Lancashire Share Discussion Threads

[cwa1] 30/3/2016 08:14

Thanks GARYCOOK.

LRE off a bit early on, this probably not helping:-

Lancashire Holdings Limited (LON:LRE) had its price objective reduced by RBC Capital from GBX 550 ($7.83) to GBX 500 ($7.12)

[garycook] 30/3/2016 02:29

Received my Dividends from both Hargreaves Landown and TDDI on 23/03 and received at 7.16p

[jrphoenixw2] 29/3/2016 18:30

It's hard to know for sure.
A/O last night at IB the statement I extract now for close last night still shows two accruals at two slightly different rates. Neither indicate a 'Pay Date'. just '-' which is what happens when it's late.

I queried this with Customer Service, but 2 days later they haven't bothered to reply. The query is marked as 'In prog'. Previously they haven't replied until it's fixed when they reply and say 'It's fixed [no explanation, bye bye]'.
When I previously chased them on this and tried to figure out where the breakdown is... they can be pretty quick to get ar$ey. It's very disappointing.

When I look now at the Webtrader page Cash line has increased by a credit of pretty much what I'd expect if the LRE div has been banked. But since IB never send a div-advice e-mail notification when the div is late... who knows for sure.

Tomorrow I'll check again and try and once again divine what the situation is. What I do know is the double-whammy of paying margin at IB, and losing int-income on late divs, together with nil information + their ar$ey attitude is very very bad quality of service.

[cwa1] 29/3/2016 17:14

Anyone NOT received their dividend yet? Still waiting here....

[jrphoenixw2] 18/3/2016 09:39

'I feel your pain'. The FX rate appears surprisingly hard to get. It'd be very helpful if LRE published it on their website.
What I do know is (E+EO!):
The FX rate was to be determined at noon on 26-Feb
I have a filenote of a rate of US$0.10 @ 1.396 = £.0716
I believe that rate was an estimate sourced from simply where 'cable' was at noon/26-Feb, rather from any form of official announcement.

The rate on LRE's site indicates £0.07 But as you see the previous final figures are to 4 decimal places, so IME that 7p is still a place-holding estimate.
hxxp://www.lancashiregroup.com/en/investors/shareholders/dividend-history.html

The accrual in my account (Interactive Brokers) is at £0.07. But previously I have seen they do not adjust the accrual when the actual fx rate is announced. IIRC on the previous div, the accrual changed on the evening prior to the P/D.

I've a holding where those decimal places are material. It'd be so nice if LRE just published the rate on their site!

[badtime] 18/3/2016 08:39

Div due Monday? How much expected in sterling terms per share?TIA

[garycook] 14/3/2016 08:40

Glad you purchased now then MMD !!!

[cwa1] 14/3/2016 08:25

Morning

Was pleased to see this morning's movement.....until I saw my average buy in was nearly 580p :-( That was badly timed. Oh well, improving trend for now...

[mister md] 14/3/2016 08:24

Well thats quite a move for a Monday morning +6% at the moment ...

[garycook] 12/3/2016 04:50

Hopefully bottomed now at 519p.Also purchased 2 tranches at 534 on Thursday.Cheap stock to hold for Growth and Dividend income if maintained at year end.Mister MD my pleasure.Think you will not be disappointed a few Directors buys recently between 540/560p

[kilgallp] 11/3/2016 09:43

I added to my holding following the director purchases...fingers crossed.

[mister md] 11/3/2016 08:38

Bought first tranche at 538p the other day - Garycook thanks for highlighting recently, hope I got lucky with my timing

[garycook] 11/3/2016 00:18

Hopefully you will be rewarded long term,and a year end big Special Dividend.

[effortless cool] 08/3/2016 07:06

Premium rates are rubbish, investment returns are rubbish. A sequence of lucky years (2012-2015) with catastrophe experience have made these businesses look like they are doing better than they are. No matter how good the management and the underwriters, the market is poor.

[garycook] 07/3/2016 23:26

Anyone explain why this and BEZ and other Non-Life Insurers are being hammered.Understand LRE and the Catheral issue,but why the others too ?

[jrphoenixw2] 04/3/2016 16:26

The RNS's are coming thick and fast, Invesco now 21.23%, Woodford still 11%
Has the CFO Whelan and husband had a 2nd shopping trip or are those dupe notifications just repeated now from yesterday?
IMO (just a kind of informed feel from prev. career in in big financial PLC/Incs) pay close attention to transactions by the CFO, they tend to be closer than any other insider-employee to the real spun-free state of play.

Have Invesco and Woodford manoeuvred themselves into the primary take-outs for a declared take-over? Well it's Friday and I can hope eh?

[jrphoenixw2] 04/3/2016 16:06

Useful link, thanks, I haven't seen that before. Invesco + Woodford = 31%

Are you thinking what I'm thinking? Ok, to be clear :), they're scenting a take-over might emerge at some point? IIRC it was mooted a few times last year but hasn't developed further from there. Well, apart from these recent insider/smart-money buys I suppose.

[jrphoenixw2] 04/3/2016 15:47

Neil Woodford (perhaps I should say 'The' Neil Woodford) of behalf of clients of Woodford Investment Management +320k yesterday or 1.47% to = total now 11% direct holding.

Enough smart money going in yet to establish some kind of floor?

[speedsgh] 04/3/2016 13:38

EC - Each to their of course to interpret what, if any, signal it sends.

[effortless cool] 04/3/2016 13:23

It signals to me that they are over-remunerated.

[speedsgh] 04/3/2016 13:12

So since Final Results (18 Feb) + news of departures at Cathedral (25/29 Feb) was released, we have so far had the following purchases by PDMRs:

Alex Maloney (CEO) bought 44,553 @ total cost £249,497
Peter Clarke (NED) bought 14,000 @ total cost £77,241
Elaine Whelan (CFO) bought 29,500 @ total cost £165,569
Kilian Whelan (spouse of CFO) bought 8,990 @ total cost £49,912

That's a total of £542,219. Looks like management are backing with their own hard earned cash their ability to successfully steer LRE through the low point in the underwriting cycle. That's sending a fairly strong signal imo.

[jrphoenixw2] 03/3/2016 18:23

Elaine Whela [spouse of]
+8,990 at £5.551931 per share
Date: 3 March 2016
Holding now +11,590 Common shares (0.0058% )

Another £50k worth...

[jrphoenixw2] 03/3/2016 17:02

Elaine Whelan ED/CFO +29,500 today at GBP5.6125 per share, holding now 316,669.

Combined with the other buys this week might this be considered a vote of self-confidence from the board?

[cwa1] 03/3/2016 10:58

Numis have upgraded from ADD to BUY but dropped their price target from 705p to 675P.