General Accident Insurance advises that it has successfully applied for graduation of its listed ordinary shares from the Junior Market to the Main Market of the Jamaica Stock Exchange, which will take place effective September 27,
General Accident spreading wings
According to the company, since being listed on the Junior Market over ten years ago, the Company has grown its gross written premium almost seven-fold. In addition to its market leadership in Jamaica, the Company has established a regional presence in Barbados and Trinidad. The Directors of General Accident believe the successful application reflects its growth, increasing scope and ability to comply with the applicable governance standards for companies listed on the Main Market.
The company with more than $15 billion in annual premium income reported a profit of $577 million last year and $246 million for the six months to June this year up from just $41 million for the same period in 2022. ICInsider.com projected profit of more than $1 billion for 2023.
The move follows Eppley another member of the Musson Group that migrated from the Junior Market in December 2018.
Trading closed with the JSE Combined Market Index dropping 2,501.16 points to end at 331,121.76, the All Jamaican Composite Index rose 672.31 points to 352,341.68, the JSE Main Index dived 2,517.03 points to finish at 317,837.17, the Junior Market Index fell 16.66 points to finish at 3,775.22 while the JSE USD Market Index rallied 2.11 points to finish at 244.70.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, with companies grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Elite Diagnostics had a bad fiscal year to June, with a loss of $1.7 million in the June quarter and a profit of only $2.8 million for the year, down from $49 million in 2022. With finance cost jumping to $47 million from $27 million the previous year while depreciation climbed by $41 million to $148 million. ICInsider.com expect revenues to keep on climbing at a above average rate and for cost to increase at a slower pace and deliver an attractive profit which is projected at 40 cents for the year. Recent history suggests that forecasts can be derailed by unforeseen developments, but the stock is worth while looking at as a medium term investment that is undervalued relative to potential.
The Junior Market ICTOP10 closed the week with General Accident rising 10 percent to $4.94, followed by Caribbean Assurance Brokers, up 6 percent to $2.83 as Iron Rock Insurance dropped 9 percent to $2.10 and Everything Fresh dipped 5 percent to $1.30.
The markets are not in a bullish state but there continue to be cases of slow upward movements in some prices as investors respond to some recent attractive results leading them to quietly nibble away at a number of stocks, gradually reducing the supply of a number of them that are attractively priced. The list includes stocks such as Access Financial, AMG Packaging, Everything Fresh, Dolphin Cove, Caribbean Cream, Caribbean Assurance Brokers, Lasco Distributors and Lasco Manufacturing, Main Event and Transjamaican Highway.
closing unchanged.
PE ratios of Junior Market stocks are computed using the last traded price in conjunction with ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Indies Pharma rose 15 cents to $3.15 in switching ownership of 10,387 shares, JFP Ltd rallied 15 cents to close at $1.65 after 684,020 units passed through the market, Lasco Financial fell 8 cents to $1.82 with investors trading 12,245 stocks. Lasco Manufacturing popped 11 cents $5.32 after an exchange of 1,843 shares, Limners and Bards advanced 20 cents in closing at $1.95 with just 100 units changing hands, Lumber Depot dropped 15 cents to $2.05 with shareholders swapping 58,865 stock units, Main Event climbed $1.04 to end at $16.10 in an exchange of 115,807 stocks. Stationery and Office Supplies skidded 13 cents in closing at $1.84 after exchanging 482,073 stocks, 
Tropical Battery shed 7 cents and ended at $1.92 in an exchange of 132,500 units and tTech gained 28 cents to close at $2.48 while 1,035 stock units were traded.
At the close, the JSE Combined Market Index popped 1,615.58 points to end trading at 333,622.92, the All Jamaican Composite Index shed 490.45 points to finish at 351,669.37, the JSE Main Index gained 1,820.33 points to settle at 320,354.20, following gains in Guardian Holdings’ shares, the Junior Market Index shed 9.06 points to conclude trading at 3,791.88, while the JSE USD Market Index rallied 1.43 points to finish at 242.59.
Trading on the JSE USD market rose above Thursday and ended with investors exchanging 198,322 shares for US$20,612 from 110,725 units at US$10,600 on Thursday.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Investors traded 4,860,312 shares for $11,208,181 down marginally from 5,058,766 units at $11,709,970 on Wednesday.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and two with lower offers.
Future Energy Source climbed 8 cents and ended at $3.44 with trading in 1,407,267 stock units, General Accident gained 10 cents in closing at $5 with 40,200 shares clearing the market, Knutsford Express popped 50 cents to close at $11.50 as investors exchanged 1,249 stocks. Limners and Bards fell 15 cents to $1.75 in an exchange of 208,234 shares, Lumber Depot declined 8 cents to end at $2.20 with traders dealing in 9,921 units, Main Event shed 94 cents and ended at $15.06 after a transfer of 2,076 stocks, Medical Disposables dropped 15 cents and ended at $4.10 after investors exchanged 1,000 stock units. MFS Capital Partners fell 13 cents to end at $2.36 with a transfer of 66,700 stocks, Spur Tree Spices skidded 9 cents in closing at $2.04 while exchanging 571,162 stock units, 
Stationery and Office Supplies advanced 10 cents to close at $1.97, with 254,738 shares crossing the market and tTech dipped 15 cents to $2.20 after 100 units were traded.
At the close, the JSE Combined Market Index shed 517.56 points to end at 332,007.34, the All Jamaican Composite Index dropped 1,632.39 points to end at 352,159.82, the JSE Main Index skidded 707.07 points to 318,533.87, the Junior Market Index popped 16.62 points to 3,800.94, while the JSE USD Market Index rallied 1.60 points to 240.93.
The market’s PE ratio, the most popular measure used to determine the value of stocks ended at 16.6 on 2022-23 earnings and 11.1 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
volume of stocks traded, with a 58 percent higher value than on Tuesday following trading of 44 securities compared with 42 on Tuesday and ending with declining stocks outpacing those rising with a near 2 to 1 ratio, with prices of 11 rising, 20 falling and 13 unchanged.
The PE Ratio, a measure used to calculate appropriate stock values, averages 10.6 for Junior Market stocks and is arrived at using the last traded price and ICInsider.com’s projected earnings for the financial years ending between November 2023 and August 2024.
Everything Fresh dipped 17 cents to close at $1.37 while exchanging 7,500 units, Fontana dropped 28 cents in closing at $10.90 as 50,928 stock units passed through the market, Future Energy Source lost 14 cents to close at $3.36, with 843,103 stocks changing hands. Honey Bun climbed 15 cents to end at $6.55 in an exchange of 1,807 stocks, Image Plus Consultants fell 12 cents to $2.06 with 44,708 units changing hands, ISP Finance dropped 50 cents in closing at $34, with investors transferring just one share, Knutsford Express shed 50 cents to close at $11 with 3,401 stock units crossing the exchange. Lasco Manufacturing dipped 20 cents and ended at $5.20 in switching ownership of 58,650 units, Main Event fell 98 cents to end at $16 after closing with 47,587 stock units in trade being traded and
tTech rallied 15 cents to close at $2.35 with traders dealing in 2,000 stocks.
At the close, the JSE Combined Market Index shed 3,399.58 points to finish trading at 332,51.90, the All Jamaican Composite Index fell 1,333.01 points to 353,792.21, the JSE Main Index dropped 2,522.83 points to end trading at 319,240.94, the Junior Market Index skidded 114.23 points to 3,784.32 and the JSE USD Market Index dipped 4.04 points to 239.22.
The market’s PE ratio, the most popular measure used to determine the value of stocks ended at 16.8 on 2022-23 earnings and 11.2 times those for 2023-24 at the close of trading. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Investors traded 3,076,541 shares for $7,411,897, down from 3,939,621 units at $8,927,792 on Monday.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and six with lower offers.
General Accident advanced 41 cents to close at $4.90 with investors swapping 26,440 stocks, GWest Corporation declined 12 cents to 88 cents, with investors trading 26,400 stock units, Honey Bun shed 9 cents to finish at $6.40, with 15,912 shares crossing the market, ISP Finance popped $2.50 to close at $34.50 after 10 units crossed the market. Knutsford Express rallied 25 cents to end at $11.50 after an exchange of 4,581 units, Lasco Distributors gained 19 cents in closing at $4.39 while exchanging 2,000 shares, Limners and Bards lost 8 cents and ended at $1.90, with 20,020 stocks crossing the exchange, Lumber Depot climbed 37 cents to close at $2.28 after a transfer of 3,602 stock units. Main Event shed 27 cents to and at $16.98 in an exchange of 2,268 stock units, 
Stationery and Office Supplies skidded 7 cents in closing at $1.90 with an exchange of 88,064 units and tTech dipped 15 cents to end at $2.20 with traders dealing in 1,143 stocks.