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    Your thoughts on Helia Group (HLI)

    Wondering what your thoughts on HLI? I can’t find any history on your site. It’s engaged in mortgage insurance, seems profitable, had several iterations & capital returns over last 5+ yrs. So being in the insurance & finance space it seems dependent on interest rates, consumer cycles, real estate prices and banking trends (& rules). Market Cap anround $1.35B. I’d appreciate some of your excellent coverage. Thx Glenn PS I always appreciate your considered responses to questions though sometimes I’d like to make it a larger conversation because you often raise points that are better handled with further discussion. ✔️

    Answer

    Hi Glenn,

    Thanks for the vote of confidence! HLI is the previously named Genworth Mortgage Insurance (GMA) which you will find on our site: GMA/HLI.

    We have also added a company page for HLI so you should now be able to search by HLI code.

    We have owned the stock in the past in the Income Portfolio. It’s a complicated business, but essentially, we think of it like a bank on steroids in so far as their exposure to the mortgage market, and when bad debts are so benign, they can release capital which has been the big driver of their returns.

    They’ve rallied strongly over the last few years, a trend we believe could well continue through 2024. We like HLI into its current pullback under $4.50 with its forecasted 6.3% yield over the next 12-months very appealing – however, note the company reports next Tuesday the 27th.

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    Helia Group (HLI)
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