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Strategies & Market Trends : Value Investing
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To: MCsweet who wrote (31616)6/26/2009 5:22:05 PM
From: Paul Senior  Read Replies (2) of 78744
 
Back into SAFT for a few shares.

I understand this Massachusetts auto insurer is under much competition. Perhaps from the likes of well-capitalized, much-advertised GEICO. I'd just like to see [t]SAFT[/t] keep its share of the market. Competition in the market isn't new, and in past anyway, SAFT seems to have done okay. I presume this will continue.

Numbers I want to see are there. LTD/total capital = 0. Roe isn't so great, but p/tangible bv = .8. Bv dropped in '01 from $17/sh to $10. Every year thereafter, bv has risen to now almost a quadruple. Company's been profitable in each of the last seven years. Dividend yield over 5%. Numbers drop into my model for a buy.

Possible cautions with SAFT: Lot of March non open market sales by insiders, according to Yahoo at around current price. Also, p/e now @7.6 goes to 8.8 says Yahoo's consensus estimate, so analysts are expecting a poorer but still profit upcoming year. That p/e would be high historically, since p/e has usually been under 8.

si.advfn.com^SAFT
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