Insider Selling: Carl S. Thigpen Unloads 21,380 Shares of Protective Life Corp. Stock (PL)
Protective Life Corp. (NYSE:PL) EVP Carl S. Thigpen sold 21,380 shares of the stock on the open market in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $69.39, for a total value of $1,483,558.20. Following the sale, the executive vice president now directly owns 79,007 shares in the company, valued at approximately $5,482,296. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on PL shares. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Protective Life Corp. in a research note on Tuesday, July 1st. They now have a $70.00 price target on the stock, up previously from $49.00. Separately, analysts at Barclays downgraded shares of Protective Life Corp. from an “overweight” rating to an “equal weight” rating in a research note on Thursday, June 5th. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of Protective Life Corp. in a research note on Wednesday, June 4th. They now have a $70.00 price target on the stock, up previously from $53.00. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $61.80.
Shares of Protective Life Corp. (NYSE:PL) traded up 0.39% during mid-day trading on Friday, hitting $69.65. 762,160 shares of the company’s stock traded hands. Protective Life Corp. has a 52-week low of $41.26 and a 52-week high of $69.88. The stock has a 50-day moving average of $69.40 and a 200-day moving average of $57.34. The company has a market cap of $5.493 billion and a price-to-earnings ratio of 13.93.
Protective Life Corp. (NYSE:PL) last released its earnings data on Monday, August 4th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.11. During the same quarter in the previous year, the company posted $0.96 earnings per share. Analysts expect that Protective Life Corp. will post $4.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, August 14th.
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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