On Wednesday, the S&P/ASX 200 Index (ASX: XJO) fought hard to start the month with a gain but fell just short. The benchmark index edged slightly lower to 7,251.6 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to fall again

The Australian share market is expected to fall gain on Thursday following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 6 points or 0.1% lower this morning. In late trade in the United States, the Dow Jones is down 0.2%, the S&P 500 has fallen 0.6% and the NASDAQ is down 0.8%.

Nickel Industries shares named as a buy

The Nickel Industries Ltd (ASX: NIC) share price could have major upside potential according to analysts at Bell Potter. This morning the broker has retained its buy rating with a slightly improved price target of $1.87. Bell Potter commented: "Its aggressive growth outlook and undemanding valuation metrics make it one of our top picks."

Oil prices rise again

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a decent session after oil prices rose again on Wednesday night. According to Bloomberg, the WTI crude oil price is up 0.7% to US$77.61 a barrel and the Brent crude oil price is up 0.9% to US$84.18 a barrel. Traders have been bidding oil higher over the last couple of days thanks to strong economic data out of China.

Shares going ex-dividend

A number of ASX 200 shares are going ex-dividend on Thursday and could drop into the red. This includes supermarket giant Coles Group Ltd (ASX: COL), private health insurers Medibank Private Ltd (ASX: MPL) and NIB Holdings Limited (ASX: NHF), and lithium miner Pilbara Minerals Ltd (ASX: PLS).

Gold price climbs

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a good session after the gold price rose overnight. According to CNBC, the spot gold price is up 0.5% to US$1,845.5 an ounce. The precious metal rose after the US dollar softened in response to China's strong economic data.

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

The NIB Holdings Limited (ASX: NHF) share price is rebounding on Tuesday after a selloff yesterday.

At the time of writing, the private health insurer's shares are up 3.5% to $7.26.

Why is the NIB share price charging higher?

Investors have been bidding the NIB share price higher today after a leading broker suggested that Monday's weakness was a buying opportunity.

According to a note out of Citi, its analysts have upgraded NIB's shares to a buy rating with a $7.85 price target.

Based on where its shares are currently trading, this implies potential upside of 8.1% for investors over the next 12 months.

Citi also now expects a fully franked 28 cents per share dividend in FY 2023, which equates to a 3.9% yield, boosting the total potential return to approximately 12%.

While Citi acknowledges that NIB's first-half result was below expectations, it remains positive due to its above-system growth in the core ARHI segment.

What else are brokers saying?

Elsewhere, the team at Ord Minnett has also upgraded NIB's shares. Albeit to a hold rating with a $7.00 price target.

Finally, over at Morgans, its analysts have retained their hold rating with a reduced price target of $7.55. It saw positives and negatives from the result. The broker commented:

We would summarise this result as a headline miss, with the lower than expected ARHI net margin (8.6% versus 10.6% in the pcp) raising some concerns about the potential speed of future profit normalisation in this business. But, we think those concerns shouldn't completely overshadow what was a sound 1H23 underlying business performance, highlighted by 9%-13% revenue and NPAT growth on the pcp respectively.

The post Is the NIB share price a bargain buy following Monday's dive? appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) has started the week in a subdued fashion. In afternoon trade, the benchmark index is down slightly to 7,344.5 points.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is down 8% to $6.52. This follows the release of the infant formula company's half year results. Although the company delivered a solid result, its earnings may have still fallen a touch short of expectations. In addition, its guidance appears to have disappointed investors.

BlueScope Steel Limited (ASX: BSL)

The BlueScope share price is down 12% to $17.48. Investors have been hitting the sell button on Monday after the steel producer released its half year results and reported a 64% decline in net profit after tax to $1.64 billion. Softening customer demand weighed on the company's performance.

NIB Holdings Limited (ASX: NHF)

The NIB share price is down 10% to $7.15. This has been driven by the release of the private health insurer's half year results. Although NIB reported a 12.8% increase in net profit after tax to $91.6 million, this was well short of the consensus estimate of $110 million. NIB declared a 13 cents per share interim dividend, which was in line with expectations.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is down 5% to $4.21. Investors have been selling Pilbara Minerals and other lithium shares on Monday following a selloff of their Wall Street peers on Friday. This was driven by news that the world's largest electric vehicle battery maker is offering discounts to Chinese automakers. Investors appear to be interpreting this as a sign that high lithium prices have been and gone.

The post Why A2 Milk, BlueScope, NIB, and Pilbara Minerals shares are dropping today appeared first on The Motley Fool Australia.

The NIB Holdings Limited (ASX: NHF) share price is plummeting as the market digests the health insurance provider's first-half earnings.

Right now, the S&P/ASX 200 Index (ASX: XJO) stock is down 10.33%, trading at $7.12 a share.

NIB share price tumbles on first-half results

Here are the highlights of the company's half-year report:

• $91.6 million of net profit after tax (NPAT) – up 12.8% on the prior comparable period's (pcp)
• Underlying operating profit lifted 13.3% to $125.1 million
• $1.5 billion of revenue – a 9.3% jump
• 20 cents of earnings per share (EPS) – up 12.4%
• Claims expense came to $1.1 billion – up 4.9%
• 13 cent per share fully franked interim dividend declared – 18.2% higher than the pcp's 11 cent offering

All of the company's major businesses performed well last half, with strong results from the Australian Residents Health Insurance (arhi) and New Zealand businesses. NIB also saw a recovery in its International Inbound Health Insurance (iihi) business and its travel insurance leg.

Policyholder growth across arhi, iihi, and the New Zealand business saw health insurance premium revenue lift 5.8% to $1.4 billion and contributed to higher net claims expenses.

Finally, the company said its investment income improved – coming in 47% higher at $22.2 million – but markets have been "fickle".

What else happened last half?

Effects from the pandemic lingered last half, driving arhi's net margin down to 8.6%. Though, that's higher than the company's 6% to 7% target.

That led the company to post its second-lowest premium increase in 20 years – 2.72%.

It also raised $158 million to fund its entry into the National Disability Insurance Scheme (NDIS), purchased plan manager Maple Plan, and launched its Thrive NDIS business.

What did management say?

NIB CEO and managing director Mark Fitzgibbon commented on the results weighing on the insurer's share price today, saying:

There's a symmetry returning to the businesses and profitability, after a period of COVID-led disruption. The half-year has set us up for a good full-year result and longer-term outlook.

Market and business conditions look favourable for our strategy and we've definitely got an appetite to invest across the group.

Yet inflation, rising interest rates, and slowing economic growth suggest some level of caution is required. Claims are still lower than we'd expected and at some point, volumes will lift.

What's next?

"No one is happy about the difficulties we see in the public healthcare system, but those issues will continue to render private health insurance more attractive to consumers," Fitzgibbon continued.

Despite that positive indication, NIB hasn't reinstated financial guidance, citing remaining COVID-19 consequences and uncertainty.

NIB share price snapshot

Today's tumble sees the NIB share price in the year-to-date red. But looking longer-term, the stock has been outperforming.

It's currently 8% lower than it was at the start of 2023 and 6% higher than it was this time last year.

For comparison, the ASX 200 has gained 6% year to date and 2% over the last 12 months.

The post NIB share price tumbles 10% despite higher profit and bolstered dividend appeared first on The Motley Fool Australia.

Unfortunately last month likely disappointed many investors who were counting on a massive Santa rally to soften the impact of a pretty terrible 2022.

The S&P/ASX 200 Index (ASX: XJO) plunged 3.4% over December, with many contituent shares ending up in the red.

But one fund found a couple of bright sparks in its portfolio that reckon will continue their upward trajectory.

'Attractive dividend yield'

Salary packaging provider Smartgroup Corporation Ltd (ASX: SIQ) is not a name mentioned often, but the analysts at Celeste Funds Management are big fans.

The stock provided a handsome 6.5% return last month for the team, which it attributed to "recovering from oversold levels in November post a weaker than expected earnings update".

"The company noted that while they had experienced positive momentum with respect to novated leasing leads, a continued lack of new car supply into Australia saw further delays in settlement volumes," read a Celeste memo to clients.

Despite the late-year rally, Smartgroup shares remain heavily discounted, trading at 29% lower than a year ago.

The big clincher for Celeste analysts is the mouth-watering 6.8% dividend yield.

"Regardless of the level of earnings, Smartgroup is a high cash conversion business, which it returns to shareholders via dividends," read the memo.

"As such, the current share price is underwritten by an attractive dividend yield in our view."

According to CMC Markets, four out of seven analysts are rating Smartgroup shares as a strong buy, while the other three reckon it's a hold.

Expansion potential for insurer

Health insurer NIB Holdings Limited (ASX: NHF) also contributed nicely to the Celeste portfolio, rising 6.2% in December.

The team is excited about the growth potential in the business's $158 million equity raise in November to pay for the NDIS industry player Maple Plan.

But the Christmas rally was based on the excitement around other parts of NIB.

"The market refocused its attention on the underlying strength of the Australian residents health insurance division, with earnings growth across the group to be enhanced by a continued recovery in its travel insurance and international inbound health insurance divisions."

The NIB share price has risen 8.4% over the past 12 months, while paying out a 2.9% dividend yield.

The Celeste team's enthusiasm for NIB is not quite matched by its peers though.

Out of the 12 analysts currently surveyed on CMC Markets, a whopping nine of them rate NIB shares as merely a hold.

The post 'High cash conversion': 2 ASX shares to buy before they rocket even more appeared first on The Motley Fool Australia.

Thursday was another good day on the S&P/ASX 200 Index (ASX: XJO). It closed 0.53% higher at 7,152.5 points.

In the lead today was the S&P/ASX 200 Utilities Index (ASX: XUJ). The sector soared 1.6% as all three of its constituents gained between 1.2% and 1.7%.

Next best was the S&P/ASX 200 Information Technology Index (ASX: XIJ), rising 1.3% following a strong overnight session for the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC).

The Wall Street index rose 1.5% on Wednesday's session as United States consumer confidence reached an eight-month high.

There was only one sector trading in the red at the end of today's session. That was the S&P/ASX 200 Materials Index (ASX: XMJ). It fell 0.2% despite BHP Group Ltd (ASX: BHP) officially entering an agreement to buy copper giant OZ Minerals Ltd (ASX: OZL).

So, with all that in mind, which ASX 200 share outperformed all others on Thursday? Keep reading to find out.

Top 10 ASX 200 shares countdown

The top-performing stock on the index today was real estate services business Domain Holdings Australia Ltd (ASX: DHG). It dived 9% on Tuesday after the company released a disappointing trading update.

Today's biggest gains were made by these shares:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) spent a second consecutive day in the red on Wednesday. The index closed today's trade 0.85% lower at 7,229.4 points.

And once again, it was the tech sector leading the market's tumble. The S&P/ASX 200 Information Index (ASX: XIJ) dropped 3.3% today following a rough night for the tech-heavy NASDAQ index.

The Nasdaq Composite Index (NASDAQ: .IXIC) dropped 2% while most of Australia slept.

The S&P/ASX 200 Energy Index (ASX: XEJ) also weighed heavily today, falling 2% as oil prices hit their lowest point of the year so far.

The Brent crude oil price slumped 4% to US$79.35 a barrel overnight while the US Nymex crude oil price fell 3.5% to US$74.25 a barrel.

But not all was dire on the market today. Miners had a good day's trade, with the S&P/ASX 200 Materials Index (ASX: XMJ) lifting 0.2%.

It was the only gainer, however, with 10 of the ASX 200's 11 sectors closing lower. But which stock outperformed all others to post Wednesday's biggest gain? Keep reading to find out.

Top 10 ASX 200 shares countdown

The best performing ASX 200 share today was none other than coal stock Coronado Global Resources Inc (ASX: CRN). It posted a 3% gain despite no word from the company.

Though, as my Fool colleague James reports, Macquarie tipped the stock to gain nearly 50% earlier this week.

Today's biggest gains were made by these shares:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

At the time of writing, the private health insurer's shares are up almost 1% to $7.20.

This adds to the decent gains NIB's shares have made since the Medibank Private Ltd (ASX: MPL) cyber incident became public.

How much have NIB's shares risen since the incident?

First things first, the NIB share price actually sank 12% on the day that Medibank's hack was announced.

However, that was primarily due to the company raising $150 million to support its expansion into the NDIS market.

NIB raised the funds at $6.90 per new share, which represents an 8.1% discount to its last close price.

So, if we take this out of the equation, you could argue that the NIB share price fell 3.9% in response to news of Medibank's hack. Investors may have feared that the hackers could have infiltrated their systems as well. But this ultimately wasn't the case.

So, after accounting for the capital raising, the NIB share price has gained somewhere in the region of 4.5% since the incident. Whereas the Medibank share price has gone the other way and lost almost 20% of its value since the hack was announced.

That's a relative outperformance of approximately 24% for NIB's shares. I know which private health insurer I would've wanted in my portfolio!

Can its shares keep rising?

The good news for investors is that one leading broker believes the NIB share price can keep rising.

According to a note out of Morgans, its analysts have retained their add rating with an improved price target of $8.54. This implies potential upside of almost 19% for investors over the next 12 months.

Morgans was impressed with the company's strong start to FY 2023 and has been forced to upgrade its earnings estimates to reflect this. It explained:

We lift NHF FY23F/FY24F EPS by 11%/2% reflecting more favorable underlying growth trends than expected and also a lift to investment income assumptions. Our PT rises marginally to A$8.54 (previously A$8.27).

Overall, the broker believes NIB's outlook is positive and its shares are trading at an attractive level. It concludes:

NHF is a well-run company, and the near-term operating environment remains favourable for its key Australian Residential Health Insurance business (assisted by a benign claims environment). Covid-19 headwinds that were affecting some of NIB's other businesses, e.g. IIHI and Travel etc. also appear to be easing. With NIB trading at a >10% discount to our target price, we maintain our ADD call.

The post Guess how much NIB shares have gained since Medibank's cyber attack? appeared first on The Motley Fool Australia.

Three top ASX shares leading brokers have named as buys this week are listed below. Here's why they are bullish on them:

Champion Iron Ltd (ASX: CIA)

According to a note out of Goldman Sachs, its analysts have retained their buy rating and $6.90 price target on this iron ore miner's shares. The broker likes Champion Iron due to the doubling of its production of high grade iron ore to 16Mtpa and strong free cash flow ramp-up from FY 2023. In addition, it highlights that the company's shares trade at an attractive 0.85x net asset value. The Champion Iron share price is trading at $6.04 on Monday afternoon.

Lovisa Holdings Ltd (ASX: LOV)

A note out of UBS reveals that its analysts have upgraded this fashion jewellery retailer's shares to a buy rating with an improved price target of $29.00. The broker was impressed with Lovisa's trading update and notes that it is outperforming peers. UBS was also pleased to see the company's global expansion has continued, with several new markets about to be entered. All in all, UBS has upgraded its earnings estimates meaningfully and lifted its valuation accordingly. The Lovisa share price is fetching $24.45 today.

NIB Holdings Limited (ASX: NHF)

Analysts at Morgans have retained their add rating and lifted their price target on this health insurer's shares to $8.54. Morgans has been pleased with the company's strong start to the financial year, highlighting its solid policyholder growth and favourable claims environment. This has led to Morgans upgrading its earnings estimates for the near term. The NIB share price is trading at $7.18 this afternoon.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) ended the week in the green. The index closed Friday's session 0.23% higher at 7,151.8 points. That marks a week-on-week fall of 0.09%.

That was despite a weak performance from the S&P/ASX 200 Energy Index (ASX: XEJ). It slumped 0.4% amid tumbling oil prices.

The Brent crude oil price fell 3.3% to US$89.78 a barrel overnight and the US Nymex crude oil price dumped 4.6% to trade at US$81.64 a barrel.

Fortunately, the energy sector's suffering was offset by gains across the S&P/ASX 200 Industrials Index (ASX: XNJ), the S&P/ASX 200 Communications Index (ASX: XTJ), and the S&P/ASX 200 Utilities Index (ASX: XUJ). They lifted 0.9%, 0.8%, and 0.7% respectively

Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) traded flat amid news OZ Minerals Limited (ASX: OZL) will likely accept BHP Group Ltd (ASX: BHP)'s increased takeover bid.

All in all, seven of the ASX 200's 11 sectors closed in the green. But which share outperformed all others to close the week on a high? Keep reading to find out.

Top 10 ASX 200 shares countdown

It might come as no surprise that the stock topping the lot on Friday was OZ Minerals.

It returned to trade this morning after a two-day trading halt on news BHP upped its bid for the company to $28.25.

Today's biggest gains were made by these shares:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

The NIB Holdings Limited (ASX: NHF) share price is outperforming all its peers on Friday after the company used its annual general meeting (AGM) to reveal a strong start to financial year 2023.

Headlining the growth, the insurer's net profit after tax (NPAT) came in at $84.1 million for the first four months of the fiscal year – marking a 31.2% increase on that of the prior comparable period.

Right now, the NIB share price is $7.105, 2.97% higher than its previous close.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.26% at the time of writing.

Meanwhile, the S&P/ASX 200 Financials Index (ASX: XFO) has lifted 0.48%, with NIB coming in as the best-performing stock in the sector.

Let's take a closer look at what's helping to drive the health insurer's stock on Friday.

NIB stock lifts on early FY23 growth

The NIB share price is outperforming on Friday on the back of a trading update for the first four months of financial year 2023.

Between July and October, the health insurer clocked up $940.4 million of premium revenue – a 4.7% year-on-year jump – and a $109.5 million underlying operating profit, marking a 16.3% increase.

Looking at its individual segments, its travel business' gross written premiums soared 669% in that time to $70.8 million as sales lifted 381% to 257,320.

Meanwhile, the number of policyholders signed up to its Australian residents health insurance grew 4% over the 12 months ended October, and that of its New Zealand business lifted 5.1%.

However, its international inbound health insurance business' policyholders slipped 0.3%.   

Finally, NIB noted its investment income has been volatile lately, but was strong in October. Its investment income is now $21.7 million year-to-date, helping bolster NPAT growth.

Looking to the future, the company is growing its Honeysuckle Health joint venture and looking for more acquisitions in the National Disability Insurance Scheme (NDIS) space.

NIB chair David Gordon commented at the company's AGM:

The NDIS is a vital part of Australia's social capital. It delivers services to more than half a million participants … Currently about 56% of participants use a plan manager, and this is forecast to grow to 60%-70% by 2030.

Earlier this month we completed our first acquisition, Maple Plan … We plan to buy a number of other plan managers and link the buyers and sellers here in the same way as we do in the healthcare sector.

NIB share price snapshot

Plenty of eyes have likely been on the NIB share price in recent times as its health insurance peer Medibank Private Ltd (ASX: MPL) became a headline mainstay amid a major cyberattack.

While the Medibank share price has tumbled 19% over the last 30 days, that of NIB has lifted 5%.

Though, NIB shares have slipped 3% year to date and are trading flat over the last 12 months.

That leaves them in better stead than the broader ASX 200. The index has fallen 6% year to date and 3% over the last 12 months.

The post NIB share price surges ahead as profits soar 31% appeared first on The Motley Fool Australia.

If you want better returns than the market average, then you need to buy ASX shares that others haven't yet bought.

Fortunately, the team at Celeste Funds Management this week named two stocks it has in its portfolio that are absolute sleeping giants. 

Although they have not impressed with their recent returns, the Celeste analysts explained why they're bullish about these ASX shares:

The first ASX-listed health insurer

ASX-listed health insurance providers have been in the headlines for all the wrong reasons in recent weeks.

Out of all of them, NIB Holdings Limited (ASX: NHF) was the first to float on the ASX, back in 2007.

While the stock grew exponentially in the first 10 years, the ensuing five have not been flattering. The share price has inched up only 0.15% over the last half-decade.

To rub short-term salt into the long-term wound for shareholders, the NIB share price took a 10.2% hit last month.

Celeste analysts attributed this to the company's foray into a new business area.

"The company raised $150 million as part of [its] previously flagged expansion into NDIS plan management, with the acquisition of Maple Plan becoming the first of many," read a Celeste memo to clients.

"Maple Plan is the seventh largest plan manager, with 7,000 participants."

NIB is aiming to hit a target of 50,000 NDIS participants by 2025, according to the Celeste team, and will possibly achieve this through more takeovers. 

"Additionally, strong student visa and work visa grants for the quarter (up 47% and 31% respectively) bodes well for NIB's international business, while the cybersecurity breach at competitor Medibank Private Ltd (ASX: MPL) might see NIB show above-system member growth."

NIB shares are currently paying out a dividend yield of 3.16%.

Don't call them Event Cinemas

EVT Ltd (ASX: EVT) is the cinema operator formerly known as Event Hospitality & Entertainment Ltd.

The Celeste team was impressed with what it heard at the company's recent annual general meeting.

"EVT Limited announced at the AGM that 1q22 performance had been strong with group earnings of $70.6 million, exceeding the previous comparable quarter of a loss of $15.5 million and even exceeding $53.3 million earned in 1q19, a pre-COVID comparable."

The EVT share price has risen only 6% over the past five years.

However, the arrival of the pandemic forced some serious soul-searching with cinemas sitting empty — and burning cash — for months.

"Strong cost control driven by the COVID lockdown has now enabled revenue growth to translate to significant earnings leverage."

The AGM also revealed that a significant legal headache has now been dealt with. 

"EVT also announced they have settled their dispute with Vue over the failed 2020 takeover of the EVT German cinema assets," read the Celeste memo.

"Vue, currently in receivership, paid $11.6 million to [expedite] bondholder assumption of ownership."

The meeting was also when the company commenced its rebranding to EVT to "better reflect the spread of businesses", as it also operates hotels and resorts.

The post Movies and health: Fund loves 2 ASX shares that have gone nowhere till now appeared first on The Motley Fool Australia.

Is the NIB Holdings Limited (ASX: NHF) share price benefitting from the woes of its arch-rival Medibank Private Ltd (ASX: MPL) this week?

Medibank has certainly had one of the worst weeks in its eight years or so of its public history. The company suffered a well-publicised cyber attack earlier this month which left potentially millions of customers' healthcare data exposed.

Medibank shares went into a trading halt on this news on 13 October and again last week, only returning back to the markets yesterday.

But investors were brutal in their reception of the ASX health insurance provider. Medibank closed at $2.87 a share yesterday, a good 18.2% or so from its pre-halt levels.

The company initially fell again today, down to a new 52-week low of $2.76. However, it has recovered since then and is presently up by 0.70% at $2.89 a share.

So how is the NIB share price reacting to all of this news in its backyard?

Is the NIB share price benefitting from Medibank's woes?

Well, if you thought NIB shares would be the main beneficiaries of its rivals' woes, you'd be dead wrong. For one, NIB shares are deep in the red today, nursing a loss of 1.6% to $6.65 a share.

But NIB shares have been on the slide for weeks now. In fact, the company began falling dramatically in value from 13 October onwards, around the date the Medibank cyberattack became public knowledge.

However, this could be something of a coincidence. For on that date, NIB shares returned from a trading halt of their own. But this had nothing to do with cybersecurity or Medibank.

As we covered at the time, NIB shares were halted so that the company could conduct a capital raising. NIB ended up raising $135 million to facilitate its expansion plans into the national disability insurance scheme (NDIS). NIB intends to become a Plan Manager with its acquisition of Maple Plan.

So it seems that investors could have been voicing their disapproval of these plans with the share price drops we saw around then. Or else lowering the NIB share price to the $6.90 that the institutional placement took place at.

Either way, it's certainly a raucous period in both Medibank and NIB's histories. But we can conclude that Medibank's share price woes of late don't seem to be benefitting the NIB share price at all.

The post Is the NIB share price benefitting from Medibank's woes? appeared first on The Motley Fool Australia.

Four ASX shares that are climbing more than most today are listed below. Here's why they are storming higher:

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is up 5% to $4.17. Investors have been buying this mineral exploration company's shares following the release of a positive update on its Julimar project. The release notes that drilling to date supports the interpretation of the Gonneville intrusion (and Julimar mafic-ultramafic Complex) as having a rare chonolith-like geometry.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 9% to $1.39. This is despite there being no news out of the lithium miner today. However, with lithium prices reaching record highs in China this month and a rival reporting further strong prices from its digital auction this week, investors appear excited about Core Lithium's outlook. Especially given the opening of its Finniss lithium mine this month.

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is up 3% to $17.28. This appears to have been driven by a broker note out of Goldman Sachs this morning. According to the note, the broker has initiated coverage on the company's shares with a buy rating and $20.20 price target. Goldman notes that "CTD offers strong growth and margin accretion opportunities with improving scale and a consolidating market."

NIB Holdings Limited (ASX: NHF)

The NIB share price is up 1.5% to $6.84. Investors have been buying this private health insurer's shares today after it was the subject of a bullish broker note out of Morgans. According to the note, the broker has upgraded its shares to an add rating with an $8.27 price target.

The post Why Chalice Mining, Core Lithium, Corporate Travel Management, and NIB are rising appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Baby Bunting Group Ltd (ASX: BBN)

The Baby Bunting share price is down a further 3.5% to $2.92. Investors have been selling this baby products retailer's shares following a very disappointing update earlier this week. This latest decline means the Baby Bunting share price is now down 25% over the last three sessions. Not even news of some insider buying today has been able to stop the slide.

Mirvac Group (ASX: MGR)

The Mirvac share price is down 3% to $1.87. This property company's shares have come under pressure this week after it announced the impending retirement of both its CEO and Chair. The company's CEO, Susan Lloyd-Hurwitz, will retire from Mirvac on 30 June 2023 after a decade in the top job.

NIB Holdings Limited (ASX: NHF)

The NIB share price is down over 11% to $6.66. This morning this private health insurer announced the completion of a $135 million institutional placement. These funds were raised at the floor price of $6.90 per new share, which represents an 8.1% discount to its last close price. The proceeds will be used to support NIB's expansion into the NDIS market as a Plan Manager.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is down 4% to $4.97. Investors appear to have been selling Pilbara Minerals and other lithium shares today following a bearish broker note out of Morgan Stanley last night. The broker has raised concerns over lithium demand and prices in China. This sent lithium stocks on Wall Street sinking deep into the red.

The post Why Baby Bunting, Mirvac, NIB, and Pilbara Minerals shares are dropping appeared first on The Motley Fool Australia.

In morning trade, the private health insurer's shares are down over 8% to $6.88.

Why is the NIB share price crashing?

The weakness in the NIB share price on Thursday has been driven by the completion of the company's $135 million institutional placement.

According to the release, following a bookbuild process, NIB was able to raise the funds at $6.90 per new share. This represents a discount of 8.1% to the NIB share price prior to the halt.

This was also the floor price for the underwritten placement, which may be an indication that demand wasn't overly strong for the offering.

NIB will now push ahead with its non-underwritten share purchase plan with the aim of raising a further $15 million. These funds will be raised at the lower of the institutional placement price or a 2% discount to the five-day volume weighted average price on 7 November.

Why is NIB raising funds?

The proceeds from the equity raising will be used to fund its entry into Australia's National Disability Insurance Scheme (NDIS) sector as a Plan Manager. NIB has identified a number of potential acquisitions and signed an agreement for one.

It will start with the acquisition of Maple Plan, which is the seventh largest Plan Manager with ~7,000 participants and revenue of approximately $10.4 million in FY 2022.

NIB's managing director, Mark Fitzgibbon, commented:

The NDIS has become a vitally important part of Australia's social capital and a significant economic sector. Already it supports 530,000 participants with more than 800,000 expected by 2030. NDIS funding is expected to double from around $29 billion in 2022, to $59 billion by 2030.

We believe we can contribute to the success of the NDIS and improve outcomes for participants. There is an alignment between supporting NDIS participants and our 70-year history as a private health insurer.

The post Why is the NIB share price crashing 8% today? appeared first on The Motley Fool Australia.

That's because this morning the private health insurer requested a trading halt.

Why is the NIB share price halted?

The NIB share price has been halted this morning so the company can undertake an equity raising to fund a new acquisition.

According to the release, NIB is aiming to raise a total of $150 million via a fully underwritten ~$135 million institutional equity placement and a ~$15 million non-underwritten share purchase plan (SPP).

The placement issue price will be determined via an institutional bookbuild with a floor price of $6.90. This is a discount of approximately 8% to the NIB share price prior to its halt.

What are the funds for?

The proceeds from the equity raising will be used to fund its entry into Australia's National Disability Insurance Scheme (NDIS) sector as a Plan Manager.

NIB's first acquisition is Maple Plan, the seventh largest Plan Manager with ~7,000 participants and revenue of approximately $10.4 million in FY 2022.

But NIB is unlikely to stop there. The company notes that other possible acquisitions are under active consideration. These could support NIB in achieving its goal of managing 50,000 participants by 2025.

NIB's Managing Director, Mark Fitzgibbon, commented:

The NDIS has become a vitally important part of Australia's social capital and a significant economic sector. Already it supports 530,000 participants with more than 800,000 expected by 2030. NDIS funding is expected to double from around $29 billion in 2022, to $59 billion by 2030.

First quarter update

NIB also released an update on its performance during the first quarter.

The release reveals that its underlying operating profit was up 0.8% to $64.3 million during the period. And, after adjusting for the COVID-19 givebacks, revenue was up 6.5% on the previous corresponding period.

One negative, though, was that volatile financial markets continued to impact investment returns in the first quarter. This has led to its net profit after tax falling 8.6% to $41.6 million.

Fitzgibbon commented:

Our flagship Australian residents health insurance (arhi) business continues to benefit from heightened demand, which appears to be driven by lingering COVID-19 concerns, and difficulties in public system waiting times. We don't celebrate these difficulties. But they are a reality and point to a need for an even greater private sector role in healthcare.

Our adjacent international students and workers, New Zealand and travel businesses are also doing well, with the student and travel businesses quickly recovering from the pandemic blow.

The post NIB share price halted amid equity raise and NDIS expansion appeared first on The Motley Fool Australia.

If you own Nib Holdings Limited (ASX: NHF) shares, your dividend is due to hit bank accounts today.

NIB shares have descended 8% in the past month to $7.35. In comparison, the the S&P/ASX 200 Index (ASX: XJO) has slid 5% in the last month.

Let's take a look at the NIB dividend in more detail.

NIB pays out dividend

NIB shareholders are set to receive a final dividend of 11 cents per share, 100% fully franked.

The insurer's total dividend payout for the 2022 financial year is 22 cents per share. This is 8.3% less than the 24 cents per share total dividends paid out in FY21.

In FY20, amid COVID-19, NIB paid a full-year dividend of 14 cents per share, 36% less than the FY22 dividend.

But in FY19, its total dividend was 23 cents per share, 4.5% more than that paid out in 2022.

NIB also offered a dividend reinvestment plan (DRP) for eligible shareholders in FY22. This enables shareholders to reinvest their cash dividends into new shares in the company.

Investors who wanted to receive new NIB shares instead of cash had to make this known to the company by 7 September.

NIB reported a 14.8% lift in underlying profit in FY22 to $235.3 million. Net profit after tax (NPAT) dropped 16.6% to $133.8 million due to investment losses. Statutory earnings per share fell 15.9% to 29.6 cents.

Commenting on these results, managing director Mark Fitzgibbon said: "Our final quarter of FY22 was particularly good; the best we've experienced in seven years."

NIB share price snapshot

The NIB share price has risen nearly 6% in the past year, while it has gained almost 5% in the year to date.

For perspective, the ASX 200 has shed more than 10% in the past year.

NIB has a market capitalisation of more than $3.3 billion.

The post Own NIB shares? Here's some good news on your dividends appeared first on The Motley Fool Australia.

Will the market be able to bounce back from this on Tuesday? Here are five things to watch:

ASX 200 expected to rebound strongly

The Australian share market could have an excellent day after a stunning start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 128 points or 1.9% higher. In late trade in the United States, the Dow Jones is up 3%, the S&P 500 is up 2.9%, and the NASDAQ is storming 2.6% higher.

Oil prices jump

It could also be a great day for energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 4.8% to US$83.29 a barrel and the Brent crude oil price has risen 4.2% to US$88.73 a barrel. News that OPEC is planning its biggest output cut since 2020 has got traders excited.

Dividends being paid

Today is payday for the shareholders of a couple of popular ASX 200 shares. Rewarding their shareholders with dividends later today are private health insurance provider NIB Holdings Limited (ASX: NHF) and job listings giant SEEK Limited (ASX: SEK).

Miners to rise

Mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) will be on watch today after their US listed shares stormed higher on Wall Street overnight. Both are up ~4% in late trade, which bodes well for their performance on the ASX 200 today. Improving investor sentiment and a softening US dollar have given them a boost.

Gold price storms higher

Gold miners such as Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a great day after the gold price rebounded strongly overnight. According to CNBC, the spot gold price is up 1.95% to US$1,704.8 an ounce. The gold price lifted after the US dollar and bond yields retreated.

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

The NIB Holdings Ltd (ASX: NHF) share price is edging slightly lower today following the company's latest cash giveback.

At the time of writing, the private health insurance giant's shares are swapping hands at $7.77, down 0.77%.

NIB returns additional savings to members

Investors are sending NIB shares into negative territory despite the S&P/ASX 200 Index (ASX: XJO) climbing today.

For context, the ASX 200 Index is up 1.11% to 6,794.4 points after Wall Street recorded strong gains overnight.

In its release, NIB advised it is returning an additional $40 million in health insurance claims savings to its members. This brings the total amount of support provided by the business since the start of the pandemic to roughly $145 million.

Last year, the company provided $15 million in a one-off COVID credit, reflecting claims savings made during that year. The credit was applied as a discount to premium payments from September 6 2021.

The latest cash back funds will be deposited into customers' bank accounts by 30 November 2022.

However, the financial package is dependent on the policy and level of cover.

For members with Hospital and Extras combined policies, they will receive on average about $71.

For those with hospital only policies or extras only policies, they'll get approximately $47 or $15, respectively.

NIB managing director, Mark Fitzgibbon commented:

The give back is in recognition of members' reduced ability to access healthcare services during the COVID-19 pandemic.

We saw a significant reduction in hospital and healthcare treatment.

To date, the volume of catch up in claims has been lower and slower than expected, which is why we're able to return a further $40 million to our members.

NIB share price summary

Over the last 12 months, the NIB share price has travelled 15% higher despite the recent market volatility.

In comparison, the benchmark ASX 200 index has fallen by 6% over the same time frame.

Based on today's price, NIB presides a market capitalisation of roughly $3.57 billion.

The post Why is the NIB share price edging lower on Tuesday? appeared first on The Motley Fool Australia.