Member Info for hitman1a

Deutsche Bank has revised its rating for Legal & General (LGGNY, Financial), shifting it from a 'Buy' to a 'Hold'. Additionally, the bank adjusted the company's price target to 270 GBp, a slight decrease from the previous 275 GBp. This update reflects a reassessment of Legal & General's market position and growth prospects.

Any predictions on what's next.. I personally think this is high.. but the progressive dividend policy seems very supportive.

I hope I don't lose anything once Direct Line comes in. ( in terms of overall portfolio valuation)

Mine has arrived with HL.

With HL you have too manually transfer it. Click on Cash, then Income and Loyalty Bonus.. and then on the right hand side of screen, press "Transfer your income balance to your capital account now" . it then gets to the point at which you select your dividend and transfer it across to make it "available"

Yep , I agree market sentiment is the main driver. Aviva yield is now less than 6%.. MNG at 8.3%, Google says LGen is now at 8.28%

8.3% seems to generous now , so think yield will tighten to 8% and get us to £3.00 sooner than we think.. so before the next dividend and also before the buy back finishes.

Given the strength, i've changed my mind and decided to plough more into this today.. as the share buy back scheme still has a long way to run and will finish no later than the 12 Sep 2025. The buy back program should run this higher over summer..

The share goes ex-dividend on 21 August.. perhaps this can move up 20p from 257p today

Nothing from Barclays or HL yet. I believe the current buy back is strongly supporting the SP at the moment..

Guess it will drop once complete. If the market has a temp dip for some reason , then I'll plough it in.

Aiming for £3 really by end of year. Perhaps when it goes ex div again is a safe option and I can earn interest while I wait.

My take from the AGM was that Oilers in the North Sea have said they will be out by 2030 if they Government doesn't change it's stance on EPL. Given they said it would take 10 years to use all our credits and losses.. then perhaps half of this benefit has no value. Whatever deal Enquest does has to be large enough to use our credits and losses over a short time frame , ie by 2030. Perhaps the Government will make a change later on in the year, and that's when I see the SP improving.. first by a slight change in EPL (higher Brent price threshold and not tied to gas price) and then a deal. It could come good later on in the year..

In the meantime , Enquest have implemented Plan B and will continue to invest overseas over the next few years, so it has say 30k plus of foreign production by 2030. Enquest Producer is in warm stack, but only has $20m scrap value, other projects like Bressay and Bentley have no value at the moment imv, given current Brent prices.. but looking forward to my first dividend.

Anyone going ?

I spoke to my local conservative MP last week at a coffee morning..

I expressed my concern at the number of job losses in the North Sea, He replied he would get rid of EPL tomorrow, but the main obstacle was Miliband.

I doubt much more can be done now until people in Scotland kick up more of a stink and or vote Labour out.

Reform are now very popular and have obtained many Conservative voters. Does anyone know what Reforms policy is on the EPL?

Agreed , HL holding showing as ex div today

CNBC showed a clip this morning : AB was on a panel talking about how the Global North will subsidize the South ?

Didn't look like he had a reverse takeover on this mind.. Not sure how recent the clip was, but I'll grant the first extension timeline to allow for slow lawyers.. but at the moment the current SP doesn't look like a deal is happening. If it does, then I'm locked and loaded.

Just a guess. I quite like Thursdays.

Also the Serica AGM is at Ashurst Solicitors.. ( note it's the same place as Enquest hold theirs)

Could be the day of the deal with Serica

Plus 8% tomorrow with rest of market takes us to 5.40, less dividend , so settles to 5.16 eod ex div

Glad I averaged down lately. With the maiden dividend and potential deal with SQZ to utilize our losses, I look forward to the share rising slightly more in Q2 2025.. A £300m market cap seems fairer.

The dividend perhaps should have been slightly higher at 1p/share

I can see a few Insurers doing well now. The other day on Bloomberg or CNBC they highlighted Berkshire H was buying Japanese stocks.. building up their holdings to 10% per company.. I almost feel a similar thing is happening to UK insurers, a whole wall of money is flowing into this sector.. The yields are still generous.. Even when it goes ex-div, it should recover quite quickly. I can see Zurich has say 4.6% dividend yield but is a much larger company.. but even so , Aviva still looks good value at £5.65

Can't believe the market cap is higher than Tullow.

Would not have thought that would ever happen.

Wonder how much Enquest are paying GS and BofA for looking at putting this deal together?

Fresh money in at 12.5p and out at 15p will be fine for most.. See what price gets offered in the morning.

If the £1b combined market cap is correct.. then the increase from £231m (Enq) and £515m(Sqz) : £746M, is £254m,

Approximately 34% improvement , then Enq moves with man maths from 12.5p to 16.75p . Anything that improves the share price is good with me..

Think reality has sunk in and this is close to the best deal AB might get, so we should go for it . Getting value out of the losses is the only way forward given EPL theft. Look forward to say 20% improvement in portfolio valuation from today in Newco shares if completion takes place.