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LordAdam, thanks for you opinion. But with the amount of claims Unknown They would need to be cautious so IMHO shareholders might want to factor this in to their expectations. Anyway, we only have to wait a few days to find out.
Think about it for a short while ... this is an insurance company ... if they couldn't do anything for fear of full extent of claims they wouldn't be able to do anything -- including trading etc. So that's not how it works. Surviving these claims is built in ... with a surplus ... the CEO has reiterated that nothing is out of place on this one ... ergo there is a surplus. The question is, how much and how large a special will they declare? Mike
I have concerns about this. How can they pay a special dividend, when they don't know the full extent of the claims from the recent disasters! It also appears to me that the statement made by the CEO "the estimate falls within the company's modelled loss ranges for these types of catastrophe events" is not relating to special dividend, but a reassurance to their ability to survive such an occurance.
Many thanks both for replies. Fingers crossed then! :)
The next announcement is due 2nd November. The Co. has already said the recent hurricanes have been within acceptable parameters, so I am hoping for a good special divi. That should increase the SP. GL.
No announcement as yet ... in previous years it has been about 3 Nov. I think it coincided with a trading update? Mike
Does anyone know if there has been any announcement of a Special Dividend? Or the date they usually announce it ?
I don't think you're wrong either ... whilst it's always possible for any insurance based company to be wiped out by some combination of claims it is the business of the management to make that so far removed from statistical possibility as to be practically impossible. Given the past performance of LRG at the very worst we would be looking at a lean year and in the normal course of things a surplus overall. Whilst it will take a while for the numbers to come in regarding Florida it would seem that the financial losses are not likely to be the armaggeddon that the market gloomily anticipated towards the end of last week. Mike
So just to get this straight ... you are saying that the Texas floods didn't happen, that they are 'fake news', a scam being pulled by a bunch of PR/Spindoctors for some nefarious purpose. And the answer to the question "you want folk to take the rest of what you say seriously?" is no? Mike
Was you theire Mike or is it that your such a knowitall you never needed to be !!We are never meant to agree on anything Mike goodbye and Enjoy.
And now the SP is above 670 again. I understand the company increased its exposure to Hurricanes but - as a shareholder since Jan2015 - I can't see the management being so stupid as to expose the company to a wipe-out. I may be wrong, but I don't think I am.
So Arsenal ... you're saying that the Texas floods didn't happen, that they are 'fake news', a scam being pulled by a bunch of PR/Spindoctors for some nefarious purpose. And you want folk to take the rest of what you say seriously? Mike
in Texas don't look real, after the water recedes their is always lots of mud and slime!, Except not in the pics. I see of Texas,!!?? But now that storm as devastated the Caribbean and also hit south Florida these international insurers and re.insurers are dead meat this year!! For my portfolio anyway GL. Mike
It's difficult to work out from your posting what you mean by "Texas con" ... perhaps you could spell it out a little clearer? Mike
Departed at a very good point in my book Lord Adam are you still sat tight🙈 See what effect the Texas con hits them and if they are in one piece will look to buy. You might say why does he say a con?. All the pictures looked like false news it seems they don't have mud in Texas.?? Very fishy 😲🤑🐡🐠😂
Rather than just read the Mail ... if you had taken the time to check the facts you would have seen that they are 33rd in the list of shorted stocks ... and not in the top ten as you stated. See http://shorttracker.co.uk/company Also if you'd followed what I said in my last post, or again checked the details ... you would have realised that there is only one fund that holds any significant short position in LRE ... so more 'hedge fund' rather than 'Hedgies'. Mike
Equal weight 630 p nearly all the brokers are dropping their target prices Mike,tread carefully old chap otherwise you could be nursing some nasty losses.AFC.GLA
Always bought for the special but I don't think it's guaranteed this annum numbers of late aren't so tasty 😋
Read. A report in the Mail that this is in the top ten of shorted stocks!! Just a hint of bad news on thurs or Friday when they report and the Hedgies will slaughter this stock!,
Read. A report in the Mail that this is in the top ten of shorted stocks!! Just a hint of bad news on thurs or Friday when they report and the Hedgies will slaughter this stock!,
Sorry to see you leave Arsenal ... but each to his own, and you must do what you feel/think is right. I hope you'll stick around for the discussion in future. Personally I'm in for the longer term and am hoping for a special dividend come the autumn. On the subject of shorting/shorter's list I think you've called it wrong though. Odey Asset Management (OAM) do have a 4.5% position but in actual fact they've had a short position since 2013 and historically it's much larger than this having peaked at about 6.5% back in 2015. Effectively OAM trades the short position -- that's what that fund does and at the moment they are actually reducing their position ie they think it's going to go up not down. As we get closer to the autumn the current price doesn't seem too high ... earlier though I did sell out at 734 and bought back in at the 670-75 level. Although I'm confidant of getting the 735 again I'm not so sure that I'd get back in again at a reasonable price for the potential 60p special later in the year. Mike
This stock as more downside risk than upside now !!
Shorters list apparently. Tread carefully chaps
Climbing up above 695 today, the SP appears to be reacting to potential good news to be announced at the AGM tomorrow (Wednesday) and the results of the 1st-quarter.
Currently the SP seems to be bouncing along the 200-day MA (currently at about 655). If it drops below 650, then I will be buying but - with the Quarterly results out in the 1st-week of May and "no news" being good news with insurance - I can't see that happening as so long as premiums are on or about the same level as reported in May16, we should be well on the way to another Special Dividend. Someone is going to takeover this "cash-cow" up one day.