U.S. Diversified Financials Potentially Undervalued Companies

PayPal Holdings

Market Cap: US$66.9b

Operates a technology platform that enables digital payments for merchants and consumers worldwide.

Marex Group

Market Cap: US$2.6b

A financial services platform provider company, provides liquidity, market access, and infrastructure services to clients in the energy, commodities, and financial markets in the United Kingdom, the United States, and internationally.

Lazard

Market Cap: US$5.4b

Operates as a financial advisory and asset management firm in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

LexinFintech Holdings

Market Cap: US$1.1b

Offers online direct sales and online consumer finance services in the People’s Republic of China.

Synchrony Financial

Market Cap: US$28.5b

Operates as a consumer financial services company in the United States.

Medallion Financial

Market Cap: US$238.0m

Operates as a specialty finance company in the United States.

Arbor Realty Trust

Market Cap: US$2.5b

Invests in a diversified portfolio of structured finance assets in the multifamily, single-family rental, and commercial real estate markets in the United States.

NMI Holdings

Market Cap: US$3.1b

Provides private mortgage guaranty insurance services in the United States.

Radian Group

Market Cap: US$4.7b

Engages in the mortgage and real estate services business in the United States.

Consumer Portfolio Services

Market Cap: US$179.1m

Operates as a specialty finance company in the United States.

AGF Management

Market Cap: US$815.8m

AGF Management Limited is one of Canada’s premier investment management companies with offices across Canada and subsidiaries around the world.

MGIC Investment

Market Cap: US$6.4b

Through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services in the United States, the District of Columbia, Puerto Rico, and Guam.

Global Payments

Market Cap: US$21.4b

Provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific.

Virtu Financial

Market Cap: US$6.5b

Operates as a financial services company in the United States, Ireland, and internationally.

Western Union

Market Cap: US$2.7b

Provides money movement and payment services worldwide.

International Money Express

Market Cap: US$430.4m

Operates as an omnichannel money remittance services company in the United States, Latin America, Mexico, Central and South America, the Caribbean, Africa, and Asia.

Essent Group

Market Cap: US$6.2b

Through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States.

HMC Capital

Market Cap: US$1.5b

Owns and manages real estate focused funds in Australia.

Platinum Investment Management

Market Cap: US$316.7m

A publicly owned hedge fund sponsor.

NewtekOne

Market Cap: US$314.4m

Operates as the bank holding company for Newtek Bank, National Association that provides various business and financial solutions under the Newtek and NewtekOne brands to the small- and medium-sized business market.

Global Brokerage

Market Cap: US$1.0k

Global Brokerage, Inc., through its subsidiaries, provides online foreign exchange (FX) trading, contracts for difference trading, spread betting, and related services to retail and institutional customers worldwide.

MLP

Market Cap: US$546.4m

Provides financial services to private, corporate, and institutional clients in Germany.

Olympia Financial Group

Market Cap: US$299.6m

Through its subsidiary, Olympia Trust Company, operates as a non-deposit taking trust company in Canada.

Navigator Global Investments

Market Cap: US$896.8m

HFA Holdings Limited operates as a fund management company in Australia.

Edenred

Market Cap: US$6.3b

Provides digital platform for services and payments for companies, employees, and merchants worldwide.

Elron Ventures

Market Cap: US$112.3m

A venture capital firm specializing in early stage and seed investment.

Credit Saison

Market Cap: US$556.8b

Provides leasing, finance, real estate, entertainment, global, and payment services in Japan and internationally.

OFX Group

Market Cap: US$193.5m

Provides international payments and foreign exchange services in the Asia Pacific, North America, Europe, the Middle East, and Africa.

St. James's Place

Market Cap: US$6.8b

A publicly owned investment manager.

Remitly Global

Market Cap: US$3.8b

Engages in the provision of digital financial services in the United States, Canada, and internationally.

Julius Bär Gruppe

Market Cap: US$11.8b

Provides wealth management solutions in Switzerland, Europe, the Americas, Asia, and internationally.

FRMO

Market Cap: US$391.8m

Through Horizon Kinetics, LLC, operates as an investment advisory and independent research company in the United States.

Regional Management

Market Cap: US$424.0m

A diversified consumer finance company, provides various installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders in the United States.

B. Riley Financial

Market Cap: US$174.4m

Through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America, Australia, the Asia Pacific, and Europe.

Encore Capital Group

Market Cap: US$953.1m

A specialty finance company, provides debt recovery solutions and other related services for consumers across financial assets worldwide.

Capital Southwest

Market Cap: US$728.2m

A business development company specializing in credit and private equity and venture capital investments in middle market companies, mezzanine, later stage, mature, late venture, emerging growth, buyouts, industry consolidation, recapitalizations and growth capital investments.