r21442
30 Jul 2015
Re: Found this good report on CSN I've reported this poster. Suggest othersdo the same. Seems to be in eastern time zone posting these links every five mins.
ZEAMI
30 Jul 2015
Re: Found this good report on CSN Do you own the SimplyWallSt WS, or get commission from them ? You are posting links to this website all over the place.
r21442
30 Jul 2015
Re: Found this good report on CSN Sorry but found that an awful 'read' - style over substance.
mcescher
29 Jul 2015
Found this good report on CSN The analyst consensus for CSN is look very bullish over the next few years, what do people think? [link]
pitass
14 Jul 2015
bond yields The investment policy of this company is very conservative,and I think that we are moving into a period of higher bond yields. The result of which sould take this stock over the 400p mark
r21442
09 Jul 2015
tip of week in tomorrow's IC again Bull points•Discount to forecast embedded value•High dividend yield•Strong cash generation•Dutch expansionBear points•New Swedish business constrained•Low bond yields drag on S&P businessClosed-book life assurer Chesnara (CSN) has boosted its growth prospects by expanding into the Netherlands while retaining the features of the business that have made the stock popular with this publication over the years: strong cash generation and healthy dividend payouts. To top it off, the shares currently look good value trading at a discount to embedded value and priced below the historic average forward earnings multiple. The completion in May of the acquisition of the Waard Group, which comprises three Dutch closed-book insurance companies and a servicing company, gives Chesnara a foot in the door of the Netherlands life assurance market. Management believes the opportunities to consolidate and run off closed Dutch life assurance books are similar to the opportunities that Chesnara has a history of so profitably exploiting in the UK. And given that Chesnara's growth in the closed-book side of its business is linked to it acquisitions, its ability to source deals from a new market should significantly enhance prospects. Chesnara chief John Deane, who took up the job at the start of 2015, explains his business strategy in three streams: maximising the value of in-force business; developing new business, but only where profitable (only Swedish operation Movestic is open to new business at the moment); and completing value-adding acquisitions in the £50m-£200m range. It is on the last point that the Waard purchase scores on.Meanwhile, from the perspective of "maximising the value of in-force business", Chesnara continues to do well. The company announced the 10th successive rise in annual dividend at the end of March 2015 and net cash generation rose from £37m to £71m in 2014, which included a £27m bump from the adopted Direct Line Life Insurance business. The "additional synergies" released as part of the deal helped support dividend growth and underline the company's reputation as a canny deal maker. The capital base is strong, too. In 2014, the group increased its solvency ratio from 194 per cent to 284 per cent.Chesnara's international outpost in Sweden is performing well, too. As the only division open to new business, this operation is a somewhat different beast to the company's other interests. Funds under management grew by 23 per cent in the 2014 calendar year to SKr21.9bn (£1.7bn) and the operation made a significant contribution to first-quarter embedded value growth of £19.5m across the group, a 5 per cent increase on the year-end. That said, exchange rate losses have been a drag on performance recently and a trend in the Swedish market away from unit-linked savings to contracts with guaranteed returns has dampened performance. More recently, guarantees have started to be watered down, which should see pressures on unit-linked sales ease, although the market is expected to remain "suppressed" in 2015.Guarantees have also been an issue in the UK. The company's S&P business, which provides guarantees in the home market, has suffered as low government bond yields have forced Chesnara to dig into its reserves to support policies, which is weighing on pre-tax profits. But with a company like Chesnara, more important areas for investor focus than profit are embedded value (net asset value adjusted for future expected returns from in-force business) and cash generation, both of which look encouraging.Chesnara's business model is designed to weather the ups and downs of yields and sentiment and the ability to write new business provides an income stream in quiet periods for acquisitions. Chesnara's shares trade at a 7 per cent discount to forecast 2015 embedded value, which looks attractive, and at less than 14 times next 12 months' earnings they are below the three-year historic a
Spain Fund
12 Jun 2015
Re: Back in today at 314, what's new ? 24.9% profit in first year for Saga as dividend still to be
Spain Fund
11 Jun 2015
Re: Back in today at 314, what's new ? Nearly came back in again when price dropped again - lol. Overall profit money £3,604 to play with. Sold my Saga shares at close, including my bonus share. I bought in the IPO just over a year ago. Profit 22.5% in a year - amazed as struggled most of the yearStockmarket holdings are nil now. Took out Investec 5 year step up bond with most of my share proceeds in Feb with average 3% p.a.
tomox
11 Jun 2015
Re: Back in today at 314, what's new ? Tuesday 10:48 "All Chesnara profit money, so happy to park it"Thursday 10:51 "Gain too much in two days so cashed out now"Is Chesnara a Short Stay car park then? lol.
Spain Fund
11 Jun 2015
Re: Back in today at 314, what's new ? Gain too much in two days so cashed out for now.
Spain Fund
09 Jun 2015
Back in today at 314, what's new ? All Chesnara profit money, so happy to park it.What's been happening since September?. May 19 Chesnara Plc :* Embedded value continues to benefit from new business profits in Sweden* Expect unit-linked total market to remain somewhat suppressed throughout rest of 2015* Strong embedded value growth in quarter of £19.5m* Acquisition of Waard Group in Netherlands is expected to complete by May 29, 2015 Source text for Eikon: Further company coverage:
forddrive
22 Apr 2015
Chesnara It almost seems as though investors did not realise that it had gone ex dividend, and woke up to it belatedly. Price should gradually recover now.
syd sprout
22 Apr 2015
Re: Volatile or what I have had these for a long long time. For much of this time the the shares would drop by at least 25% in the months after the results. they are far less volatile now.
S17
22 Apr 2015
Re: Volatile or what Usually drops after XD date, but the timing here isn't as close as I'd have epected for that. Maybe it's relatively low profile means it took a few days for the pennies to drop.
le vin est par
21 Apr 2015
Volatile or what I have got used to seeing CSN bounce around with 10% movements not unusual but this is off 15% in about a week where the market (aka my other investments!) has been generally positive. Seems oddly volatile for the type of company this is.
