Steadfast’s Growth Outlook Underpinned by Expanded Products and Services. AUD 2.80 FVE Unchanged
No-moat-rated general insurance broker Steadfast Group’s recent annual investor day confirmed our positive long-term view on the fast-growing business. Our five-year CAGR EPS growth forecast of 11% underpins our unchanged AUD 2.80 fair value estimate. At current prices, the stock is undervalued trading 8% below our valuation. Longer term, we expect stronger market conditions and improved insurance pricing to justify our positive view. Based on an approximate 55% cash profit dividend payout, the ...Steadfast Group is engaged in the provision of services to Steadfast Network Brokers, the distribution of insurance policies via insurance brokerages and underwriting agencies, and related services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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