+ Watch SYA
on My Watchlist
book + Discounted eps = 26.57$
The only thing going for this bank is that it is beating a weak industry and if it plays its cards right it should keep beating the S&P.
A lot of smart people.
Just a hunch...and by that, I mean that Warren Buffett via his subsidiaries bought $109 million worth of their stock on June 20.
50% of book value. Consistent profits. 8% roe. 2.2% yield. Insurance company. 8 pe. 20% insiders.
two earnings misses really knocked this one into bargain territory. At 50% tangible BV, and good profit margin, they earned about 180million last year. I expect that they will be back at their 2005 profit level by mid-2011, which was about 205million per year. This should put their price near $15/share by my estimates.
Symetra is a very under the radar brand that is growing very quickly in many sectors. Lack of public history and insight into its product lines makes this difficult to discern at this time but come there quarterly reports I expect to see significant gains in the value of this stock.
I like the game they are in, easy money with 401k etc.
Warren Buffett retains his 25% stake In this company,and today was Its first full trading day since yesterdays IPO (Initial public offering) on Thursday,January 21st. Symetra was priced at $12.00 per share,and closed up today just shy of 6% at $12.75. The stock came public Into a 365 point two day loss for the dow,and financial stocks taking a beating..... Not a bad debut at all things considered. I will play right along with Mr. Buffett on this one,and I strongly reccommend this stock for long term Investors. — The most anticipated IPO of the year, Symetra Financial, priced its stock at the bottom of its expected range for $12 apiece.Symetra already has a big backer in Warren Buffett, who's Berkshire Hathaway Inc. owned about a quarter of the company that has been privately held.Investors bought 30.4 million of the Bellevue, Wash., company's shares, raising $364.8 million.They had been expected to price between $12 to $14.Berkshire Hathaway retained its entire stake of about a quarter of the life insurance company, whic also sells medical insurance underwriting services, and retirement products such as annuities and IRAs.Analysts believed that the company's ties to Buffet would bring in gobs of investor money, but a 336-point drop in the Dow Jones industrial average over the previous two days appeared to spook potential buyers, and shares came in at the low end.Symetra Financial Corp. said in a regulatory filing that proceeds from the offering, before expenses, were $234.1 million, which it would use for general corporate purposes.also have a 30-day option to purchase up to 4.6 million more shares, which could raise $55.2 million more for the insurer.Symetra is expected to begin trading on the New York Stock Exchange Friday under the symbol "SYA." TS
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