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From Tom Dyson and Grant Wasylik at The Palm Beach Letter: If you teamed up with us on our February 2012 recommendation, you’re about to lock in one of the largest gains in Palm Beach Research Group history…
Here’s what my chief analyst wrote about insurance company Symetra Financial Corporation (NYSE: SYA) at the time.
Back then, investors hated insurance…
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In my experience on Wall Street, the really big wealth comes from buying a stock like Symetra. But in investing, you have to buy before the good news breaks. Otherwise, you’ve missed out on the opportunity. Now is the perfect time to buy Symetra. Nobody is looking at it. It’s trading at 43% of its book value. It’s cash-rich (with a $1.82 billion surplus). It’s cheap. And business is booming. Symetra is exactly the kind of stock we loaded up on in our portfolios when I worked at a hedge fund. It’s the type of stock we made millions on. No risk… just big gains. It makes money while we sleep. |
On August 7, reports began to swirl that this “Warren Buffett-approved” insurance company was up for sale. SYA shot up 29% over three trading days.
Then, on August 11, Symetra verified the rumors.
They announced a definitive merger agreement with Sumitomo Life Insurance Company. This Japanese insurer is acquiring all outstanding shares of Symetra in an all-cash deal.
It’s time to sell now and book a 250% gain over a three-and-a-half-year holding period.
If you missed out on Symetra, PBL’s August issue offers two new “sleeper” stock recommendations from the financial space. Both offer outsized return potential… almost 100% higher than the long-term averages of their class.
To gain instant, 100% risk-free access to these two picks, click here (there’s no long sales video). If you’d like to learn more about The Palm Beach Letter, click here.