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FBD Holdings

  • 10-03-2015 1:16pm
    #1
    Value Hunter
    Closed Accounts Posts: 337 ✭✭


    Anyone getting involved with the recent drop?

    Stock down 42% in the last year with poor earnings.

    They made €1.35 profit per share in the previous year, currently trading at €10.55.

    Book Value of €7 should give some protection.

    That's about the extent of my research so far, will give their accounts a proper look through in the next few days.

    Have a limit order placed at €10.57, still not filled though!


Comments

  • #2
    riding_shotgun
    Banned (with Prison Access) Posts: 23 ✭riding_shotgun


    Value Hunter wrote: »
    Anyone getting involved with the recent drop?

    Stock down 42% in the last year with poor earnings.

    They made €1.35 profit per share in the previous year, currently trading at €10.55.

    Book Value of €7 should give some protection.

    That's about the extent of my research so far, will give their accounts a proper look through in the next few days.

    Have a limit order placed at €10.57, still not filled though!

    its a company going in the wrong direction , anyone i know who used to deal with them , stopped four or five years ago as they were simply were not competitive

    why not buy AIG on the NYSE , they are below book value and have a global reach


  • #3
    Value Hunter
    Closed Accounts Posts: 337 ✭✭Value Hunter


    riding_shotgun wrote: »
    its a company going in the wrong direction , anyone i know who used to deal with them , stopped four or five years ago as they were simply were not competitive

    why not buy AIG on the NYSE , they are below book value and have a global reach

    Have AIG bought already! ha

    Buying FBD after a bad year is a great opportunity I think, can easily see them being €15 again. Might have to wait a few years.


  • #4
    cute geoge
    Registered Users, Registered Users 2 Posts: 3,110 ✭✭✭cute geoge


    There raising premiums in there farm insurance to cover some of there losses but a lot of farmers are jumping to zurich imsurance which is more competitive .Imo there is a long road back to recovery


  • #5
    RobertKK
    Registered Users, Registered Users 2 Posts: 33,761 ✭✭✭✭RobertKK


    February 12th storm last year cost them a lot of money.


  • #6
    lucky john
    Registered Users, Registered Users 2 Posts: 838 ✭✭✭lucky john


    I think a management change or even a refocus would work wounders here. A couple of things have gone against them in the last while. Some dubious property buys to start with. A seeming lack of interest in retaining customers by been totally inflexible on price. This has not gone down well with their core farmer base and many have gone elsewhere. Alot of farmers now buy as a group deal and fbd have been uncompetitive. Lastly the bad winters a few years ago and the big storm last year have caught the badly.

    This has been a particularly uneventful winter so the claims end of things will be much improved. A little bit of common sence and proper management would fix the other issues. I think 15 or 20% upside before this time next year wouldn't be a surprise here.


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