R&q Insurance Share Discussion Threads

[adam] 18/2/2011 18:49

we know who is selling. who is buying?

[labatie] 18/2/2011 15:35

Looks as tho the mkt is a mite short of this!

[envirovision] 18/2/2011 11:54

It can certainly move in lumps, lumps upwards is good for me.

[lord gnome] 18/2/2011 11:31

Looks like it's your last chance to buy these for under a quid.

[azalea] 18/2/2011 07:59

Late April

[labatie] 18/2/2011 07:12

I see the last half year report was on 18th August so we shd get some figures pretty soon.

Anyone know when by any chance?

[envirovision] 17/2/2011 16:05

Looks like Credit Suisse are out now whilst CQS are reducing.

I would estimate the free float is now around 10% of the company and that could increase to 15% if CQS want out.

[envirovision] 17/2/2011 16:00

Its on the web site so all you have to do is deduct the recent RNS figures


from the web site:
Kenneth Edward Randall...........39.00%
Alan Kevin Quilter...............8.70%
Numis Corporation PLC.............7.15%
Credit Suisse Group AG.............7.08%
CQS (UK) LLP.....................6.98%
Lehman Brothers International.......6.38%
Phoenix Asset Mgmt Ptnrs Ltd......5.52%
Mark Randall......................5.12%
Rensburg Fund Management Ltd......4.67%
Jo Mark Welman.....................0.13%
Kevin Paul McNamara...............0.07%

[lord gnome] 17/2/2011 15:28

Azalea:
Quote from Shares Mag write-up on RQIH in Vol 12 Issue41, dated 14 October 2010:

'The £49 million market cap's finance director Tom Booth says the shares are being held back by a number of large stakeholders seeking to exit the stock which trades at a 32% discount to its estimated net asset value.'

With all the PE buying recently, it looks like the free float is getting bigger. No bad thing in my book, but we'll just have to be patient until the big stock overhang has been absorbed. A good set of results and a bright forecast should do the trick.

[bisiboy] 15/2/2011 18:22

thanks azalea

[azalea] 15/2/2011 12:17

bisiboy
Why not email S.T. with your concern on cashflow. I have found him to be very helpful and prompt in his replies.

[envirovision] 15/2/2011 09:51

After a final two lots of 200K lots sold yesterday, it looks like the seller has cleared and credit swiss has taken them.

[bisiboy] 12/2/2011 13:26

i have been looking at these on and off for a year
havnt bought yet what is putting me off is cash flow
can anyone tell me if i am missing something but at an operating level it seams to be negative and has been for some time.
ST at the IC does often come up with some good tips and several of the other
companies in his 2011 bargain portfolio i own.
just not sure about R&Q

[red ninja] 11/2/2011 16:02

Bargain shares for 2011
Created:
11 February 2011
Written by:
Simon Thompson
Randall & Quilter (RQIH)
Aim: Insurance
Share price: 90.5p
Bid-offer spread: 90-91.5p
Market capitalisation: £50m
Website: www.rqih.com
Founded in 1992 by executive chairman and chief executive Ken Randall and finance director Alan Quilter, Randall & Quilter is a specialist in managing the run-off of insurance companies and Lloyd's of London syndicates that have stopped underwriting new contracts, but have already settled liabilities arising from policies written.
This is a huge market estimated to be worth nearly £30bn in the UK alone – accounting for 15 per cent of the non-life insurance market – and in excess of $500bn (£316bn) globally, according to research house Equity Development.
To date R&Q has managed the purchase of 17 companies, either for itself or for private equity firm Dukes Place, and currently has a portfolio of nine companies in run-off with net assets of £74m. This insurance investment business posted profits of £4.7m in the first half of last year, but the company also has an insurance services business, which generated £3.9m of profit in the first half. Its principal activities are claims management, accounting, regulatory returns and reinsurance management.
If you deduct central overheads and contributions from a couple of smaller divisions, R&Q reported pre-tax profits of £5.8m in the six-month period. On the same basis, analysts at Numis Securities are looking for pre-tax profits of around £7.3m for the year as a whole, rising to £7.8m in 2011. This should produce EPS of 9.2p and 9.8p, respectively, and fund a full-year dividend of 7.35p as well as offering scope to raise the payout to around 7.75p this year, as brokers predict. In other words, at 91p, the shares are currently offering a chunky forward 8.5 per cent yield – with the dividend covered 1.3 times by earnings – and are rated on a modest PE ratio of nine.
The investment case is even more compelling when you consider that £30m of the company's £80m net assets are in the price for nothing. On a bargain rating of 1.1, and with the high-yielding shares trading 37 per cent below book value of 146p, R&Q is significantly undervalued.

--------------------------------------------------------------------------------

[crawford] 11/2/2011 12:24

envirovision,
thanks for that.

[envirovision] 11/2/2011 11:46

I can buy £100,000 worth at 91.6p You are not looking at sells being printed at the moment.

[crawford] 11/2/2011 11:43

Quite a lot of sells coming in; ironically I've had this on my watchlist for the past week, the dividend having caught my eye while scanning The Times.

[labatie] 11/2/2011 11:21

Envirovision

Is it possible to post a link to the article please?

[envirovision] 11/2/2011 09:57

Tipped by Simon Thompson in Investors Chronicle as one of his Bargain Share of 2011 portfolio picks.

[labatie] 11/2/2011 08:35

This counts as panic buying in this one!

[envirovision] 11/2/2011 08:33

So i guess by the rash of buys first thing its been tipped ?