LK Hyman
09 Aug 2017
Re: Half year divi RAC,"a 12 bagger."Well done, m8. You should be able to afford to replace that rag top Beemer soon, no?LKH on the flybridge Treatt is my only multi bagger, and it ain't 12 I suspect
RAConnell
09 Aug 2017
Re: Half year divi LKH,Not complaining - a 12 bagger.Cheers, RAC
tejo
09 Aug 2017
Results I think that one starts to take good results from L and G for granted but these are really very good indeed. OK there is not the Asian potential that is evident in the Pru, but by keeping a clear focus on its own targets, it is hard to find a better core holding in a diversified portfolio that LGEN inho.
LK Hyman
09 Aug 2017
Re: Half year divi Frankers,"think the management will put forward an interim dividend of 4.65p"Nigel said that the setting of the interim is purley formulaic ... one third of the full previous year's divi, so there was never any doubt that it would be 4.3p.Results look great to me. A bit surprising that peeps are dying younger, mind.Share price reaction also slightly surprising, though perhaps it's partly "buy on the rumour, sell on the fact" and partly a response to the Trumpton/Youngster stand off.Trumpton is such a wild card that I wouldn't be totally surprised if he said to the Youngster: "OK, you have a crack at Guam and, when you've taken your best shot, we'll have a crack at Pyongyang and how do you like them apples?"LKH on the flybridge
Hydrogen Economy
09 Aug 2017
Re: Half year divi results look outstanding. Certainly the mortality release contribution helps (if that's the right take on people dying earlier) 126m contributed to OPERATING PROFIT UP 27% TO £988M (H1 2016: £777M) compare to FY forecast OP of 1645 m suggests a FY upgrade can be expected to over 1700mGood results in all areas especially international. Very happy holdingH2
sound money
09 Aug 2017
Re: Half year divi Here is our CEO's point of view:"Our consistently improving financial performance is due to: investing for the long term in our market leading businesses, excellent execution by my colleagues and delivering value for customers.Our strategy, based around six long term macro and demographic growth drivers, not only allows us to grow L&G’s business, but also the scale of our long term capital enables us to support inclusive growth across the UK. We are replicating our successful UK model with measured expansion in the US, where we are experiencing increasing customer acceptance and an ever improving financial performance."Well he does have the results to match his enthusiasm. Whither the naysayers now, and there have been some.Bet LKH is glad he held.M
Boring Bernie
09 Aug 2017
Re: Half year divi Your estimate on the divi wasn't far out, it actually came in at 4.3, so should be about 14.3 for the full year.At a quick glance, the headline profit figures are flattered by the unexpectedly high mortality release contribution, but the underlying operating profit is still a very healthy 9%.It'll be interesting to see how the market reacts to these results. Back in December I thought we'd have been fully valued ( so would have reduced and taken some profits ) at 280p, but we've moved on since then, and, on a quick skim of the Interims, I now think we're now worth anything up to about 310, maybe 320p.
dazurtrader
08 Aug 2017
Good for both growth and income In the last 12 months SP growth has been 30%, with 20% in the last 6 months. Divis are up 50% in the last 3 years. This is a well run, transformed, business in a sector that has momentum and is one of my core holdings. I would expect a SP of 300p+ by the Dec 31st.
Frankers70
08 Aug 2017
Half year divi On the back of expected decent half year results tomorrow, think the management will put forward an interim dividend of 4.65p, making 15p for 2017, 5.5% return at a current share price of 275p. One of my stronger holdings at the moment and a banker in anyone's portfolio. GLA that are holding...
Hydrogen Economy
06 Aug 2017
Re: Sounds Odd L&G into Retirement Sector Clearly this is a big and growing market, L&G has been flagging this area as one of many new business areas to develop (see slide 40 from FY16 presentation below). BTR, modular & affordable housing etc. Having helped pensioners to build a pension pot, no harm in helping them spend it. 40m is barely a toenail in the water for L&G.Clearly a very different business from L&G core activities, however similar the chatter in the days rooms may sound to that in the actuaries department. [link]
asand
05 Aug 2017
Re: Sounds Odd L&G into Retirement Sector Sounds a much better use of long term capital to fund its pension obligations than parking it in gov bonds yielding a percent or two, and will likely be as secure a home as the poorly yielding gilts - j'approve! and will be holding landg for many a long year and nice fat divi yet (hopefully)
Chicken Lips
04 Aug 2017
Sounds Odd L&G into Retirement Sector L&G has spent £40 million buying Inspired Villages Group, retirement homes and Phil Bayliss, head of Legal & General Capital’s later living team says spent £1Billion on build to rent already behind schedule. Sounds like Tesco forays used to sound to me to America etc - dabbling with excess cash or not knowing what the ... to do with excess cash. Here it is plus link....Legal & General has made its first entry into the retirement housing market after buying a care operator, with plans to build 3,000 homes for older people over the next five years.The FTSE 100 company has spent £40 million buying Inspired Villages Group, which was previously a joint venture between English Care Villages, a specialist care village operator, and Places for People, a housing association. The purchase includes two retirement villages that are nearly completed as well as the Inspired Villages’ management. Places for People has sold its stake.The British insurer said that alongside running the 300 homes in the two villages, in Warwick and Cheshire, Inspired Villages will buy several developments a year, each of about ten acres.L&G believes there is a substantial demand for retirement homes, which is likely to prove highly lucrative. It estimates that there are 3.3 million people in Britain planning to downsize but only 7,000 specialist retirement homes were built last year. The biggest operators are McCarthy & Stone and Churchill, and there are more upmarket developers such as Audley Homes.Compared with Australia or America, the retirement housing market is small. A report by Savills, the estate agents, found that only about 90,000 people a year downsize, leaving 2.9 million houses inhabited by the over-65s with two or more extra bedrooms each. There is an estimated £835 billion of equity in those homes.English Care Villages was established in 2009 and has set up partnerships with not-for-profit organisations such as Places for People and Anchor Trust to run its homes. It will become the Inspired Villages Group after the L&G acquisition and will be able to expand its pipeline of developments rapidly.Jamie Bunce, chief executive of Inspired Villages, said that the group would aim to create “positive environments where people can remain socially engaged, comfortable, safe and secure while they enjoy later life”.Inspired Villages said that it would build villages that had homes around a central square along with restaurants, gyms, libraries and access to specalist care, for which residents could pay. Homes will be priced between £250,000 and £375,000.Phil Bayliss, head of Legal & General Capital’s later living team, said: “We believe our long-term capital can deliver significant housing, health and wellbeing benefits for those in later life.”L&G has also invested £1 billion in the burgeoning build-to-rent sector, working with PGGM, the Dutch investment fund, with 1,500 homes under construction.It is developing the world’s largest prefabricated modular homes factory near Leeds. The production line for the first buildings, however, is a year behind schedule after delays in the installation of machinery as well as accreditation and planning issues.The insurer has a 46.5 per cent stake in Cala Homes, the housebuilder, and is building a 1,000-home development in Crowthorne, Berkshire. L&G is working on big urban regeneration projects in Salford, Plymouth, Liverpool, Newcastle upon Tyne and Canning Town, London.[link]
IOMINVESTCOM
27 Jul 2017
Legal & General beats expectations Legal & General beats expectationsDeutsche Bank has upped its price target on Legal & General (LGEN) ahead of the insurer’s first-half results on 9 August.Analyst Oliver Steel hiked his price target to 270p from 255p, with a ‘hold’ rating, pointing to the insurer’s stronger-than-expected free capital generation and Solvency II ratio, a measure of insurers’ financial strength.Inflows into the fund management business, Legal & General Investment Management, have also surpassed forecasts, as have annuity flows.‘Legal & General has pre-announced a certain amount of key data already as of mid-May and mid-June, though there is some evidence to suggest that disclosure at the time was conservatively stated,’ said Steel.‘Though this does leave the group’s cash flow and profit and loss still to be revealed and potentially some announcement on longevity assumptions, we think the combination of the above should imply a relatively quiet reaction to the results.’Shares in Legal & General rose 1.6p to 265.4p yesterday.[link]
Krayl
15 Jul 2017
Re: Little housing landlords When I saw the 'prefab sprout' website I did have to check that it wasn't April 1st but I think the concept is brilliant - it's how houses should be built. The idea of building houses brick by brick is so archaic.I don't know if this is the right business for LGEN but it could really take off.
Chicken Lips
15 Jul 2017
Re: Little housing landlords Yes saw that. Its taking your ethical stance quite a distance thats for sure. Not sure there is much in terms of money in it but lots in terms of political and social capital. The CEO has kept stressing the social responsibilities of UKPLC, so is being true to his word. It just reads a little unconventional - odd in business terms - a good thing, I think so like IKEAs solar panels.
