Insider Selling: Steven G. Walker Unloads 7,285 Shares of Protective Life Corp. Stock (PL)
Protective Life Corp. (NYSE:PL) SVP Steven G. Walker sold 7,285 shares of Protective Life Corp. stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $69.33, for a total value of $505,069.05. Following the completion of the transaction, the senior vice president now directly owns 17,427 shares in the company, valued at approximately $1,208,214. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Protective Life Corp. (NYSE:PL) opened at 69.22 on Monday. 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 $69.42 and its 200-day moving average is $58.0. The company has a market cap of $5.459 billion and a price-to-earnings ratio of 13.90. Protective Life Corp. also was the target of a significant drop in short interest in 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 trading volume, of 907,875 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.7% of the company’s stock are sold short.
Protective Life Corp. (NYSE:PL) last posted its quarterly 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 announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.39%. The ex-dividend date 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Protective Life Corp. 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.
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