QBE 1H16 NPAT of US$265m was 10% below consensus. Growth in insurance margins remain elusive and return on invested capital shows little sign of improving in the low bond yield world.
Forecast FY17 dividends are likely to be at or near US$0.51 per share, placing the stock on a forward yield of 5%.
Author: Leon Hinde
Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.
PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:
· Deposit Products
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks