Professional
Added to YB: 2024-04-01
Pitch date: 2024-03-28
EG7.IR [bullish]
FBD Holdings plc
+52.31%
current return
Author Info
Symmetry Invest is a portfolio that focuses on Small- and Mid-cap stocks primarily in Europe and the USA. The long-term objective is to deliver the highest possible growth in net asset value per share at the lowest possible risk. Visit their website.
Company Info
FBD Holdings plc, through its subsidiaries, engages in the underwriting of general insurance to farmers, private individuals, and business owners in Ireland.
Market Cap
EUR 488.2M
Pitch Price
EUR 10.05
Price Target
39.15 (+156%)
Dividend
14.71%
EV/EBITDA
3.05
P/E
7.43
EV/Sales
0.84
Sector
Insurance
Category
value
Symmetry Invest A/S Portfolio Holding: FBD Holdings plc
FBD: Mkt-leading Irish ag insurer, 60%+ share. New mgmt since '16 executing well: 8% GWP growth, strong COR, +ROI, high divs. 213% solvency (150-170% target), excess capital returned via divs & buybacks. 19% ROE, 22% on 'target equity'. Investment returns improving (0.8% historical to 3%+). Trades cheap: 16.5% div yield, 0.9 P/B, 4.5 norm P/E. 150-200% upside to peer levels in 12mo.
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