Fairfax Financial Holdings Ltd Shs Subord.Vtg
FFH: XTSE (CAN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 1,797.00 | Fhgt | Gzrfylry |
Fairfax Financial Earnings: Strong Underwriting Margins Partially Offset by Investment Losses
Fairfax Financial reported a solid second quarter with relatively strong underwriting margins. However, this was partially offset by some investment losses. While the second quarter was weaker than the first quarter, Fairfax is having a good year so far, with book value per share up 11% since year-end, adjusted for dividends. We will maintain our CAD 790 fair value estimate for the no-moat company and see the shares as overvalued at the moment.