The NSE market is currently bleeding as investors rush to book profit on their winning stocks. This is a normal pullback and I think you should see this as another round of buy opportunity before the market finds support.
The overall outlook remains positive, the bull is not over, so take advantage of this healthy correction to prepare your portfolio for take-off; this time, buy more of high yielding dividend stocks.
One of the stocks I am mopping up gradually, before the bull returns, is Lasaco Insurance Plc.
Lasaco Assurance PLC provides life and general insurance services, which includes motor, bond, contractors-all-risk, fire, burglary, aviation, marine, general accident, life, pension schemes, engineering, and oil and gas.
Lasaco Assurance is one of the few profitable businesses in the insurance of sector; the company generated a net premium of N4.8 billion in the 9-month of its current financial year, which 20.7% higher than N4 billion in the previous comparable year. Out of the total premium earned, it paid a claim and underwriting expenses of N2.065 billion and N2.082 billion respectively (that’s N4.14 billion). While these core insurance expenses are 47% higher than N2.8 billion paid in 2019, due to an unusual claim expense of N1.4 billion between July-Sept 2020, it is still well below the N4.8 billion income earned.Continue reading “1 Penny Stock That Could Soar If The Bull Returns”