26/03/2025 09:50

Helia (HLI) $3.66

We covered HLI earlier in the week (here) as the stock fell ~25%. It appears highly likely that they’ll lose their exclusive contract with CBA as the provider of choice for Lenders Mortgage Insurance (LMI), which accounts for around 44% of their Gross Written Premium (GWP).

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24/03/2025 16:59

Helia (HLI) $3.61

HLI –25.57%: Big move today for the Mortgage Insurer after providing an update on their largest client, CBA, who last year put their existing contract with HLI up for tender, with a decision due in December this year.

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25/02/2025 17:20

Helia (HLI) $5.67

HLI +17.15: Kicking ourselves on this one with HLI (the old Genworth Mortgage Insurance) holding a heap of excess capital which has underpinned a big special dividend and an increase to their on-market share buyback.

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12/12/2024 09:34

Helia Group Ltd (HLI) $4.42

Helia Group, formerly known as Genworth Mortgage Insurance Australia, specialises in lenders mortgage insurance (LMI). This insurance helps mitigate risks for lenders by covering losses in high loan-to-value ratio residential mortgage loans, primarily in Australia. There are a few moving parts here when we think about HLI’s exposure to falling interest rates.

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30/08/2024 09:36

Bega Cheese Ltd (BGA) $4.66

Australian dairy producer BGA soared +9.4% on Thursday, enjoying a rare day as the main board's top-performing stock. The stock hit a 52-week high in the process, following a swing back into profitability in fiscal 2024 and forecasted EBITDA for FY25 that was ~1% ahead of expectations.

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21/08/2024 09:22

Helia Group (HLI) $4.06

The mortgage insurer reported 1H24 results yesterday that were solid, with an underlying net profit after tax of $106.5m and a fully franked interim dividend of 15cps, equating to  a 3.7% yield for the half, or 5.2% inclusive of franking. With considerable excess capital on their balance sheet, we think HLI is in a strong position for further capital management, publicly stating their preference for fully franked dividends, then on market share buy-backs, and lastly, special dividends when profits for a particular period are high.

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26/06/2024 09:28

Helia Group (HLI) $3.91

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28/03/2024 09:37

Helia Group (HLI) $3.86

HLI is an Australian-based company that provides lenders with mortgage insurance (LMI). The former Genworth Mortgage Insurance has been an unheralded strong performer over recent years, although it endured a savage correction over the last few weeks. About 30% of the correction was down to dividends, but competition from the federal government First Home Guarantee has become a meaningful headwind, along with subdued credit growth.

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27/02/2024 09:08

Bega Cheese Ltd (BGA) $4.31

Last week, BGA surged to its highest level in 20-months after its earnings beat estimates last week – the stock has now bounced over 75% from its late 2023 low.

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17/11/2023 09:24

Bega Cheese Ltd (BGA) $3.00

Dairy foods business BGA is trading more than 60% below its dizzy heights back in 2018 as dairy processing remains an industry under pressure. Yet, from a valuation perspective, the stock is still not exciting given the trajectory of earnings.

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