Lancashire Share Discussion Threads

[jrphoenixw2] 04/5/2017 07:12

Gapped lower on the open @ 681.5 vs 694.5 close last night, but at 8.10am is: 708.50 +14.00 (2.02%)
Results looked pretty underwhelming to me...

[jrphoenixw2] 21/4/2017 09:36

Up 3% intra-day at 711.
I can't find anything yet helps explain what is behind this...

Edit/add: Only thing I later found was some chat re: 'AGM and Earnings next week, and no material insurable losses having recently been reported'.

[jrphoenixw2] 19/4/2017 07:04

I believe you might have misread the RNS, and if so I agree they are not exactly straight-forward to interpret. As I see it they sold c1,025,000 shares.

[garycook] 19/4/2017 06:29

Invesco have increased there holding,s in LRE to 16.67%

[11_percent] 14/4/2017 22:51

No.
This is normal for this share.

[mister md] 14/4/2017 07:41

Odey nice contrarian indicator. Buy buy buy.

[jrphoenixw2] 14/4/2017 07:39

I've done a general news trawl and can't find anything. Also when journos write their late pm 'Top risers/fallers today' columns it seems they take a cut off time of perhaps c3pm, research the candidates for some time, then publish their articles around the close. And given the late surge in LRE yesterday, it looks like it didn't make the sift for comment.

Meanwhile on Shorttracker I was reminded of Odey's last trade, increasing his short; hope the price action yesterday won't hang too heavily for him this easter - bwahahaha!

ODEY ASSET MANAGEMENT LLP 0.97% ↑ 0.12% 2017-03-20
hxxp://shorttracker.co.uk/company/GB00B02L3W35/all

[garycook] 14/4/2017 03:31

Yes nice rise.I would like to know why,but oversold anyway.

[jrphoenixw2] 13/4/2017 18:32

+4.22% on the day, +4.62% on the week
vs say [simple, though loose comparison] FTSE-100 -0.29% on the day -0.30% on the week

And no news headlines.... yet, hmmm.

[garycook] 08/4/2017 07:03

I also own BEZ,DLG,and PHNX,all in the same boat atm,but all good companies,and will all recover BEZ 450,DLG 400,and PHNX 800 plus.ESUR,has performed well since letting go of GOCO.

[wllmherk] 08/4/2017 06:46

thanks Gary, I;m heavily weighted towards insurers, I also hold PHNX, DLG and ESUR with the latter being the stand out performer.

wllm

[garycook] 08/4/2017 06:41

Yes Insurer,s beaten down of late.I would wait for around £6,but LRE may not get that low.So a top up at 630 should and may come.The low Friday was 638.

[wllmherk] 08/4/2017 06:31

This has been steadily falling these last few weeks for no apparent reason, I hold quite a few at 701p so looking to average down closer to 650p, I need further falls to
around 630p to achieve that. I like LRE, especially the regular specials and of course there is always the perennial take over chatter.


wllm

[jrphoenixw2] 01/4/2017 07:44

Per RNS TR-1 Notifications:
Invesco on Wednesday sold -240k taking their position to +35.9m.
A trim of 0.66%; perhaps US quarter-end rebalancing?

I was looking at the px/volume graph to try and see what it did to the price, but there are no obvious volume spikes on that day, so presumably it was trickled in.
For ref I'm looking at Google/Finance at this URL [don't know if the URL can be used by others, since I'm not logged-in or anything, or whether it's unique to my current 'session'].

I also noticed a spike in volume into the close on Friday. The 2-minute candle at 4.06pm rises 670>673.5 on volume of +130k. That was the highest volume 2-min candle all week. Google shows for Friday: 'Vol/Avg[30-day]. 675,149/424,656'. So another way of looking at it is, that 2-min candle volume represents 30% of the past months average daily volume. Someone sees value, that said if the biggest 2-min volume all week doesn't even exceed £1m cost, it reminds you what the low-volume backwaters of the FTSE-250 are like.

[jrphoenixw2] 25/3/2017 09:18

I now have the actual rate per Interactive Brokers, [same as GSB^ indicated]. The final Sterling figure only appears on their statements when the payment is made. They list it as [10cents>] 7.963370p. So the £/US$ rate applied was 1.25575
So on the Record-day Yahoo and DailyFX at 1.2552 were closest, same as with the previous div. They also have the px/time granularity on their intra-day charts if you aren't around at precisely noon-R/D, i.e. you can drill-down to the noon rate for the rest of that business day.

[jrphoenixw2] 22/3/2017 14:55

Last time I checked my statement at Interactive Brokers [20/3] they had the accrual at 8.06731p. But from past divs IB do not apply the FX fix rate set at noon on the Record-Date, rather they continue MTMing it right up until the Pay Date - annoying.
So maybe you're right GSB, just ensure your broker doesn't similarly MTM the FX rate, before going out and spending it ;)

[gsbmba99] 22/3/2017 14:23

Final dividend showing in my account as 7.96337p per share.

[jrphoenixw2] 21/3/2017 15:45

Sure, the 'special' is underwriting/claims contingency held in case of claims for major losses. Get a major hurricane, oil rig disaster or similar, and first step might be checking LREs underwriting exposure [if any].
So it follows that if there are no such major claims during a reporting year, then they have excess capital on their books which they return to shareholders.

[gsbmba99] 21/3/2017 10:14

There's a useful overview of the capital allocation and return process over the course of the year on slide 18 of the Autumn 2016 investor day presentation. ( The slide suggests that the ability to pay a special dividend is dependent in part on performance during hurricane season.

[jrphoenixw2] 15/3/2017 06:36

Thanks for^, noted.
Meanwhile as I have it open here is the Notice of AGM for 3-May.
hxxp://tools.morningstar.co.uk/tsweu6nqxu/globaldocuments/document/documentHandler.ashx?DocumentId=129165804

[speedsgh] 14/3/2017 13:59

Don't really make anything of it. Going by what has happened previously, no info relating to 2017 dividend payments will be released until Q2 Results currently scheduled for 27 July. Bearing in mind that the core interim & final dividends are fixed at USD 0.05 & UDS 0.10 respectively, the next interesting news re dividends will not be until Q3 Results in Nov, although there may be some gentle indicators contained within Half Year (Q2) results.

[jrphoenixw2] 14/3/2017 13:40

Thanks for the above, so what do you make of this from Stockopedia?:

'Upcoming LRE Events
Wednesday 3rd May, 2017
Lancashire Holdings Ltd Annual Shareholders Meeting
Thursday 4th May, 2017
Q1 2017 Lancashire Holdings Ltd Earnings Release
Thursday 27th July, 2017
Q2 2017 Lancashire Holdings Ltd Earnings Release
hxxp://www.stockopedia.com/share-prices/lancashire-holdings-LON:LRE/

[speedsgh] 14/3/2017 13:12

jrp - Think you are getting confused?

The next dividend payable will be the interim dividend (paid in Aug/Sep). This is announced in the Half Year Results which are usually released at the end of July. As per 2016 Interims -

Then, if payable, the first special dividend (paid Dec) is announced in the Q3 Results which are usually released at the start of Nov. As per Q3 Results 2016 -

And then the final dividend - and any second special dividend, if declared - are paid in Mar/Apr. Details of this are announced in the Final Results which are usually released in Feb. As per the most recent Final Results for 2016 -

Any dividend information contained within the Q1 Results is usually historical & refers back to the dividend already announced in the Final Results and which, by the time of the Q1 Results, will have already been paid. For example, from last year's Q1 Results :
"During the first quarter of 2016, the Lancashire Board of Directors declared a final dividend in respect of 2015 of $0.10 (£0.07) per common share. The dividends, totalling $19.8 million, were paid on 23 March 2016 to shareholders of record on 26 February 2016.
The Group will continue to review the appropriate level and composition of capital for the Group with the intention of managing capital to enhance risk-adjusted returns on equity."
See

Aimho