Insider Selling: Protective Life Corp. SVP Sells 3,138 Shares of Stock (PL)
Protective Life Corp. (NYSE:PL) SVP D Scott Adams sold 3,138 shares of Protective Life Corp. stock on the open market in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $69.75, for a total value of $218,875.50. Following the completion of the transaction, the senior vice president now directly owns 51,286 shares of the company’s stock, valued at approximately $3,577,199. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Protective Life Corp. (NYSE:PL) traded down 0.26% on Wednesday, hitting $69.51. The stock had a trading volume of 328,861 shares. Protective Life Corp. has a one year low of $41.26 and a one year high of $69.88. The stock has a 50-day moving average of $69.43 and a 200-day moving average of $57.78. The company has a market cap of $5.482 billion and a P/E ratio of 13.99. Protective Life Corp. also was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 572,012 shares, a decrease of 45.2% from the July 15th total of 1,044,338 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily volume of 907,875 shares, the short-interest ratio is presently 0.6 days.
Protective Life Corp. (NYSE:PL) last issued its quarterly earnings data on Monday, August 4th. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.20 by $0.11. During the same quarter in the prior year, the company posted $0.96 earnings per share. Analysts expect that Protective Life Corp. will post $4.96 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.
A number of research firms have recently commented on PL. 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $61.80.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.