How can a stock up 130% in 2019 still be such a big secret?

Business

How can a stock up 130% in 2019 still be such a big secret?

Directors of Indequity seem to be going out of their way to ensure the insurer remains an obscure JSE entity

Marc Hasenfuss

Most market watchers would probably be surprised to learn that one of the best performing shares on the JSE this year is a short-term insurance company. It may be even more surprising that this top performer – with a share price gain of 130% (https://www.sharenet.co.za/v3/quickshare.php?scode=IDQ) so far in 2019 – is the little known Indequity Group.

This week Indequity posted a stellar set of numbers for the year to end September with earnings up 35% to 96.5c a share. The earnings appear to be of good quality with cash flows coming in at almost R15m – which is equivalent to about 135c a share.

One wonders why the prime movers at Indequity don’t do more to market the company to the wider investment community. The long term record in growing net premium income has been remarkably steady since 2001...

This article is reserved for Times Select subscribers.
A subscription gives you full digital access to all Times Select content.

Times Select

Already subscribed? Simply sign in below.

Questions or problems?
Email helpdesk@timeslive.co.za or call 0860 52 52 00.