Highway Insurance Share Discussion Threads

[abcd1234] 27/8/2008 16:22

thanks re 28th

How are the interims expected to be??...any info??

t.i.a

[pmorrell] 27/8/2008 16:21

Thanks Nigel. I was hoping for at least 85p so good to see you are bullish about the price. Their web site shows the reporting date for the interims is tomorrow (28th)so will be interesting to see the figures.

[abcd1234] 27/8/2008 16:12

HWY are reporting on the 28th August/tomorrow??

[nigelwestm] 27/8/2008 15:15

I'd say 95p based on where it's been before.

[pmorrell] 27/8/2008 14:59

Anybody got a view as to what a reasonable takeout price should be?

[johnsoho] 27/8/2008 14:13

Some interesting trades reported today including one large buy 20 minutes or so before the announcement !!!!!

[nigelwestm] 27/8/2008 14:10

Well, we'll have to see what the institutions want? Cash now, or greater dividend income long term.

With the way the Credit Crunch is going it wouldn't surprise me if they go for the former...

[alexisk] 27/8/2008 14:07

I agree, it would need to go for a lot more than the current share price (around 60p) in my opinion

[nigelwestm] 27/8/2008 14:05

Yes, I was looking forward to the divi too. Let's hope if it does get taken out it is at a healthy upside to the current price...

[gre] 27/8/2008 14:02

It will be a shame if this does get taken over because I was looking forward to some big dividends on my holding. Let's hope it goes for a generous premium to make up for any disappointment!

[welsheagle] 25/8/2008 13:39

From August's 'Company Refs', when price was 50.5p:-
a/ Prospective PE ratio of 6.25 (based on three broker forecasts, two recommending 'buy', and one recommending 'hold').
b/ Positive cash flow per share of 13p per share.
c/ Net cash per share of 61.3p.
d/ Prospective dividend of 12%.
e/ Four directors buying recently.

[laity45] 20/8/2008 12:34

Highway report on the 28th of August so that should tell us something hopefully useful and encouraging.

[miamisteve] 19/8/2008 02:40

ursus - I knew I was selling low, but I bought LRE low @288p. 15% divi. p/e x 4.

Highway promised profits this year from their underwriting but they didn't materialise. I simply don't think that they are an efficient operator and their investments seem more exposed to declining equity markets than other plays.

My other insurer which is at a low, but which I prefer the prospects of is Catlin Group.

As I also mentioned my bank removed lending value against HWY, so switching to larger players in the sector gave me a cushion against margin calls. I am heavily leveraged.

[laity45] 13/8/2008 23:00

If the buys are right this share should be going up a lot more than it is, it should be giving notice of reporting soon I would think.

[warranty] 05/8/2008 20:11

Well if we can't move up on a day like today when other insurers flew it doesn't bode too well divi or not on the way!!

[ursus] 26/7/2008 10:04

miami,
may i now compliment you on an astutely timed sale. well done.

[nigelwestm] 23/7/2008 18:27

Well, I've held these for a long time and was most distressed when they plummeted after the IMS since I have quite a few.

What prompted the recent rally? Must be my sale of a fifth of my holding at 51.5p the other week. But I'm not complaining.

Yes. Eventually when the divi comes these should get back towards 70p and beyond I reckon. There were a few director buys a while back at around 55p too, which is reassuring.

[laity45] 23/7/2008 11:26

Highway reports at the end of August begining of Sept with the dividend coming up again it will go up before then, you may wish you had picked it up around these prices!

[ursus] 23/7/2008 04:13

oh dear, miami - i think you picked the bottom for yr sale!

[muffster] 22/7/2008 20:21

Keep buying - 60p should be here soon

[miamisteve] 03/7/2008 09:44

Sold out today.

With the markets having taken a further nosedive and highway relying on investment return to offset underwriting losses, there seemed better less risky alternatives.

You get same or greater prospective yield, lower p/e's and less equity exposure with larger plays such as LRE.

If this dips below 50p, many banks including my own remove lending value to the share.

[bealey] 23/6/2008 11:44

In NT's public portfolio he sold out on the 27th April this year.I wish I had done the same cos I don't have the funds free to top up at these levels.

[muffster] 22/6/2008 15:55

Will go up a lot more too now - bet the nakedtrader is buying more. Just a hunch, but I know it is on his list.

Time to hoover these up and watch for quick rise past 60p

[shauney2] 20/6/2008 21:51

Blimey!!! one of my holding goes up;-)

[nigelwestm] 18/6/2008 10:01

Already bought back in