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Legal & General (LGEN)

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jackdaww
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Re: Legal & General (LGEN)

#257832

Postby jackdaww » October 14th, 2019, 5:51 pm

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.

:? :?

richfool
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Re: Legal & General (LGEN)

#257839

Postby richfool » October 14th, 2019, 6:39 pm

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.

Dod101
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Re: Legal & General (LGEN)

#257855

Postby Dod101 » October 14th, 2019, 7:35 pm

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

daveh
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Re: Legal & General (LGEN)

#265682

Postby daveh » November 20th, 2019, 9:01 am

L&G posted this Business Review yesterday:
https://www.investegate.co.uk/legal---3 ... 36378785T/

Dod101
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Re: Legal & General (LGEN)

#265685

Postby Dod101 » November 20th, 2019, 9:12 am

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

idpickering
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Re: Legal & General (LGEN)

#288373

Postby idpickering » March 4th, 2020, 7:09 am

Finals here; https://www.investegate.co.uk/legal---3 ... 00039172E/

Also on HYP Practical for HYPer chat.

Ian.

77ss
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Re: Legal & General (LGEN)

#288409

Postby 77ss » March 4th, 2020, 10:09 am

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).

Stan
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Re: Legal & General (LGEN)

#288467

Postby Stan » March 4th, 2020, 1:49 pm

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.

dealtn
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Re: Legal & General (LGEN)

#288499

Postby dealtn » March 4th, 2020, 4:05 pm

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.

scrumpyjack
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Re: Legal & General (LGEN)

#288535

Postby scrumpyjack » March 4th, 2020, 5:54 pm

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!)

Stan
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Re: Legal & General (LGEN)

#288577

Postby Stan » March 4th, 2020, 10:03 pm

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.

77ss
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Re: Legal & General (LGEN)

#297482

Postby 77ss » April 3rd, 2020, 5:27 pm

Welcome news!

LGEN confirms intention to pay the final dividend of 12.64p:

https://www.investegate.co.uk/legal---3 ... 49028004I/

monabri
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Re: Legal & General (LGEN)

#297535

Postby monabri » April 3rd, 2020, 8:06 pm

Noticed and reported 2 minutes after release...

viewtopic.php?p=297466#p297466

idpickering
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Re: Legal & General (LGEN)

#298275

Postby idpickering » April 6th, 2020, 1:19 pm

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.

SlickMongoose
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Re: Legal & General (LGEN)

#302844

Postby SlickMongoose » April 24th, 2020, 10:10 am

https://www.investegate.co.uk/legal---3 ... 55457891K/

Strategy update, all looks positive to me.

dealtn
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Re: Legal & General (LGEN)

#302864

Postby dealtn » April 24th, 2020, 10:42 am

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.

Alaric
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Re: Legal & General (LGEN)

#302872

Postby Alaric » April 24th, 2020, 10:55 am

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.

dealtn
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Re: Legal & General (LGEN)

#302877

Postby dealtn » April 24th, 2020, 11:01 am

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.

Alaric
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Re: Legal & General (LGEN)

#302878

Postby Alaric » April 24th, 2020, 11:06 am

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/

dealtn
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Re: Legal & General (LGEN)

#302880

Postby dealtn » April 24th, 2020, 11:13 am

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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