SUN - Suncorp Group

[tybutler]

Re: SUN - Suncorp-Metway

Grapal, I have not received the form. When did you receive it? Thanks.

You can get a personalized entitlement form off the Link Registry website - just enter your HIN and then print it out.

Ty.

 

[mmmmining]

Re: SUN - Suncorp-Metway

You can get a personalized entitlement form off the Link Registry website - just enter your HIN and then print it out.

Ty.

Ty, thank you very much. You save me a lot of time.

 

[Warren Buffet II]

Re: SUN - Suncorp-Metway

Anyone know the cost basis for us new SUN ex-PMN shareholders?

There are 2 cost bases for that calculation:

1) Cost Base of Promina Shares Exchanged

=Number of Shares * Promina Acquisition Share Price

This is the basic Promina acquisition base value and depends how much you paid for them and you need to reduce your Promina Acquisition Share Price
with the Promina capital returns (check the prospectus for details)

2) Cost Base for Suncorp Shares Received
= Cost Base of Promina Shares Exchanged - (Cash Consideration Received/(Cash Consideration Received+Market Value of Suncorp Shares Received))*Cost Base of Promina Shares Exchanged

Now, this cost base will be used once you sell your new SUN shares for CGT purposes. You should know all the values but an important one is the Market Value of Suncorp Shares Received (which I am assumming is the closing price @19/03 as the implementation was 20/03 = $21.55, anyone can confirm this?)

WBII

 

[AnalysisParalysis]

Re: SUN - Suncorp-Metway

In plain English, could someone please help me here. This merger, what is the effect on sp, compared to a takeover. In other words, if Sun were taking over Pmn, the sp would drop. If I were trading SUN at the moment, how is this merger affecting the sp? Thanks sincerely.

 

[FinalFantasy]

SUN - Suncorp Metway

Anyone know howcome this share has dropped quite a bit recently??
Is it because of excessive insurance, storm claims lately?????

 

[alphman]

Re: SUN - Suncorp Metway

Anyone know howcome this share has dropped quite a bit recently??
Is it because of excessive insurance, storm claims lately?????

Yes, I would say that this is the main contributing factor. IAG is down as well so no big surprises there.

 

[vicb]

Re: SUN - Suncorp-Metway

First time I have posted a chart so will see how I go
Increased volume and a break in the downwards trend line seems to point to a move from downwards momentum.
Plus a dividend should be on the horizon which should see it push back up over the $21 mark.

 

[DionM]

Re: SUN - Suncorp-Metway

SUN is hovering below $19/share. With a nice dividend yield and a reasonable P/E ratio, it seems to be one of the better value banks?

I guess the only question is how well with the Promina integration work.

 

[alphman]

Re: SUN - Suncorp-Metway

SUN was covered in Intersuisse's morning notes earlier in the week (attached) with an "accumulate" recommendation.

 

[Ken]

Re: SUN - Suncorp-Metway

Merrill Lynch listed as MER seems to be even better value....

It has been hammered in the US. Its worth noting that the major US banks have lost a lot more than the Aussie banks....

Bank of America, Citigroup, Meriill, JP Morgan, are all well done...

Suncorp I think they are undervalued. Dont particularly like their business.

 

[aaronphetamine]

Re: SUN - Suncorp-Metway

I am employed by Suncorp Metway and id like the opportunity to own shares in the company which i work for. Their share price hasnt been too flash this year alright, but from what i see is that it bottoms out around the 18dollar mark.

According to our staff magizines the promina merge is going well, and I still dont really understand why the market sentiment towards it was so negative (never really bothered to find out why)

I am seriously thinking of buying some shares at this price (not too many) and just let them sit there for the next year, but having said that their price movements comparted to other banks and insurers recently, hasnt been that flash. I mean, say from the august correction to 1st of nov.. nearly all the banks would have been better performers.

 

[vishalt]

Re: SUN - Suncorp-Metway

Because this market is mostly dominated by a bunch of hack-speculators who push up shares with weak or no fundamentals (hi Fortescue, how's your iron ore?) rather than things that make record profits and have solid foundations (hello Wesfarmers, Virgin Blue, Suncorp)

 

[DionM]

Re: SUN - Suncorp-Metway

Continuing it's downward spiral. Not helped by Centro fallout, and now a large insurance claim.

Still, at under $17, it's quite cheap for one of the bigger banks? Thinking of topping up.

 

[vishalt]

Re: SUN - Suncorp-Metway

Continuing it's downward spiral. Not helped by Centro fallout, and now a large insurance claim.

Still, at under $17, it's quite cheap for one of the bigger banks? Thinking of topping up.

There were some rumours of a merger with Suncorp and St. George which sounds logical (Suncorp would add a whole insurance arm to St. George and a significant banking clientelle + brands).

Suncorp is terrible slow but a company that makes record profits none the less, but a shame that the share price won't reflect this

I also have a friend who I meet regularly for lunch who works at Suncorp, she says the Promina merger is going well and that Scorp just print money out

 

[Garpal Gumnut]

Re: SUN - Suncorp-Metway

Continuing it's downward spiral. Not helped by Centro fallout, and now a large insurance claim.

Still, at under $17, it's quite cheap for one of the bigger banks? Thinking of topping up.

Thanks Dion,

SUN is a funny share given to large retracements, but thus far has been very good to holders who stay in for the long haul. Mrs Gumnut got in at $4 or something like that. I've been in at $8 and $12 and again got more via my Promina holdings at $15.50 or thereabouts.

Its exposed to the vagaries of the weather and the financial climate, sharemarket and banks.

I enclose a monthly chart back to 1997.

I'm very overweight in it but feel it will find support at $15 or therabouts, as you can see this will be between the 50 and 61.8 retracement from the recent highs to the most recent major low back in 2003. , and was also a resistance point in 2001.

If it pokes below that I might be tempted to buy more , but its a lazy share and I've found it best to get in in the past after its been in a trading range for a while and starts to move up to the top of that range, rather than try to pick bottoms.

I wouldn't have a clue whether they all make money behind closed doors, crap themselves about trying to integrate the Promina systems with theirs, or play suduko all day.

I tend to ignore talk from folk who work in insurance companies as they are usually the last to know its going down the gurgler, HIH comes to mind.

Heres the chart





Enclosed is the chart

 

[AnDy62]

Re: SUN - Suncorp-Metway

Currently at 15.60. Seems very cheap to me. Anyone buying or thinking of doing so? Prophets seem to think the worst is behind them. Great dividend too 7% FF. One to think about IMO

 

[ROE]

Re: SUN - Suncorp-Metway

I bought in today for $14.70
maybe in get in too soon close at $14.17

if wall st close lower, a couple more hundred points could hit us soon

 

[56gsa]

Re: SUN - Suncorp-Metway

reasons to be cheerful part 3

1. the merger / take over potential
2. the dividend yield (over 7% on FY09 forecast)
3. the recent consolidation pattern

 

[treefrog]

Re: SUN - Suncorp-Metway

could this be influencing some??

FORECAST EARNINGS TREND
Have the analysts been upgrading or downgrading their forecasts over the last 3 months?

 

[ROE]

Re: SUN - Suncorp-Metway

All Business going through a bad phrase at some stage in their life, some once,
some many times but as long as you can understand their business
and have confident it will come back then it's a prime time to buy these business as it's the cheapest oppotunity for you to buy.

at any other time it trades at fair value or over value and the only way is down .. look at all the market darlings like CBA, WOW, MacBank where they trades at all time high last year, how much further can they really go? the only way is down for these guys.