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CSN Chesnara Plc

249.50
0.50 (0.20%)
21 Jun 2024 - Closed
Delayed by 15 minutes
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
  0.50 0.20% 249.50 249.00 250.00 251.50 248.00 250.00 86,909 16:35:27
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Life Insurance 488.8M 18.7M 0.1239 20.10 375.88M
Chesnara Plc is listed in the Life Insurance sector of the London Stock Exchange with ticker CSN. The last closing price for Chesnara was 249p. Over the last year, Chesnara shares have traded in a share price range of 246.00p to 289.50p.

Chesnara currently has 150,954,119 shares in issue. The market capitalisation of Chesnara is £375.88 million. Chesnara has a price to earnings ratio (PE ratio) of 20.10.

Chesnara Share Discussion Threads

Showing 2001 to 2025 of 2625 messages
Chat Pages: Latest  81  80  79  78  77  76  75  74  73  72  71  70  Older
DateSubjectAuthorDiscuss
19/6/2021
11:48
Sell at 261p of ~80,000 went through yesterday at 4:35pm? (Num 170)
pvb
19/6/2021
11:37
Any reason for the big drop yday.
petewy
02/6/2021
10:22
Perhaps in his retirement he'll see this as an ideal income stock! Why sell?
makinbuks
02/6/2021
08:07
John Deane's activity in the open market whilst he has been at the helm of the company has been limited. According to the 2020 Annual Report he held 131,066 shares as at 31/12/20 (unchanged over the previous 12 months despite the large Covid-indiced sell-off). He was then awarded 197,518 shares at nil cost in April this year as part of the company's STIP/LTIP. So by my calculation his current holding is 328,584 shares, worth £900k+ at the current share price.
speedsgh
02/6/2021
07:01
But Tudes, Eamonn Flanagan is a man of considerable relevant experience and expertise in insurance and capital markets generally.
His £80,000 share purchase is, I'd say, significant.

A recent dearth of other director buys is a bit concerning,I agree. And it may be that john Deane's retirement will lead to some selling from him.

jonwig
02/6/2021
01:18
Sept 20 Director buy was from a newly appointed NED, if you are using this as an indicator of likely improving performance I admire your optimism.
tudes100
02/6/2021
00:39
True, but I did qualify the 'recently' with 'relatively'. I guess the main point was that a couple of them were quite significant and at around the current price level.
bluemango
02/6/2021
00:32
Which director buys are you referencing ? I can't see any since Sept 2020 ?
tudes100
01/6/2021
08:45
Done the deed.

Switched from the newly recovered but low yielding TMPL IT, to this. Couldn't resist the juicy more than doubling in income from the new holding compared to old.

Apart from the other factors, what swayed it in the end was that smattering of relatively recent director buys; two of them quite significant. Plus the chart looks interesting; I think the range has been narrowing; most evident looking at the 3 year chart. Given the formation as a whole, starting Spring 2020, this can sometimes end in breakout; hopefully northwards.

bluemango
31/5/2021
09:05
Thanks jonwig.

The Peel Hunt 290p fair value is from 2 years ago - maybe they'd adjust it upwards by now.

(Edit: for those wondering where the £637m 424p/sh 'economic value' comes from, it's in the 12th May directorate change RNS)

bluemango
31/5/2021
07:58
It's the same problem described by PHNX - existing policies go into run-off, and new investments are needed to maintain the momentum. PHNX has done this in spades. CSN hasn't been able to (smaller size) or willing to (less willing to raise equity). Seems to make one smallish acquisition each year.

The company says its "economic value" is £637m (424p/sh) which is hard to square with PH's fair value of 290p, even though they probably measure quite different things.

jonwig
30/5/2021
18:48
Anyone got any comment on this Peel Hunt note from a couple of years ago? Admittedly they've made acquisitions since, but it's slightly concerning to read the expectation of 'flat dividends after 2023', which is somewhat at variance from company statements talking about continuing dividend growth. Of course given the current high yield, so long as the capital held its value, a flat dividend at or above the current level after 2023 (or at least keeping up with RPI) would not necessarily be a bad thing ...

One thing I've been impressed with (other than the excellent yield), is the three different NED buys over the last year or so; quite hefty amounts.

bluemango
30/5/2021
18:33
sector rotation out of financials and into commodity stocks
chairman2
30/5/2021
15:54
My understanding is that SLA, the company, is not selling CSN, but some of its funds (under SL Investments Limited and Aberdeen Asset) are, presumably to match outflows or (worryingly) because they see better opportunities elsewhere. I don't imagine the proceeds will be available to help fund their share buybacks.

Only guessing, though.

thamestrader
30/5/2021
15:24
SLA probably selling CSN to get more funds , with which to buy their own shares with , cos that is going so.... well.......
fenners66
30/5/2021
13:28
Thanks. I must say the lack of dividend cover is a bit of a dampener, compared to e.g. PHNX's 1.93.

Is CSN still seen as a potential takeover target for PHNX?

Regarding the reducing holding by SLA, arguably that creates a temporary buying opportunity, but I'd be curious about any known strategic reason for their action.

bluemango
30/5/2021
12:25
I've had one tranche of CSN continuously since July '19, which has lost 9.6% (even after dividends), but I have also traded several other tranches all of which have been profitable, some of which I still have. Thanks purely to the divi I have a nice overall profit, without the divi I would show a loss on most of them.

I note the latest divi is covered only 0.6x, but this hasn't always been the case, and hopefully it is temporary. The fact they increased the divi, despite its not being fully covered, suggests to me they are confident it is indeed temporary. Here's what the last report said in the subject.....

SHAREHOLDER DIVIDEND INCREASE

Prudent financial management and solid results mean we have been able to maintain our dividend model and increase the dividend payment in 2020 by 3%. Importantly, this has been done without compromising the financial stability of group. The post dividend group solvency ratio has increased slightly to 156% (31 December 2019: 155%) and the closing Chesnara cash balance remains healthy at £59.9m (31 December 2019: £75.5m) having repaid debt of £15.4m in the year.

and later.....

3% INCREASE IN FINAL DIVIDEND

The results support the continued growth of the final dividend to 14.29p per share (2019 final: 13.87p per share) ), resulting in a 3% increase in the total full year dividend to 21.94p per share (2019 full year: 21.30p per share). This constitutes the 16th consecutive annual dividend increase for shareholders.

thamestrader
30/5/2021
11:10
Likewise... Recently bought PHNX and that has led me to CSNIf anyone has followed CSN for a while, I'd be interested to read your thoughts on how safe the dividend is. Seems pretty safe to me, but I'm no expert on the company as yet.
gateside
30/5/2021
09:21
Morning guys.

Could someone tell me if there's any known rationale for SLA's gradual reducing their holding which seems to have kicked off after October? Presumably this is what's keeping the price down, given the high yield?

And secondly, any honest opinions please on how sustainable the dividend and capital preservation are both seen as, looking ahead to say a ten year horizon? Many thanks. Already hold PHNX which is what brought me here.

bluemango
28/5/2021
17:39
Slow bleed as Standard Life sells down. Never seem to be any large blocks changing hands so they must be dribbling it out. 4.2 million shares in nearly 6 months and depending on their intentions possibly another 20 million plus to go...
elsa7878
27/5/2021
08:51
I'm with HL, and it was paid on the 24th
thamestrader
27/5/2021
08:15
Just checked my HL account and nothing in there yet.
mrphil
26/5/2021
11:07
Mines been paid
dosser50
26/5/2021
10:42
still waiting on my dividend being paid into my Halifax account, they have been a bit slow lately with dividend payments, DLG dividend was 3 days late. Not a big deal as they land in the account eventually.

wllm :)

wllmherk
13/5/2021
12:32
pretty impressive plan for the
changeover.

I dont underestimate the key role
that John Deane has played keeping
this share financially secure.

chairman2
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