| TOP PICK | 40.300 | Jeff Parent | Financials are bottoming out and turning around. Think they will add a lot to the TSX until the end of the summer. Chart shows a bit of a double bottom. $37.50 would be his stoploss. | 2008-05-02 | |
| DON'T BUY | 38.500 | Paul Thornton | This was a stock that was going lower long before the mortgage problems started. Can't see any growth here. | 2008-04-11 | |
| DON'T BUY | 36.980 | Norman Levine | Property/casualty insurance division in Canada for the Dutch ING bank. The insurance cycle has not been that great for them. Also, investment returns have not been that great. Longer term, a good one to own, but in the near term he doesn't see a catalyst for it. If you own, try to sell on rallies. | 2008-03-10 | |
| Comment | 39.580 | Norman Levine | The biggest property/casualty insurer in Canada. Long-term outlook is good. Near-term, margins have been under pressure. You may not see a lot of upside in the next 6 to 12 months but probably a good place to be looking out over 4 or 5 years. | 2008-01-07 | |
| SELL | 39.170 | Paul Thornton | (Market Call Minute) | 2007-11-21 | |
| TOP PICK | 43.660 | Michael Smedley | Property and Casualty insurance. A leader in Canada. Being a little speculative on the concept that parent ING may decide it doesn’t ant to be public. A good conservative Hold. | 2007-09-24 | |
| DON'T BUY | 45.330 | Bruce Campbell | There wasn't much upside at $51. Valuation was okay, but growth was low.
| 2007-06-05 | |
| WATCH | 46.220 | Ross Healey | Fair market value has been calculated at $84, which means the stock is very cheap.
Some risk at the $43 or $44 mark, but if it gets there it would be a BUY.
Upside is $60. | 2007-06-01 | |
| BUY | 47.380 | Michael Sprung | Has been looking at a lot of the Property & Casualty insurers which have been having some losses. Doesn't think this is going to go on forever and this is getting into an area where it could be a buy. | 2007-05-28 | |
| HOLD | 47.660 | Brian Acker, CA | Had a bad quarter in terms of their insurance. His model price is $56.29, an 18% positive differential, but the model price is dropping. The next major bottom would be about $41.44. | 2007-05-24 | |
| BUY | 48.130 | Jean-Francois Tardif | This type of stock you buy when earnings are below normal, and sell it when earnings are above normal. Right now it's close to below normal.
A very well managed company.
Not his type of stock because it's too big and the growth rate is too low. | 2007-05-22 | |
| DON'T BUY | 48.110 | Norman Levine | Largest property/casualty insurer in Canada. The insurance cycle has not been that good for them. Return on their investments portfolio has been sub par. Until there is a catalyst that changes this, he wouldn't want to own. | 2007-05-18 | |
| BUY | 50.070 | Patrick Kim | One of the pre-eminent property and casualty companies. Good price. Fantastic track record of having some of the highest ROE’s in the business. Good management team. | 2007-05-14 | |
| SELL | 49.000 | David Burrows | Well out of favour. Has been falling over the last year. Can't see any support. | 2007-04-24 | |
| Comment | 50.160 | Norman Levine | Property/casualty. A cyclical business. If you are a long-term player, this is the premier company and consolidator in the business. In the near-term, it will probably show some further weakness. | 2007-04-16 | |
| DON'T BUY | 51.100 | Michael Sprung | Down because of concerns of the nature of property and casualty market. Had a period of good profitability, so may be in for a period of uncertainty. 10%-15% lower would be in his price target. | 2007-04-11 | |
| DON'T BUY | 51.780 | Bruce Campbell | Pretty close to being fully valued. | 2007-03-06 | |
| BUY | 51.320 | David Driscoll | A long-term hold; so don't sell because the stock has been dropping in the last 3 to 6 months. Free cash flow is being generated and dividends are rising. Price decline is a buying opportunity. | 2007-02-15 | |
| BUY | 52.700 | Stephen Carlin | Property-casualty business. Best company in Canada. Has been suffering over the last 3-4 quarters due to higher claims ratios and auto insurance pricing being a little challenging in Ontario. Claims look like they're stabilizing. Doesn't expect much earnings growth. | 2007-02-14 | |
| TOP PICK | 52.980 | Chyanne Fickes | Trading at 9 X earnings, which is ridiculous for a company of this quality. Earnings are expected to grow quite nicely this year. Did not get impacted by the weather last fall as was expected. Great management. | 2007-02-06 | |
| BUY | 51.710 | John Zechner | Valuations are pretty extended relative to the group. He has been treating it as a trading stock between the high $50 to the low $50. Has recently been adding to the position. | 2007-01-22 | |
| SELL | 52.840 | Charles Lannon | A lower margin business. Its parent has been suffering lower margins as well. They'll struggle to retain share going forward. | 2007-01-09 | |
| DON'T BUY | 52.700 | Jeff Parent | It's at the low level in a trading range, but one thing that scares him is the trading range is bound by the $51 mark and $53.25 is a critical support level. A rally should have occurred by now so he feels there could be more sellers. | 2007-01-02 | |
| DON'T BUY | 52.530 | David Cockfield | Well run company. Has made good penetration in Canada. Doesn’t see a lot of downside, but also not much upside. | 2006-12-27 | |
| HOLD | 53.900 | Gavin Graham | Property and casualty insurance. Stock price has gone nowhere for most of last year. Had a couple of good years. Very well run company. | 2006-12-07 | |
| DON'T BUY | 55.640 | David Baskin | Prefers the parent company, ING Groep NV (ING-N). It was hot in the beginning, but hasn't done much lately. With the parent company, you get a bigger spread of business. | 2006-11-21 | |
| Comment | 54.930 | James Cole, BA, CFA | Doesn’t like its dual class stock. They’ve done exceptionally well. | 2006-11-13 | |
| DON'T BUY | 58.890 | John Zechner | Have had a great run since going public. Earnings continue to beat expectations. Think the cycle is slowing down a little, so is getting a little leery. | 2006-11-08 | |
| HOLD | 54.950 | Michael Smedley | This is an asset of tremendous quality. Easily the most aggressive acquisition philosophy of the banks. Keep as a long-term investment. | 2006-08-24 | |
| BUY | 54.190 | David Driscoll | Has been going sideways as have been most of the Canadian banks because we are going through a change of rising interest rates. Nothing wrong with owning this, you just have to have a longer time horizon. | 2006-08-17 | |
| SELL | 53.870 | Larry Berman CFA, CMT, CTA | Has been very surprised at how well it has hung in here. Haven't had the economic downturn yet that necessitates the tightening and thinks that is still coming. This would give you another leg down. | 2006-07-24 | |
| HOLD | 53.210 | Michael Smedley | A very strong, progressive pursuer of acquisitions. Expects it to continue to be brilliantly managed. | 2006-06-22 | |
| DON'T BUY | 56.700 | Gordon Higgins, CA, MBA, CFA | Have made some very successful acquisitions. With this stock, you have to count on acquisitions. Fully valued. | 2006-06-07 | |
| HOLD | 56.400 | Ross Healey | Probably has the best upside of all the Canadian insurers and banks. His fair market value is about $70. Stock has been behaving quite nicely. Well run organisation. | 2006-05-29 | |
| DON'T BUY | 59.000 | Brian Acker, CA | His model price is $59.49 so it is not mispriced. | 2006-05-10 | |
| BUY | 59.070 | John Zechner | A cyclical market. Will go into a downturn at some point, but for now they have done better than what has been expected. Valuation is not too bad. Could be doing an acquisition soon. | 2006-04-26 | |
| TOP PICK | 55.890 | Gavin Graham | The biggest property/casualty company in Canada. Consistently makes money on their insurance. Have a lot of distribution channels. Just raised their dividend. | 2006-04-11 | |
| DON'T BUY | 54.760 | Gordon Higgins, CA, MBA, CFA | The whole story here is growth and consolidation. Did some amazing acquisitions and were able to pull the costs out but it's already reflecting the next acquisition. | 2006-04-05 | |
| BUY | 56.000 | Ian Nakamoto | The property/casualty industry is fragmented and they are one of the leaders in consolidating that business. An excellent company. | 2006-01-31 | |
| BUY | 51.440 | Michael Smedley | This is more racy then buying one other major insurance company. It is very interesting, high-performance casualty firm. Feels it will be good and solid and a good one to acquire. If there is a temporary pitfall, he probably would be a buyer. | 2006-01-03 | |
| BUY on WEAKNESS | 45.800 | Fred Pynn | Property and casualty business in Canada is highly fragmented and this is the largest player. There is some opportunity for consolidation. This company has done extremely well since its IPO. Would buy this piece by piece when there is weakness. | 2005-11-30 | |
| SELL | 45.150 | Mark Jackson, CFA | Not a fan of the property/casualty business because it's very cyclical and a very competitive market place where margins can get squeezed very quickly. They are probably at their best profitability that they've seen for some time and it's likely to turn down. | 2005-11-15 | |
| BUY | 43.780 | Norman Levine | There are hundreds of small property/casualty companies and this company would like to be a consolidator. A wonderful operator. | 2005-09-20 | |
| BUY | 44.800 | Brian Acker, CA | A good buy. His model price is $52.69. | 2005-09-07 | |
| BUY | 36.400 | Gavin Graham | On his radar screen. Likes it. The only big general property/casualty that's available in Canada. A cyclical business and we are somewhere near the top of the cycle. Very efficient. | 2005-08-08 | |
| BUY on WEAKNESS | 34.100 | Jonathen Wellum, B. Comm, B. Sc | Likes the business in Canada. It's a tough and fragmented business and management has shown that they can make prudent acquisitions and drive costs out. Further consolidation will be needed to drive it further. | 2005-07-19 | |
| DON'T BUY | 32.880 | Norman Levine | Has become the dominant property casualty insurance company in Canada largely through acquisitions and attrition. Would wait for it to sell off before buying. | 2005-05-25 | |
| BUY | 32.900 | Gavin Graham | One of the leading property/casualty companies. Really good 1st quarter numbers. Could be an acquirer. | 2005-05-16 | |
| BUY | 33.590 | Gordon Higgins, CA, MBA, CFA | Cheap. You have to watch out for compression of the auto insurance underwriting ratio. Auto insurance is a volatile business. This is why it trades at a cheap multiple. Had an awesome earnings year. Made a very significant acquisition which entails an integration risk, but the numbers seem to be coming in. | 2005-05-03 | |
| BUY | 32.700 | Paul Harris, CFA | Property and casualty has had some nice pricing pressure over the last little while. Relatively cheap. Good company. | 2005-03-28 | |
| BUY | 34.000 | Fred Pynn | Well run. Unlikely to see another pop in price in next 6 months. Solid long term investment. | 2005-03-03 | |
| DON'T BUY | 33.830 | Michael Sprung | Good market for insurers. No one making claims. Shaving off profits as the years to come. | 2005-03-01 | |
| BUY | 33.900 | Norman Levine | Right now is a very good time to be in the property/casualty business in Canada. Fundamentals are very good. Longer term property/casualty is cyclical, so not a Buy and Hold. | 2005-02-23 | |
| BUY | 29.290 | Gavin Graham | Large property/casualty insurer which was spun out from the ING Bank. Reasonably priced and there is a decent dividend. Well run. | 2004-12-30 | |
| BUY on WEAKNESS | 28.770 | Bill MacLachlan | Thought the new issues was priced at the higher end of expectations. There is no doubt there is a huge appetitie for this kind of quality stock. Could easily move up 10% in the next 12 months from the issue price. | 2004-12-17 | |
Experts that have talked about ING Canada Inc.
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