Lancashire Holdings Share Price (LRE)

Below 600 again, ready for the 10% wash cycle.

As always, a sound investment but the moves need played.

Dividend picked up and out having been long since mid £5. Reentered to rebuild position on Fri, tranche 1 and happy to see it drop again if necessary.

Will hit £7 again at some point, higher.

Merry Christmas.

And there we are, over 700p net to anyone holding from before the xd a week or so ago. Nice ongoing rise, broker ratings for high 700s rather than 600s may be helping.

Including the special dividend this is not far off back to the recent highs. I wonder if it will go on to test 700 given the positive coverage and dividend forecasts? Pre covid since it broke that figure.

While we are talking recommendation he dividend expections for next year were interesting.

RBC, which reiterated its 'outperform' rating on the stock, said Lancashire's valuation "remains cheap" in its view at 1.3x book against an average 2023-25 return on equity of 22% with double-digit yields.

"We make no changes to our net income forecasts while our EPS increases by 2% reflecting the announced $50.0m buyback. For 2023e, we continue to forecast a final dividend per share of $0.15 to be announced giving a full-year total DPS of $0.70. For 2024e and 2025e, we forecast total DPS of $0.90 (up from $0.75) and $1.20 (unchanged), respectively, or a yield of 10.5% and 13.9% in each year. We assume no further buybacks," concluded the analysts.