, but the findings of the Hayne Royal Commission present a perfect opportunity to woo discontented Big Four customers. Should investors follow?
Read MoreSuncorp Set To Hand $600m Back To Shareholders
Suncorp says it will return $600 million to its shareholders after completing the $725 million sale of its Australian life insurance unit to Japanese-owned TAL Dai-ichi Life.
Read MoreSpecial Div As Suncorp Joins Life Insurance Exit
Insurer Suncorp has confirmed it is selling its troubled life insurance business as it reported a slightly lower profits, but handed out a special 8 cents a share dividend to shareholders.
Read MoreSuncorp Sell Fails To Convince
Suncorp shares took a pounding yesterday despite the financial services and insurance group lifting dividends by 7% and promising a high payout ratio as the company steps up investment.
Read MoreKiwi Regulator Blocks Suncorp Bid For Tower
Suncorp is facing a multi-million dollar loss after its takeover of Tower Insurance was blocked by the NZ competition regulator, the Commerce Commission.
Read MoreSuncorp Eyes Tower Takeover
Suncorp (SUN) is expected to shortly reveal a rival offer for troubled NZ insurer, Tower (TWR) with a value of more than $NZ220 milion.
Read MoreSuncorp Mulls Life Insurance Exit
Suncorp (SUN) has joined the rush to ‘review’ and clean up its underperforming life insurance business as the sector continues to pressure insurers. Suncorp revealed that earnings from its life business halved in the six months to December in reporting a weak 1.3% rise in statutory half-yearly net profit.
Read MoreSuncorp Slumps On Disaster Blow-Out
Suncorp (SUN) shares fell more than 3% yesterday after it revealed another tough half year from natural disasters.
Read MoreStorms Damage Suncorp Earnings
Shareholders in Brisbane-based financial services group, Suncorp, face a smaller dividend after the company unveiled an 8.4% fall in net profit for the year to June 30.
Read MoreBad Weather Claims Suncorp
Now that was a well-timed retirement at Suncorp (SUN) which yesterday reported a slide in interim profit and cut its half year payout to shareholders as a result.
Read MoreSuncorp Sinks On Profit Downgrade
Suncorp (SUN) shares fell more than 10% at one stage yesterday after the company joined QBE and Insurance Australia Group (IAG) in downgrading its December half year insurance profit guidance and performance data.
Read MoreSuncorp Undersells Results
Suncorp (SUN) can be its own worst enemy – yesterday’s news releases about the result spun the wrong points – the 100% payout wasn’t the big news, nor was the multitude of profits reported – it was that the company had withstood a pretty savage whack from natural disasters in 2014-15 and had lived to tell the tale.
Read MoreSuncorp Profit Up 55%
Brisbane-based bank and insurance group Suncorp (SUN), will pay out 100% of its 2014-15 profits, the group revealed in today’s profit statement and accounts.
Read MoreSuncorp Finds A New CEO
Investors yesterday accepted the move of GPT CEO Michael Cameron to become CEO of Suncorp (SUN).
Read MoreMarcia Hurts Suncorp
Brisbane-based insurer and banking group Suncorp (SUN) has effectively cut its 2014-15 profit forecast after yesterday revealing a larger than expected cost from Cyclone Marcia’s sweep through central Queensland last month.
Read MoreSuncorp Lifts Earnings, Dividend, But Life Business Weak
Suncorp Group (SUN) shares jumped by close to 5% at one stage yesterday after the company confidently forecast a stronger 2014-15 and met investor hopes with a special payment, on top of a higher normal dividend payout.
Read MoreSuncorp’s Writedown Woes Eased By Dividend
Suncorp (SUN), the Brisbane based financial services group, has become yet another company to separate bad news from a formal investor day presentation or annual meeting.
Read MoreNatural Hazards Impact Suncorp Profit
Queensland based financial services company, Suncorp Group (SUN) reported a worse than expected 4.5% drop in half year profit to $548m.
Read MoreSuncorp To Pay Special Dividend Despite Mixed Results
Suncorp (SUN) shareholders are to again receive a special dividend this year, despite a nasty problem appearing in the group’s life insurance business.
Read MoreSuncorp Completes Its Rebirth From GFC Black Hole
Brisbane-based financial services group, Suncorp (SUN), is attempting to clean up its balance sheet and get rid it of its ‘non-core’ or bad bank loans – at a cost of close to half a billion dollars in losses to be reported in the 2012-13 full year results in August.
Read MoreSuncorp Confident Of Boosting Revenues And Returns In Next Two Years
Brisbane-based Suncorp (SUN) told an investors day briefing that it is now targeting what it calls "top line growth" of 7% to 9% over the next couple of years and wants to boost return on equity to 10% by 2015.
Read MoreUpdates: Suncorp’s Expensive Insurance Exposure
Suncorp confirmed yesterday that its over-exposure to insurance is still hurting the company.
Read MoreProfits: Suncorp’s Better Result
At least Suncorp Metway shares managed to hang onto some of their early gains yesterday from the released annual figures for the June 30 year that looked much sounder than those produced for 2009 and 2008.
Read MoreSuncorp Sells Its Life Insurance Appeal
A look at the Suncorp-Metway share price graph will tell us that the financial group is going nowhere as investors wait to see evidence that the new CEO, Patrick Snowball, can boost returns from a mix of business that has already disappointed.
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