- ASX 200 has been on the move since June on the back of volatile US markets and concerns over early economic recovery .
- Few stocks have still outperformed and reached new price peaks.
- Prices of stocks like Argo Investments (ASX:ARG), Medibank (ASX:MPL) have been moving up besides providing good returns to holders.
ASX has been on the move since June 2021 over factors like surging COVID-19 cases, new restrictions and lockdowns. It did not start the new fiscal year on a good note. Still, a few stocks outperformed the general sentiment and were market movers reaching new price peaks. Few stocks that are trending on ASX while reaching new price crests are
Prices in AU$, Source: ASX, 15 July 2021
Argo Investments Limited (ASX:ARG)
ARG shares have hit their all-time high price of AU$9.28 during intraday trading on 15 July. It is Australia’s oldest and largest listed investment company. On 13 July 2021, it shared an investment update where its NTA (Net Tangible Assets) were reported as AU$9.01 per share. It was a 2% month-on-month increase.
Its portfolio consists of great performers like Macquarie group (ASX:MQG), BHP Group (ASX:BHP), CSL, Wesfarmers and Rio Tinto. ARG shares have till June given a 10% YTD return to its holders. It also has been relatively consistent in paying dividends with a 5-year dividend yield of 5.6% as on 12 July 2021. Its current annual dividend yield at its 15 July 2021 closing price of AU$9.25 is 3.04%.
Medibank Private Limited (ASX:MPL)
MPL is an AU$8.92-billion-dollar market cap private health insurance company, serving 3.7 million Australians. MPL shares have given its holders a 52-week return of 9.7% per cent, and last month the return was 5.8 per cent. MPL has a current annual dividend yield of 3.73% and has been paying regular half-yearly dividends. On 29 June 2021, MPL had announced that it would return around AU$105 million of savings to its customers; since then, prices have only moved up.
The share price of MPL hit a 52-week high of AU$3.390 on 15 July during the intraday trading and closed at AU$3.270.
Suncorp Group Ltd (ASX: SUN)
The banking insurance and other financial solutions company’s share price crossed its 1-year record during intraday trading on 13 July to reach AU$11.530. On 15 July 2021, the shares closed at AU$11.39. The stock has a current annual dividend yield of 3.16% and a free cash-flow yield of 7.06%.
On 1 July 2021, it announced a stake sale from its Tasmanian Insurance business. The price has moved up 33 cents since then. Though its profits were affected by COVID-19, it has seen some recovery by simplifying its business portfolio. In April 2021, it even declared an interim dividend of 26 cents per share which is approx. 1.6 times its previous dividend of 10 cents per share paid in October 2020.
Myer Holdings Limited (ASX:MYR)
This department store chain operator reached its 1- year high price of AU$0.505 on 15 July 2021. Prices have moved up 60% since the beginning of 2021. Since the beginning of July, the share has been on a bullish track. This is a result of increased shareholding by premier Investments. It increased its stake to 15% in lieu of increased voting power. MYR was also considering a board representation by Premier Investments.
MYR also reported a significant growth in its online business while tightening inventory and cash management. It seems to be another reason why shares are surging despite newer lockdown implementations. MYR shares closed on ASX at AU$0.48 on 15 July 2021.