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
  +6.40p +0.99% 653.00p 653.20p 653.60p 654.20p 646.80p 648.40p 1,896,981 16:35:07
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonlife Insurance 7,105.0 448.0 26.3 24.8 6,733.72

RSA Insurance Share Discussion Threads

Showing 9376 to 9397 of 9400 messages
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DateSubjectAuthorDiscuss
10/4/2018
16:09
Goldman Sachs today reaffirms its buy investment rating on RSA Insurance Group and set its price target at 715p.
loganair
22/3/2018
07:40
Credit Suisse gives an 'Out Perform' rating on RSA with a target price of 730p.
loganair
05/3/2018
12:53
The Bank of England has recently acknowledged that quantitative easing (QE) has resulted in “material reduction in UK company dividends and investment spending”. The trouble is that QE drove down bond yields. In turn, that made pension deficits explode. (Put simply, if you’ve agreed to pay someone £100 a year, and interest rates are sitting at 10%, then you only need £1,000 sitting in the bank to generate that £100 a year. But if interest rates fall to 5%, then suddenly you need £2,000 to generate the same £100). As a result, companies had to divert money that could have gone on productive investment and higher dividend payouts, used it instead to fund artificially-exacerbated pension liabilities. Overall the deficit of the combined 6,000 defined-benefit pension schemes in the UK is thought to have grown “to around £300bn by 2015, more than 15% of annual GDP… At the same time as deficits have risen, investment has been subdued”.
loganair
23/2/2018
17:16
It seems to me, until some thing major happens, the share price of RSA is going to struggle to get above 700p and will likely trade side ways in the 600p to 700p range. 700p takes the share price back to where it was in 2011 and in old money, before the 1 to 5 share consolidation is only 140p, when years ago the share price was over 600p in old money or £30 in to days share price.
loganair
23/2/2018
14:30
RSA has been told only a full sale will get best value for shareholders and selling bits of the business is not now beneficial. Berenberg said today: ”The pension liability and loss of diversification benefits in its capital model mean disposing of any remaining operations is unlikely to be beneficial for RSA shareholders.” Berenberg said in its note that chief executive Stephen Hester had hinted RSA’s different parts of the business together, when compared to peers, meant a valuation of £8.50 on share price, valuing the company at £8.7bn. The firm is currently trading at £6.34, with a market capitalisation of £6.51bn. But Berenberg said Hester way of valuing the business - called sum-of-the-parts - was ‘likely unattainable without a bid forthcoming’. Elsewhere, Berenberg praised Hester’s transformation of the business and said it can double 2017 earnings to £540m by 2019, hitting an impressive combined ratio in the low 90s. The bank analysts at Berenberg said RSA can now concentrate on operational improvement. “All the boxes have been ticked; the balance sheet is in good order, leverage is at a suitable level; the company has a clear and rational footprint; and its operations are underwriting profitability,”; Berenberg said.
loganair
22/2/2018
12:54
By Alan Oscroft: I’ve always liked the FTSE 100‘s top insurance firms as long-term generators of wealth, and though I don’t own any RSA Insurance Group (LSE: RSA) shares (I hold Aviva currently), I rate it as among the best. Full-year results released Thursday show why, as the company boasted: “Premium income up 4% to £6.7 billion, combined ratio 94%, a new RSA record.“ RSA looks to be prospering under the leadership of Stephen Hester, who I rate as one of the Footsie’s top bosses (and whose surprise departure from Royal Bank of Scotland in 2013 was, in my opinion, bad news for the bank’s shareholders). Though underwriting figures in the UK were poor, excellent results from the firm’s overseas operations (particularly in Scandinavia and Canada) helped push underlying pre-tax profits up 12% to £620m, with overall underwriting profit up 4% to a record £380m. Premiums gained 4% to £6.7bn, though investment income dropped 10% to £331m, which RSA put down to “the impact of disposals and ongoing reinvestment at lower yields“. Dividend cash: The bottom line saw a 10% rise in underlying earnings per share (EPS), and the full-year dividend was lifted by 23% to 19.6p per share, yielding 3.2% on yesterday’s close of 613p. The shares rose 3% in early trading on Thursday to 632p. The dividend is the most important bottom line item to me, as I see big insurance firms as long-term income generators. And since Mr Hester’s arrival in 2014, the restructuring he put into place has boosted my confidence in its long-term viability. Earnings have been climbing steadily, and the dividend has bounced back from 2014’s troubled 2p per share. And with further EPS growth on the cards, the City predicts a dividend of 34p by 2019, to yield around 5.5%.
loganair
22/2/2018
12:49
Reflecting RSA's overall progress in 2017, a final dividend of 13.0p per share payable on the 18th May is proposed, making 19.6p per share total for 2017, up 23%. This represents a 45% payout of underlying EPS. Analysts at Bernstein said the UK segment had disappointed, but RSA seemed focused on turning it around. They reiterated their “market perform” rating.
loganair
25/10/2017
16:44
RSA Insurance got a boost as JPMorgan Cazenove upgraded the stock to 'overweight' from 'neutral' as it took a look at the UK non-life sector. The bank said its clear top pick in the sector is overweight-rated Direct Line, closely followed by RSA and then Hastings. It noted that RSA has underperformed in recent months, meaning the valuation is now attractive. "We believe the pricing backdrop in commercial lines may improve following recent natural catastrophe events, and with additional capital return likely to commence from FY18E, RSA's income credentials could be meaningfully improved." With relatively less upside to its valuations, the bank downgraded Admiral to 'neutral' from 'overweight' and Esure to 'underweight' from 'neutral'. It said Admiral's slower growth in the first half was due to a temporary competitive disadvantage and although this will be removed in January, it nevertheless could continue to weigh on growth in the second half. "With no obvious catalysts on the horizon, and only modest upside to our valuation, we move to neutral."
loganair
25/9/2017
16:50
RSA Insurance Group PLC Update ahead of investor meetings Intraday RSA Insurance Chart Intraday RSA Insurance Chart 25/09/2017 3:53pm UK Regulatory (RNS & others) TIDMRSA RNS Number : 7479R RSA Insurance Group PLC 25 September 2017 RSA Insurance Group plc 25 September 2017 Update ahead of investor meetings RSA will be meeting investors this week in connection with the Bank of America Merrill Lynch Annual Financials Conference. Trading results for the third quarter to date have been positive, consistent with prior trends, across the Company with the exception of the UK business segment. Here, catastrophe losses from the US, Caribbean and Mexico will impact September results in the marine and international portfolios. At present losses notified are well below reinsurance limits though the final position will take some weeks to emerge. Otherwise UK underlying results in the quarter continue to reflect the challenges visible in H1, against which underwriting actions are being taken. RSA will publish its Q3 Trading Update on November 2nd.
standish11
25/9/2017
16:14
What happened?
fenners66
30/8/2017
13:57
I have been reviewing whether to lighten up given recent share price strength; also wondered if were impacted by Houston but having gone through recent financial reports can find no evidence that they do business in the US-either on a primary or reinsurance basis. Is that the understanding of all of you? For now am holding
cerrito
27/8/2017
13:26
RBC CAPITAL RAISES RSA INSURANCE TO 'OUTPERFORM' ('SECTOR PERFORM') - TARGET 750p (625p) JPMORGAN RAISES RSA INSURANCE PRICE TARGET TO 700p (630p) - 'NEUTRAL'
loganair
25/8/2017
14:02
HSBC today reaffirms its buy investment rating on RSA Insurance Group(LON:RSA) and raised its price target to 745p.
loganair
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
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