Morningstar - Suncorp Group Limited (SUN) Suncorp CEO Pays the Price For Underwhelming Growth. FVE AUD 14.50 Unchanged

Report

Morningstar

David Ellis

EUR 100.00 For Business Accounts Only

Suncorp CEO Pays the Price For Underwhelming Growth. FVE AUD 14.50 Unchanged

No-moat Suncorp Group surprised no-one with the announcement CEO Michael Cameron is stepping down. In our first-half fiscal 2018 result note published in February 2018 we stated â€œLonger-term we are positive on earnings growth, but any slip up will put increasing pressure on CEO Michael Cameron. Cameron started as CEO in late 2015 and financial results have been underwhelming. Cash earnings fell 8% in fiscal 2016, increased 3.6% in fiscal 2017 and we forecast a 7% decline in fiscal 2018--not an i...

27/05/2019 15 EN

Underlying

Suncorp Group Limited

Suncorp Group is engaged in the general insurance, banking, life insurance, superannuation products and related services to the retail, corporate and commercial sectors. Co.'s segments are: Personal Insurance, which include home and contents insurance, motor insurance and travel insurance; Commercial Insurance, which include commercial motor insurance, commercial property insurance and marine insurance; General Insurance, which include home and contents insurance, motor insurance, marine insurance; Bank, which include personal and commercial banking; and Life, which include financial planning and funds administration services.

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AU000000SUN6 Australian Securities Exchange Australia

Provider

Morningstar

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.

We have operations in 27 countries.

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Analysts

David Ellis

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Suncorp CEO Pays the Price For Underwhelming Growth. FVE AUD 14.50 Unchanged

Moody’s Ratings downgrades SGL's issuer ratings to A3; outlook stable

Moody's Ratings announces completion of a periodic review of ratings of Suncorp Group Limited

Enterprise Group Inc. (TSX: E / OTCQB: ETOLF) – Blows Past Our Q1 Estimates

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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