AUB Group is the largest equity-based risk management, advice and solutions provider in Australasia.
“The Company operates an ‘owner-driver’ partner model (i.e. where it holds equity stakes in partner businesses) and has approximately 11% share of the intermediated general insurance market; and approximately 22% share of the general insurance small to medium business segment in Australia,” Michael said.
“We see potential for upside in the share price due to ongoing EPS-accretive acquisition opportunities within and outside its network.
“In terms of the chart (below), it also appears as though there will be upside from here.
“In mid-August. AUB broke the downtrend and rallied to over $22.
“After that, it eased back to retest the downtrend line before bouncing up off it solidly in early October.
“The last couple of weeks has seen the range tighten up here before breaking out again for another move.
“We therefore expect the shares to continue higher from here,” Michael said.
AUB Group (AUB)
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