Insider Selling: Carl S. Thigpen Sells 27,353 Shares of Protective Life Corp. Stock (PL)
Protective Life Corp. (NYSE:PL) EVP Carl S. Thigpen sold 27,353 shares of Protective Life Corp. stock on the open market in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $69.36, for a total transaction of $1,897,204.08. Following the transaction, the executive vice president now directly owns 51,654 shares in the company, valued at approximately $3,582,721. The sale was disclosed in a document filed with the SEC, which is available at 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 company. The stock currently has an average rating of “Hold” and an average target price of $61.80.
Protective Life Corp. (NYSE:PL) traded down 0.09% on Thursday, hitting $69.20. 791,563 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’s 50-day moving average is $69.43 and its 200-day moving average is $57.86. The company has a market cap of $5.457 billion and a price-to-earnings ratio of 13.91. Protective Life Corp. also saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 572,012 shares, a drop of 45.2% from the July 15th total of 1,044,338 shares. Based on an average daily volume of 907,875 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.7% of the shares of the company are sold short.
Protective Life Corp. (NYSE:PL) last announced its earnings results 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. On average, analysts predict that Protective Life Corp. will post $4.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors 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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