MED IM

Mediolanum S.p.A.

Finance/Real Estate


Presented:02/12/2015
Price:€6.53
Cap:$5.48B
Current Price:€7.54
Cap:$6.24B

Presented

Date02/12/2015
Price€6.53
Market Cap$5.48B
Ent Value$16.64B
P/E Ratio17.47x
Book Value€2.63
Div YieldN/A
Shares O/S737.05M
Ave Daily Vol2,750,000
Short IntN/A

Current

Price€7.54
Market Cap$6.24B
Mediolanum S.p.A., together with its subsidiaries, provides a range of financial services in Italy and internationally. The company operates through Italy – Insurance, Italy – Banking, Italy – Asset Management, Spain, and Germany segments. It offers personalized current accounts that are interest-bearing, and include cheques, ATM cards, and credit cards. The company also provides a range of payment cards consisting of credit cards, debit cards, and rechargeable cards; mortgages and loans; pension schemes; managed savings, including mutual funds and managed accounts, and unit linked products; and general insurance products that include life insurance products. In addition, it offers asset management and consulting services; custodian, administration, and brokerage services contracts; damages insurance; and real estate brokerage services, as well as is engaged in audio/film/TV production activities. The company was founded in 1982 and is headquartered in Basiglio, Italy.

Publicly traded companies mentioned herein: Mediolanum SpA (MED IM)

Highlights

The macroeconomic backdrop in Europe appears to finally be supportive enough for the presenter to “fish for longs.” With an asset reflation story underway driven by the zero (or, near-zero) interest rate environment/ quantitative easing (QE), high quality dividend yielding stocks could have a substantial tailwind. The region’s relative underperformance may be about to end and Italian asset manager Mediolanum SpA (MED) stands out. He is long the stock and thinks shares are cheap at current levels (~€6.50). If dividend yielding stocks do attract funds, shareholders are looking at 30%+ upside.

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Idea Discussion

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