Zacks Reiterates “Neutral” Rating for Protective Life Corp. (PL)
Protective Life Corp. (NYSE:PL)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Monday, AnalystRatings.Net reports. They currently have a $45.00 target price on the stock. Zacks‘ target price would indicate a potential upside of 5.76% from the company’s current price.
Zacks‘ analyst wrote, “Protective Life boasts a diversified business profile and superior operating profitability. The recent acquisitions has enabled the company to enter new regions. Protective Life has also been changing its sales mix to improve life insurance margins and reduce interest rate exposure. However, headwinds such as weakness in Life marketing business and low interest rates will continue to weigh on the results. We, however, expect the company to generate robust flows in its annuity business on the back of growth in the variable annuity product and healthy sales growth in the asset protection division. A strong balance sheet with adequate risk adjusted capitalization at each of its operating entities is another positive. We thus maintain our Neutral recommendation on Protective Life. “
A number of other firms have also recently commented on PL. Analysts at Raymond James downgraded shares of Protective Life Corp. (NYSE:PL) from a “strong-buy” rating to an “outperform” rating in a research note to investors on Friday, August 2nd. They now have a $51.00 price target on the stock, up previously from $49.00. Separately, analysts at Scotiabank raised their price target on shares of Protective Life Corp. (NYSE:PL) from $45.00 to $50.00 in a research note to investors on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Protective Life Corp. presently has a consensus rating of “Hold” and a consensus target price of $41.63.
Shares of Protective Life Corp. (NYSE:PL) traded down 1.46% during mid-day trading on Monday, hitting $42.55. 422,527 shares of the company’s stock traded hands. Protective Life Corp. has a 52 week low of $24.67 and a 52 week high of $46.09. The stock has a 50-day moving average of $43.02 and a 200-day moving average of $39.. The company has a market cap of $3.340 billion and a P/E ratio of 11.39.
Protective Life Corp. (NYSE:PL) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.96 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.94 by $0.02. During the same quarter last year, the company posted $0.91 earnings per share. On average, analysts predict that Protective Life Corp. will post $3.94 earnings per share for the current fiscal year.
Protective Life Corporation is a holding company. The Company, along with its subsidiaries, provides financial services through the production, distribution, and administration of insurance and investment products.
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