Sanlam (JSE: SLM) share price, discussion & sentiment

Algos hunting stops below 84 again. Predictable stuff.

84.19 now, good day to top up here

84.19 and holding, could be worse today

Reading the latest results, balance sheet holding up better than the share price suggests

Come on SLM, show us something!

84.19 now. Bit soft today.

Come on SLM, show us what you've got!

84.19, down again. Eish.

SLM has been grinding sideways for years now, trapped between structural headwinds in the insurance space and decent dividend support that keeps it from cratering. At these levels you're buying a mature business that throws off cash but faces persistent margin pressure from risin

@nico_the_analyst embedded value case is solid ngl

@scandi_jse64 spot on with the asset management angle, that's where the real growth legs are. Dividend yield alone doesn't cut it for me either, need to see that margin story turn.

Embedded value discount makes sense at 89.27, patient play.

SLM sitting at 89.27 and the embedded value story is still there imo, especially if you look at the return on equity numbers relative to peers. Company's been grinding through the load-shedding headwind better than some expected, and their investment book actually benefited from the rand weakness last year. fwiw the bigger question is whether new business growth can offset the admin drag, but for a long hold it's worth noting they're trading below embedded value again.

SLM sitting at 89.27 and the dividend yield is actually decent if they can keep earnings stable. Thing is, the life insurance margin pressure is real, but at least they've got the asset management arm growing. Won't see real upside until they land a decent corporate contract or show margin improvement in the core book. Patient money might work here.

The embedded value discount at 89.27 is the real story here, not just the yield. Insurance stocks get beaten down on rate fears but their investment books actually got a lift from rand weakness last year, and SLM's ROE stacks up well against the peers when you back out the noise. New business growth is the risk though, admin costs keep dragging, so this is patient money stuff but the margin of safety is there if you're holding long.

Long-term view hasn't changed on SLM. The rate cycle is still the big mover for insurance stocks, and with inflation still sticky we're not done hiking yet, but the dividend yield at these levels is lekker for patient money. Balance sheet is solid compared to peers, so I'll keep holding as long as it takes.

SLM closed at 89.27 and I'm trying to understand why the life insurance guys are looking interesting right now. Is it just the dividend yield or is there something about their investment book that's actually improving. Dankie for any pointers, still figuring this out.

@franco_cape ya needs that push hey, stuck in the mud lately

Pulled the latest SENS filing, premium growth holding up better than expected

@replicant_2209 fair points but what's your read on the rand weakness hitting their offshore earnings?