The Panic-Proof Portfolio (Stockchase Research)
Co-operators Ins. Preferred 5.0% Perpetual
CCS.PR.C-T
TOP PICK
Jun 06, 2024
Stockchase Research Editor: Michael O'Reilly
As the Canadian central bank has begun to reduce interest rates, preferred shares should benefit. We reiterate CCS.PR.C as a TOP PICK. CCS holds $58 billion in assets and has served the Canadian market for 78 years operating as a multi-line insurance cooperative and these preferred shares offers a great yield. We continue to recommend a stop at $17, looking to achieve its par value of $25 -- upside potential over 30%. Yield 6.5%
Preferred series C 5%. (CCS.PR.C-T). This can be redeemed in 2016 at $25. Currently trading at $24.31, below its par value. It gives you yield of 7.36%.
In times of uncertainty, holding high-quality dividend paying preferred shares is a good strategy. We reiterate CCS as a TOP PICK as it is a well diversified insurance company in a safe market space. We recommend trailing up the stop (from $17) to $20, looking to achieve $25 — upside potential of 12%. Yield 5.6%
As the Canadian central bank has begun to reduce interest rates, preferred shares should benefit. We reiterate CCS.PR.C as a TOP PICK. CCS holds $58 billion in assets and has served the Canadian market for 78 years operating as a multi-line insurance cooperative and these preferred shares offers a great yield. We continue to recommend a stop at $17, looking to achieve its par value of $25 -- upside potential over 30%. Yield 6.5%