QBE Insurance Price Target Raised 2.6% to A$19.50/Share by UBS01/11/2023 9:14AM No story, headline only
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QBE is the most interest rate sensitive stock on the ASX, IMHO.
While we all hang on the next interest rate setting, QBE capitalises it. Two decade + of falling then near zero interest rates meant it was always on the wrong side of the game - despite being a quality operation with full knowledge and every tool to protect itself.
This insurer doesn't need further I rises to make good money - it just needs the wriggle room of positive rates to trade within.
30 June, it said the passing yield on its bond ladder was 4.5%. Realised yields six months later would be better.
M&A awaits opportunity, currently absent.
Ash
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Open | High | Low | Value | Volume |
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1 | 2113 | 16.760 |
4 | 12644 | 16.730 |
1 | 8139 | 16.710 |
4 | 14809 | 16.700 |
Price($) | Vol. | No. |
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16.820 | 1335 | 2 |
16.840 | 8139 | 1 |
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