Lancashire Share Discussion Threads

[jrphoenixw2] 01/8/2017 09:14

Ohhhh, I'd never heard of that before! Thank you very much for the explanation, learn something new etc. !

[gsbmba99] 01/8/2017 08:45

You are assuming the additional Invesco shares were all purchased on one day. They reached 16.67% on 12 April 17 and could have been accumulating since then. They only have to report when they cross a whole number. They could have had 16.99% for several months and bought a handful of shares to take them to 17%.

[jrphoenixw2] 31/7/2017 18:25

RNS out this pm -
Invesco upped their stake from 16.67% > 17.00% on Friday 28/7.
Shares in issue 200.4M
Position now +34.1M

Not sure how that didn't cross the public radar since +0.33%*200.4M = about +660k shares. But volume was under half that, 243k on Friday. Curiouser still, well to me, is how despite this purchase we closed tonight lower than Thursday before this purchase. Summer lull, sure, but apparently even a 17% stake can't excite the market... zzz

[gsbmba99] 28/7/2017 15:21

I particularly liked Maloney's response to the question about what would happen if premium contraction continued for several more years and the company was operating with a combined ratio in the 90s. His response was to say that, given LRE believe they have a 15-20% advantage over competitors, it would imply their competitors were operating at a combined ratio approaching 120% which wouldn't be sustainable. They also said they've increased reinsurance purchases for hurricane season versus last year and they are carrying a significant capital buffer. If there is a hurricane that causes significant insured losses, they will be relatively less hurt than others. But, for shareholders, it would likely mean no capital return and possibly a capital raise.

[speedsgh] 28/7/2017 08:22

gsbmba99 - Thanks for your summary. I would have to say that I agree with the CEO wholeheartedly that a serious cat loss is required to reverse the current situation. It's been a while since we've had one. And as often happens, when one does occur, you will probably find another 1 or 2 following in close succession which will really shake things up. As boring as it sounds, LRE's current strategy (focus on profits, not premiums) is spot on imo.

[11_percent] 28/7/2017 08:07

Goes down at the open......

I think it is going to make a high...

We are going to get taken out.

[gsbmba99] 27/7/2017 21:55

Webcast of today's results conference call ( ). Maloney frequently defending the company's strategy to focus on profits and not premiums. Still thinks there needs to be a serious cat loss for the market to reverse. Thinks industry as a whole operating at minimal profitability levels.

[jrphoenixw2] 27/7/2017 09:13

The offer-side must be pretty thin this morning. The 2-minute candle at circa 8.08am saw a spike from c. 744 > 772 on vol of under 30k.

+5.6% in the opening 10 minutes perked up my cornflakes no end, but was sadly short-lived. Glad I'm not looking to trade in size any time soon.

[jrphoenixw2] 27/7/2017 07:48

And finally - the next div:
'Lancashire announces that its Board of Directors has declared an interim dividend for 2017 of $0.05 per common share (approximately (£0.04) per common share at the current exchange rate), which will result in an aggregate payment of approximately $10 million. The dividend will be paid in Pounds Sterling on 6 September 2017 (the "Dividend Payment Date") to shareholders of record on 11 August 2017 (the "Record Date") using the £ / $ spot market exchange rate at 12 Noon London time on the Record Date.'

[jrphoenixw2] 26/7/2017 17:17

You can buy instruments that short whole London listed indices, hence without even considering individual FTSE listed stocks, each of them have shorts.

[11_percent] 26/7/2017 16:50

But it is bad that there any shorting.

[jrphoenixw2] 25/7/2017 13:24

The Standard article quotes Bloomberg data from 'June 2017'.

But looking at per GaryC^ suggests the Standard is incorrect, and there has been no material changes since June either.

[garycook] 25/7/2017 12:24

Speeds,By Shortracker LRE only have 4.51% of shares shorted has of today !

[speedsgh] 25/7/2017 11:09

Wasn't aware that (according to the table in this article) LRE had such a high level of short interest?

[speedsgh] 25/7/2017 11:04

Peel Hunt today reaffirms its add investment rating on Lancashire Holdings Ltd (LON:LRE) and raised its price target to 760p (from 725p).

[garycook] 23/7/2017 12:38

I would think that LRE generate more cash than BEZ,and HSX.Therefore more interest from investors in a possible T/0 target.But pure speculation atm.For me personally I would rather have LRE in my Portfolio,s for great income and growth,and not to be taken over.I recently sold out of BEZ,and would not be interested in owning HSX,because of poor income return.Better options elsewhere.

[garycook] 23/7/2017 10:39

11%,Best thing I did was sell out of ALY at 20p.What a good move that was.

[11_percent] 23/7/2017 08:42

Gary, I see ALY are now opening tea rooms.

[garycook] 23/7/2017 05:14

Jrp,Good Posts.11%,You may have been correct on ALY,but LRE,is a different proposition I believe you will be wrong,unless we get a correction in the current markets.To be honest I hope you are correct and the LRE share price goes back to 610p,because I can also add more.Looking on the LRE Website I see the all time high is 933p,and the Low 155p.I would put money on the LRE share price hitting £9,with a take over bid,but it will never return to 155p again ?

[jrphoenixw2] 22/7/2017 18:45

Well 'up here' because of that, plus also you might imagine the trailing yield of 9.76%. 610p would give a current yield of 11.83%. Perhaps I should be buying some more :)

[11_percent] 22/7/2017 18:29

At the moment, the share price is up here because of takeover possibility.

The shorts are betting this will not happen......and it revert back tp 610.