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Re: Legal & General (LGEN)
Posted: January 7th, 2021, 9:14 am
by Dod101
jackdaww wrote:i am a buyer of LGEN -- at 200 or less .
I wish you no ill will but I hope you have a long wait to buy again. I am slightly surprised to see the share price finally rising considering that they have made it clear that they will hold the Final, or maybe that is why it is rising; that they will pay the Final. I have always held this Company in high regard and it has never let me down. As for the volatility in the last year, I think the market was concerned that the PRA would step in again and stop its paying dividends.
Dod
Re: Legal & General (LGEN)
Posted: January 7th, 2021, 1:03 pm
by idpickering
Dod101 wrote:jackdaww wrote:i am a buyer of LGEN -- at 200 or less .
I wish you no ill will but I hope you have a long wait to buy again. I am slightly surprised to see the share price finally rising considering that they have made it clear that they will hold the Final, or maybe that is why it is rising; that they will pay the Final. I have always held this Company in high regard and it has never let me down. As for the volatility in the last year, I think the market was concerned that the PRA would step in again and stop its paying dividends.
Dod
I took the opportunity to buy more LGEN on 20 Mar 20 @ 167p ps, and am mighty glad I did. LGEN now form 6% in capital value terms of my 25 share HYP. I hold the company in high regard too, and consider it to be a mainstay in my HYP.
Ian.
Re: Legal & General (LGEN)
Posted: January 7th, 2021, 1:26 pm
by Padders72
I made a few buys over the past year after realising that LGEN were a much better long term insurance bet than Aviva (which I still have), it now makes up 8% of what could be loosely called my HYP at an average of 175p. I am happy to report I picked up the first chunk on 23rd March at 140.5p. One of my better choices, well so it seems so far.
Re: Legal & General (LGEN)
Posted: January 7th, 2021, 1:45 pm
by jackdaww
yes , its a good buy under 200 , for those who bought in then , as i did .
have been now selling down at around 270 .
Re: Legal & General (LGEN)
Posted: January 7th, 2021, 2:59 pm
by Padders72
jackdaww wrote:yes , its a good buy under 200 , for those who bought in then , as i did .
have been now selling down at around 270 .
But why? Just short term profit taking or do you see clouds on the horizon. Paying a reliable circa 6.5% makes them worth the current price and more IMO. Even at circa £1 per share up I see more upside in keeping that jumping ship.
Re: Legal & General (LGEN)
Posted: January 7th, 2021, 4:14 pm
by idpickering
jackdaww wrote:yes , its a good buy under 200 , for those who bought in then , as i did .
have been now selling down at around 270 .
With LGEN priced at 277p as I type, I guess you're a seller now. Doing so hasn't crossed my mind, and I intend holding onto my LGEN shares for the long term. With a current yield on offer at 6.4%, according to dividenddata.co.uk here;
https://www.dividenddata.co.uk/dividend ... alDiv=true , from a solid outfit like LGEN, why would anyone sell their holdings? Either way, I respect your right to deal with your shares however you see fit jackdaw.
Ian.
Re: Legal & General (LGEN)
Posted: January 7th, 2021, 4:46 pm
by FanciThat
Re: Legal & General (LGEN)
Posted: January 7th, 2021, 5:18 pm
by 77ss
I have a decent holding in LGEN, but I look at more than just yield. It's capital performance has been less than stellar over the past five years.
5 year Total Return of 48%. Not too bad perhaps, but boring old FCIT has shown it a clean pair of heels with 103% (figures from HL).
I suspect (hope?) that the share price still has some legs in it, and when/if it hits 285p I shall be sufficiently overweight to make a substantial top-slice.
Where I agree with what I suspect is your underlying point (apologies if I am wrong) is that I would not try to put the proceeds into another 6-6.5% yielder. What would be the point? I would look to something with a capital growth focus, and probably an IT. Plenty of options there. This is the way I have been going over the past decade anyway.
Its worth remembering that the glory days of huge dividend increases are long gone. No increase at all this year and a target of 3-6% per annum for the next 5 years.
Re: Legal & General (LGEN)
Posted: January 8th, 2021, 7:58 am
by jackdaww
Padders72 wrote:jackdaww wrote:yes , its a good buy under 200 , for those who bought in then , as i did .
have been now selling down at around 270 .
But why? Just short term profit taking or do you see clouds on the horizon. Paying a reliable circa 6.5% makes them worth the current price and more IMO. Even at circa £1 per share up I see more upside in keeping that jumping ship.
====================================
if i am allowed to answer your question , no , its not profit taking etc.
i think the market has had plenty of time to set the price , there must be reasons why the yield is still high.
i have been moving more away from individual shares into IT's and ETF's.(many will be holding LGEN).
with an emphasis on growth .
Re: Legal & General (LGEN)
Posted: January 8th, 2021, 8:35 am
by Dod101
jackdaww wrote:Padders72 wrote:jackdaww wrote:yes , its a good buy under 200 , for those who bought in then , as i did .
have been now selling down at around 270 .
But why? Just short term profit taking or do you see clouds on the horizon. Paying a reliable circa 6.5% makes them worth the current price and more IMO. Even at circa £1 per share up I see more upside in keeping that jumping ship.
====================================
if i am allowed to answer your question , no , its not profit taking etc.
i think the market has had plenty of time to set the price , there must be reasons why the yield is still high.
i have been moving more away from individual shares into IT's and ETF's.(many will be holding LGEN).
with an emphasis on growth .
Different views are what makes a discussion board but I think that L & G is being tarred with the same brush as banks and people do not quite believe that their dividend is secure. After all there was a real threat last April of the PRA telling them not to pay their Final. Not sure how far the current run will extend because the Company has indicated that it will hold its Final for 2020, but that is good enough for me in the current climate and I am happy to continue to hold as I have for the last 25 years or so.
The move, which seems now to be fairly common, of moving from individual shares to ITs is restoring ITs to the role they were designed for in the first place so makes perfect sense.
Dod
Re: Legal & General (LGEN)
Posted: March 10th, 2021, 7:10 am
by idpickering
Re: Legal & General (LGEN)
Posted: March 10th, 2021, 7:27 am
by Dod101
These results I think were well trailed. They seem good enough to me. The held dividend in particular was well known although it would not surprise me if the market marks them down.
Dod
Re: Legal & General (LGEN)
Posted: March 10th, 2021, 11:02 am
by 77ss
Dod101 wrote:These results I think were well trailed. They seem good enough to me. The held dividend in particular was well known although it would not surprise me if the market marks them down.
Dod
At a yield of over 6% I have no problem with a held dividend. Pretty well signalled, as you say.
Currently my largest single holding - approaching top-slice territory.
The last time it was there was back in December 2019 - at 311p. Buying back in the course of the 2020 lows has more than replenished my holding. I don't understand why the market downvalued it so much.
Re: Legal & General (LGEN)
Posted: March 10th, 2021, 2:04 pm
by TUK020
Sometimes, but rarely, one just gets lucky!
I topped up on Mar 21st 2020 at sub 150.
Still chortling when I think about it. Now well into topslice territory.
Re: Legal & General (LGEN)
Posted: March 10th, 2021, 2:33 pm
by Alaric
77ss wrote: I don't understand why the market downvalued it so much.
it was suggested there were fears about the quality and valuation of its assets. I believe it holds a lot of corporate loans and bonds to match the outgo of its large portfolio of annuities. If some of these were to default, or even be downgraded, it could cause difficulties.
Re: Legal & General (LGEN)
Posted: May 27th, 2021, 11:36 am
by Dod101
Like other holders no doubt I received my final dividend for 2020 today. I am rather enjoying the 6.3% dividend yield even if the dividend has been held at the previous year levels.
Dod
Re: Legal & General (LGEN)
Posted: May 27th, 2021, 1:25 pm
by daveh
Dod101 wrote:Like other holders no doubt I received my final dividend for 2020 today. I am rather enjoying the 6.3% dividend yield even if the dividend has been held at the previous year levels.
Dod
Not yet I'm afraid, I'm with HSDL - it will probably turn up tomorrow. Once it does it will mean I have sufficient cash for a top up (of something, but not LGEN as it is way down the HYTUSS top up list due to its large capital weighting).
Re: Legal & General (LGEN)
Posted: May 27th, 2021, 2:03 pm
by Padders72
daveh wrote:Dod101 wrote:Like other holders no doubt I received my final dividend for 2020 today. I am rather enjoying the 6.3% dividend yield even if the dividend has been held at the previous year levels.
Dod
Not yet I'm afraid, I'm with HSDL - it will probably turn up tomorrow. Once it does it will mean I have sufficient cash for a top up (of something, but not LGEN as it is way down the HYTUSS top up list due to its large capital weighting).
Unless you are fearful of the superficial sector overlap, as you know Aviva are looking interesting for a top up at present since they have a circa £3bn chest of funds from disposals that they are planning on returning to shareholders in the next few months. How hasn't been established yet but it is sounding promising. Their ongoing yield isn't too shabby either.
Re: Legal & General (LGEN)
Posted: May 27th, 2021, 5:00 pm
by daveh
Padders72 wrote:daveh wrote:Dod101 wrote:Like other holders no doubt I received my final dividend for 2020 today. I am rather enjoying the 6.3% dividend yield even if the dividend has been held at the previous year levels.
Dod
Not yet I'm afraid, I'm with HSDL - it will probably turn up tomorrow. Once it does it will mean I have sufficient cash for a top up (of something, but not LGEN as it is way down the HYTUSS top up list due to its large capital weighting).
Unless you are fearful of the superficial sector overlap, as you know Aviva are looking interesting for a top up at present since they have a circa £3bn chest of funds from disposals that they are planning on returning to shareholders in the next few months. How hasn't been established yet but it is sounding promising. Their ongoing yield isn't too shabby either.
Already own some Aviva and it also sits well down in the HYPTUSS top up list at 18th place again because of capital weighting. It will be interesting to see how they return capital to shareholders. Top of HYPTUSS are preference shares (AV.B and LLPC) but their price is well ahead of my purchase price and also well ahead of par so I'm a little wary, but its not really on topic for the LGEN board even if it is discussing how I'm going to reinvest the LGEN dividend.
Re: Legal & General (LGEN)
Posted: May 27th, 2021, 10:19 pm
by Dod101
I do not see Aviva as in the same space as L & G: at least the new CEO still has to prove that it has a decent future. Its parallel, RSA (I know that Aviva has life insurance which RSA does not) has been taken out and it leaves only Aviva I think with the historical baggage which has held both of them back for years.
I would expect Aviva to return capital largely via share buybacks since the surplus capital comes from reducing the size of the company. That will be good for shareholders going forward.
L & G is by far the better company I think. MY L & G dividend is going towards my living expenses, like most of my dividends!
Dod