One day many years ago, I found myself stuck in traffic and noticed a peculiar sign. It said something about the construction that was going on — the very thing that was hampering my commute.
It said all this construction was being funded by a bond. This was before I had ever started my career in finance, so bonds were an unfamiliar thing. But when I began my investment career, I soon realized that I could actually invest in these things. And the more I learned, the more I was ecstatic.
After all, If you can’t beat ’em, might as well make money off them…
You see, these types of bonds have a name — general obligation bonds — a type of municipal, or “muni” bond for short. These bonds are used for everything from helping fund road construction to building schools, bridges, water infrastructure and other public buildings. As I became more familiar with municipal bonds, I quickly became a fan. In fact, in my experience, muni-bonds are one of the safest ways for investors to earn income in today’s market — while also beating the tax man. (More on that in a moment.)
Top Safest Stocks To Watch For 2023: Western Asset Municipal Partners Fund, Inc.(MNP)
Western Asset Municipal Partners Fund Inc. (the Fund), incorporated on November 24, 1992, is a diversified closed-end management investment company. The Fund’s primary investment objective is to seek a high level of current income, which is exempt from federal income taxes, consistent with the preservation of capital. As a secondary investment objective, the Fund seeks to enhance portfolio value by purchasing tax exempt securities that may appreciate in value relative to other similar obligations in the marketplace. The Fund invests primarily in investment-grade municipal bonds. Its portfolio also includes short-term investments. In July 2007, the Fund announced the completion of its merger with Western Asset Municipal Partners Fund II Inc.
Western Asset Municipal Partners Fund Inc. invests in sectors, such as education, hospitals, transportation, utilities, water and sewer, electric and pollution control. Legg Mason Partners Fund Advisor, LLC (LMPFA) is the Fund’s investment manager. Its sub-advisor is Western Asset Management Company (Western Asset). Both of these companies are subsidiaries of Legg Mason, Inc.
- [By Shane Hupp]
Fiera Capital Corp grew its holdings in shares of Western Asset Municipal Partners Fnd Inc (NYSE:MNP) by 46.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 196,895 shares of the financial services provider’s stock after purchasing an additional 62,761 shares during the quarter. Fiera Capital Corp’s holdings in Western Asset Municipal Partners Fnd were worth $2,780,000 at the end of the most recent quarter.
- [By Logan Wallace]
Media stories about Western Asset Municipal Partners Fnd (NYSE:MNP) have been trending positive this week, according to Accern Sentiment. Accern identifies positive and negative news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Western Asset Municipal Partners Fnd earned a media sentiment score of 0.38 on Accern’s scale. Accern also assigned media headlines about the financial services provider an impact score of 46.9266470312802 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Top Safest Stocks To Watch For 2023: Selective Insurance Group, Inc.(SIGI)
Selective Insurance Group, Inc., incorporated in August 1977, is a holding company with insurance subsidiaries. The Company has 10 insurance subsidiaries, nine of which are licensed by various state departments of insurance to write specific lines of property and casualty insurance business in the standard market. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market. The Company operates its business through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines and Investments. Its Standard Commercial Lines segment consists of insurance products and services provided in the standard marketplace to its commercial customers, including businesses, non-profit organizations, and local government agencies. Its Standard Personal Lines segment consists of insurance products and services, including flood insurance coverage that it writes through the National Flood Insurance Program (NFIP), provided primarily to individuals acquiring coverage in the standard marketplace. Its E&S Lines segment consists of insurance products and services provided to customers who have not obtained coverage in the standard marketplace. It only writes commercial lines E&S coverages. The Company’s investment segment invests insurance premiums, as well as amounts generated through its capital management strategies, which includes the issuance of debt and equity securities, to generate investment income and to satisfy obligations to its customers, its shareholders, and its debt holders, among others.
The Company sells various types of insurance under its insurance segments that fall into over three categories: property insurance, casualty insurance and flood insurance. Property insurance covers the financial consequences of accidental loss of an insured’s real and/or personal property. Property claims are reported and settled in a relatively short period of time. Casualty insurance covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party as a result of an insured’s negligent acts, omissions or legal liabilities. Casualty claims takes several years to be reported and settled. Flood insurance generally covers property losses under the Federal Government’s Write Your Own (WYO) program of the NFIP. Flood insurance premiums and losses are 100% ceded to the NFIP. The Company underwrites its business primarily through traditional insurance. Its E&S Lines products and services are sold through one subsidiary, Mesa Underwriters Specialty Insurance Company (MUSIC), that provides a nationally-authorized non-admitted platform to write commercial and personal E&S business. The principal types of policies the Company writes include commercial property, commercial automobile, general liability, workers compensation, businessowners’ policy, bonds (fidelity and surety), homeowners, personal automobile, personal umbrella and flood.
The Company sells its products and services in a range of geographic markets. Standard Commercial Lines products and services are sold in over 20 states located in the Eastern and Midwestern regions of the United States and the District of Columbia. Standard Personal Lines products and services are sold in over 10 states in the Eastern and Midwestern regions of the United States, except for the flood portion of this segment, which is sold in over 50 states and the District of Columbia. E&S Lines are sold in over 50 states and the District of Columbia. The Company sells and distributes its Standard Commercial and Standard Personal Lines products and services through its distribution partners, including independent retail insurance agents and wholesale general agents. The Company has approximately 1,100 independent retail agents selling its Standard Commercial Lines business, over 700 of which also sell its Standard Personal Lines business (excluding flood). In addition, the Company has approximately 6,000 distribution partners selling its flood insurance products. E&S Lines are written through approximately 80 wholesale general agents, who are its distribution partners in the E&S market. The Company’s investment portfolio includes fixed income securities, equity securities, short-term investments and other investments, including alternatives.
The Company competes with Cincinnati Financial Corporation, Erie Indemnity Company, The Hanover Insurance Group, Inc., United Fire Group, Inc., The Hartford Financial Services Group, Inc., Liberty Mutual Holding Company Inc., Nationwide Mutual Insurance Company, The Travelers Companies, Inc., Zurich Insurance Group, Ltd., State Farm Mutual Automobile Insurance Company, Allstate Corporation, The Government Employees Insurance Company, The Progressive Corporation, W. R. Berkley Company, Argo Group International Holding Ltd, Validus Group, Meadowbrook Insurance Group, IFG Companies, Berkshire Hathaway, Inc., Nationwide Mutual Insurance Company and Markel Corporation.
- [By Shane Hupp]
The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. Selective Insurance Group’s dividend payout ratio is 21.86%.
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Selective Insurance Group Company Profile
- [By Motley Fool Transcribers]
Selective Insurance Group Inc (NASDAQ:SIGI)Q4 2018 Earnings Conference CallFeb. 01, 2019, 10:00 a.m. ET
Prepared Remarks Questions and Answers Call Participants
- [By Ethan Ryder]
Selective Insurance Group (NASDAQ:SIGI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
- [By Stephan Byrd]
Baldwin & Lyons Inc Class B (NASDAQ: SIGI) and Selective Insurance Group (NASDAQ:SIGI) are both finance companies, but which is the superior investment? We will compare the two companies based on the strength of their valuation, institutional ownership, dividends, analyst recommendations, profitability, risk and earnings.
Top Safest Stocks To Watch For 2023: WEC Energy Group, Inc.(WEC)
WEC Energy Group, Inc., through its subsidiaries, generates and distributes electric energy. The company operates through Wisconsin, Illinois, Other States, electric transmission, and We Power, Corporate and Other segments. It generates electricity from coal, natural gas, oil, hydroelectric, wind, and biomass. The company provides electric utility services to customers in the mining, paper, foundry, food products, and machinery production industries, as well as to health services, governmental, and large retail chains. It also provides retail natural gas distribution services in the state of Wisconsin, as well as transports customer-owned natural gas; and generates, distributes, and sells steam. The company serves approximately 1.6 million electric customers and 2.8 million natural gas customers. In addition, it invests in and develops real estate, including business parks and other commercial real estate projects primarily in southeastern Wisconsin. The company was formerly known as Wisconsin Energy Corporation and changed its name to WEC Energy Group, Inc. in June 2015. WEC Energy Group, Inc. was founded in 1981 and is headquartered in Milwaukee, Wisconsin.