Norman LevineMorneau Shepell IncMSI.TOPAST TOP PICKNov 08, 2016

They've done acquisitions in the US and UK. They own the market in Canada and had to expand beyond. They paid a rich price for their purchaes. Well-managed and is growing its dividend.

A steady-Eddy stock. Well-diversified. Dividend is fine with a decent yield. Stick with it. They are growing their business through small acquisitions.

Is the dividend safe? He has owned it for quite a while and it has never raised the dividend – although they could he feels. They have been selling it at these levels and feels the dividend is safe. He feels there is no headline risk associated to the Finance Minister.

It has been a favourite for him for some time. He bought it for income but it is providing some growth as well. They are overdue to raise their dividend but they are using their cash to grow. He does not mind that. He is buying for new clients. It’s a little rich but he is still buying it because there are some onetime items and the PE ratio is not too bad.

We are in a market where things that have been working have changed over the last couple of years. When that happens, institutions look at their investment managers to see if they’ve been keeping up or not. Because markets have been going through structural changes and institutions have been going through reallocations, there are lots of searches going on for managers. This company is right in the heart of that business and participates. It has been a pretty good performer and he would have no trouble owning the stock.

A pension consultant type of company. It’s a good company and well-managed. This is a competitive business, but the stock has done pretty well this year. Pays a decent dividend and the dividend is fully covered. It’s pretty small for his company. Dividend yield of 3.5%.

Valuation is pretty decent, and actually trades at a discount to its US peer group. It is a large player in Canada. Ultimately it should continue to benefit by growing in the US. Has a very decent free cash flow yield. Has a very predictable reoccurring revenue model that will support its earnings growth. (Analysts’ price target is $24.)

It pays a reasonable dividend. Their business slowed down recently. It is not as attractive as it used to be. It is a fine company. The dividend is safe.

The biggest in pension and administration and outsourcing of HR stuff. It is diversifying into the US. The dividend is quite safe.

Originally started out as a pension benefits consultant, and has moved into EAP (Employee Assistance Program). They are growing their US business. Very stable business, and about 90% of the revenue is recurring. Expects this will continue to grow in the US.