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SUN - Suncorp Group

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Re: SUN - Suncorp-Metway

ROE, fellow SUN holder. I must admit I haven't had the faith to keep buying on the way down, but good on you for doing so. $12.50 still seems like a steal, but in this market, who's to say? I'm still smarting from buying in at $15 a couple of weeks ago :banghead:. Might buy some more if they dip into the elevens again. I just hope they don't get taken over for a crappy price because in time they should bounce back to the $20 mark. Let's hope this raly continues on its merry way, wow, maybe even the DOW might go up too :eek:
 
Re: SUN - Suncorp-Metway

I've been watching and thinking.

I hold SUN (from $18.50, but lets not go there!) and am still deciding what to do - whether I buy more SUN, or diversify (ANZ looks interesting). I also hold IAG (again, at a stupid price) so I think I have 'enough' insurance exposure ...
 
Re: SUN - Suncorp-Metway

SUN was my best performer today :cautious: . But I think it isn't a bad stock in that I think the insurance industry has just experienced its nadir IMO. At $12.50 SUN has held up ok in the past couple of weeks. To me, accumulating a solid share with a good divvy at low prices is how you take advantage of a bear market. Will look to scoop up some more of these in the future, or maybe QBE/IAG given I'm pretty heavy on SUN :)
 
Re: SUN - Suncorp-Metway

SUN 15.000 15.020 15.010 +1.410 10.37%

Wow! :D

Such a big rise on a modest day with no news :cool:

Couple of broker upgrades, something to do with the preference offer, takeover? Who knows, but it is nice to see my earlier block of Suncorp finally in the green!
 
Re: SUN - Suncorp-Metway

I got in about the same time u did Andy...so todays high, about 10 weeks after
buying in was good to see...for the first time with SUN, im in the money:cool:.

Value is Value.

Have to admit im pretty tempted to take the money and run....all this
negative sentiment has finally got to me.:dunno:
 
Re: SUN - Suncorp-Metway

Big white candle again yesterday, hope you didn't get out near the open 'So Cynical', if you did get out. But for me, I'll hold, its a quality stock which, a couple of days was trading at book value - very unusual for a big finance stock. Good to see my knife catching with this one hasn't proved to be the disaster it was looking like a while back :eek:
 
Re: SUN - Suncorp-Metway

So_Cynical said:
I got in about the same time u did Andy...so todays high, about 10 weeks after
buying in was good to see...for the first time with SUN, im in the money:cool:.

Value is Value.

Have to admit im pretty tempted to take the money and run....all this
negative sentiment has finally got to me.:dunno:
Click to expand...

lol, this is the exact reason we see resistance points and so many consolidations at old highs.

Those who bought at a previous high, rode the trend down, now want to break-even.

This one broke out on high volume, not much else to say really, I would at least wait until it closes lower than the lows of the previous two days on it's uptrend to give yourself some chance of catching the trend up. This way, you cannot loose much either if you have a relatively safe position size......

Good luck!
 
Re: SUN - Suncorp-Metway

Look at SUN goes in the last 3-4 trading days...clearly the market now see value in suncorp ..... glad I make a stand and bold up SUN when they are down low low low :D

I think if Westpac can get St George ... Suncorp is an attractive target for CBA given CBA has insurance and Promina division of suncorp will do nicely with CBA insurance division and CBA present in QLD is not strong where suncorp has that market cover. :D my 2 cents
 
Re: SUN - Suncorp-Metway

:iagree: Assuming all goes well with the WBC/SGB merge.

CBA, ANZ or NAB would almost certainly have to have a go at Suncorp to stay in the
top 2 or 3 banks, plus the insurance side of things has to be a plus.
 
Re: SUN - Suncorp-Metway

^ I too agree. Fat Prophets said to buy them a couple of days ago (haha we got in before the 'experts'). I'm thinking I might add some more if they drift under $15 again- because I think they are good value at that price irrespective of the takeover prospect anyway. Good luck to the holders, DYOR
 
Re: SUN - Suncorp-Metway

Thx for the article, very interesting. Could work well as QBE could be able to dispose of the banking side of SUN pretty easily you'd think given the SGB/WBC merger. I hold SUN, don't think you can go to far wrong with 7.4% FF dividend, earnings factored in to PE ratio and price and of course the prospect of getting taken over - $19.50 eh? Sounds good to me. The article was speculating of course with that price :cool:.
 
Re: SUN - Suncorp-Metway

Standard market expectation that you offer 30% premium to trading price before the board even consider it...there is absolutely noway any take over can take place if it's offer at trading price unless the company about to go belly up of course then you offer at much as you like :D

PS:
Anyone spot O'Halloran in Suncorp Brisbane Headquater yet :)?
 
Re: SUN - Suncorp-Metway

Any of you SUN buyers ready to get out yet? :banghead: Another couple of weeks down for the market, and a couple of more dollars off SUN and it will be ...... ;)
 
Re: SUN - Suncorp-Metway

Buy some more :D I suspect they are under pressure for a hostile take over
this is a perfect opportunity for some hostile take over
 
Re: SUN - Suncorp-Metway

Picked up some more today....been collecting on every couple of dollars down from $15. Looking a few years down the road... Wouldnt imagine it getting below below $10. Div would be too good, but i guess thats prob a silly thing to say in this market:D
 
Re: SUN - Suncorp-Metway

They have to start to increase earning to maintain the dividend but I'm pretty sure they can maintain 2009 divi at 107 cents due to low pay out figures in previous years.

Beyond 2009 I dont want them to payout this figure if they cant increase earning .. I prefer to get dividend at 55 cents beyond 2009 if they cant increase profit.

at this price I'm not surprise if QBE start to run the ruler over it..... :D
 
Re: SUN - Suncorp-Metway

The_Snowman said:
Any of you SUN buyers ready to get out yet? :banghead: Another couple of weeks down for the market, and a couple of more dollars off SUN and it will be ...... ;)
Click to expand...

More than happy to hold....today's ann was somewhat expected by the market, and subsequent
price action was pretty much a confirmation of the support at around $11...today's lows were
about the same as we saw 4 months ago.

We have seen the worst for SUN and it wasn't that bad....for those of us that got in cheaply
in the last 5 months or so.

:D
 

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