Nov. 3, 2014, 4:36 PM
Nov. 3, 2014, 2:24 PM
Nov. 2, 2014, 5:35 PM
- ACXM, AEIS, AGU, AIG, AMTG, ANV, APL, BDE, BKH, CHGG, CKP, CRK, CUTR, CVD, CXW, CYH, DXPE, EGAN, ELNK, ENH, EOX, EPAM, EQC, FN, FTR, GALE, GRT, GTY, HLF, IART, ININ, KAMN, KBR, LCI, MCEP, MDU, MR, MRO, NBIX, NLS, NOR, NTRI, OGS, OTTR, PKT, PL, PLOW, PQ, QLYS, RBC, REG, RKT, RKUS, RLD, RTEC, SALE, SBRA, SGY, SKH, SNHY, SRC, SSW, SUP, TDW, THC, TXRH, VNO, VNR, WTR, Y
Aug. 4, 2014, 4:40 PM
- After-tax operating income of $106.4M or $1.31 per share vs. $77.7M and $0.96 a year ago.
- Life Marketing segment pre-tax operating income of $26.3M vs. $24.6M a year ago mostly due to higher investment income. Sales of $32.8M fell 26%.
- Acquisitions segment pre-tax operating income of $64.9M up from $29.4M a year ago thanks to the MONY acquisition.
- Annuities segment pre-tax operating income of $55.3M up from $36.4M primarily due to a favorable change in credited interest and lower DAC amortization. Variable annuity sales of $227.3M down from $718.9M; fixed annuity sales of $213.6M up from $138.1M.
- The sale of PL to Dai-ichi Life is progressing and still expected to close late this year or early next.
- Previously: Protective Life Corporation beats by $0.11
Aug. 4, 2014, 4:21 PM
Aug. 4, 2014, 3:06 PM
Aug. 3, 2014, 5:35 PM
- ACLS, ACXM, AEIS, AIG, ANV, APL, AREX, BRS, CAR, CHGG, CKEC, CKP, CNQR, CRK, CUTR, DRC, ECOM, ELNK, ENH, EOX, EPAM, GTAT, ININ, IRWD, JMBA, KAMN, KONA, LF, LLNW, LMNS, MCEP, MDR, MRO, MWA, NLS, OGS, OTTR, PHH, PL, PLOW, PXD, QLYS, REGI, ROSE, RP, RTEC, SALE, SNHY, THC, TNET, TNET, TSRA, TXRH, VNO, VNR, VVC, WAGE, Y
Jun. 4, 2014, 12:48 PM
Jun. 4, 2014, 9:13 AM
Jun. 4, 2014, 5:50 AM
- In what would be the largest-ever purchase of a foreign company by a Japanese insurer, Dai-ichi Life Insurance is paying about $5.7B, or $70 per share in cash for Protective Life (PL), The price represents a 34% premium to Friday's close, not to mention a significant bump from yesterday's rumored $4.9B price tag.
- The deal comes as Japanese life insurers - facing demographic issues back home - look overseas for expansion, and apparently are willing to pay a premium price to get it. Protective Life CEO John Johns says Dai-ichi management has encouraged the team at Protective to continue to look for acquisitions of smaller U.S. targets.
- Shares +17.5% premarket to $69.
Jun. 2, 2014, 12:50 PM
Jun. 2, 2014, 7:31 AM
- "Entering the U.S. market has been a goal of Dai-ichi's for some time, " says an analyst, noting the demographic decline in Japan, and Bloomberg reports the company in talks to buy Protective Life (PL) for around $4.9B. Protective's valuation as of Friday's close was $4.12B
- Funding would be an issue, and Dai-ichi closed 5% lower in Tokyo action amid reports of a massive stock offering.
May. 20, 2014, 7:04 AM
May. 16, 2014, 11:56 AM
- Raymond James upgrades Bank of the Ozarks (OZRK -0.2%) to Outperform with $67 PT.
- Home Bancshares (HOMB +1.8%) is boosted to a Buy at both KBW and Drexel Hamilton
- Credit Suisse upgrades NASDAQ OMX (NDAQ -0.6%) to Buy with $42 PT.
- Bank of America boosts Protective Life (PL +0.1%) to Buy and sets a $62 PT.
- KBW upgrades Stonegate Mortgage (SGM +4.4%) to Outperform with $17 PT after the company reported earnings yesterday.
- Bank of America downgrades Assurant (AIZ -1.3%) to Under Perform with a $73 PT.
May. 15, 2014, 11:43 AM
- Hit particularly hard in today's selloff are the life insurers, whose hopes of beginning to get better returns on their fixed-income investments in 2014 look dashed at the moment.
- Off another six basis points today to 2.48%, the 10-year Treasury yield - above 3% at the start of this year - is all the way back to levels seen last summer.
- Leading the decline is Lincoln National (LNC -6%). Others: MetLife (MET -3.2%), Prudential (PRU -3.7%), Protective Life (PL -3.8%).
- Related ETFs: KIE, IAK, KBWP, KBWI
- Previously: Strong economic data doesn't slow Treasury rally; Wal-Mart in focus
May. 12, 2014, 11:32 AM
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