QBE - QBE Insurance Group

[TheAbyss]

Looks like even the good ones get a smacking in this climate. Down 10% today on no real news.

Any opinions on why the slide other than flood, bushfires and a financial winter across the broader spectrum?

 

[Junior]

Anyone have any insight into QBE's share price performance today? Maybe there was something hidden in their annual report which was uncovered over the weekend!

 

[Logique]

flood, bushfires and a financial winter

Not aware of anything apart from this to explain an 11% fall this morning. Big payouts expected after recent natural disasters, and don't forget insurance companies are leveraged to performance of equity markets and in the case of QBE, strongly to the US market which has boken lower. Caught in a payout-earnings squeeze.

 

[basilio]

QBE just came out with another solid consistent result (as distinct from almost every other financial institution ) Obviously must be a Ponzi scheme ala Stanford or so the market seems to be saying..

Also watching Oil Search getting hammered - again some excellent results with a very solid LNG project. I just don't think the market is discriminating at the moment. Everything is been thrown out. In theory a great time for discriminating buyers with deep pockets and strong nerve...

 

[jonojpsg]

QBE just came out with another solid consistent result (as distinct from almost every other financial institution ) Obviously must be a Ponzi scheme ala Stanford or so the market seems to be saying..

Also watching Oil Search getting hammered - again some excellent results with a very solid LNG project. I just don't think the market is discriminating at the moment. Everything is been thrown out. In theory a great time for discriminating buyers with deep pockets and strong nerve...

Would have to agree with you there bas, with profit results like QBE, WOW and OSH leading to big hits on their SP. If I had $15000 to spend right now, I'd be banging $5k on each

 

[dmagnus]

Profit downgrades from Credit Suisse, UBS and Merrill Lynch = todays lows

Yeah I got in at $17, feeling ok about it

 

[suri]

Anyone have any insight into QBE's share price performance today? low of 0.04cent its kind of weird ??

 

[dmagnus]

that was a computer malfunction....

I think the market thinks QBE is going to take over Suncorp, hence the drop

 

[wabbit]

ASX have "cancelled" all trades on QBE < $15

http://www.news.com.au/business/story/0,27753,25160144-31037,00.html

TRADES in QBE Insurance Group shares at $15 and below were cancelled on Monday, after the stock registered an aberrant price under one cent low in afternoon trading.

According to Iress data, some QBE shares traded at a low of 0.4 cents between 1426 AEDT and 1428 AEDT, amid overall quiet dealing in the stock market.

The Australian Securities Exchange announced first that the trades were under dispute and then that trades at $15 and below were "to be cancelled''.

At 1445 AEDT, QBE shares were registered at $15.60, down 70 cents.

Course of sales data showed a 500-share parcel of QBE stock was offered at 0.4 cents at 1426 AEDT.

Shares were being bid at $5.04 each a few second later.

Bids were then made at $9.99 and $10 and upward until 1429 AEDT when the stock was bid at $15.63.

Hope this helps.

wabbit

 

[tommymac]

I don't wish to place to much emphasis and exact targets until patterns complete, but $16.00 would be a conservative estimate at this juncture.

Well, $16.00 has been reached. I've started researching this share and I like what I see.

While there are obviously risks (forex, declining margins, falling invest income etc.) and the share price may have been following the US markets, its 2008 results remained strong. It's yield is now approx. 8% and its investment portfolio is defensive with mainly short term cash and fixed interest with no deterioration in quality.

What do you think will be the effect when the ban on shorting is finally lifted? Does anyone know what has happened in the US and UK?

 

[Nick Radge]

Wave-(iii) has extended to the initial target, which as stated was a "conservative estimate". Wave-(iv) and -(v) are yet to come. We'd need to see a move back above $21.00 to move from bearish back to neutral.

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[tommymac]

Wave-(iii) has extended to the initial target, which as stated was a "conservative estimate". Wave-(iv) and -(v) are yet to come. We'd need to see a move back above $21.00 to move from bearish back to neutral.

Thanks for the update Nick,

If the price continues to fall, what is the next level of support we can expect?

 

[gohawks]

Thanks for the update Nick,

If the price continues to fall, what is the next level of support we can expect?

I'm no expert but i believe the share has support at around $15. Looks like it's going up today anyway though!

 

[tommymac]

I just bought in today at $17.77. After all my research I determined its a quality business, diversified by product and region.

While it's main growth is from acquisition it seems to have done this well in the past.

 

[goldchopper]

I just bought in today at $17.77. After all my research I determined its a quality business, diversified by product and region.

While it's main growth is from acquisition it seems to have done this well in the past.

Tommy, agree. They do need a target to takeover though. In a recession, whats the first bills that are not paid...INSURANCE. but excellent company nonetheless..

 

[gohawks]

I just bought in today at $17.77. After all my research I determined its a quality business, diversified by product and region.

While it's main growth is from acquisition it seems to have done this well in the past.

Good buy. Still kicking myself I didn't get in at under $16 when i was soooo confident it was a great buy. Obviously not confident enough.

I'm expecting another small drop in the market next week so might try to get in then.

 

[S73417H]

Well, it's been a great few weeks for QBE. Hitting that $20 level again now. What are people's thoughts on where it's going next? Push through to $24-$25 area? Or bounce back lower to the $15 mark perhaps? Thoughts?

 

[dmagnus]

all in at 16.70 =)


only gotta have a few more of those to make up for babcock ;P

 

[venno]

QBE

Anyone know of any news related to why QBE dropped today, I thought they were looking quite after their bust/boom a few months ago?

 

[johannlo]

Short selling I'm guessing. Also probably people getting out of such a relatively 'defensive' stock and getting into the cyclicals.

Feeling very annoyed at the shorters right now lol (not being one myself), playing havoc with 'investors' and not creating a single ounce of value other than profit to oneself.

Sentiment aside I wouldn't worry about medium -long term