Q: Peter; Could you update your thoughts on DFY after their blowout quarter- do those earnings make it an even more appealing takeover candidate ? Thanks.
Rod
Rod
5i Research Answer:
EPS of 56c beat estimates of 42c. Gross premiums written rose 9%; Combined ratio was 95.3%; ROE was 9.8%. Book value rose 12.7%. The results are impressive considering many storms and wildfires in the period in its customer areas. Several brokers raised their targets. Certainly the results are good, and it might be a target, though its valuation is now higher than many in the sector.