9 Nov 2016 08:11
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Esure Group Share News (ESUR)
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Don't have an account? Click here to register.UBS upgrades Esure to 'neutral' after Bain deal
Thu, 16th Aug 2018 12:28
(Sharecast News) - UBS upgraded Esure to 'neutral' from 'sell' and hiked the price target to 280p after the insurer agreed to be bought by private equity firm Bain Capital for 280p a share, as it said there is a high probability of deal success.The bank pointed to the fact that the deal has support from key shareholders controlling nearly 48% of the shares and said there is limited scope for a counter-bid, give an implied 14x 2019E earnings per share valuation, which is at the upper end of the peer group. In addition, it noted limited anti-trust concerns as this appears to be Bain's first investment in the UK insurance market.Should 75% of shareholders be supportive, UBS estimated that the deal could be finalised by early December 2018. If the transaction receives 50-75% support, which it views as unlikely given the support of key shareholders, it would expect completion early January.UBS said Esure's first-half results, which were announced alongside the Bain deal, were weaker than expected, with pre-tax profit 8% below consensus, mostly due to weather losses. However, it said the positive for the market was that as prices slowed, Esure slowed growth somewhat, maintaining a relatively stable gross motor premium year-on-year despite claims deflation."Esure, like peers, has flagged that the market has maintained its discipline. This, along with an expected return to more "normal" claims inflation (3- 5%) towards the end of this year (as reported by Hastings and Direct Line), combined with delays to whiplash reform, should lead to a more stable pricing backdrop."
More News
3 Nov 2016 12:35
RBC Capital downgrades Esure after GoCompare demerger
(ShareCast News) - Esure shares tumbled on Thursday following the completion of the demerger of price comparison website GoCompare.com. RBC Capital Markets downgraded its stance on the stock to 'underperform' from 'outperform' and slashed the price target to 180p from 305p as it removed GoCompare ea
Read more3 Nov 2016 08:13
Esure and Gocompare go their separate ways
(ShareCast News) - Esure Group confirmed on Thursday that it completed the demerger of Gocompare.com Group from the group. Shares in Gocompare.com were admitted during the morning to the premium segment of the Official List, and to trading on the main market of the London Stock Exchange. "The proce
Read more30 Oct 2016 14:52
Sunday newspaper round-up: More 'Nissan' deals, Carney, RBS, HSBC, Capita
(ShareCast News) - Pharmaceuticals giants want the government to plug a £1bn-a-year funding gap that will be created when Britain leaves the EU, as part of a list of demands being drawn up by big business after last week's deal with Nissan. After the Japanese car maker said it would make two new mod
Read more26 Oct 2016 17:40
Wednesday broker round-up
(ShareCast News) - FirstGroup: Goldman Sachs keeps at buy with a target price of 168p. Esure: Berenberg stays at sell, 238p target. Anglo American: Deutsche Bank reiterates hold with a 965p target. Intertek: UBS reiterates buy with a 4100p target. Sainsbury: Goldman Sachs reiterates sell with a 1
Read more11 Oct 2016 13:05
Esure shareholders to vote on Gocompare demerger on 1 Nov
(ShareCast News) - Esure updated the market on its proposed demerger of Gocompare.com on Tuesday, saying shareholders get to vote on it at a general meeting on 1 November. The group had announced plans in September to spin off its financial services comparison website via a flotation on the London S
Read more14 Sep 2016 14:48
Wednesday newspaper share tips: Esure, IAG
(ShareCast News) - Esure's plans to de-merge Gocompare, its price comparison website, makes sense, the Financial Times's Lex column said. "There is trapped value there," Lex added. Insurance companies are all about managing risk and are sustained on capital, whereas the website is a wholly diffe
Read more13 Sep 2016 07:03
Esure plans to float GoCompare.com for potential £650m
(ShareCast News) - Insurer Esure has begun working on plans to spin off its financial services comparison website GoCompare.com via a flotation on the London main market. The FTSE 250 company said the spin-out had the potential to enhance business growth, performance and shareholder value, after a s
Read more12 Sep 2016 10:37
Esure said to unveil GoCompare demerger this week
(ShareCast News) - Motor insurance group Esure is reportedly set to unveil plans this week for the demerger of its price comparison business, GoCompare. According to Sky News, Esure's board is expected to sign off on the £500m demerger in the next few days. It was understood that under the demerger
Read more8 Sep 2016 09:57
HSBC upgrades RSA, downgrades Hastings
(ShareCast News) - HSBC upgraded RSA Insurance to 'buy' from 'hold' and raised the price target to 595p from 520p despite the strong share price performance. The bank noted RSA shares are up 19% year-to-date, outperforming the FTSE 100 index and the DJ Stoxx Insurance index by 9% and 36%, respective
Read more