Stocks of the Hour: Computershare, Goodman & Insurance Australia

Company News

by Lauren Evans

Computershare (ASX: CPU) has completed the purchase of Wells Fargo Corporate Trust Services that was announced in March. The stock transfer company raised over $800 million to fund the US$750 million ($1 billion) acquisition. The business will now be known as Computershare Corporate Trust. Shares in Computershare (ASX:CPU) are trading 0.8 per cent higher at $19.26.

Structural changes and increased customer demand has led property giant Goodman Group (ASX:GMG) to up its guidance for the 2022 financial year. Covid-related disruptions are having less impact than expected and operating earnings per share growth is expected to be greater than 15 per cent. Shares in Goodman Group (ASX:GMG) are trading 6.3 per cent higher at $23.64.

Insurance Australia Group (ASX:IAG) has increased its expectation for FY22 net natural perils claim costs, after severe storm and hail activity experienced over October.  As a result, IAG has lowered its FY22 insurance margin guidance range to 10-12 per cent. Shares in Insurance Australia Group (ASX:IAG) are trading 6.6 per cent lower at $4.52.

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