In a report released today, Scott Russell from UBS maintained a Hold rating on Challenger Limited (CFIGF – Research Report), with a price target of A$7.30. The company’s shares closed last Wednesday at $4.91.
According to TipRanks, Russell is a 2-star analyst with an average return of 0.7% and a 47.50% success rate. Russell covers the Financial sector, focusing on stocks such as AMP Limited, Insignia Financial Ltd, and QBE Insurance Group Limited.
Currently, the analyst consensus on Challenger Limited is a Moderate Sell with an average price target of $4.98.
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Based on Challenger Limited’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $0. In comparison, last year the company had a net profit of $0
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Challenger’s core business is selling annuity products in the Australian retirement market and, since November 2016, selling Australian-dollar-denominated annuities into Japan’s large retirement market. The firm’s annuity products provide investors guaranteed regular payments over an agreed term for an up-front lump sum investment and is designed primarily to protect investors from the longevity risk of outliving their savings. Challenger also operates a funds management business consisting of Fidante Partners, which has minority stakes in several boutique global investment managers, and Challenger Investment Partners, which primarily manages investments supporting its annuities business.
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