Mon, Oct. 20, 10:53 AM
- There are no details available, but the common thread for all the downgraded names were hopes of higher interest rates bringing higher earnings. Over the past few weeks, however, expectations of a mid-year 2015 rate hike have been pushed back closer to the end of the year, and the 10-year Treasury yield has fallen all the way to 2.19%.
- Community banks downgraded: BancFirst (BANF -0.2%) and People's United Financial (PBCT +1%) to Market Perform from Outperform, and Preferred Bank of L.A. (PFBC -1.8%) to Outperform from Strong Buy.
- Life insurers downgraded: Primerica (PRI -0.4%) and Principal Financial Group (PFG -1%) to Market Perform from Outperform.
Fri, Aug. 8, 4:07 PM
Wed, Aug. 6, 4:30 PM
Wed, Jun. 4, 10:28 AM
- The life insurance sector mostly in the green after Dai-ichi purchases Protective Life for nearly 1.7x March 31 book value (excluding AOCI).
- Not exactly take-out candidates, MetLife (MET +2.5%) trades for 1.1x book and Prudential (PRU +2.5%) at 1.4x book. Lincoln National (LNC +1.9%) - with a market cap of $13.4B - trades for 1.1x book.
- Others: Primerica (PRI +0.5%), Kansas City Life (KCLI +0.5%).
- Previously: Dai-ichi snaps up Protective Life
Fri, May. 9, 4:52 PM
Mon, May. 5, 4:09 PM
Sun, May. 4, 5:35 PM
- AEIS, AIG, APC, APL, ARE, AXLL, BDE, BNFT, CATM, CFN, CKEC, CKP, CRK, DATA, ECOL, ECOM, EGOV, ELNK, ENH, EOG, EOX, FLDM, FN, G, HCLP, HGR, HI, IDTI, ININ, KAR, LF, MCEP, MED, MR, NLS, OAS, OTTR, PIKE, PRI, PSMI, QLYS, RBC, RGR, ROSE, RWT, SALE, SKH, SMG, SNHY, STAG, SZYM, THC, TXRH, UAM, VECO, VNO, VVUS, WG, YY, ZIPR.
Tue, Feb. 11, 9:52 AM
- Primerica (PRI +8.1%) soars in the early-going after blowing through earnings estimates and getting an upgrade to Outperform with $51 price target by KBW.
- The company expects to repurchase up to $150M of shares this year.
- Operating revenues of $326.3M up 8% Y/Y, with NOI of $46.8M up 12%. NOI per share increased 22% to $0.84 and ROE grew to 16.4%. Term Life Insurance segment revenue of $180.1M grew 10% from a year ago, while Investment and Savings Products segment revenues of $120.3M grew 10% as well.
- Press release, Q4 results
Mon, Feb. 10, 4:17 PM
Mon, Feb. 10, 12:10 AM
Sun, Feb. 9, 5:35 PM
Fri, Feb. 7, 4:43 PM
Mon, Jan. 27, 3:40 PM
- The prospect of higher rates helped the life insurers on their big 2013 run, but - priced in and with rates still pretty low - what's going to be the catalyst going forward? Maybe capital management, namely repurchases, writes Adam Cancryn. Buybacks can be made when convenient and boosts EPS in this slow growth environment, while dividends lock the company into a quarterly payout schedule it may not want to keep.
- Acquisitions? Sector valuations are a lot closer to historical norms now, says Macquarie's Sean Dargan, and a deal might be the way for a company looking to spur growth and attract investor attention. "At the end of the day, you want there to be earnings growth, not just EPS growth due to share repurchase," Dargan says. "If you can't do that organically, I think it makes sense to be acquisitive."
- The bottom line is lower rates fed through (in a negative way) to the bottom line very slowly, and higher rates are going to boost income just as slowly. Performance going forward might be less about industry conditions and more about individual strategic decisions.
- "We started out the year recommending everything," says RayJay's Steven Schwartz. "We're down to four companies, which tells you where my head is at."
- Names of interest: MET, PRU, MFC, SLF, PRI, VOYA, PL, LNC.
Nov. 11, 2013, 4:59 PM
Nov. 6, 2013, 4:07 PM
Nov. 6, 2013, 12:10 AM
- ACLS, ACXM, ALNY, ALSK, AMTG, ANDE, ATO, ATVI, AWAY, AWK, BALT, BIOS, BKD, CBS, CECO, CKP, CLR, CODI, CPE, CTL, CVG, CXO, CXW, DCTH, DGIT, DK, DVR, DXCM, ENS, ERII, EVC, FLTX, FTK, G, GA, GNK, HIMX, HNSN, HT, INWK, IO, LPSN, MAA, MDLZ, MKL, MRIN, NDLS, NLY, NVTL, OAS, OILT, OSUR, PDLI, PHH, PMT, PMTC, PRI, PRU, QCOM, RIG, RJET, ROSE, RST, SCTY, SLCA, SN, TCAP, TEG, TPX, TS, TSO, TWTC, UHAL, WAC, WES, WFM, WG, WTI
PRI vs. ETF Alternatives
Primerica, Inc., is a distributor of financial products to middle income households in the United States and Canada. It assists its clients in terms of life insurance, mutual funds, annuities and other financial products.
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