Brendan Wood International Investor Conviction Intel – Financials
Brendan Wood International
A private partnership formed in 1970, the firm founded the exclusive TopGun Club.
Brendan Wood International Investor Conviction Intel – Financials
New York, NY, June 20th, 2023 (TopGun Press)
Below are the most in-demand Financial Stocks based on our daily chats with global investors. Below is the link to the Investor Conviction Intel on American International Group.
American International Group - American International Group has been topical with investors because of the changes they’ve made to their business. Numerous investors have cited the spinoff of the life insurance business as a positive for their story and their business. Their disclosure has seen a boost in confidence from investors for how well they’ve handled this process. However, investors would like some clarity as to the CFO chair at AIG. With Shane Fitzsimons on leave and further turnover in the seat while he’s been out, investors would like some clarity as to who will be the full time CFO going forward. (Click here for the Investor Conviction Intel on American International Group)
Charles Schwab - Schwab has been topical amongst investors in recent months since the regional banking crisis. Some investors have raised concerns regarding their balance sheet management, however others view the fears around their cash sorting and margins as overblown.
Goldman Sachs - Investors remain confident in Goldman Sachs, however the lack of success in their consumer business has been a drag on the story in investors minds. Investor confidence in Goldman Sachs’ capital allocation fell this quarter as a result of how much they have spent on this business.
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TD Bank - TD Bank has continued to be very topical amongst investors in the BWI Panel. After the collapse of the First Horizon deal confidence has noticeably dropped in TD Bank's management. Investors continue to cite TD Bank’s communication as lacking and would like far more information. Investors are also looking to see, from a strategy perspective, what direction TD Bank wants to go now following this major acquisition falling through.
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Zurich Insurance Group - Investor commitment to own Zurich Insurance Group remains strong thus far in 2Q. George Quinn is viewed as a standout amongst the European Insurance CFOs. Investors praise how Zurich Insurance Group has delivered on what they’ve historically said and how they have turned around that business in a significant way. Their reporting and disclosure rank as one of the very top companies in the global insurance space. Zurich Insurance Group has the top Investment Quality Index score of the European Insurers, as rated by investors.
Largest Long Term Growth Score Changes (Quarter over Quarter) (YE1Q2023 vs. YE2Q2023):
Fairfax Financial Holdings = +33%
Charles Schwab Corp = +12%
Prudential PLC = +12%
Arch Capital Group = +11%
Admiral Group plc = +8%
Synovus Financial Corp = -15%
CI Financial Corp = -13%
ECN Capital Corp = -6%?
Swiss Life Holding AG = -5%?
US Bancorp = -5%
Largest CEO Score Changes (Quarter over Quarter) (YE1Q2023 vs. YE2Q2023):
Laurentian Bank of Canada?= +20%
Huntington Bancshares Inc = +10%
Swiss Re Ltd = +8%
Fifth Third Bancorp = +7%
Wells Fargo & Co. = +7%
Zions Bancorporation = -11%
PayPal Holdings Inc = -10%
CI Financial Corp = -7%
ECN Capital Corp = -7%
Trisura Group Ltd = -6%
Sell-Side Analysts Being Paid for Financials Coverage from Global Investors:
US Banks Sell-Side Analysts:
1. Glenn Schorr – Evercore ISI
2. Gerard Cassidy – RBC Capital Markets
3. Ebrahim Poonawala – Bank of America
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US Financial Services Sell-Side Analysts:
1. David Togut – Evercore ISI
2. John Hecht – Jefferies
3. Dan Perlin – RBC Capital Markets
US Financial Technology Sell-Side Analysts:
1. Timothy Chiodo – Bank of America
2. Darrin Peller – Wolfe Research
3. Harshita Rawat – Sanford Bernstein
US Life Insurance Sell-Side Analysts:
1. Tom Gallagher – Evercore ISI
2. Jimmy Bhullar – JP Morgan
3. Erik Bass – Autonomous Research
US P&C Insurance Sell-Side Analysts:
1. Brian Meredith – UBS
2. Elyse Greenspan – Wells Fargo Securities
3. Dowling & Partners Team
European Insurance Sell-Side Analysts:
1. Michael Huttner – Berenberg
2. Andrew Ritchie – Autonomous Research?
3. Hadley Cohen – Deutsche Banks?
Canadian Banks Sell-Side Analysts:
1. Mario Mendonca – TD Securities
2. Darko Mihelic – RBC Capital Markets
3. Sohrab Movahedi – BMO Capital Markets
Canadian Diversified Financials Sell-Side Analysts:
1. Geoff Kwan – RBC Capital Markets
2. Jaeme Gloyn – National Bank Financial
3. Phil Hardie – Scotia Capital
Canadian Insurance Sell-Side Analysts:
1. Mario Mendonca – TD Securities
2. Darko Mihelic – RBC Capital Markets
3. Tom MacKinnon– BMO Capital Markets
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. Brendan Wood International is the exclusive Index Provider to the AXS Brendan Wood TopGun Index ETF (Ticker: TGN)
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.
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Contacts:
Jordan Novak, Partner, Brendan Wood International, 1 416 924 8110, [email protected]
Gordon Peck, Managing Director, Brendan Wood International, 1 416 924 8110, [email protected]