Swiss Life: shares down after in-line results
(CercleFinance.com) - Swiss Life reported strong figures for the 2018 financial year, driven by strong growth in fee income.
However, the company's shares fell 0.4% to 423.3 Swiss francs in morning trading, as the performance was largely in line with estimates.
The Swiss insurer and money manager said that net profit rose by 7% to 1.1 billion Swiss francs in the past year, with fee income up 6% at 1.6 billion Swiss francs.
In particular, good news came from an increase in the group's dividend, which it raised from 13.50 Swiss francs to 16.50 Swiss francs.
Analysts at UBS cited "a solid end to a successful 2015-2018 plan," but do not expect EPS upgrades after the report, saying that the stock is already trading "at highs."
Copyright (c) 2019 CercleFinance.com. All rights reserved.
However, the company's shares fell 0.4% to 423.3 Swiss francs in morning trading, as the performance was largely in line with estimates.
The Swiss insurer and money manager said that net profit rose by 7% to 1.1 billion Swiss francs in the past year, with fee income up 6% at 1.6 billion Swiss francs.
In particular, good news came from an increase in the group's dividend, which it raised from 13.50 Swiss francs to 16.50 Swiss francs.
Analysts at UBS cited "a solid end to a successful 2015-2018 plan," but do not expect EPS upgrades after the report, saying that the stock is already trading "at highs."
Copyright (c) 2019 CercleFinance.com. All rights reserved.