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I would imagine it's the result of dividend repayments purchasing shares. It should go back into the 250's in the coming months assuming normal markets. It's a well run company and pays a decent dividend.
The large gains in the insurance sector today? Any ideas?
Esure Group PLC (LON:ESUR) has been given an average recommendation of “Buy” by the eleven brokerages that are presently covering the company, American Banking News reports. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is GBX 414.50 ($6.67). Esure Group PLC (LON:ESUR) traded down 1.60% on Thursday, hitting GBX 221.00. The stock had a trading volume of 131,820 shares. Esure Group PLC has a 1-year low of GBX 212.30 and a 1-year high of GBX 292.50. The stock’s 50-day moving average is GBX 238.1 and its 200-day moving average is GBX 254.7. The company’s market cap is £917.8 million. Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Esure Group PLC in a research note on Wednesday, October 1st. Separately, analysts at Oriel Securities Ltd reiterated an “add” rating on shares of Esure Group PLC in a research note on Thursday, September 25th. They now have a GBX 290 ($4.67) price target on the stock. Finally, analysts at Killik reiterated a “buy” rating on shares of Esure Group PLC in a research note on Wednesday, September 24th.
have gone above 8% and then 9% in the last two days. held up well today.
Agreed. Dividend should be well covered given the strength of the reserves. At these prices, I'd be buying!
This share seems in a relentless downtrend at present , even allowing for low volume and market unease .... Going off last year's figures the dividend payouts were 15.8p (actual payout 13.3p , as it did not cover the full year) and 5.1p. So, if it is maintained this year we're looking at a yield of 9.5%. Am assuming that this payout is safe for 2015? Any other views ?
2.30
Closed just 1p up
Agreed. The next year or 18 months will be the low point. However, motor rates are moving up, so this is a good time to get in IMHO. Once esure and the other big players declare the price war is over their prices will start to move. GLA.
this has fallen almost vertically from just under 270 to 228 in just over 2 weeks....I'd suggest it's overdone. I know the insurance industry is not flavour of the month currently, but I have taken a small position around 235.
FLASH: Numis reiterates add on esure Group, target cut from 320p to 285p
i expected a drop when they went ex dividend and also very small after ther announced times are tough for insurers ,, seems to be pretty repetitive that.... but price now think is very good time to top up as cant see them going down below 220 but can see them back 265 good return possibly
Been tracking this from day one. Not sure why the big drop now? Has to be a buying opportunity I think.
What can i say !! ---three day close above 265 p then just didn't quite make that important 270 p level --- stop losses were in , hopefully everyone @ that 258/260 p level ( or short orders ) ---- dropped thru' all good support levels now but has a history of sudden drops of about 30-40 p , so nothing different there at the moment !! --no real support now until 230 p and 12 month low is around 212 p ish ----- looking for 240 /245p ish again now to hold intraday before going long again ( or more sudden drops tomorrow ) --technically very oversold now ---JMVHO everyone ---- Please DYOR ---GLA.
Damn good support now @ 258/260 p ------tiny hurdle with this 265 p level , then up to 270 p ----attacking the years highs after that ----- looking sound at the mo. --------- JMVH quick op. -----GLA.
5-Aug-14 JP Morgan Cazenove Overweight 300.00 300.00 Reiteration 05-Aug-14 Citigroup Buy 1,290.00 1,290.00 Reiteration 05-Aug-14 Canaccord Genuity Buy 295.00 280.00 Reiteration 04-Aug-14 Numis Securities Add 320.00 320.00 Reiteration 01-Aug-14 Deutsche Buy 303.00 303.00 Reiteration
I suspect they mean 290?!
05-Aug-14 Citigroup Buy 1,290.00 1,290.00 Reiteration
Dividend hiked to 5.1p from 2.5p - Profits steady in first half - EPS rises 4% Esure, which provides home, travel, pet and car insurance, said profits held steady in the first half, reflecting a "disciplined underwriting performance in difficult market conditions". The company said that the continuing competitive environment in both the UK motor and home markets is expected to continue over the rest of 2014 and that gross written premiums will fall in the second half. Nevertheless, the firm hiked its interim dividend to 5.1p, from 2.5p the year before, comprising a 3.6p base payout and a further special dividend of 1.5p. The Surrey-based firm, which owns the Sheilas' Wheels brand, reported a pre-tax profit of £57.1m for the six months to 30 June, up just 0.4% on the year before. Earnings per share improved by 2.7% to 10.9p. "The first half of 2014 has seen no let up in the competitive rating environment in both the motor and home markets," said chief executive Stuart Vann. "The group remained disciplined in its approach to rating and volume which has contributed towards our solid performance," he said. In-force policies totalled 1.974m by mid-way point of the year, up 2.1% on the end of 2013. This helped to mitigate the impact on the bottom line from a 1.9% year-on-year fall in gross written premiums to £260.4m. Meanwhile, the combined operating ratio worsened by 1.3 percentage points to 90.9% but was in line with guidance due to "severe weather events" in the first quarter. Looking ahead, Esure said it will "continue to focus on profit rather than volume" given the anticipated fall in gross written premiums this year, and that the full-year combined operating ratio would be "broadly similar" to the first half. "There has been no change to the group's view that the UK motor market will not turn until [the first quarter of] 2015 at the earliest." BC
look like a decent point to re-enter (255ish)....just lacking the free cash at present!
esure floated at £2.90p and Debt free... esure’s policy count advanced nearly 10% last year and the company pays a decent dividend should be Progressive onwards. Esure is both debt free and cash generative and it is easy to see why the share price has now bottomed out.” Insurance market is on a upwards trend soon ..
Esure Group PLC (LON:ESUR) has earned a consensus rating of “Buy” from the ten analysts that are currently covering the stock, Stock Ratings Network reports. Five analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is GBX 297.63 ($5.05).
The only insurance company I'm looking at is brit plc http://www.digitallook.com/companyresearch/27969156/Brit/company_research.html?username=,%20pwright&ac=,%20208678 If esure goes to low 250s at any point I would look to buy back again. I'm always on Golden ocean board if you want to contact me.
http://www.telegraph.co.uk/finance/personalfinance/investing/shares-and-stock-tips/10897264/Why-now-is-the-time-to-buy-Esure-shares.html esure, according to the Telegraph, which makes this its mid-cap share tip of the week. Some of the things you say are correct, but following the LASPO changes, PI claims have fallen. Rates, I believe are on the up. I speak as someone who has spent 37 years in the car insurance industry!