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Guys this looks undervalued so me so bought into both my SIPP and ISA yesterday at 808p
Was pleasantly surprised not to be charged any stamp duty on either transaction. Does anyone know why this wasn’t payable?
In my opinion, when the market realises the potential and positive trading statement, this will be steadily moving, peaking around or above 1000p very soon.
Amazing trading update, growth in all areas - UK, US, Europe. No nasty surprises either and cherry on top, dividend may be back in 3 months hopefully. Should be good for my 1000p target!
I am still heavily invested here. 5 May update will hopefully lift us to my 1000p target.
It is targeting 880.0p for Lancashire, suggesting a 34% total return potential; 410p for Beazley, suggesting 30% total return potential; and 920p for Hiscox, suggesting 15% total return potential.
Bought 1647 shares @ 822.27...target £9.00 plus short term.
GLA
hellyeah, It is exactly a month ago (when the sp was 814.20) you said we will be 1000p (£10). But I could see just 10p up and we are still hovering around the same place.
Markets are markets, we can't control it. But, with business coming back to feet I slowly I see this to get moving UP soon.
In my opinion, £9 to £9.50 anytime soon (possibly in a months time!???) hmmm who knows..
this is a great play - bought in as well
I also made 3 buys in past 2 weeks, this is an insurance giant on the way to strong recovery as UK market conditions improve. Should be back to 1300p by end of the year IMO!
I have made 2 buys in past two days, its a no brainer to me. Should head back to 1000p in a month's time. Its a strong business!
Near current levels?.
It is gone low to the Sep 2020 level and bit silent here. Hope MM's make some action, get things moving to make it better.
It looks the Hiscox management started taking things serious and started working....
New appointment for Head of direct commercial... Fingers crossed, hope we don't go any more down!
Most of the shares are started moving upwards.... We need some more vaccine success, lockdown easing, businesses back to normal news....... Overall, it is not as scary as we all think for now!?
fingers crossed
Fingers crossed...
Am I reading that correctly... At a price of 935p those 2 x £3m purchases must have been made first thing. Someone's lost the best part of a half a million quid today if they've spent £10m at an average of 910p.
Those late reported trades are impressive, over £10m worth of buys. Clearly some.people think this is undervalued
I'm uncertain on next movements, but I'll be keeping an eye out to see if there is a decent entry price (I don't think we are there yet). I see Beazley as a better option out of the 2 businesses at the moment as it is likely to return to profit sooner.
As a business, Hiscox still a lot of work to do. It built a great reputation by providing first class service and adopting a positive approach to paying claims. Both of those have been shot over the last couple of years.
They could do with taking on some more underwriters and quickly settling the Covid claims which they are on for so they can move on. I also think some of the book still needs to be reunderwritten.
There's so much M&A activity in the insurance market at the moment, could Hiscox become a target?
I think the market is overreacting and the news is already factored in the price. Hiscox is targeting a combined ratio of 90% to 95% to be reached in 2023. I calculate that to be at least 500M profit.
A fair price is £9.50 IMHO, but let's wait for broker re-rating
In my opinion, this seems to have high chances of falling below 800p (maybe deeper to 750p) before recovering up. Lets see!
Fairly obvious which way this would go which the Market had already sussed. Just remains to be seem what damage to their reputation this has done....suspect very little, but they may wish to modify some of their Advertisements !
Boom! and up we go!!!
...and no discernable change after the judgement either. Has everyone taken Tueday off? Or was this decision already priced in?
They're "handing down" their judgement today, See FCA page in the links below...
Interesting that there is no price change ahead of it...
His judgement cometh and that right soon.
p.s. fortunately I'm not their shareholder, only business client.
gla.
With this new report published and FCA case + provisions related to it - it obviously will easily withstand storm even if they pay covid crisis claim associated costs (provision, at the expense of shareholders/equity of course) from stability pov but nonetheless company is uninvestible from eps perspective as long as sp stays above £3~£4 because of too low return on investment.
Didn't bother to comment on this at first but seeing as no-one else has (and pretty much no-one has posted anything for ages...) The Lloyd's figure might well be described as "coughing up" figure and indeed Hiscox have already said that they expect a hit of some sort.
Anyway, the link is correct but has nothing to do with the "no damage BI claims" which are the real bone of contention. There's some very interesting stuff on the FCA website with everyone setting out their case and their defences on that issue.
https://www.fca.org.uk/firms/business-interruption-insurance
Hiscox seem to be saying "forget what the contract said and look at what the contract meant (by looking at what it didn't say)". I don't think that's how contract law works but it's certainly not something I know very much about.
Based on what I can see there, it sounds like Hiscox are probably right but the question is how much damage (if any) have they done to their reputation.
Whatever happens it's all very interesting.
Be lucky.