Insurance broking operator AUB Group (AUB) embraced its result last month which showed a 44% lift in profit sending the stock to fresh all-time highs. However after a stellar run the stock feels about right ~$18 although the 3% fully franked yield is not to be sniffed at, we can see some switching from this sector outperformer to the likes of QBE & IAG although any retracement back towards $16 MM feels would represent excellent value i.e. near the lows of 2021.
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Performance update for March, stocks that drove returns & our current positioning
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Wednesday 24th April – ASX200 +17pts, Silver Lake (SLR), Kogan (KGN) & CPI
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Market Matters Research Lead Shawn Hickman with David Koch
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Wednesday 24th April – DOW +263pts, SPI +27pts
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MM is neutral AUB.
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