Insurance

Insurance

ARTICLES

GNW Receives CFIUS Approval, Changing Recommendation to SELL

Insurance company Genworth Financial (NYSE: GNW) received approval from CFIUS, a key U.S. regulator, for its pending acquisition by Chinese company Oceanwide. With the shares currently about 20% above our Buy limit and only 12% below the $5.43 acquisition price, as well as the potential that other regulatory hurdles or financing concerns may impede the deal, we are changing our recommendation to a SELL. GNW shares are up about 70% from our March 2018 initial recommendation price.
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This stock is in limbo, but there are two paths to significant gains for shareholders.

Purchase Recommendation - March 2018

While an investment in this mid-cap insurer carries significant, speculative risks, we believe that the upside potential justifies these risks. On the one hand, there is a determined buyer working toward completing a cash deal worth 90% more than the current share price. On the other hand, if the deal fails to pass regulatory muster, the company is currently valued at a remarkably low 11% of book value and 2x earnings, even as the underlying businesses appear to be improving.
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This stock moved up pretty steadily over the past year.

Sale Recommendation - October 2017

We are recommending Turnaround Letter readers sell this mid-cap to reflect full valuation and completion of the turnaround.
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Ally Financial Announces Acquisition of TradeKing Group

Ally Financial (NYSE: ALLY) announced that it has signed an agreement to acquire TradeKing Group, Inc., a digital wealth management company, for about $275 million. The transaction is expected to close in the third quarter and includes an online broker/dealer, a digital portfolio management platform, and educational content and social collaboration channels.
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Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

Lessons from the 1st Turnaround Letter of 32 Years ago

In July, 1986, exactly 32 years ago, George Putnam sent the first Turnaround Letter to subscribers. Technology back then seems like the Stone Age, with hard copy research and primitive CompuServe dial-up service. Wall Street ignored turnaround stocks back then and continues to ignore them today. While technology has changed immensely in 32 years, The Turnaround Letter’s philosophy of selecting out-of-favor companies on the verge of turning around hasn’t changed. Our timeless process helped driven The Turnaround Letter’s independently-verified market-beating returns. Read More.

Comparing Stocks Vs. Bonds

While the common stock of a turnaround candidate usually has the greatest upside potential, other classes of securities, such as bonds or preferred stock, may offer attractive profit possibilities with less risk. Many turnaround companies have only one class of securities available to investors but where there are different classes to choose from, it can pay to do a little extra analysis of the various options.

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Turnaround Letter Stock Pick Named Top Performer of 2017

 

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What Last Year's Top Stock Pickers Are Buying in 2018

 

This Forbes write-up follows up on the recent Top Stock Tips report--naming The Turnaround Letter's Crocs recommendation the top performer of 2017: With 90% gains, CROX beat out 100 other investment ideas included in the report; and the stock continues to have value investing appeal, according to Putnam.

 

George notes, "We see additional upside for the stock in 2018 as management's efforts continue to bear fruit, though the gains will likely be more muted than we saw in 2017."