Power Financial Corp (PWF.TO) Buy, Sell or Hold

Power Financial Corp (PWF.TO)

36.31

-0.00 (0.00%)

as of Feb 19, 2020, 9:00:00 pm Market Open.

229 watching

COMMENT

Strategy of 50% in 24-year corporate bonds and 50% common shares? As long as you have other assets in your portfolio. 70% of their net asset value is in Great West Life (GWO-T). From a liquidity purpose he would stick to Great West Life for the shares and stay with the bonds.

HOLD

Largest shareholder in IGM Financial (IGM-T), which owns Investors Group, Canada Life, Great West Life and London Life. 6.2% yield.

TOP PICK

Very cheap and owns one of the most conservative of the insurance companies, Great West (GWO-T). Had to take a markdown on the mutual fund operation Putnam in the US that was acquired just before the wheels fell off the market. Still an attractive stock.

HOLD

Hard to see why the stock price is so low. As a broad exposure. Seems to have been caught in this general downdraft. 9.5% yield.

COMMENT

Holds Great West Life (GWO-T), which has less exposure to the market than Manufacturers Life (MFC-T). Also has the Investors Group (IGM-T). This is a way of investing in the market, leveraged to the market and if there is a turnaround this should do better than the market as a whole.

BUY

(Market Call Minute.) Likes financial services and gives a 6% yield.

COMMENT

Preferreds. A lot of preferred shares are not holding up price wise. If looking at preferreds today, it is important to try to get resets. (Some preferreds reset interest rates after a period of time.)

BUY

Good holding for longer than 3 or 5 years. Excellent assets through Great West Lifeco (GWO-T), Investors Group (IGM-T), etc. Have got hurt in this market but for the long-term is a relatively safe place to be.

TOP PICK

Owns Investors Group, London Life, Mackenzie Financial and Great West Life. 6% yield. Trades at 3 X cash flow and 6 X earnings. You get paid to wait until the economy turns around.

PAST TOP PICK

(A Top Pick Dec 7/07. Down 46%.) Dropped along with the rest of the financials. Nothing wrong with it. Wouldn't Buy at this time.

DON'T BUY

(Preferred A.) Owns Investors Group, which is cheap and has tons of free cash flow. Also owns insurance and there are some issues with insurance companies and it is hard for investors to know what is going on.

BUY

If you have a long-term time arising, you can buy this one. All these great companies are trading at the lowest multiples they have ever traded at.

COMMENT

Their big holding, Great West Lifeco (GWO-T), has been inordinately hit because of credit problems of the insurance group, even though they are by far in the best shape. As it recovers, this one should as well.

BUY

(Market Call Minute.)

PAST TOP PICK

(A Top Pick Sept 28/07. Down 25%.) Still likes. Their Great West Life (GWO-T) holding is probably one of the more conservative insurance companies. He is continuing to Hold.

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Power Financial Corp (PWF.TO)