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Share Name Share Symbol Market Type Share ISIN Share Description
B.p. Marsh & Partners Plc LSE:BPM London Ordinary Share GB00B0XLRJ79 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 270.00 29,360 00:00:00
Bid Price Offer Price High Price Low Price Open Price
264.00 276.00 270.00 270.00 270.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 16.70 12.27 34.90 7.7 101
Last Trade Time Trade Type Trade Size Trade Price Currency
16:40:37 O 15,000 265.00 GBX

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Date Time Title Posts
26/2/202111:58B.P.Marsh & Partners -- Growth Potential677
20/6/201818:19*** B.P. Marsh ***3

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DateSubject
07/3/2021
08:20
B.p. Marsh & Partners Daily Update: B.p. Marsh & Partners Plc is listed in the General Financial sector of the London Stock Exchange with ticker BPM. The last closing price for B.p. Marsh & Partners was 270p.
B.p. Marsh & Partners Plc has a 4 week average price of 266p and a 12 week average price of 251p.
The 1 year high share price is 279p while the 1 year low share price is currently 139p.
There are currently 37,423,138 shares in issue and the average daily traded volume is 19,094 shares. The market capitalisation of B.p. Marsh & Partners Plc is £101,042,472.60.
26/2/2021
11:48
its the oxman: Who knows but would like to see nav near 450p come Oct interims and c.15% discount. Putting at least another 100p on current share price. We will see.
09/2/2021
12:23
peter27: They could do a buy back if he sold some shares to maintain his %. I believe there are also AIM restrictions relating to the T/O of minimally traded shares which then restricts the number of shares which can be repurchased. ie danger of a false market or ramping the price. Don't forget that the law was changed comparatively recently to allow companies to buy their own shares. It used to be illegal.
09/2/2021
12:13
shaker44: Maybe they want it out there that they would if they could! Or they see advantage in indicating that BPM could take it private. Bait for Private Equity investors? What is certain is that the RNS has a purpose....
09/2/2021
11:59
skyship: Incidentally, can anyone make any sense of this extract from today's RNS? If they can't buyback, why have the strategy to do so? If they can't buyback, how did they manage to do so in 2019? ================================ Share Buy-Backs As has been stated previously, the Group has a strategy for undertaking small market buy-backs of its shares at times when the discount to Net Asset Value ("NAV"), based upon the most recently announced NAV, is greater than 15%. For the avoidance of doubt, notwithstanding that the discount to NAV at which the Group's shares are currently trading is greater than 15%, the Group repeats that it is currently restricted in its ability to buy back shares since, given that Brian Marsh, together with persons acting in concert with Brian Marsh for the purposes of the City Code on Takeovers and Mergers (the "City Code"), has an interest in approximately 41.85% of the Group's voting rights, any such purchase of shares would result in an obligation for Brian Marsh to make a general offer for the Group in accordance with Rule 9 of the City Code.
09/2/2021
11:48
peter27: The other problem is that because of the worldwide nature of the investments which require more time to log their results together with the lag in insurance returns, all the information they provide is typically six months old. BPM confirmed this to me at an AGM some years ago.
26/1/2021
14:45
thirty fifty twenty: nice to see the rise today, though IMHO a little odd correlation to the RNS ATC was last valued at c.7m so even a 50% increase is only 3m (c.2%) onto BPM NAV. Still it is the latest of 'information' RNS where they dont say much other than highlight the good performance with their underlying investments. the 2 most material investments are Nexus 40m + NFC financial planning 35m. an interesting presentation yesterday from TAT and also TU from QLT today, as well as other recent sector news bodes very well for NFC. and BPM couldn't have been more positive about the profit forecasts for Nexus last time. current NAV is 396p and i think a >5% uplift can be expected, added to this that the company has publically stated that it wants to buy back its own shares and i agree that we';; soon see the price start with a 3 handle. ALl IMHO, DYOR + BoL BPM is in my top 5 hldgs
11/1/2021
11:18
riverman77: As I've said before it needs some sort of rebrand to make it more exciting. Augmentum fintech fund is on big premium, as it markets itself as an exciting start up fund. I personally think BPM has a better portfolio, but completely under the radar.
11/1/2021
09:28
thirty fifty twenty: a good RNS with further positive developments at Nexus. What does poor BPM have to do for investors to notice the valued added in its portfolio? time will tell All IMHO, DYOR + BoL BPM is in my portfolio
04/1/2021
11:58
thirty fifty twenty: hi Oxman - i'm wondering if this is a leading indicator.... at the late stages of the dot.com boom (per Warren Buffet), investors sold shares in good quality business, to buy into momentum stocks? i can easily imagine a private investor thinking ' BPM is boring - might rise 20% in 2021. i'll sell that and buy xyz that might rise 20% this month!. All IMHO, DYOR + BoL BPM is in my portfolio
13/9/2019
19:16
spob: Exploit BP Marsh and Partners anomalous discount to NAV Simon Thompson Investors Chronicle September 9, 2019 Https://www.investorschronicle.co.uk/comment/2019/09/09/takeovers-tenders-and-taking-profits/ Financial markets should operate efficiently, embedding all known information into asset prices. However, if they did so then the share price of insurance sector investment company BP Marsh & Partners (BPM:216p), a company that has delivered 11.9 per cent average annual compound growth in net asset value (NAV) since 1990 by backing the management of its investee companies, would not have fallen by a fifth last week. The share price reversal was prompted by news that LEBC, a financial advisory group in which BP Marsh holds a 59 per cent stake, agreed voluntarily to cease providing defined-benefit (DB) transfer advice following a market-wide review by the Financial Conduct Authority (FCA). The DB segment of the business accounted for a fifth of LEBC’s annual revenue. The stake in LEBC has a carrying value of £35.5m (98.6p a share) in BP Marsh’s accounts, implying an enterprise value of 13 times LEBC’s operating profit after adjusting for net cash on its balance sheet. The stake also accounts for over a quarter of BP Marsh’s last reported net asset value (NAV) of £126.2m (350p a share). LEBC has performed well to date, but clearly there will be an impairment charge on the holding when BP Marsh reports its interim results on Tuesday 15 October. But what investors have ignored is that BP Marsh’s board have said that “the strong performance delivered by a number of our investee companies in recent months means that the company will emerge in a satisfactory position as regards its financial results.” In other words, expect valuation uplifts on the rest of the portfolio to largely offset the write-down on the LEBC investment. In fact, the directors brought forward a pre-close trading update to highlight just how well some of the investee companies have been performing. For instance, BP Marsh holds a 44.3 per cent stake in CBC, a retail and wholesale Lloyd's insurance broker, that has a carrying value of £4.9m, implying an equity value of £11m for CBC as a whole, or 11 times last year’s annual operating profit. But the directors has revealed that CBC’s cash profit is on target to increase by 40 per cent in 2019, the same rate of growth as in 2018. It’s not the only high-growth company that BP Marsh is invested in either. For instance, BP Marsh has a 20 per cent stake worth £6m in EC3 Brokers, an independent specialist Lloyd's broker and reinsurance broker. The business was founded by its current chief executive, Danny Driscoll, who led a management buyout to acquire EC3's book of business from AJ Gallagher in 2014. BP Marsh invested £5m in EC3 in December 2017, since when it has grown revenue from £9m to a forecast of almost £14m this year, while maintaining a good underlying profit margin. I also note that BP Marsh’s 40.5 per cent stake in Walsingham Motor Insurance, a niche UK fleet motor Managing General Agency, looks set for valuation uplift, too. The holding is in the books for £1.37m, implying an equity value of £3.3m. However, Walsingham has already generated £21.5m of premium income in the first 10 months of the 2019 financial year (£19.8m for the whole of 2018) and is expected to “report cash profits significantly ahead of the 2018 result (£0.6m)”. I could go on highlighting other portfolio companies that are set for a valuation upgrade, but I think I have made my point. Namely, the steep fall in BP Marsh’s share price since its annual results (‘BP Marsh posts record net asset value’, 11 June 2019) means that the shares are now trading on a 38 per cent discount to the company’s last reported NAV even though the board is guiding shareholders to expect a satisfactory first-half NAV performance. Markets are not working efficiently here. Shares in BP Marsh have produced a 175 per cent total return including the recently paid final dividend of 4.76p a share for the 2018-19 financial year since I first advised buying at 88p ('Hyper value small-cap buy', 22 Jan 2012), a performance driven by the strong investment performance of its holdings. I expect that outperformance to continue, making the deep share price discount to NAV not only anomalous, but well worth exploiting. Buy.
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