Thu, Oct. 6, 11:23 AM
- The National Hurricane Centers says Hurricane Matthew has already strengthened to a category 4 storm, with some additional strengthening possible as it approaches Florida.
- Universal Insurance (UVE -10.1%), United Insurance (UIHC -7%), Federated National (FNHC -8.2%), HCI Group (HCI -11.8%), Heritage (HRTG -13.1%).
- The team at CreditSights notes Progressive (PGR -1.3%), Allstate (ALL -0.7%), AIG (AIG -0.4%), and Chubb (CB -1%) as all names with top-20 market shares in the hurricane-loss prone lines of business, and are in the top-20 writers of homeowner's insurance in Florida.
- These shops are large and diverse though. While losses could create a hit to earnings, they're unlikely to damage credit in any large way.
Thu, Oct. 6, 3:16 AM
- Millions of Americans are heading for higher ground as Hurricane Matthew barrels toward the Florida and South Carolina coasts and the death toll from the monster storm climbed to at least 26.
- Florida Gov. Rick Scott said 1,500 National Guard members had been activated and he asked President Obama to declare a federal emergency in 26 counties.
- Related stocks: CB, ALL, PGR, TRV, GNRC, NEE, CCL, RCL, DIS, SEAS
Tue, Oct. 4, 3:44 PM
- "We would wait to buy the P&C (re)insurance stocks until after Matthew passes and note the stocks tend to rebound post landfall when damages are not as bad as feared,” says the team at JPMorgan.
- Expected to hit Florida late Thursday, Matthew could dump as much as 10 inches of rain over parts of the state.
- Chubb (CB -0.8%), Allstate (ALL -0.8%), Progressive (PGR -0.6%), Travelers (TRV -0.4%), Universal (UVE -4.5%), HCI Group (HCI -2.6%), United Insurance (UIHC -1.9%), Cincinnati Financial (CINF -0.8%).
Thu, Sep. 15, 12:14 PM
- ALL announced estimated catastrophe losses for August of $154M pre-tax and $100M post-tax.
- Catastrophe losses of 10 events for an estimated cost of $144M pre-tax adding unfavorable reserve reestimates of prior reported catastrophe losses.
- July and August estimated catastrophe losses totaled $407M pre-tax ($265M post-tax).
- Press Release
Wed, Aug. 3, 4:58 PM
Tue, Aug. 2, 5:35 PM
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Thu, Jul. 14, 2:38 PM
Mon, May 9, 1:51 PM
- The average yield in the mortgage REIT sector is 14%, says analyst Bose George - probably warranted given falling book values, though things stabilized in Q1 for at least a few. His favorites are Two Harbors (NYSE:TWO) at 78% of book with a 12% dividend yield, and there's also American Capital Agency (NASDAQ:AGNC), Annaly Capital (NYSE:NLY), Chimera Investment (NYSE:CIM), and MFA Financial (NYSE:MFA).
- BDCs, says Ryan Lynch, have been stung by credit fears and trade at an average 87% of book value. His favorites - Ares Capital (NASDAQ:ARCC) and Hercules Capital (NYSE:HTGC) - both yield near 10%.
- Property & casualty insurers have high "cash-on-cash returns" thanks to share buybacks, says Meyer Shields, with Hartford (NYSE:HIG) and AIG standing out on that front. His favorite stocks, however, are lower yielders like Allstate (NYSE:ALL), National General (NASDAQ:NGHC), and XL Group (NYSE:XL).
- KBW also offers a basket of high yielders through the PowerShares KBW High Dividend Yield Financial ETF (NYSEARCA:KBWD). The fund currently yields 9%, and is higher by 20% in the past three months.
- Source: Barron's
Wed, May 4, 5:03 PM
- Allstate (NYSE:ALL): Q1 EPS of $0.84 beats by $0.15.
- Revenue of $7.52B (+2.9% Y/Y) misses by $90M.
Tue, May 3, 5:35 PM
- AGO, ALDW, ALIM, ALJ, ALL, ANDE, ARCW, AREX, ARRS, ATO, AUY, AWK, AWR, BNFT, BREW, BRKR, CB, CBPO, CCRN, CDI, CECO, CENT, CF, CLR, CODI, CONE, CPE, CPSI, CSII, CSOD, CTL, CTLT, CUZ, CW, CWST, CXO, CXW, DAC, DOX, DPM, DVA, ECR, EPM, EQC, EQIX, ES, ETE, ETP, EXEL, FEIC, FICO, FIT, FLT, FLTX, FNV, FOXA, FRPT, FRSH, FRT, GDDY, GDOT, GHDX, GIL, GPOR, GTY, HABT, HASI, HDP, HIL, HIVE, HOS, HR, HRTG, HUBS, IAC, INFI, IO, IRG, JONE, KHC, KND, KONA, KTOS, KW, LGCY, LHCG, LNC, LNT, LPI, LPSN, LXU, MAA, MASI, MATX, MCHP, MCK, MED, MET, MHLD, MNR, MRO, MTRX, MTW, MUR, NCMI, NLY, NVAX, OHI, OME, ORA, OREX, OSUR, PAA, PAGP, PDLI, PE, PEIX, PHH, PNNT, PRI, PRU, QRVO, QUIK, RICE, RIG, RLJ, RLYP, RP, RRTS, RST, RYN, SBY, SKUL, SQNM, SRC, SUN, SWM, SXL, SZYM, TASR, TCAP, TEAR, THG, TLLP, TPC, TPUB, TRIP, TROX, TSLA, TSLX, TSO, TWO, VECO, VNDA, VRNS, WBMD, WFM, WFT, WGL, WMB, WMGI, WPG, WPX, WTI, WTS, WTW, XEC, XOXO, YUME, ZNGA
Thu, Apr. 21, 1:32 PM
- It was a rough quarter for property & casualty insurers, in part due to major Texas hail storms - with Travelers (TRV -5.6%), Progressive (PGR -2%), and Allstate (ALL -1.9%) all reporting sizable catastrophe losses tied to that event.
- Catastrophes come and go, but low interest rates are seemingly a permanent fixture in today's world. Travelers' net investment income slipped to $439M in Q1 from $478M a year earlier as the company - perhaps looking to boost income through non-fixed-income investments - saw lower returns thanks to volatile markets.
- Look past the catastrophe loss, says BMO's Charles Sebaski. More concerning is the business-insurance segment which looks to be showing signs of strain from a competitive pricing environment. Travelers reported customers paying 2.2% more at renewal in Q1 vs. a 3.7% increase a year ago.
- Now read: Travelers: What Happened? (April 21)
Wed, Feb. 17, 11:52 AM
- It's been a tough start to the year for commercial mortgage-backed securities, and insurers tend to hold this sort of paper in their fixed-income portfolios. Sandler O'Neill's John Barnidge checks on just how much:
- While in general, life insurers tend to have more exposure than property & casualty players, Barnidge was surprised at some high levels among the P&C names. Leading was Conifer (CNFR -3.9%) with 44.4% exposure. State Auto Financial (STFC -2.3%) is at 23.7%. Among large-caps, Progressive (PGR +1.1%) is tops with 17%, while XL Group (XL -1.1%), Cincinnati Financial (CINF +0.5%), Travelers (TRV +1.3%), and Allstate (ALL +0.5%) all have less than 5% exposure.
Fri, Feb. 12, 3:36 PM
- Allstate (NYSE:ALL) declares $0.33/share quarterly dividend, 10% increase from prior dividend of $0.30.
- Forward yield 2.06%
- Payable April 1; for shareholders of record Feb. 29; ex-div Feb. 25.
Wed, Feb. 3, 4:39 PM
- Allstate (NYSE:ALL): Q4 EPS of $1.60 beats by $0.25.
- Revenue of $7.55B (+3.6% Y/Y) misses by $50M.
Tue, Feb. 2, 5:35 PM
- AAV, ALL, AVB, AWH, BDN, BRKS, BWLD, BXP, CACI, CBL, CCK, CDNS, CEB, CINF, CPST, DHT, ENH, EPM, EXAR, FBHS, GEOS, GLUU, GPRO, HIVE, HUBG, ICUI, IMPV, LCI, LNC, MAA, MAC, MCHP, MDU, MET, MNR, MTGE, MTRX, MUSA, MWA, NE, NXPI, OSUR, PACB, PCL, PMT, PNNT, RE, RGLD, RRTS, SFLY, SPSC, TIS, TMK, TTWO, TWO, UHAL, WFT, WSTL, XL, YUM
Nov. 19, 2015, 12:32 PM
- Allstate (NYSE:ALL) declares $0.30/share quarterly dividend, in line with previous.
- Forward yield 1.9%
- Payable Jan. 4; for shareholders of record Nov. 30; ex-div Nov. 25.