Saturday, March 5, 2011

AMAG, Insurance Cheap Or Gambling?

https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxOSwIxTrjETMGXrShpSoJprtB5X0AwmX8-nJq-JGPP4PZL6dwrVKlVv3pjLmMhtTkqXL6x7Uby8oLIitsgi_kzTHYD9yaQbbYrpusNy6bRZtyom3BjILR0Xvw4Az9b0J5h9smSZvkcZdX/s1600/Logo-PT-Asuransi-Multi-Artha-Guna-Asuransi-MAG.jpg 
An insurance company owned by Panin Group with a market cap of small, currently only around 195M only. So it is with daily transactions on the stock reply of this akhir2 jg minimal, less than hundreds of millions. The last time that seemed crowded around december last, probably was window dressing aja. It's known, is famous for its fundamental Panin Group sizable market price which is still cheap years ago, maybe this year jg still so. I felt Mutual Panin jg yg last year skyrocketed is derived from linernya second portfolio performance, including from his own grup2nya like PNBN, PBRX, PNIN, PNLF and certainly not behind AMAG ... : D 

Balance Viewed from year to year, seemed a good growth in total assets of around 17% per year, and most of the assets of an investment in time deposits. Outstanding debt, retained earnings and equities were also looking healthy ... until here no problem. I love rating of B + is ..

Income statement

Successfully Put incomes who are always increasing, and in 2010 I estimate increased by about 20%, a good achievement. Jgn yg pm until 
there who claim segede Gaban forgetfulness are not logged in aja .. wkwkwk ... From the comparison of Q3 2009 and 2010, there is a slight decrease in net income, I tp tetep tetep believe 2010 will be better than 2009, because they will not decrease because of the decline in operational performance. 

Ratio

At a price of 136, AMAG PER Annualized yield about 3 times. where Anz my EPS estimate will reach about 45, or an increase of about 10-15% compared to last year. With estimates of the ROE ratio of about 17%, although quite tolerable disektornya, tp I still feel less comfortable if not above 20. Jd need a little polish to be inserted therein to an investment portfolio jk PJG. 

Prospect  

Based on growthnya distinguished stable from year to year and also a healthy financial report, then I am optimistic bbrp wktu lg will soon be glimpsed as one of the favorite by most investors' portfolios. Business insurance is a business which is almost always profitable unless suddenly flooded Claim, but of course all the risks they have so far succeeded in anticipation Put kkinerja good. At first glance, I see this stock still deserves to sit around 150an. Optimistic price target of about 200 time frame of 12 months, "the old wah bener kok ..?" gan understand, is still difficult motion, less liquid, not much ogled hell ...

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