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The financial services industry, despite being dominated by bank sector, benefits a great deal from the non-banking service providers. These players range from insurance to asset and equity portfolio management sectors. Some of these are among the most active stocks, churning out high returns consistently.
Here are three mid-cap financial stocks that have fetched high returns for their investors, and are currently trading at a discount as compared to their intrinsic value: Senvest Capital Inc (TSX:SEC), E-L Financial Corporation Ltd (TSX:ELF) and Equitable Group Inc (TSX:EQB).
Senvest Capital Inc. (TSX:SEC)
Asset Management company Senvest Capital is currently one of the top financial services firm in Canadian equity space. The stock has fetched about 28.7 per cent returns in the last 30 days.
The scrip, which closed at C$ 340.5 on Wednesday, May 26, rose 187 per cent in the last one year.
The financial services stock has a market capitalization of C$ 864 million, with a price-to-earnings ratio of 0.80.
The company largely manages real estate and equities asset portfolio for its customers, which are predominantly based in the US. It reported a net income of C$ 574.5 million for the quarter ended March 2021 as against a net loss in the same quarter a year-ago.
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E-L Financial Corporation Limited (TSX:ELF)
Insurance services provider E-L Financial is a value stock that has returned about 16.5 per cent gains and is among the top trending stock on TMX’s financial services stocklist in the last 30 days.
The mid-cap value stock, as per TSX data, is currently trading at a discount with its price-to-earnings ratio (P/E) at 2.20. The market capitalization is hovering above C$ 3.5 billion.
It provides service for insurance underwriting and global equity assets, with the former funding most of its revenues through premiums.
The company announces quarterly dividend C$ 2.50 is payable on June 29, 2021. The dividend yield stands at 1.053 per cent.
E-L Financial reported a net income of C$ 466 million for the quarter ending March 31, 2021, as against a net loss of C$663 million in the year-ago period.
Equitable Group Inc. (TSX:EQB)
Equitable Group is a financial services company that earns most of its revenues through its subsidiary Equitable Bank, which offers lending services.
The stock grew by 9.6 per cent in the last 30 days.
The bank’s parent group has a market capitalization of C$ 2.4 billion, with a price-to-earnings ratio of 9.10.
It currently offers a quarterly dividend of C$ 0.37 cents, with a yield of 1.046 per cent. The dividend is payable on June 14, 2021.
The lender’s parent company reported a net income of C$ 69.2 million in the quarter ended March 2021, as against C$ 25.9 million in the first quarter of 2020.
