Opinions
The Panic-Proof Portfolio (Stockchase Research)
Co-operators Ins. Preferred 5.0% Perpetual
CCS.PR.C-T
TOP PICK
Jun 06, 2024
N/A
Stock price when the opinion was issued
insurance
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TOP PICK
Stockchase Research Editor: Michael O’Reilly
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%