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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Benfield Group | LSE:BFD | London | Ordinary Share | BMG0985D1039 | COM SHS 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 349.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 349.00 | GBX |
Benfield (BFD) Share Charts1 Year Benfield Chart |
|
1 Month Benfield Chart |
Intraday Benfield Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 23/8/2008 | 17:24 | Benfield Group | 74 |
| 09/3/2007 | 14:56 | Benfield | 34 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 23/8/2008 17:24 by williebiz 350p a fair price IMV |
Posted at 26/5/2008 15:49 by charles oliver They have sold their only Underwriting entity, Alliance, which they inherited when they purchased Blanch a number of years ago. That may explain the slight upturn in price. Not much of a reason though. |
Posted at 02/5/2008 08:16 by charles oliver There has been some industry press over a big win they had as a joint effort with one of their previous leaders of the US operation Rod Fox (who left in some quite bizar circumstances). Other than that I have heard nothing, so no take over rumours. However the price is ticking away in the right direction for now. |
Posted at 20/3/2008 14:46 by charles oliver Have re opened a short yesterday with a stop at 250. If it gets past that then perhaps the sentiment may change,but as said there is not a lot of good news but the price does seem to be stable at the moment. |
Posted at 20/3/2008 06:40 by charles oliver I agree they just didn't come out with any good news for now or the 2008 year. The management would probably buy it back before they accepted any bid at this level, perhaps they are happy to see the price slip a little further! |
Posted at 13/2/2008 17:01 by williebiz Not really, as BFD is pretty much out on a limb with what it does (others compete but tend to be more universal whereas BFD is quite concentrated) plus I really bought into the story, sitting it out for now but always take a keen interest as sooner or later something good or dramatically good is fairly sure to happen.Don't get me wrong: the bad news might already be in the price and BFD does tend to enjoy a decent P/E ratio. |
Posted at 13/2/2008 16:46 by williebiz BFD have been seen as a takeover target for the last year or so and John Coldman is not somebody to take the fall in share price lightly (see the share buyback prog)... TU profit warningLONDON (ShareCast) - Reinsurance broker Benfield has warned the weak dollar will mean trading profit this year coming in below previous indications while the outlook for 2008 is also uncertain. Benfield had already flagged problems with weakness of the US dollar and a softening of the reinsurance market. "The impact of these two factors, particularly the further weakening of the dollar, has continued in the second half of the year. Consequently, the board now estimates that reported trading profit for 2007 will be marginally lower than previously indicated, subject to expectations on business streams in the final quarter of 2007 being met," it said. The outlook for 2008 is again likely to be affected by the weak dollar, it also said, adding that with reinsurance capacity ample in most markets and in the absence of significant global reinsurance losses, Benfield anticipates further softening of rates over the next twelve months. The downbeat trading comments overshadowed news of £150m share buyback programme over the next two years and a new debt facility of up to £300m. Warren Buffett's Berkshire Hathaway stoked interest in the reinsurance sector by buying NRG, ING's reinsurance unit, albeit at a 100 million discount to its value on ING's books. Benfield Group, the reinsurance broker seen as a potential predator for Aon, of the United States, edged up 1¾p to 284½p despite a downgrade from Numis, which cut its target price to 245p and its 2008 earnings forecasts by 12 per cent. Benfield, the reinsurance broker, fell another 13p to 272¼p as ABN Amro, which had stoked recent bid speculation, cut it from "buy" to "hold" following its profit warning last week. Benfield Group 297¼p -6¾ Questor says Sell There was disappointment all round when Benfield Group, the world's largest independent reinsurance broker, announce a major share buy-back yesterday. As it pledged to repurchase up to £150m of stock over the next couple of years, the shares tumbled - and understandably so. Further into its statement was a warning that its profit estimates for 2007 will be "marginally lower than previously indicated". Benfield generates 42pc of its revenues from the US, so it should come as no surprise that the weak US dollar has taken its toll. In a double whammy, the group has also been hit by falling insurance premiums. Benfield has arranged a new £300m debt facility to repay its existing debt and to fund the repurchasing strategy; something it likes, having finished a similar scheme earlier this year. Although the share buy-back plan is designed to help support the shares, it has also dashed bid hopes. This means the FTSE 250 group cannot be in takeover talks - market rumours were that it was in discussions with rival broker Aon. With a yield of just 4pc, there seems to be little incentive to hold the shares. Of course, takeover rumours could yet come true - Goldman Sach's private equity arm is understood to have looked at taking the group private a few months ago - but that deal apparently failed due to financing difficulties. A sudden pause in the share buy-back programme would be a key indicator if an approach does emerge, but until then the shares don't deserve to trade at a premium to the sector. Benfield Group After a month in which speculation of a bid from Aon, of the United States, has helped shares in Benfield to rise 18 per cent, the attention of investors in the mid-cap insurance broker was returned to more mundane matters yesterday. The £700 million company cautioned that a further weakening of the US dollar since September's interim results and subdued trading would mean that this year's reported trading profits will be "marginally lower" than previously indicated. Benfield's bind is that it draws three quarters of its sales in US dollars, but, through its presence in the London market, has substantial costs in sterling. Its other problem is that while falling reinsurance rates can be good for business - by stimulating demand, transaction volumes and Benfield's commission income - rates so far have not fallen far enough or fast enough to tempt insurers to lay off more of their risk through the reinsurance market. Benfield expects rates to fall further over the next 12 months, but forecasting at what point insurers might buy reinsurance more heavily is a hazardous business. The sweetener for investors is that Benfield has agreed a new debt facility of up to £300 million, which gives it scope for a £150 million share buyback over the next two years, its third since floating four years ago. Yet although that leverage brings Benfield's balance sheet more into line with its peers, the benefits of fewer shares in issue can be easily offset by the higher cost of debt. Benfield does best in the wake of big insurance losses, but, in more normal times, the shares, at 297¼p, or 17 times next year's earnings, are likely to languish. No more than a hold. Speculation that Benfield, the reinsurance broker, could be subject to a bid from rival US giant Aon helped it to buck a falling market. Benfield rose 2¾p to 281¾p after ABN Amro's Joanna Parsons said that a takeover by the US rival would make it the largest broker in the world, overtaking arch rival Marsh. "In our view Benfield has reached optimum size and is currently struggling against the dollar/sterling exchange rate and constrained resinurance demand," she said. In recent months US fund managers such as Harris, Artisan, Deccan and Tradewinds have been buying stock, and they know Aon well, she said. |
Posted at 13/2/2008 16:22 by williebiz I follow BFD, I would suggest that they have further to fall: the E of Earnings has fallen off a cliff and forward P/E is still 15x, I reckon we could see that down to 12x in the blink of an eye. |
Posted at 13/2/2008 16:18 by charles oliver These have got to be worth a punt, this price is very low and the sector is looking ripe for consolidation. Maybe price brought down due to AIG having suffered. This is a broker though not an Underwriter. |
Posted at 25/5/2007 12:23 by lex1000 BFD reasonable punt on takeover buy dips not chase share price higher if can afford tie money up.Recent buying on back of Fidelity holdings.Institution Chart downtrending 2005 prices from that point of view negative.Hope bounce off 305p as before with 300p as back up.If not rely on supports sub 300p say 270p.Would be buyer @ 250p. Greenspan,China,sell in May come back September do not help matters.If market crashes after UK close nothing anyone can do about it but wait until Tuesday i.e UK PLC closed bank hol monday.aimvho.dyor. free stock charts from www.advfn.com |
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