- Personal Group Holdings
- 23 July 2025 14:35:14
Source: Sharecast
Canaccord Genuity noyed that Personal Group was "confident" in continuing progress in H2, with trading remaining in line with FY25 market expectations thus far.
The Canadian bank highlighted that Personal's affordable insurance offering had delivered "a particularly strong" six months, giving it confidence in its forecasts.
Canaccord Genuity also noted that Personal Group's balance sheet "remains very strong" and said it estimates roughly £17.0m available surplus cash, which could support strategic earnings-enhancing bolt-on acquisitions to provide additional products or expertise.
"We now value PGH at 18.7x CY25E P/E (previous: 16x), reflecting a re-rating of the relevant UK insurance peer group. We continue to note the CY24-26E EPS CAGR for PGH at 22.5% remains far superior to the peer group, which has an average forecast c.7% EPS CAGR over the same period," said Canaccord.
"The very strong earnings growth outlook, in addition to the B/S strength continues to justify a 50% P/E premium to the peer group for PGH in our view.""
Reporting by Iain Gilbert at Sharecast.com