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Legal & General (LGEN)
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- Lemon Quarter
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Re: Legal & General (LGEN)
ive only had it 5 years , it has delivered very good dividends and increased in capital value.
thats all i want from a share .
its one of the few high yielding stocks left i feel reasonably confident in .
as mentioned in the IC tip, it is surprisingly cheap .
i would think the big institutions would be filling their boots , but it seems they aren't.
thats all i want from a share .
its one of the few high yielding stocks left i feel reasonably confident in .
as mentioned in the IC tip, it is surprisingly cheap .
i would think the big institutions would be filling their boots , but it seems they aren't.
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- Lemon Quarter
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Re: Legal & General (LGEN)
jackdaww wrote:ive only had it 5 years , it has delivered very good dividends and increased in capital value.
thats all i want from a share .
its one of the few high yielding stocks left i feel reasonably confident in .
as mentioned in the IC tip, it is surprisingly cheap .
i would think the big institutions would be filling their boots , but it seems they aren't.
I've held LGEN for almost as long, and as you say it has performed well in terms of dividends, though over the last few months my holding fell into negative territory (in terms of capital performance).
I believe insurers/asset managers are cyclical and have also been adversely affected by Brexit uncertainty. My 3 insurers/asset managers all jumped up on Friday when it looked like we might have a Brexit deal. I think the percentages were: LGEN up 8%. SLA up 5% and PRU up 4%, on the day, though they have fallen back today.
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- The full Lemon
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Re: Legal & General (LGEN)
General insurers are certainly cyclical but life insurers are much less so, and of course have a huge asset management business alongside, so I have never seen L & G as particularly cyclical. Traditional and active fund managers (like SLA and Schroders) have been having a hard time lately because of the rise of passive funds and have been forced into cutting fees to try to compete. L & G has probably been tarred with the same brush.
Dod
Dod
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- Lemon Quarter
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Re: Legal & General (LGEN)
L&G posted this Business Review yesterday:
https://www.investegate.co.uk/legal---3 ... 36378785T/
https://www.investegate.co.uk/legal---3 ... 36378785T/
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- The full Lemon
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Re: Legal & General (LGEN)
daveh wrote:L&G posted this Business Review yesterday:
https://www.investegate.co.uk/legal---3 ... 36378785T/
Thanks. Sounds good, (as is to be expected)
Dod
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- The full Lemon
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Re: Legal & General (LGEN)
Finals here; https://www.investegate.co.uk/legal---3 ... 00039172E/
Also on HYP Practical for HYPer chat.
Ian.
Also on HYP Practical for HYPer chat.
Ian.
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- Lemon Quarter
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Re: Legal & General (LGEN)
idpickering wrote:Finals here; https://www.investegate.co.uk/legal---3 ... 00039172E/
Also on HYP Practical for HYPer chat.
Ian.
The results look fine to me with a 7% dividend increase - exactly as expected. After an initial (puzzling) fall the SP is up - inline with the FT100.
The way LGEN's sp gyrates seems odd to me, but offers tinkering opportunities to those convinced of the company's virtues (as I am).
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- 2 Lemon pips
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Re: Legal & General (LGEN)
77ss wrote:idpickering wrote:Finals here; https://www.investegate.co.uk/legal---3 ... 00039172E/
Also on HYP Practical for HYPer chat.
Ian.
The results look fine to me with a 7% dividend increase - exactly as expected. After an initial (puzzling) fall the SP is up - inline with the FT100.
The way LGEN's sp gyrates seems odd to me, but offers tinkering opportunities to those convinced of the company's virtues (as I am).
Yes L&G are and have been a very steady outfit over the years.
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- Lemon Half
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Re: Legal & General (LGEN)
idpickering wrote:Finals here; https://www.investegate.co.uk/legal---3 ... 00039172E/
Also on HYP Practical for HYPer chat.
Ian.
and
https://www.investegate.co.uk/legal---3 ... 00089181E/
and
https://www.investegate.co.uk/legal---3 ... 00109182E/
for those wanting the full story.
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- Lemon Quarter
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Re: Legal & General (LGEN)
Stan wrote:77ss wrote:idpickering wrote:Finals here; https://www.investegate.co.uk/legal---3 ... 00039172E/
Also on HYP Practical for HYPer chat.
Ian.
The results look fine to me with a 7% dividend increase - exactly as expected. After an initial (puzzling) fall the SP is up - inline with the FT100.
The way LGEN's sp gyrates seems odd to me, but offers tinkering opportunities to those convinced of the company's virtues (as I am).
Yes L&G are and have been a very steady outfit over the years.
Well I do recall picking some up at about 27p in 2009, so not always steady! The market gets very very jittery about financials in times of economic uncertainty. Usually the panic has subsequently turned out to have been very much overdone (except for banks!)
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- 2 Lemon pips
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Re: Legal & General (LGEN)
scrumpyjack wrote:Stan wrote:77ss wrote:
The results look fine to me with a 7% dividend increase - exactly as expected. After an initial (puzzling) fall the SP is up - inline with the FT100.
The way LGEN's sp gyrates seems odd to me, but offers tinkering opportunities to those convinced of the company's virtues (as I am).
Yes L&G are and have been a very steady outfit over the years.
Well I do recall picking some up at about 27p in 2009, so not always steady! The market gets very very jittery about financials in times of economic uncertainty. Usually the panic has subsequently turned out to have been very much overdone (except for banks!)
There’s are exceptions to every rule.
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- Lemon Quarter
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Re: Legal & General (LGEN)
Welcome news!
LGEN confirms intention to pay the final dividend of 12.64p:
https://www.investegate.co.uk/legal---3 ... 49028004I/
LGEN confirms intention to pay the final dividend of 12.64p:
https://www.investegate.co.uk/legal---3 ... 49028004I/
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- Lemon Half
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- The full Lemon
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Re: Legal & General (LGEN)
ReallyVeryFoolish wrote:Perked up nicely this morning. A little bit more and it's the first investment I have that's not underwater.
I topped up last month, so 'cue smug mode'. lol. I'm at my maximum spend on them, so am unlikely to buy more currently.
Ian.
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- Lemon Pip
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- Lemon Half
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Re: Legal & General (LGEN)
SlickMongoose wrote:https://www.investegate.co.uk/legal---38--general-grp--lgen-/rns/strategy-company-ops-update/202004240855457891K/
Strategy update, all looks positive to me.
Interesting, at least to me, that they say in their insurance business (Life Assurance) that the effects of changes in mortality risk are "limited" as they re-insure that risk. That seems counterintuitive to me as they have a larger offsetting position in their Pensions and Annuities businesses. Maybe its just semantics on language of what "re-insure" means here.
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- Lemon Half
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Re: Legal & General (LGEN)
dealtn wrote: That seems counterintuitive to me as they have a larger offsetting position in their Pensions and Annuities businesses. Maybe its just semantics on language of what "re-insure" means here.
I don't think so. They are being cautious in their language about not immediately owning up to the profits they may make from the current crisis. In the context they've used it, reinsurance means that for a life assurance of £ 100,000, they have just kept £ 20,000 directly on their books (or whatever deals they've agreed)
Annuities offer two guarantees. One is longevity and the other rate of return. What they may gain on reduced longevity, they may lose on under-performing assets. They are unlikely to be holding equities against annuities in any material quantity, but lots of fixed interest outside of government bonds some of which may default.
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- Lemon Half
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Re: Legal & General (LGEN)
Alaric wrote:dealtn wrote: That seems counterintuitive to me as they have a larger offsetting position in their Pensions and Annuities businesses. Maybe its just semantics on language of what "re-insure" means here.
I don't think so. They are being cautious in their language about not immediately owning up to the profits they may make from the current crisis. In the context they've used it, reinsurance means that for a life assurance of £ 100,000, they have just kept £ 20,000 directly on their books (or whatever deals they've agreed)
Annuities offer two guarantees. One is longevity and the other rate of return. What they may gain on reduced longevity, they may lose on under-performing assets. They are unlikely to be holding equities against annuities in any material quantity, but lots of fixed interest outside of government bonds some of which may default.
Well I don't disagree that behind an annuity you will also have an "asset book" that funds it. But in my experience of running a business with multiple products, and multiple risks, I would be disaggregating the risks to be measured and managed separately. With the longevity book, an order of magnitude bigger than the Life Assurance one, I wouldn't be reinsuring any of that risk (80% in your example), unless it was with my own internal "other" business.
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- Lemon Half
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Re: Legal & General (LGEN)
dealtn wrote:But in my experience of running a business with multiple products, and multiple risks, I would be disaggregating the risks to be measured and managed separately.
I suspect the Legal & General management prefer a "silo" approach. I got the impression as well that they were looking to offload their life assurance business to a consolidator.
https://www.legalandgeneral.com/policytransfer/
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- Lemon Half
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Re: Legal & General (LGEN)
Alaric wrote:dealtn wrote:But in my experience of running a business with multiple products, and multiple risks, I would be disaggregating the risks to be measured and managed separately.
I suspect the Legal & General management prefer a "silo" approach. I got the impression as well that they were looking to offload their life assurance business to a consolidator.
https://www.legalandgeneral.com/policytransfer/
Well that makes sense. The Legal and General Life Assurance business could be re-insuring currently by selling its risk to Legal and General Pensions leaving ReAssure, the new owners, with a decision on whether to continue re-insuring, and with whom, in due course once that sale goes through.
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