Chesnara Share Discussion Threads

[this_is_me] 18/8/2009 13:30

My info was that the forecast was for 17.28p for the FY09 making a current yield of 10.4% or 13.5% at my buying price.

[jonwig] 18/8/2009 12:17

Current broker forecasts are for a FY divi of around 16p but uncovered by earnings of just under that.
That doesn't really matter, of course, because eps are a poor guide to underlying performance in this case.

It's possible the share price is being helped by merger activity in the life assurance sector.

[kirbydon] 18/8/2009 12:02

yes very.Up go,s the price,up go,s the Divi

[banj] 17/8/2009 09:52

Nicce :-))

[topvest] 07/8/2009 07:42

Agreed. Chesnara was a great investment for those of us who invested 6m or so ago. Nice solid company.

[this_is_me] 05/8/2009 07:54

A rising share price is nice, particularly after locking in the yield at lower levels!

[chairman2] 04/8/2009 15:28

I prefer a share thats as steady as a rock!!

[milton rooms] 29/7/2009 15:23

A breakout must be soon!

[chairman2] 03/7/2009 19:41

it must be income fiends chasing the yield

[mctmct] 02/7/2009 16:54

The recent price movement looks like a chart breakout, if you follow these things. And a 12 month high.

I wish the rest of my portfolio was doing as well.

[robsy2] 23/6/2009 09:03

Agreed. Understandably the directors simply want the party to continue.In fairness they have shown restraint when others have been rash so we are well positioned . Operationally they have subcontracted the operational side out, which seems sensible.Going forward we will see how cheap the new business is. I suspect unexpected operational challenges lie ahead(no particular intuition here just the fact that thats the way business is) but there could also be some exceptional pluses as well. On balance their reputation to date means I'll stay put .At 145p these shares do not seem overpriced and what I like is that the embedded value is calculated regularly so you kind of know where you are at all times.

[chairman2] 22/6/2009 20:04

I agree 100%...

but the signs are there that management are beginning to fret that
as a pure run off Chesnara earnings will peak - hence the willingness
to look at active ongoing cash flow business. I just didnt know it
was that close

[robsy2] 22/6/2009 17:18

Sounds like you know something! The only small doubt I have about the new book of business they have bought is that it is a live book of business rather than a closed book. This presumably will be more difficult to manage and will take them into operational and geographical areas that they have less or zero experience . It seems they got the business at a good price but the risk of the business overall has increased and that is a negative.
BTW I am a holder

[chairman2] 22/6/2009 13:20

must be about time for another deal??

[jonwig] 31/5/2009 10:00

Thanks for that, Hyden.

Andy Brough is always interesting (he's on Bloomberg a lot), but I think he's wrong in implying that Chesnara's dozen employees are busy administering closed book policies. In fact, just about all CSN's work is outsourced.

Anyway, it's good to have CSN get a mention!

[hyden] 31/5/2009 08:51

Positive write up in this is money

[jonwig] 19/5/2009 18:29

IMS pretty predictable - Collins Stewart says BUY with 165p target.

[luderitz] 11/5/2009 10:46

Market down CSN up, a coincidence? probably in a sector being seen as a defensive ie Insurance/Assurance.

Q. For CSN regulars, has the above usually happened in the past?

[jonwig] 07/5/2009 07:44

Yes, and may explain why the share price isn't quite a bit higher. The equity rally, continuing low gilt yields and prospects of a couple more acquisitions ought to have sent it up a fair bit.

[luderitz] 06/5/2009 16:30

So that's why the volume was up yesterday.

[luderitz] 05/5/2009 11:42

172,000 average 3 month volume on these, but today it's 700,000+ already as 11.40 am.I know the ft100 is well up today but..Something cooking perhaps?

[jonwig] 20/4/2009 08:41

This calculation can't be far out:

Old EEV = 180p x 101.5m shs ...... = £182.7m
plus acquisition £20.1m ÷ 0.37 ... = £ 54.3m
minus cost of acquisition ........ = £ 20.1m

giving new EEV ................... = £216.9m = 214p/sh.

[banj] 19/4/2009 04:42

Agreed, well done management. Staying with this one :-)