3i Group 👁👁👁 - iii - Stock Discussion

Damn can’t read it all.
Anyway it has little debt.
It normally trades on premium of at least 20%
Plenty of money from action.
Just sold a company for a 50% uplift. So has a lot of cash coming in from that sale.
Action is discounter something you want in a recession. It appeals to the middle class as well as the working class.

Overvalued? Well the only way really to find that out is if you go to market…not going to happen any time soon.

As an aside I bought NBPE recently.
Normally on 20 discount bought on a 30% discount so not that great a purchase.
1 I think the discount is overdone.
2 Its discount could fall significantly due to the large amount of vintage investments ready to be sold off.
3 big dividend which is very attractive in private equity sector.
From Hargreaves Lansdowne RNs

Highlights (as of 31 January 2023)

NAV per share of $28.19 (£22.90), a total return of 2.6% in the monthly performance driven by increase in quoted holdings,
Q4 2022 private company valuations and positive FX adjustments
50% of the 31 January 2023 valuation information as of 31 December 2022 or 31 January 2023
First 2023 semi-annual declared dividend of $0.47 per share$300 million of available liquidity, and a further $27 million of proceeds expected in the coming months

Bought the 7th February up 10% already. Very lucky timing.

This one keeps on rising.

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Presently up 30.65%
Could have done a lot better if i had concentrated on this share. Bought it 17 times since the end of June.
First purchase £11.07p today bought at £19.56p. Share £19.98.
Premium 13%.
Long way to go. My opinion obviously.

3i falling for the last week or so.
Since exdivided.
Last year’s 1st quarter update was 21 July
This morning only on a 9% discount (Hargreaves Lansdowne)
Already said action doing great as in 20% increase in revenue. EBITDA increases are normally significantly higher than revenue increases.
Supposedly (I haven’t bothered doing the maths) NAV increased at 5% a month last year.
That would put them on a discount right now.

New peak for 3i group at 2104p
7.73% premium (according to HL). Well below it’s normal premium.

New peaks almost daily!
Presently 2388p and 26% premium.
Not sure when next nav update is until then expensive but not Unusually expensive.

Latest NAV update 2034p 1st February 2024

Share price Sell:2,413.00p Buy:2,415.00p
Year high 2507p

Dividend 2.2% Average increase per year around 12%.

Action its biggest holding at around 70% of NAV.

Therefore 2 risks
1 A big premium in a sector where the majority trade on big discounts
2 single company risk.

50% of my isa…pushing my luck! I may put some into Oakley if it ever becomes available.

I regret missing the boat and not buying this while it was on a discount.

No way am I buying it a 25%-plus premium now.

Ah well, can’t win 'em all, one day another buying opportunity will arise but it could be long time.

Correct you can’t win them all.
I have reduced from 52% plus to just under 28%.
Not easy as 3i just keeps on creeping up.
Buying REITs and renewables. On average they have done nothing.
Today’s update from 3i on Action has as usual meant another jump in the share price.
Just knew I should have waited for the normal march update on Action, before starting to sell and buying some REITs and renewables!

Down 4% today. Update less than expected?
Probably profit taking as valuation were more or less signposted with Actions update last month.
On the other hand

Close to where they were before the update up 2.4% yesterday.