Chesnara Share Discussion Threads

[petewy] 21/9/2023 10:37

Half year report was cheerful..

[lord gnome] 21/9/2023 08:07

Steady as she goes. Yawn….. Just the way I like it. Happy to collect and spend the dividends.

[wizzkid211] 21/9/2023 07:05

INTERIM DIVID INCREASED FOR THE 19TH CONSECUTIVE YEAR

The interim dividend of 8.36p per share is expected to be paid on 10 November 2023

[speedsgh] 11/9/2023 16:00

Indeed @MMD. I have a dividend of 23.98p pencilled in for the current FY. I make that a yield of around 8.8% at the current offer.

Still safely in profit with the majority of my holding having been purchased in 2011/12. That's before taking into account the dividends collected in the meantime. Happy to continue to have boring old CSN as a core holding in the income portfolio.

[mister md] 11/9/2023 14:15

edmundshaw - by my calculations the dividend yield here is also between 8-9 % ?

From final results: 'Proposed 3% increase to the full year dividend (total 2022 dividend of 23.28 p per share) '

[edmundshaw] 04/9/2023 21:40

I agree, I have done similar, but somehow Chesnara's dividend is not so enticing at the moment, with 8 to 10% yields available in a number of solid financial stocks. It is not that I feel Chesnara is weak, but I feel other investors may not be so keen, and also the FT100 is very low given growth and inflation, IMO it should be around 10,000. But a general correction of 35%+ upside might well not lift Chesnara up over £4, so other shares feel like there is more potential upside. I retain a holding here, but I don't feel the urge to add...

[1knocker] 03/9/2023 09:32

I usually have a limit order in to buy at about 270, and sell again at 300+, recouping my purchase cost and hanging on to my profit in 'free' shares. Over the years I have significantly increased my holding without increasing my capital committed (original purchase donkey's years ago at 179). My buy and sell (especially sell) limit figures vary a bit with the market, but since my initial purchase at 179 my averages on the round trips are 269 buy and 308 sell. So, with the benefit of the additional income from the 'free' shares, the dividends have now long since paid for the purchase of the holding. I have yet to find any other stock which suits the strategy so well as Chesnara. No huge round trip returns, but little and often is good enough for me.

I have no purchase order in at present though, despite the share price telling me it is buying time. The clever dodges to make returns when interest rates were on the floor for over a decade will have turned with a vengeance with rising interest rates, and it worries me that so few worms have come out of the woodwork as yet. Memories of 2008 die hard.

[phillis] 18/8/2023 10:58

Hmm
Not necessarily
Likely need to push the shares to a wider audience

[thebutler] 17/7/2023 09:55

Hmmmm ...... the appointment of a joint broker may suggest the possibility of a share placing. To raise funds for their acquisition strategy? Just imo.

[al101uk] 12/7/2023 18:37

Joined you, but missed the low, 271p for me... thanks for the message, I don't check the price here day to day anymore (or anywhere else to be honest) so wouldn't have noticed the low if advfn hadn't shown a new message on the thread :-)

[cassini] 12/7/2023 13:02

Added a few at 269.9p.

Barring any arising crises (which, to be fair, seem somewhat regular these days) this is about the bottom of the usual trading range for this share.

[makinbuks] 06/6/2023 11:03

I agree, indeed if macro conditions allow £3.20 is possible. Just look at Q3 last year

[topvest] 06/6/2023 10:52

I have added a few more. Boring but solid. Always seems to drift down to this sort of price post dividend. It will no doubt be back to £3 in coming months.

[mirandaj] 20/5/2023 18:36

"CEO Steve Murray takes Proactive's Stephen Gunnion through the company's acquisition of the onshore individual protection line of business from Canada Life UK.

The life and pensions consolidator said it had agreed to pay a consideration of £9mln as part of the reinsurance agreement, funded from its own cash, for the line, which was closed to new business in November 2022.

Murray said the deal marks Chesnara's fifth transaction in the last two years, reflecting a growing trend of M&A opportunities in the market. The company sees these smaller deals as an effective use of shareholder capital, offering attractive returns and minimal impact on solvency"

[makinbuks] 16/5/2023 14:30

Small deal, won't move the dial but I like the reinsurance idea which effectively means the deal happens now rather than when the formalities are completed

[wizzkid211] 16/5/2023 07:03

Chesnara plc, the European life and pensions consolidator, today announces it has reached an agreement with Canada Life Limited ("Canada Life UK") to acquire its onshore individual protection line of business, which was closed to new business in November 2022. As a result of the acquisition, the life insurance and critical illness policies for approximately 47,000 customers will transfer to Chesnara's UK subsidiary, Countrywide Assured plc ("Countrywide Assured").

[speedsgh] 04/5/2023 17:43

Chesnara plc: Strong cash generation through tough markets -

Chesnara plc is the topic of conversation when Dr Brian Moretta, analyst at Hardman & Co, talks us though his latest note entitled 'Great cashflow in tough markets'.

Brian takes us through the key points of the 2022 results, discusses the two sides to the results, updates us on the dividend, operations and an increased interest in acquisitions.

[brucie5] 26/4/2023 10:17

Depends what you're looking for. I see folios rather like football teams: you can have too many strikers!

[speedsgh] 18/4/2023 06:42

All fairly superficial but a bit of additional exposure all the same...



Hardman: High-yielding Chesnara looks undervalued

Recent annual results from Chesnara (CSN), the life insurance and pension consolidator, came in slightly below expectations but Hardman & Co remains positive on the cash-generative business it believes is undervalued.

Having completed three acquisitions, including Sanlam Life & Pension, the group increased cash by £82.7m last year, compared with £20.3m in 2021.

Pro forma group economic value fell to 354p per share from 416p the previous year, reflecting stock market declines, but the dividend as expected grew 3% to 23.3p per share.

Although volatile, the shares at 291p have traded sideways in the past year.

‘With a price at approximately 85% of its forecast economic value, Chesnara seems undervalued. A prospective dividend yield of 7.9%, with good prospects of continued growth, also suggests an undervalued stock,’ said Hardman’s analysts.

[makinbuks] 12/4/2023 15:12

Two comments from Hardman I particularly like:

"Chesnara is ready for further M&A" - yes and to be honest I'm surprised we haven't seen more from the new management

"the yield appears high for a dividend that is both secure and growing" - it was always thus and this remains the most attractive aspect of the stock, but don't expect the rating to change. If central banks cut rates through 2024 we may see a minor benefit