Greyinvestor
08 Dec 2016
Re: Not a good year I think that NVA is firmly in the reasonably priced category. I'd add if I hadn't got such a large holding. I base that opinion on the expectation that the company will average earnings of about 75p, and will continue to maintain reasonable asset backing.
MrMeerkat
08 Dec 2016
Re: Not a good year NVA has been on my watchlist for a while but the recent SP rise was racing away from me. Does this drop represent a buying opportunity? While the update is clearly disappointing compared with prior expectations, it isn't disastrous and perhaps represents no more than the usual cycle of performance in insurance. I'm conscious too that it could well be a bid target in the current climate of consolidation.Any other views?MM
Greyinvestor
08 Dec 2016
Not a good year A pretty grim announcement today. Sounds like NVA won't be making much money out of underwriting this year. Doesn't say much for their risk controls; it hasn't been a good year, but they ought to be making more than they are.On the investment side, everyone will be taking a short term hit. Treasuries are falling like a stone.What we have to hope for is that this burns some capital out of the market and arrests the falls in rates. It is part and parcel of underwriting that you have some bad years.It'll be interesting to see how much better LRE does.I'd have thought that NVA is becoming a bid target......I'm holding on.
Inatthetop
26 Sep 2016
Re: Boots filled Good call in my opinion. Tempted to take on more myself but a bit overloaded with insurance stocks taking up over 60% of my portfolio. Good luck.
Inatthetop
26 Sep 2016
Re: Boots filled Good call in my opinion. Tempted to take on more myself but a bit overloaded with insurance stocks taking up over 60% of my portfolio. Good luck.
Greyinvestor
26 Sep 2016
Boots filled I've more than doubled up on these. A very good price, I think. But we'll see, DYOR.
Greyinvestor
03 Aug 2016
Good results Good results today, I thought, in the face of worsening prices and claims. Divi up from 7.3p to 7.5pOutlook OK, could be worse. Well done Novae......NTA £5.85 v £5.51In my view worth not less than £8.19. A bidder could value the business as high as £9.94.
Greyinvestor
19 Jul 2016
Top up Top up for me today at £7.53.....
Greyinvestor
15 Jun 2016
Top up Bit of a top up for me today. Bad time for the insurance market but NVA seems to be holding steady so far......
Greyinvestor
02 Mar 2016
Sensible results Decent results today, I thought.Gross premiums £787m v £638mNet premiums £582m v £483m - good growthPBT £55m v £62.6mEPS 79p v 78pInvestment return £6.8m v £14.3mSo PBT is down in a good claims year, so is tax, so EPS is flat.PBT is down because of falling investment returns because of QE making returns impossible.Dividend 20p plus 22.5p special. Marvellous.NTA £3.47 v £3.32 - goodConclusion; this is as good as it gets while central bankers destroy investment returns, damn them. Claims will rise so profits will fall. So the global insurance market goes on getting tougher. But these guys are great dividend payers and are doing their level best. Everyone wants a bad claims year, to improve future returns. But reinsurers especially will take a bath when the time comes.A Hold for me, at the price I paid (around £7.45). But DYOR. You need to be a long haul investor to buy.
Greyinvestor
16 Feb 2016
topped up Made a sizeable top up of my NVA holding today. Not stunning value @ £7.45, but good enough. Very much a long term investment for me, with a decent dividend.
II Editor
27 Jan 2016
NEW ARTICLE: Ten potential turnarounds for value investors "In the hunt for cheap shares with the potential to bounce back, a popular place for value investors to look is the sometimes perilous territory of turnarounds. This is the corner of the market where bashed-about companies with shares that are ..."[link]
Guitarsolo
16 Sep 2015
Re: Ex Div 23 April Paying 38.2p 10th June 2015, LG "Looking toppy.....SELL"Price 10th June = 745pPrice today= 888pBANG OFF!Machine must be broken!BTW, now it's looking toppy but I still wouldn't sell. NVA is one of three realistic targets left for all that insurance capital looking for a home.
Greyinvestor
05 Aug 2015
Good results Decent results out of NVA:Revenue +23% - excellentOp Profit £29m v £22.6m, pre FX losses - excellentDividend 7.3p v 6.6p +10.6% - excellentCombined ratio 90% v 92% - adequate pre hurricane seasonRates (3.3%) - OK, in line Bond duration 1.1 years v 1 year -goodEPS 25.6p v 27.5p (this is lower because of FX losses) - fineNet tangible assets £5.00 v £4.68. This is the real measure of added valueMy view; shares are worth £7 based upon NTA and maybe a little more based upon earnings.I have a small holding at the moment. The shares are strong Hold for me.
mcescher
29 Jul 2015
Found this good report on NVA With a PE of 11.4x, what are peoples opinions on whether NVA is good value? I've been researching on here [link]
