The 2013 full year preliminary results for RSA Insurance Group plc was announced 27 February 2014.


"3 FOR 8 RIGHTS ISSUE AT 56 PENCE PER NEW ORDINARY SHARE
Further to the announcement on 27 February of its preliminary results for the year ended 31 December 2013, RSA Insurance Group plc ("RSA" or the “Company”) today announces the launch of a rights issue to raise £773 million in proceeds (£748 million net of expenses) (the “Rights Issue”). The Rights Issue is a fully underwritten 3 for 8 rights issue of 1,380,976,863 ordinary shares of 27.5 pence each in the capital of the Company at a price of 56 pence per New Ordinary Share.
The Issue Price of 56 pence per New Ordinary Share represents a discount of approximately 40% to the closing price of 93.4 pence on 24 March 2014 (being the last business day prior to the release of this announcement) and a 32.7% discount to the theoretical ex-rights price based on the closing price on 24 March 2014."

(thanks to skinny for this article)


Bottom chart 'fast stochastic'

Sorry TANK , I thought you meant you were selling the lot. Sounds like a plan,.

Tanks, good idea to take some profits before xd
next Wednesday, but I would be surprised to see
it pulling back to 98 in double quick time!

I will get my 98p in no hurry . cna ex div 25th april 11.11p the sp will hit 329p before then

26 March: RSA Panmure Gordon: Downgrade to Sell.
TP reduced from 110p to 99p.

Interim Management Statement.

Quarter 1 2012: Continued good organic growth and strong financial position

Net written premiums of £2.2bn up by 5% with all regions delivering good growth
Rating action and increased volumes drive the top line forward
IGD surplus remains strong at £1.3bn; coverage unchanged at 2.0 times
Net asset value per share including IAS 19 of 107p compared with 104p at 31 December 20111
Continue to expect to deliver good premium growth and a combined operating ratio (COR) of better than 95% in 2012

Overview

We have made a good start to the year. Net written premiums for the three months to 31 March 2012 are £2.2bn, an increase of 5% over the first quarter of 2011 (5% at constant exchange), with premium growth driven by 4% rate and a 1% increase in volumes. Total net written premiums including associates are up by 5% (6% at constant exchange) to £2.3bn.
Scandinavia net written premiums of £667m up 1% (3% at constant exchange)2
Canada net written premiums of £303m up 4% (3% at constant exchange)2
UK and Western Europe net written premiums of £937m up 3% (3% at constant exchange)2
Emerging Markets net written premiums of £281m up 20% (21% at constant exchange)2
Associates net written premiums of £78m up 15% (20% at constant exchange)2
Growth has been led by Emerging Markets, which has again been driven by an excellent performance in Latin America, and good performances in Personal lines in Canada and Scandinavia and Commercial lines in the UK. This has been partially offset by reductions in UK Personal Motor and Italy. We continue to benefit from our focus on Specialty and premiums grew by 6% at constant exchange across the Group.
For the full year, we remain confident of delivering good premium growth, a COR of better than 95% and investment income of around £500m.

3 May: RSA: Panmure Gordon reiterates: Sell - TP remains: 99p.

Shore Capital Reiterates it's Buy

Numis Downgrades to Hold Tp 115p.

Espirito Santo Execution Noble Reiterates it's sell Tp 112p.

Oriel Securities Retains it's Hold Tp 110p.

Hargreaves Lansdown's take.

Thanks for those updates skinny. I make that a buy-sell-hold anywhere between 99p and 115p. No ambiguity there then :-))

Going by the past, 99p a good time to wade in.

The 6+ year low is 98.50p.

Current yield (if held) is 9.07%

http://www.guardian.co.uk/business/nils-pratley-on-finance

Trading Statement.

RSA updates guidance following UK weather and Italian earthquake losses
Following the wettest June on record in the UK, RSA today announces that the net loss across the Group’s UK Household, Motor and Commercial Property portfolios from last month’s adverse weather is estimated to be around £40m. Current expectations are that the impact of the continued rainfall experienced to date in July will be around £10m.

In addition, the net loss to the Group in relation to the two earthquakes in the Emilia-Romagna region of Italy in May is estimated to be around £35m.

RSA continues to deliver a strong underwriting performance across its diversified international portfolio. However, reflecting the impact of the above events and assuming a more normal level of weather losses in the second half, the combined operating ratio for the full year 2012 is now expected to be better than 96%.
- ENDS -

July 18: Panmure Gordon reiterates 'Hold'- TP: 99p.

It seems to me that the target has been past.

No Fred it means they think the sp is going to drop and advising their clients to hold on to the stock to make a loss...helpfull advisors. makes a lot of sense doesn't it!

There are a few broker 'recommendations' out today - I prefer :-

Daniel Stewart Retains its Buy Tp 135p :-)

So do I.

Opt,

I haven't got a clue of the "true" potential of any company in the market at the moment.

I am fairly certain that the analysts have the same problem as I do, but to slightly lesser degree,

I hold RSA and a few other high yielder and stopped myself from "churning" for another 6 - 12mths.

Probably wrong, but to keep on one's toes in a market as it is too difficult for me.

TA for me needs a relatively trending market.

Good luck.

Credit Suisse reiterates: 'Neutral' - TP unchanged: 125p.

JP Morgan Cazenove reiterates its Overweight TP unchanged @145p :-)