CNO

The Mortgage Refinancing Boom Could Be Ending

by

Early Wednesday morning, the Mortgage Banker’s Association (MBA) announced that refinancing activity declined 20% from one week earlier. Adjusted for the Labor Day weekend, total mortgage applications dropped 13.5% from the previous week. Consistent with the dramatic upward movement in interest rates, refinancing activity is down 71% since it peaked during the week of May 3, 2013. Why Do We Monitoring Refinancing Activity? When homeowners refinance, a couple outcomes can occur that pump more dollars into the economy. First, with a refinanced mortgage, owners may choose to take equity out of the home, allowing for large purchases like vehicles or even home remodeling. CoreLogic recently reported that 2.5 million more residential properties have returned to positive equity in the second quarter … Read more

Raising Our Fair Value Estimate on Berkshire Hathaway, Our Thoughts on the Insurance Industry

by

Image Source: AIG Competitive Structure of the Insurance Industry Constituents in the insurance industry earn revenues primarily from insurance premiums, policy fees from life insurance/investment products, and income from investments. Operating expenses consist of policyholder benefits and claims incurred, interest credited to policyholders, commissions and other costs of servicing products, as well as general business expenses. An insurer’s profitability is dependent on its ability to price and manage risk on insurance and annuity products, to manage its portfolio of investments effectively, and to control costs through expense discipline. The insurance industry is highly competitive, with rivals numbering in the thousands–including stock companies, specialty insurance organizations, life insurers, mutual companies, other underwriting firms, and banks. Though risk-acceptance criteria, product pricing, and … Read more

How to Think About Corporate Tax Reform

by

Dividend Increases/Decreases for the Week of May 2

by

Below we provide a list of firms that raised their dividends during the week ending May 2. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week                          American International Group (AIG): now $0.45 per share quarterly dividend, was $0.40. American Water Works (AWK): now $0.8275 per share quarterly dividend, was $0.7650. Apple (AAPL): now $0.26 per share quarterly dividend, was $0.25. Apollo Global Management (APO): now $0.51 per share quarterly dividend, was $0.46. Atkore (ATKR): now $0.33 per share quarterly dividend, was $0.32. Bachem Holding AG (BCHMF): now CHF 0.85 per … Read more

Nelson: The 16 Most Important Steps To Understand The Stock Market

by

A previous version of this article appeared on our website July 21, 2013. Refreshed and updated throughout, as of July 2018. By Brian Nelson, CFA After earning my MBA at the University of Chicago Booth School of Business and training stock and credit analysts from large organizations over the past decade or so, I have heard just about every question (though I admit I am still surprised by many things and remain a very humble student of the markets). I’ve also spent years perfecting the discounted cash flow process for large research organizations such as Morningstar and studied under one of the most famed aggressive growth investors of all time, Richard Driehaus. My knowledge runs the gamut from value through … Read more

Stock Market Outlook for 2021

by

By Valuentum Analysts February 8, 2021 2020 was one for the history books. We covered our thoughts and reflections on the past year in our “2020 Won’t Soon Be Forgotten” article (link here), and now we are looking towards the future. Global health authorities should be able to bring an end to the ongoing coronavirus (‘COVID-19’) pandemic sooner than many had expected as several vaccines have already been improved for emergency use and several others appear increasingly likely to get approved. Global vaccine distribution activities are currently underway, and this should allow the world to slowly return to pre-pandemic activities. Before then, immense stimulus measures launched primarily in developed nations should support global economic activities until the public health crisis … Read more

Update: Frequently Asked Questions About Valuentum Securities, Inc.

by

What is Valuentum Securities? Valuentum (val∙u∙n∙tum) [val-yoo-en-tuh-m] Securities Inc. is an independent investment research publisher, offering premium equity reports and dividend reports, as well as commentary across all sectors/companies, a Best Ideas Newsletter (spanning market caps, asset classes), a Dividend Growth Newsletter, modeling tools/products, and more. Independence and integrity remain our core, and we strive to be a champion of the investor. Valuentum is based in the Chicagoland area. Valuentum is not a money manager, broker, or financial advisor. Valuentum is a publisher of financial information. How do I subscribe to Valuentum’s investment research services? 1)    Click the following link: signup-page. 2)    Select your membership plan. 3)    Enter your contact details. 4)    Click ‘Sign Up.’ 5)    Complete your purchase. 6)   Your payment profile may be recurring, so please check … Read more

Why We Don’t Like Dividends of Banking Firms: 4 Very Good Reasons

by

Untermyer: Is not commercial credit based primarily upon money or property? Morgan: No, sir. The first thing is character. Untermyer: Before money or property? Morgan: Before money or anything else. Money cannot buy it … a man I do not trust could not get money from me on all the bonds in Christendom. –Mr. JP Morgan’s testimony before the Pujo Committee (questioning from Samuel Untermyer), 1912-1913 Reason #1: A Bank Run Is Always Possible Though the history of banking dates back to as early as 2000 BC in Babylonia, the makings of the present-day banking system in the US really didn’t take hold until the beginning of the 20th century. Some financial historians may argue for a later date, but we … Read more

Dividend Increases/Decreases for the Week May 7

by

Below we provide a list of firms that raised their dividends during the week ending May 7. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week 1st Constitution Bancorp (FCCY): now $0.10 per share quarterly dividend, was $0.09. Algonquin Power & Utilities (AQN): now $0.1706 per share quarterly dividend, was $0.1551. Allied Motion Technologies (AMOT): now $0.025 per share quarterly dividend, was $0.020. Arbor Realty Trust (ABR): now $0.34 per share quarterly dividend, was $0.33. Armada Hoffler Properties (AHH): now $0.16 per share quarterly dividend, was $0.15. Atlantic Union Bank (AUB): now … Read more

Dividend Increases/Decreases for the Week Ending May 8

by

Below we provide a list of firms that raised their dividends during the week ending May 8. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Agree Realty (ADC): now $0.60 per share quarterly dividend, was $0.58. Algonquin Power & Utilities (AQN): now $0.1551 per share quarterly dividend, was $0.1410. Ameriprise Financial (AMP): now $1.04 per share quarterly dividend, was $0.97. B2Gold (BTG): now $0.02 per share quarterly dividend, was $0.01. Baxter (BAX): now $0.245 per share quarterly dividend, was $0.220. Brookfield Infrastructure (BIPC): now $0.485 per share quarterly dividend. Century Next … Read more