Below are some of the most topical Banks & Financials stocks in the BWI Shareholder Confidence Index based on our daily chats with global investors.
Aon PLC:
The US insurance sector stock prices have performed very well since October, 2023. One name that has lagged in regards to performance over that timeline is Aon. Investors have decreasing Commitment to Own the name in the year ahead. Investors ownership conviction is well below both their peer group and the sector average. Investor confidence in the CEO has decreased over the last quarter, particularly following the recent NFP M&A announcement. Concerns about the long-term success of the deal have contributed to this decline.
Citigroup Inc.:
Among the big banks in the US, investors rated Citi below both the peer group average in 2023 on nearly all of BWI’s metrics. Following their 4Q earnings call and Jane Fraser’s restructuring plan, investor confidence in strategy, CEO, Price Appreciation Potential and momentum of investor confidence has increased.
Canadian Bank of Imperial Commerce:
The top performing stock price among Canadian banks in 2023 was CIBC. A year ago, CIBC was noticeably trailing the Canadian bank peer group average with respect to investor Commitment to Own. Investors are rating CIBC’s Strategy and Long-Term Growth profile higher in 1Q so far. However, due to their strong performance in 2023, investors are slightly less confident in CIBC’s Price Appreciation Potential for the year ahead.
Chubb Ltd:
Chubb’s stock price has been steadily rising since 2020. However, there is concern from investors regarding how much longer the stock can continue to rise. This concern is reflected in Chubb’s Price Appreciation Potential score. Chubb finds itself below both the peer group and sector averages, in contrast to their highly competitive scores in other quality metrics. Investors are not entirely onboard with their plans to expand into Asia, however some investors believe in giving them the benefit of the doubt regarding their acquisition strategy. (Click here for the Investor Intelligence Report on Chubb Ltd)
If you would like to chat about Financial equities including activist scenarios and turnaround targets, please send an email to jnovak@brendanwood.com, gpeck@brendanwood.com or mlapointe@brendanwood.com
Largest Changes Investor Confidence in Price Appreciation Potential (YE 1Q2024 As Of Feb 22 vs. YE 4Q2023):
EQB Inc.: 9.5%
Bank of New York Mellon: 9.5%
Paypal Holdings Inc.: 7.9%
Allstate Corp.: 7.0%
Charles Schwab Corp.: 6.0%
Prudential PLC: -8.9%
Brookfield Asset Management: -7.0%
Global Payments Inc. : -5.0%
Manulife Financial: -4.8%
Travelers Companies Inc: -4.2%
Click here for the Investor Conviction Intel for Banks and Financials January 2024
Brendan Wood International (BWI) serves a dual clientele of world leading investors and their corporate investment targets as well as broker dealers who provide research, sales and trading services to the investment community. Big cap companies looking for comprehensive investor confidence data on their organizations are likely to discover that Brendan Wood partners consult with their investors non stop year round. Investors depend on BWI to quantify the demand side of the investment industry across 1400 names worldwide, including the name by name research sales and trading professionals who influence investor demand.
About Brendan Wood International:
Brendan Wood International (BWI), formed in 1970, is a private advisory group which originates performance investigation programs in the capital markets. Brendan Wood Partners debrief large institutional investors worldwide on a daily basis. There are 2000+ live consultations with professionals overseeing +/- $55 trillion invested in the +/- 1400 big cap companies on the BWI Index. Relying on its real time performance intelligence, BWI advises public companies, institutional and activist investors, investment banks and broker dealers on strategy, performance and recruitment of TopGun talent. The firm’s partners have formally presented at 1000+ C level strategy meetings and corporate off-sites in fifty cities. Brendan Wood founded the exclusive TopGun Club, a performance based institution.
Disclaimer:
We wish to emphasize that all reports, evaluations and assessments contained herein, represent Brendan Wood International’s subjective judgment and opinions, based on our years of experience and on information obtained by us in the course of our research. Much of the factual information contained in the reports has been obtained by us from third parties on whose responses we have relied in good faith, independent verification by Brendan Wood International being, under the circumstances, impossible. While we believe that you will find our reports to be an invaluable tool in formulating your own strategies and judgments, the foregoing should be borne in mind. This report is not meant as investment advice and should not be interpreted as advising on the value of a company’s securities, the advisability of investing in, purchasing or selling any company’s securities or any other conclusion relating to investment/divestiture of a company’s securities. Finally, this report is not intended as an offer or solicitation for the purchase or sale of any company’s securities.
Contacts:
Jordan Novak
Managing Partner
Brendan Wood International
+1 416 924 8110
jnovak@brendanwood.com
Matthew Lapointe
Field Director
Brendan Wood International
+1 416 924 8110
mlapointe@brendanwood.com
Gordon Peck
Managing Director
Brendan Wood International
+1 416 924 8110
gpeck@brendanwood.com
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