or for the big payday at full yr. barring no weather events
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Yep, big boys seem to appear a day here there and scoop up big lots.
Looking forward to the div next week. Treating myself and Mrs Rawz to a well overdue date away from the kids. Heading to Blues grand final (it’s coming home) and a looooong lunch in town prior.
Rest of the div probably go back into TWR shares since it’s still so undervalued
Last guidance was for NPAT to exceed $40m assuming all of the large events allowance of $45m is utilised. It seems there is about 15 weeks to FY24 balance date and none of the allowance used so far.
So fingers crossed - the above guided NPAT is increasing by over $2m per week now until 30 Sept while that circumstance holds. Scary times thou - even today an earthquake "swarm" near Wairoa.
Like Rawz looking forward to the dividend (albeit unimputed) next week. But amortising past losses at this rate should see imputation credits returning more quickly than predicted at the last AGM.
another decent parcel of shares traded. 1.1m shares at 84.5
Remember Goldman Sachs is doing its thing to unlock shareholder value... maybe the chess pieces are starting to move. If a takeover comes its going to have to be $1.50+ offer
From 04/12/2024 announcement https://www.nzx.com/announcements/422844
Tower Limited (NZX/ASX: TWR) advises that it is undertaking a strategic review of its ownership structure.
The purpose of the review - which is supported by 20% shareholder Bain Capital - is to explore options to maximise value for all Tower shareholders and optimise its capital structure to provide a strong platform for market competitiveness. Tower has engaged Goldman Sachs New Zealand Limited as financial adviser to assist with the strategic review.
Tower Chairman, Michael Stiassny commented on the strategic review saying, "In our commitment to delivering long-term value to our shareholders, we believe that a thorough examination of our ownership structure is prudent at this time. This strategic review will enable us to explore options that align with our objectives and position us for continued success in the marketplace."
I actually think the next upleg catalyst will be its addition to the Income Portfolios of the major brokers. Given the number of NZX companies reducing or axing dividends, this might only be another quarter away.
Creeping a little higher today.....up 2.3% :)
Good stuff: NZX Market Announcements
Tower and Kiwibank sign referral agreementKiwi insurer Tower (NZX/ASX: TWR) announces it has entered into a referral agreement for general insurance products with Kiwibank for its retail banking customers. The agreement is for an initial term of five years.Under this arrangement, Kiwibank customers choosing to insure with Tower will insure their assets directly with Tower via Tower branded policies.Tower CEO, Blair Turnbull says, “We’re thrilled about the opportunity to welcome Kiwibank customers to Tower and to be joining forces with another Kiwi born and bred business.“This referral agreement presents a strategic opportunity for Tower and aligns with our focus on growing our home insurance portfolio.”Kiwibank Chief Executive Steve Jurkovich says, “We’re excited about entering this new partnership with Tower and to be able to support our customers to have the right protection in place which goes to the heart of our purpose of Kiwi making Kiwi better off.”Tower has referral agreements in place with several other New Zealand organisations, including the Kiwi Adviser Network, New Zealand Financial Services Group and Trade Me, among others. These relationships have introduced more New Zealanders to Tower products.No regulatory approvals are required to proceed under the agreement
Don't tell anyone .. a few storm alerts out there .. again :)
Looks like it could push through 0.87 resistance
88c now. Not bad on a day where the media are talking about potential floods on the East Coast :)
Nice to see further sp strength and divvy hit the bank a/c today.
insurance stocks super strong in aus today on iag update
Suncorp and IAG both up 30% this year.
It will be interesting to see the cost to twr of the east coast storm, particularly the wairoa flooding. A good test of how well they are progressing with shedding these climate change risks
Should test a buck mark soon.
Low volume push to 85c on ASX, equates to 93.5c here.
Trading on a FY25 forward PE of 6.9 based on guidance of 13cents per share.
TWR Aussie competitors all trading 13-20 PE multiples last time I checked
Easy hold to at least a 10 PE multiple Ie $1.30 per share
Thought HB Regional Council are were being saddled up to wear that one in intiriety .. or maybe not if they start wriggling vigorously about the trend in Capital values in the Northern River Town after the HB Regional Council plonkers show eagerness to try their hand at further perfecting the job .. like a third attempt in future needed in as many years ;)
"Six landowners choose to remain on land deemed risky after Gabrielle"
"The house wasn’t insured and he’s spent the past 17 months getting that back in order, along with removing debris and flattening paddocks so they can be put back in use."
Land values & rates will drop a fair bit too
https://www.stuff.co.nz/nz-news/3503...fter-gabrielle
Sellers have nearly disappeared. Will be hitting $1 soon?
Up 49% YTD. + 3cent div.
GWP increasing, management expense ratio's decreasing.
Could be looking at $1.30 per share come December + a capital return.
TOWER, the shining light of the NZX
Parcel of 590 000 just gone through at 93c
Clearly someone accumulating these last few weeks
Chart is littered with green candles on BIG volume. Looks fantastic. I got set @ 0.86 the day before ex-div.
$1.00 mark will probably provide some stiff resistance.
Remember the strategic ownership review - there's also a chance that the current accumulation is a prelude to takeover.
Ive just had another look at Forbar research via MST access and forward earnings is as follows:
FY25 EPS= 14.5
FY26 EPS= 19.6
Competitors are trading on following FY25 P/E multiples:
IAG 16x
Suncorp 15.6x
QBE Insurance 10.1x
AVG: 13.9x
So can be conservative and put TWR on a forward P/E of 10x of FY25 eps of 14.5 and get a target price of $1.45 or 56% above todays price of 93 cents.
Its been a very nice hold and will continue to be watching the re-rate and collecting the dividend.
The bonus items include:
- Goldman sachs still working on the strategic review to unlock shareholder value.
- High potential for large one off capital return if the large event allowance isnt fully utilised
- Continued strong business performance in terms of GWP growth and management expense ratio + share price momentum could take the SP up to avg market P/E multiple or above (i.e. things sometimes get overvalued)
Rawz … I probably put kiss of death on TWR share price ….just doubled my holding
Strategic review was what tempted me
Topping up @ 0.905
New ones under water ….or is it out of the money?
Sorry guys
sheesh W69 you really have killed the momentum lol