Share Name Share Symbol Market Type Share ISIN Share Description
Chesnara Plc LSE:CSN London Ordinary Share GB00B00FPT80 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +5.25p +1.58% 338.50p 336.75p 340.00p 339.75p 328.50p 339.75p 43,244.00 16:35:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 282.7 42.8 31.5 10.8 427.86

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Date Time Title Posts
19/11/201512:33CHESNERA-Investor's chronicle tip for income seekers.13.00
23/11/200716:37Chesnara, xd. 01/04/05 fin. div. 7.1p, paid 29/04/05167.00
04/10/200517:38A screaming bargain3.00

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Chesnara Daily Update: Chesnara Plc is listed in the Life Insurance sector of the London Stock Exchange with ticker CSN. The last closing price for Chesnara was 333.25p.
Chesnara Plc has a 4 week average price of 328.41p and a 12 week average price of 325.92p.
The 1 year high share price is 355p while the 1 year low share price is currently 248.25p.
There are currently 126,398,396 shares in issue and the average daily traded volume is 66,915 shares. The market capitalisation of Chesnara Plc is £427,858,570.46.
lord gnome: I suspect that recent share price weakness is in anticipation of a fund raising to pay for the LGEN Dutch arm. Could be a good buying opportunity coming up. I shall be keeping some cash spare, just in case.
jonwig: H1 results - profitability impacted by "a reduction in the yield curve" - similar to PHNX a week ago. This shouldn't affect the share price unduly, as it ought to have been expected. Outcome of FCA investigation into exit charges still awaited - it looks as though they don't expect too big an impact. Solvency ratio holding up well, and look at Waard (584%) - they had a bargain there. Considering their principal business is managing closed life funds, new business written in Sweden is their most profitable area! Economic Value up a bit to 363p/sh - essentially what they used to report as EEV. A decent hold, in my view.
ramridge: The worst case scenario for CSN is they incur disciplinary actions in the form of fines, and they have to compensate past policyholders for any losses. Putting this in £££; is very difficult as FCA fines have escalated due to political pressure, and political correctness and the compensation process tends to take several years, depending on the number of people affected. However, the best scenario is that the FCA finds any breach to be minor and CSN gets only a slap on the wrist. The share price has already fallen 16% since yesterday as I write. My personal feel is that anything lower than a 20% drop is overdone and will be a buying opportunity All IMHO and please DYOR
jonwig: Lord G - I think it works only if genuine holders panic and sell their few thousand in response. Chairman20 is right that it's "derampers", but they aren't using words, they're using the share price. The evidence doesn't suggest it's working here.
lord gnome: Well-spotted jonwig. Death by a thousand bots this afternoon. No real volume however, and not rapid enough to put a big dent in the share price, so I doubt we'll get a big dip today.
jonwig: IC tips "BUY" this morning. Summary: 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 average rating. We think the low valuation, coupled with the improved acquisition opportunities following the Dutch deal, will pave the way for share price upside, which should be coupled with Chesnara's trademark bumper yield and ongoing dividend growth. Buy. Last IC view: Buy, 350p, 31 Mar 2015.
apad: IC text for research purposes:-) CHESNARA What we said: Buy When: 2 January 2014 Price: 318p Share price change to date: +2% It has been a busy week for closed life book specialist Chesnara (CSN). Not only is chief executive Graham Kettleborough stepping down – effective from 31 December – but Chesnara is buying an essentially closed life business – Waard – in Holland, for £55m. Mr Kettleborough’s designated replacement, John Deane, insists the news doesn’t signal a strategic shift, and the Waard acquisition does look in line with the group’s approach of buying and running down closed books. The cash generated supports a generous dividend and management says “orderly capital extraction” is a key attraction of the Waard deal. The Waard move looks like part of a wellunderstood strategy of generating cash from a closed book to support dividends and, indeed, broker Shore Capital expects a full-year dividend of 18.4p – suggesting a tasty prospective yield of 5.7 per cent. Yet the shares, at 323p, trade below Shore’s full-year estimate of embedded value (345p). That’s too cheap and we reiterate our ‘old reliable’ buy Tip of the Year. JA Buy
jonwig: I thought the share price would have been a bit stronger recently, with the AV. takeover of FLG at par to EV. Today's announcement explains why: placing to increase size by about 15%. Price of placing looks to be around 300p. Quite a bit of leakage there!
speedsgh: Confession - I am no great chartist so the following are just my personal musings... Long term chart certainly looks interesting. It's had a couple of failed attempts at breaking the c360p barrier since the start of the year. Looks like that could possibly be the ceiling for now providing strong resistance. It has started to post lower highs/lows since the high in Sept + looks like it could be ready soon to let off some steam after an impressive rise from c155p in Q2 2012. Has tracked largely sideways this yr but in a quite a wide range (280-360p). 50% retrace would take it back down to c260p which happens to be strong historical support from the high of the previous run up (Q4 2008 - Q1 2011). If CSN were to join in a Santa Rally, that might provide the impetus to regain ground + have a third crack at breaking through the ATH resistance. Possible successful break to new highs in Q1 2015 but would still expect the trend to then turn down at some point in H1 2015. Fundamentally the business seems sound (holding CSN is more often than not reassuringly unspectacular) + the dividend should provide fairly decent support in a continuing low interest rate environment. It just looks like it's had a very good run on the long term chart + is probably due a period of weakness. Hopefully the above is proved to be nonsense + the share price gallops off in to the distance. Would be interested to hear others' views.
speedsgh: Can't see why the termination of discussions re the merger of Phoenix + Swiss Re's Admin Re Business Unit should have any impact on the CSN share price. The current share price movements are no more than usual daily fluctuations imo.
Chesnara share price data is direct from the London Stock Exchange
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