Wed, Nov. 30, 9:08 AM
- Allstate (NYSE:ALL) was off sharply yesterday following the announcement of its purchase of SquareTrade, but KBW analyst Meyer Shields says it's a buying opportunity, and lifts his price target on the Outperform-rated stock to $77 from $74 (12% upside from yesterday's close).
- Though "a little nervous" about the purchase price and execution, Shields is "cautiously optimistic" about the cross-selling outlook as the deal diversifies Allstate's product offerings.
- Wells Fargo's Elyse Greenspan (who also rates ALL an Outperform) says revenue from SquareTrade has the potential to compensate from lost sales on the shift to driverless cars.
- Source: Bloombeg
Mon, Nov. 28, 5:57 PM
- Allstate (NYSE:ALL) -1.4% AH after agreeing to acquire privately held Squaretrade, which sells warranties for electronic products, for ~$1.4B from a group of shareholders that includes Bain Capital.
- ALL says Squaretrade will expand its customer relationships with 25M protection plans for consumer electronics and connected devices, but will be dilutive to its EPS for three years.
- ALL says it will acquire SquareTrade utilizing corporate cash and debt issuance, but with no impact on its existing share repurchase program.
Fri, Nov. 18, 12:44 PM
Thu, Nov. 17, 12:18 PM
- In no surprise, the list is dominated by the ripping financial sector:
- Allstate (ALL +1.4%)
- Ameriprise (AMP +0.2%)
- TD Ameritrade (AMTD +1.6%)
- BB&T (BBT +2.1%)
- Citigroup (C +2.4%)
- Citizens Financial (CFG +2%)
- Comerica (CMA +1.5%)
- CNA Financial (CNA +0.6%)
- Loews Corp. (L +0.9%)
- Marsh & McLennan (MMC +1.9%)
- PNC Financial (PNC +2.6%)
- Royal Bank of Canada (RY +0.7%)
- U.S. Bancorp (USB +1.9%)
- Aetna (AET +1.5%)
- Best Buy (BBY +10.4%)
- CBS (CBS +0.6%)
- Celanese (CE +0.1%)
- Comcast (CMCSA +1.5%)
- Dell Technologies (DVMT +1.1%)
- The Gap (GPS +0.4%)
- Humana (HUM +1.4%)
- KLA-Tencor (KLAC +2.7%)
- Liberty Media (LMCA +1.6%)
- Lam Research (LRCX +1.9%)
- Micron (MU +5.3%)
- Nvidia (NVDA +2.7%)
- Rockwell (ROK -0.5%)
- Teck Resources (TCK +0.5%)
- Texas Instruments (TXN +1.1%)
- New lows:
- Novo Nordisk (NVO +0.3%)
Wed, Nov. 2, 4:43 PM
Tue, Nov. 1, 5:35 PM
- ACLS, ADSW, AEL, AIG, ALIM, ALL, ALNY, ALSK, AMRS, ARC, AREX, AVD, AWK, AWR, BBRG, BCOV, BEAT, BGC, BKCC, BKFS, BKH, BREW, BRKR, CABO, CAR, CBPO, CCRN, CDI, CF, CGI, CHEF, CLR, CODI, COHR, CPE, CSGS, CSLT, CWEI, CXW, DMRC, DPLO, DPM, DVA, ENSG, EPAY, EQC, EQIX, ERII, ESRT, EVTC, EXAR, EYES, FB, FIT, FMC, FMI, FNF, FOE, FRSH, FRT, FSLR, FTK, G, GDDY, GPOR, HABT, HASI, HBM, HIVE, HOLX, HOS, HR, HSTM, HUBS, IAC, IL, INN, INOV, IO, IOSP, IRG, ITRI, IXYS, JONE, JRVR, KEYW, KGC, KTOS, LGCY, LHCG, LNC, LOPE, LPI, LPLA, LQ, LSI, MANT, MASI, MCHX, MDU, MET, MGNX, MHLD, MRO, MTGE, MUSA, MWA, NBIX, NGHC, NLY, NPO, NSTG, NVDQ, OESX, OME, OSUR, OTTR, PAA, PACB, PAGP, PE, PEGA, PEI, PEIX, PGRE, PRA, PRAH, PRU, PTCT, QCOM, QGEN, QTWO, QUIK, REGI, REXR, RGLD, RICE, RIG, RLJ, RMP, ROG, RRD, RRGB, RRTS, RUBI, RXN, RYN, SBRA, SBY, SF, SRC, SWM, TCAP, TEP, TPC, TROX, TTEC, TTWO, TVIA, TWO, VNDA, VVC, WFM, WMC, WMGI, WPG, WPX, WSTL, WTI, WTS, WYNN, XEC, XOXO, XPO, ZNGA
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
- AEL, AGO, AGU, ALB, ALIM, ALL, ANDE, AREX, ATO, AWK, AWR, BBRG, BFAM, BGC, BIO, BKH, BNFT, BREW, BYD, CABO, CBPX, CCRN, CDI, CECO, CF, CHDN, CIM, CLR, CNAT, CODI, CPA, CSGS, CSII, CTL, CXW, DENN, DEPO, DK, DKL, DPM, ECR, EPE, EPR, EQIX, ERII, ETE, ETP, EVC, EVHC, EXAR, EXEL, EXTR, FIVN, FOXA, FRGI, FRSH, FSLR, G, GBDC, GDDY, GERN, GPOR, HABT, HASI, HI, HIL, HIVE, HLF, HOS, HR, HRTG, HUBS, IAG, IL, INOV, IO, IRG, ITRI, JACK, JCOM, JONE, JRVR, LGCY, LHCG, LNC, LPI, MASI, MC, MED, MET, MNR, MRO, MTDR, MUSA, MWA, NBIX, NKTR, NLY, NNBR, NP, NSIT, NSTG, OAS, OME, OSUR, PDM, PE, PEGA, PMT, PODD, PRA, PRU, PRXL, QLYS, QTWO, QUIK, REXR, RICE, RIG, RIGP, RLJ, RMP, RNG, RP, RST, RYN, SBY, SEMI, SGMO, SNCR, SQ, SQNM, SRC, SSS, STAA, STR, SUN, SWM, SXL, TCAP, TDOC, TEAR, TEP, TLLP, TRIP, TRNC, TROX, TS, TSLA, TSLX, TSO, TTEC, TWO, UHAL, VTAE, VVC, WCN, WGL, WMC, WPG, WPX, WU, XEC, XPO
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