no major hurricanes, and in the last 90 days, estimates moved up a nickel. ONLY A NICKEL!!!!!!!!!! on a P/E of what? this thing is cheap. a heavy cyclical like a homebuilder or auto company is supposed to trade at 8x peak earnings. not a cash monster that keeps beating and raising the dividend. look for another big cash hike in new year :)
The "buying biz" and "losses catch up to earned" stuff are vague, unspported claims from an anonymous basher.What are facts are that recent earnings have been booked well beyond expectations leading to a rising earnings outlook,combined with earnings recent stock buybacks have taken book value up by about $5 a share YOY and Moody's has recently released that the TRV credit rating is on positive watch indicating an increase in the offing.
it makes sense. FT has an article on how tough earnings season has been on wall street. 9% retreat last quarter. that puts trailing 12 months S&P well north of 20. and TRV is 8x earnings. gotta love it