Insider Selling: John D. Johns Sells 201,398 Shares of Protective Life Corp. Stock (PL)
Protective Life Corp. (NYSE:PL) CEO John D. Johns unloaded 201,398 shares of Protective Life Corp. stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $69.24, for a total transaction of $13,944,797.52. Following the sale, the chief executive officer now directly owns 327,268 shares in the company, valued at approximately $22,660,036. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
PL has been the subject of a number of recent research reports. 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 assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $61.80.
Protective Life Corp. (NYSE:PL) opened at 69.22 on Monday. Protective Life Corp. has a one year low of $41.26 and a one year high of $69.88. The stock’s 50-day moving average is $69.42 and its 200-day moving average is $58.0. The company has a market cap of $5.459 billion and a P/E ratio of 13.90. Protective Life Corp. also saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 572,012 shares, a decline 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 currently 0.6 days.
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. 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 1.39%. 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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