This insurer has more gains ahead

Article Excerpt

We first recommended specialty insurer Trisura in the third issue (December 2017) of TSI Spinoffs & Takeovers. It has not disappointed us. Trisura took its current form on June 22, 2017, when Brookfield Asset Management Inc. (Toronto symbol BAM.A) spun it off as a separate company. Investors received one Trisura share for every 170 Brookfield shares they held. Typical of most spinoffs, it took a while for Trisura to find its footing. The stock hovered around $7 until late 2019, but soared to a peak of $45.83 in July 2021 (all per-share amounts adjusted for a 4-for-1 split in July 2021). Even after this big gain, we feel Trisura’s strong prospects could push the stock even higher. Moreover, the stock is now part of the S&P/TSX Composite Index. That should attract more investors, particularly exchange-traded funds that track the index. TRISURA GROUP LTD. $45 remains a buy for aggressive investors. The company (Toronto symbol TSU; Finance Sector; Shares outstanding: 41.2 million; Market…