B.p. Marsh & Partners Share Discussion Threads

[bruceylegs] 23/10/2013 11:35

Simon Thompson tipped again today - "run your profits", highlighting the discount to NAV. He likes the Besso & Sterling Insurance investments.

[jeff h] 19/9/2013 12:12

I see Hyperion are to make a £47m acquisition soon.

A reasonable price for BPM! - can't see them wanting minority stakes in other companies though.

hxxp://www.newsinsurances.co.uk/u-k-based-insurance-intermediary-firm-hyperion-insurance-group-assigned-preliminary-b-rating-outlook-stable/0169493828

[jeff h] 22/8/2013 08:39

Interesting comment in the Trading Update:-

"The Board continues to consider exit opportunities for both portfolio investments and for the Group itself as and when they may arise."

...so company may put itself up for sale?

[dashton42] 29/7/2013 12:39

Simon Thompson (Investors Chronicle) revists the investment case for BPM today:

[azalea] 15/7/2013 11:38

The 1.25p div is somewhat miserly.

[spob] 09/7/2013 13:48

it's only a small loan in the grand scheme of things

[11023154] 08/7/2013 20:24

Yes Jeff, I've noticed cash balance, seen this was the talk, seemed possible, but this new loan to hyp has put a spanner in the works.

[jeff h] 08/7/2013 18:03

Think a fair few (me included) thought there was a chance of a Special
Dividend 11023154.

[ih_407129] 03/7/2013 11:57

IMO - share price is cheap, markets look shaky, potential buy in next few weeks, few traders today may have timed poorly.

[11023154] 03/7/2013 10:40

Anyone going to the AGM in a couple of weeks?

[11023154] 03/7/2013 08:56

another breakout, share price still looks cheap imo

[lime circle] 04/6/2013 20:05

I couldn't agree more t.m.
The report seems to make a point of ignoring the incoming cash. The Chairman's statement effectively says they won't publish a plan until the deal is done yet, further down, the deal is sufficiently concrete to underpin the company valuation.
Something has to change surely: the reiterated strategy is to invest carefully up to £2.5M per holding (good) but there will be enough funds to do this ten times over (very not good). The alternatives being distribute (good) or to leave it in cash (why?).
Excellent spot for next week Azalea. I'm surprised that it wasn't in the commentary as well as being buried in Note 27! I'm not sure they need the Hyperion cash for it though. Again there seems to be a disconnect in the report, with Note 27 saying full commitment of the loan facility but the commentary not.
Don't get me wrong I've held this share for years but I used to understand it!!!

[tom.muir] 04/6/2013 09:28

No real surprises but a solid result and encouraging indications of more to come.
The most interesting part for me is what ISN'T said! No mention of a dividend although there is enough cash available to match last year's 1p divi. This suggests to me that when the Hyp cash arrives there will be a special dividend.
There has been comment before regarding the Hyp valuation against the BPM market cap. It's not the wide gap that it was a year ago but it is still quite significant ie BPM Cap £38m v Hyp stake as at 31 Jan £35.456m.
Tom

[azalea] 04/6/2013 07:35

News of an acquisition next week funded no doubt from the proceeds of the sale of stake in Hyperion - accompanied by final regulatory approval.

[azalea] 30/5/2013 15:33

The ticks up this week are encouraging,but the results could move the share price much nearer S.Thompson's tgt of 150p

[azalea] 28/5/2013 13:14

FY results 4th June; the div could be interesting. Today, S.Thompson reiterates his 'buy' recc "sp a third below proforma book value 189p".

[azalea] 30/4/2013 11:58

Interestingly, AURR is doing just that. The share price is being buffered on a daily basis. No doubt the board is well aware as they ponder what its going to with its £20m.

[jeff h] 28/4/2013 13:13

A Tender Offer to all shareholders could be made perhaps?

[azalea] 28/4/2013 09:24

Given there are less than 6m(20%) shares not in major holders hands, I am not sure whether the benefits from buying back shares would be as great as buying stakes in companies similar to itself -operating at a large discount to NAV.

[azalea] 26/4/2013 17:07

Its a bit of a drag waiting for things to happen, which I am confident they will during the next month. The bringing on board as a non exec a very experienced insurance operative suggests his task will be to pick out the next target for the company to take a stake in using some of the money from its sale of Hyperion shares. We could even see a dividend to boost the share price

[azalea] 16/4/2013 16:26

Resolution voted on and passed.

[azalea] 15/4/2013 16:17

A great time to be holding the likes of BPM, loads of cash and high NAV.

[tom.muir] 15/4/2013 15:34

Topped up today as the vote on the Hyperion deal is 10am tomorrow and we chould see the cash fairly soon now. Tom