The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I'm not overfamiliar with the R&Q situation but they are a general insurer aren't they? LGEN exited general insurance about 10 years ago and given the competitiveness and lack of profits in that space in recent years I can't see them being to eager to go back in.
Sounds pretty good to me. Very complimentary business which expands the business in North American. It further strengthens the partnership with Nike and Adidas but increases the profile of the business in the retail model stopping them going direct to market as well.
It's almost like people have different risk tolerances and investment timescales. It's his money, he can invest it entirely how he wants.
EZJ and IAG also down by similar amounts.
Nice rise today on the back of the broker upgrade (Jefferies raises Beazley price target to 975 (915) pence - 'buy').
Sometimes it takes the market a while to figure things out. There are a lot of good opportunities out there at the moment which are attracting attention and money.
But that is the whole premise of investing; you believe that the market has undervalued the share so you have bought it and will (hopefully) sell it for a profit. Patience my friend, people will wake up and share will re-rate if the fundamentals remain the same. BEZ are coining it in at the moment and that won't go unnoticed for long.
Nice bit of movement this morning. Wonder if someone knows something ahead of tomorrow?
Huge buyback today according to the RNS:
"On 28/03/2024, the Company announces the purchase of 5,059,772 Ordinary Shares at a price of 893.62p. The shares purchased will be held in Treasury."
£45m in one day.
Happy Easter girls and boys!!!! :)
The market makes will ensure it falls by the size of the divi on Ex-divi day, so approx 4.5% using the current share price.
After that, it's anyone's guess, but if the buyback continues to hoover up a lot of the shares from any sellers and inflation continues it's downward trajectory then we shouldn't go much lower (barring a pandemic/war/financial crisis etc)
No obvious reason in the public domain. I wonder if they have any exposure to the Baltimore ship that hit the bridge?
Not sure the Competition watchdog would allow that. Aviva and Direct Line (including Churchill) combined would have over 20% of the UK motor insurance market and be bigger than the next 2 biggest added together.
Would love them to change to a quarterly divi to spread the income across the year and avoid the peaks and troughs in the share price.
All time high now hit.
Ex-divi on Thurs will no doubt knock a couple of % off but I still think there is further for this to rise, especially with the buyback ongoing.
Excellent news on the £1bn buyback. At that level, I'm sure it will have a material impact on the share price and the discount to the NAV. Just need to sit and wait.
Superb set of results. I would have liked a slightly higher divi but pleased with the buyback announced.
Dare I say it, this is a real British stock market success story; BEZ is a hugely profitable business, a market leader, a global business and is growing rapidly. What's not to like?