Buy Signal on Coface (COFA-FR)
Coface is a €1.3 Bn market cap and one of the world's leaders in credit insurance. The group provides solutions to companies designed to protect them against the risk of financial default by their debtors, as part of the management of their accounts receivable, on both their domestic and export markets. Net sales break down includes credit insurance and related services (90%), surety insurance (4%), factoring services (3%); credit management services (2%). Revenue is achieved in Western Europe (20%), the Mediterranean and Africa (27%), Northern Europe (21%), Central Europe (10%), North America (9%), Asia/Pacific (8%), and Latin America (6%).
Natixis was the reference shareholder with 42% of the shares, but has just sold 29.5% of the capital to Arch Capital Group
Short term catalyst : Evolution of capital. Strong balance sheet and dividend
This signal looks consistent with the European Insurance sector, currently in Major Bullish Trend.