Share Name Share Symbol Market Type Share ISIN Share Description
RSA Insurance LSE:RSA London Ordinary Share GB00BKKMKR23 ORD GBP1.00
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +4.00p +0.61% 661.50p 661.50p 662.00p 662.00p 658.00p 659.50p 70,269 09:39:48
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonlife Insurance 6,857.0 101.0 1.8 367.5 6,765.15

RSA Insurance Share Discussion Threads

Showing 9376 to 9397 of 9400 messages
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DateSubjectAuthorDiscuss
02/8/2017
10:22
Barrie Cornes, analyst at Panmure which has a hold rating on the stock, said RSA's recent strong share price performance had cut the chances of an offer for the company after rival insurer Zurich (ZURN.S) abandoned a bid in 2015. RSA said it would pay an interim dividend of 6.6 pence, up 32 percent but below a forecast 7 pence. Hester told a media call the company was still on track to offer further cash to shareholders in 2018 through special dividends or share buybacks. "The dividend upgrade we forecast did not occur," KBW analysts said in a note, though they reiterated their outperform rating on the stock.
loganair
02/8/2017
09:27
Looks like that dividend yield is going to rise a bit today.
fenners66
02/8/2017
08:46
I would say the share price fall is more to do with profit taking as the shares have risen quite sharply over the past few months.
loganair
02/8/2017
08:28
At a quick glance, the results look good but obviously the market doesn't like them!
huttonr
19/7/2017
09:43
I think there is room for the dividend yield to rise here without necessarily a rise in the share price, after all traditionally the yield was higher than it is now.
fenners66
19/7/2017
09:24
If the reported 30% upside potential comes to fruition would mean a 200p increase in RSA current share price to between 800p and 850p in the next 12-18 months.
loganair
19/7/2017
08:40
RSA Insurance Group has performed a significant restructuring program following some fundamental issues a few years ago, streamlining its business, improved its operating performance and balance sheet. Additionally, RSA continues to reach or exceed its financial targets, which bode well for its future prospects. As restructuring is almost completed, RSA’s investment case should move towards income due to its very good dividend growth prospects. It has potential to become a high-dividend yield stock in the next few months, which may also lead to a re-rating of its shares. Geographically, the company has a diversified exposure, with operations in more than 20 countries. However, it is largely focused on the U.K. and some international Northern developed markets. The U.K. segment, including both commercial and personal products, account for 41% of RSA’s premiums, while other important markets are Scandinavia (27% of premiums) and Canada (23%). RSA is now considerably exposed to general insurance markets, which are relatively mature, consolidated and quite stable. This means that, generally speaking, these markets have good returns despite moderate economic growth because established players are usually more focused on profitability rather than volume. This is a recognition that pursuing aggressive growth initiatives in mature markets would likely lead to pricing wars, which ultimately result on lower profitability for the industry as a whole. Taking this into account, RSA targets growth mainly through improved business service and efficiency, such as initiatives to improve customer service and retention, as well as enhance its customer acquisition capabilities. Financially, it targets further underwriting improvement and cost reductions to reach higher earnings in the next few years. Its three core geographies should continue to generate the vast majority of its earnings, with the U.K. and Scandinavia targeted to represent about 80% of its profitability in the coming years. RSA’s recent strong growth is justified mainly by its operating performance, but currency gains were also positive due to the weakening British pound following the Brexit vote. Given that about 70% of RSA’s operating profit is generated outside of the U.K., a weaker currency is positive for its earnings generated abroad. Its return on tangible equity [RoTE] based on underlying earnings was 14.2%, a very good level of profitability and within its new target range of 13-17%, which was achieved one year earlier than expected and upgraded upwards (from RoTE target of 12-15% previously). RSA expects that 2017 should be much less affected by special items and be the last year of material one-off costs, which means that is adjusted and reported earnings should converge in the next couple of years and the difference should be irrelevant thereafter. During the first quarter of the year, RSA only released a ‘trading update’, which confirmed a robust performance, with key indicators continuing to show progress in its business fundamentals. Its net premiums were up by 4% at constant currency rates, being driven by the U.K. (+7% year-on-year) and Canada (+6% yoy), and its operating profit was ahead of its expectations. Going forward, RSA expected to achieve premium growth in the coming years, despite competitive markets across its core businesses. Its priority is to maintain underwriting discipline, which bodes well for its operating earnings sustainability. RSA’s current Solvency II ratio was 158% at the end of 2016, at the top of its target range of 130-160%. Its capitalization has been boosted by good profit generation, but also from balance sheet de-risking due to its disposals. The sale of its U.K. legacy liabilities improved the quality of its capital even further and represented a small boost to its Solvency II ratio, which the company used to buy back debt with high coupon rates. At the end of March 2017, its Solvency II ratio was 166%, which is in-line with its competitors, closing one of its main weak points over the past few years that was its relatively undercapitalization compared to peers. This marks another milestone on its restructuring path, leaving RSA as a properly capitalized insurance company. Additionally, its surplus capital position compared to its regulatory requirement of a Solvency II ratio above 100%, means that RSA doesn’t have regulatory constraints to distribute excess cash to shareholders and should be able to offer an attractive shareholder remuneration policy in the next few years. Based on underlying earnings, its dividend payout ratio was conservative in the past year, given that RSA distributed only 41% of earnings. Its dividend policy is for a payout between 40-50%, plus ‘special’; dividends on a discretionary basis. This seems conservative given that its peers Admiral and Direct Line distribute close to 100% of its earnings to shareholders, showing that RSA has a lot of room to distribute more cash to shareholders. Indeed, according to analysts’ estimates, RSA should deliver solid dividend growth at about 25% per year in the next three years. Its dividend is expected to be about £0.31 ($0.40) per share by 2019, almost double compared to its most recent annual dividend. Despite its good dividend growth expectations, RSA’s dividend payout ratio is expected to increase only to about 55% during the next three years, a level that seems conservative given the company’s strong capitalization and low need to retain earnings. Conclusion: RSA has undergone a significant restructuring of its business over the past few years, which is now almost completed. The company is now in a much more solid position, from an operating and balance sheet standpoint boding well for its growth prospects. Therefore, its investment case should change in the next few months, from a self-help story to an income stock. RSA has very good dividend growth prospects, assuming its conservative payout policy, with plenty of upside to beat expectations due to its good fundamentals and strong capitalization. RSA currently trades at 1.84x book value, representing a valuation discount to its closest peers, which trade on average at about 2.50x book value. This valuation seems to be unwarranted because it reflects more its past performance rather than its improving fundamentals and prospects of becoming a high-dividend yielder in the next couple of years. RSA is currently expected to distribute about 55% of its earnings to shareholders during the next three years, but the company can easily beat these estimates. If RSA becomes a little more aggressive and decides to increase its payout to 70%, which is sustainable given that it doesn’t need to retain earnings going forward, this would lead to a dividend yield of about 5.5%. This would be above the yield of its peer group and possibly would be a positive catalyst for a re-rating of its shares. If RSA’s valuation moves closer to its peers’ average, it has more than 30% upside potential in the next 12-18 months, making it quite attractive from an income perspective and potential capital gains as well.
loganair
14/6/2017
10:37
HSBC today reaffirms its buy investment rating on RSA Insurance Group PLC (LON:RSA) and raised its price target to 715p.
loganair
12/5/2017
10:21
I am glad I exercised patience and believed in Hestor. I wouldn't say I am making a mint, but I am comfortably in profit. :-)
hyden
12/5/2017
10:05
Still making a mint on this one.
sefton1
12/5/2017
10:00
Georgina Hamilton, who jointly runs Polar Capital UK Value Opportunities fund, has revealed why she thinks RSA shares are ‘good value’, despite the shares having performed particularly well. The fund manager commented that Hester, ‘has done a great job of turning the company’s performance around. The market had a lot of faith in Hester, so the shares raced ahead, before the progress had really been made, and were not value then. But the progress is happening, the returns from the company have justified the valuation, and returns are still improving and so the shares trade on a good valuation on that basis. The turnaround was done well, he sold the divisions he should have been selling, and maybe the stock has been forgotten about a little. It is certainly an interesting investment. There is a lot of visibility about where the earnings will come from in the future, which is something we like, and the balance sheet is strong.’
loganair
12/5/2017
09:58
JP Morgan Cazenove today has raised its price target on RSA Insurance to 630p (from 585p) while Goldman Sachs raised its price target to 685p (from 665p). With the good progress made in the first three months of the year, together with confident management stated "key proof points for further progress coming through positively", Beaufort reiterates its Buy rating on the Shares. The shares are valued at FY2017E and FY2018E P/E multiples of 14.4x and 12.4x and dividend yields of 3.3% and 4.6%, respectively. The insurer also managed to reduce its interest bill by around £60m each year. Hester said this equated to giving investors a boost 6p per share. He added: "Last year we made 39p a share, so it’s quite material.”
loganair
17/3/2017
12:57
Making a mint here so far.
sefton1
23/2/2017
10:04
Barrie Cornes, an analyst at Panmure Gordon exercised caution about this morning's further jump in the share price. He said: We like what Stephen Hester is doing at RSA... but, in our view, this good news is now all in the share price.
loganair
23/2/2017
08:59
Final Dividend 11p. Ex.....02 March Paid...12 May
loganair
14/2/2017
12:43
Well I sold at 600, we shall see if that was wise or not in about 9 days!
wobaguk
08/2/2017
10:15
"We expect the additional capital released to be used to pay down expensive debt thus increasing earnings per share in the future and [thus] improving the dividend story," This is obviously encouraging, but if I read the release correctly, didnt they pay almost £1B to offload this, so does that suggest the upcoming FY results might not look that good, with the benefit coming over the next year or so. Im contemplating selling, and buying back post results.
wobaguk
08/2/2017
09:15
So expect 10% + rise in earnings then based on currency.
fenners66
08/2/2017
09:02
Analyst Barrie Cornes at Panmure Gordon said the deal was good news for shareholders "as it removes a book of 'nasties' and has a positive impact on financials". "We expect the additional capital released to be used to pay down expensive debt thus increasing earnings per share in the future and [thus] improving the dividend story," he added. RSA said it has benefitted from the drop in the fall in the value of the pound by some 16% since the June Brexit vote, and expected a boost in operating earnings for the tax year. Over two-thirds of the company's profits are generated overseas.
loganair
08/2/2017
08:28
Market seems to like the latest deal.
fenners66
02/2/2017
08:50
Canaccord Genuity today reaffirms its hold investment rating on RSA Insurance Group (LON:RSA) and raised its price target to 600p (from 475p).
loganair
27/1/2017
18:14
I've taken the opportunity to sell today. To have made a 10% profit before dividends on this near disastrous investment is a wonderful result. Too marginal a business to warrant investment long-term. Good luck to those that remain.
topvest
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