Stocks of the Hour: KNeoMedia, ClearView Wealth, Steadfast Group
A snapshot of the stocks on the move, featuring KNeoMedia (ASX:KNM), ClearView Wealth (ASX:CVW) and Steadfast Group (ASX:SDF).
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Steadfast Group Limited
Steadfast Group is the largest general insurance broker network and the largest group of underwriting agencies in Australasia, with growing operations in Asia and Europe.
Steadfast Group has three business units primarily focused on the intermediated general insurance market. By working together, our three business units empower Steadfast to serve our main goal – ensuring our brokers provide their clients with exceptional service and superior products.The Steadfast Network has 480 general insurance brokerages in Australasia who receive superior market access, exclusive products and services, backed by the size and scale of the Steadfast Group.
Brokers in the Network have access to over 160 products and services which support their business and allow them to focus on their clients’ insurance and risk management needs. Key benefits to being a Steadfast Network broker include improved policy wordings, broker services, exclusive access to Steadfast’s technology and triage support for challenging claims.
Insurer partners have access to over $6.1 billion of gross written premium from the small-to-medium enterprise market through the Steadfast Network.
Spotlight Videos
Stocks of the Hour: KNeoMedia, ClearView Wealth, Steadfast Group
A snapshot of the stocks on the move, featuring KNeoMedia (ASX:KNM), ClearView Wealth (ASX:CVW) and Steadfast Group (ASX:SDF).
WATCH VIDEOAll Steadfast Group Limited Content
News
Steadfast Upgrades Full Year Guidance After Solid Q1
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.
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Insurers Diverge As QBE Flags Big Loss, Steadfast Upbeat
In 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.
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Steadfast Moves To Reassure
Having withdrawn guidance in March, Steadfast Group has moved to reassure investors that earnings momentum is sound.
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Analysing Steadfast As An Investment Opportunity
Following 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).
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Analyst Views
SDF – Credit Suisse rates the stock as Outperform
The 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.
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SDF – Macquarie rates the stock as Outperform
Outperform rating and $4.70 price target are retained.
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SDF – UBS rates the stock as Buy
First 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.
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SDF – Macquarie rates the stock as Outperform
Outperform rating retained for Steadfast Group as the broker concludes premium rate increases continue to support the investment case. Target price is $4.30.
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SDF – Citi rates the stock as Buy
FY20 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.
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