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2024-11-01 | GlobeNewswire | Lavras Gold appoints Naomi Nemeth to the position of Vice President, Investor Relations | TORONTO, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Lavras Gold Corp. (TSXV: LGC, OTCQB: LGCFF) is pleased to announce the appointment of Naomi Nemeth to the newly created position of Vice President, Investor Relations. Ms. Nemeth will be responsible for building and maintaining a comprehensive investor relations program, for communicating with both institutional and retail investors globally and for furthering the development of Lavras Gold’s business and growth strategy. Ms. Nemeth will work with senior management to implement an aggressive institutional shareholder outreach program in the Americas and Europe, will continue Lavras Gold’s ongoing outreach to valued existing and potential new retail shareholders, and will approach non-traditional potential shareholder groups to generate interest in the Lavras success and growth story. “On behalf of the board and management of Lavras, I would like to welcome Ms. Nemeth to our team of professionals as we look forward to augmenting our roster of quality shareholders, highlighting our development progress in new investor markets and increasing shareholder value as we progress through our growth strategy,” commented CEO Michael Durose. Naomi Nemeth is a seasoned Investor Relations professional with more than 25 years' experience. Focused on the mining industry for the past 18 years, Ms. Nemeth has held senior management positions with companies such as HighGold Mining (Alaska Johnson gold project), Constantine Metal Resources (Alaska Palmer zinc project), Banro Corporation (gold production in the Democratic Republic of the Congo), Coro Mining (copper production in Chile), Desert Sun Mining (gold production in Brazil), Wolfden Resources (exploration in Ontario), African Copper (gold in Botswana), and Continental Gold (gold in Colombia). Ms. Nemeth has also led junior mining companies as CEO (MetalCorp Inc., Rockex Mining) and has served as a director on several exploration company boards throughout the past 15 years. In addition, Ms. Nemeth has held senior Investor Relations and Communications roles within the pharmaceutical industry (Biovail, MDS, Glaxo) and the financial services sector (Clarica, Manulife). Ms. Nemeth began her career as a geologist working in the Yukon, Northwest Territories and Ontario and has an undergraduate degree in geology and biology from Brock University and a master’s degree in journalism from the University of Western Ontario. Ms. Nemeth will be based in Toronto. About Lavras Gold Lavras Gold (TSXV: LGC, OTCQB: LGCFF) is a Canadian exploration company focused on realizing the potential of a multi-million-ounce gold district in southern Brazil. Its Lavras do Sul Project is located in Rio Grande do Sul State and is primarily an intrusive hosted gold system of possible alkaline affinity. More than 23 gold prospects centred on historic gold workings have been identified on the property, which spans more than 22,000 hectares. Follow Lavras Gold onwww.lavrasgold.com, as well as onLinkedIn,Twitter, andYouTube. Contact information Michael Durose, President & CEO, orNaomi Nemeth, Vice President, Investor Relationsinvestor@lavrasgold.comwww.lavrasgold.com DISCLAIMER AND FORWARD-LOOKING INFORMATION Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release. |
2024-10-30 | Marketscreener.com | Sun Life hosts third quarter 2023 earnings conference call | TORONTO,Oct. 30, 2023/PRNewswire/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) will release its third quarter 2023 financial results onMonday, November 13, after markets close. Sun Life will hold its earnings conference call and live webcast at10:00 a.m. ETthe following day. Date:Tuesday, November 14, 2023 Time:10:00 a.m. ET To access the call and presentation via live webcast, pleaseclick here.To access the call via telephone, pleaseclick here. The webcast replay will be available after the event. Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, includingCanada,the United States, theUnited Kingdom,Ireland,Hong Kong,the Philippines,Japan,Indonesia,India,China,Australia,Singapore,Vietnam,MalaysiaandBermuda. As ofJune 30, 2023, Sun Life had total assets under management of$1.37 trillion. For more information please visitwww.sunlife.com. Sun Life Financial Inc. trades on theToronto(TSX),New York(NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. Note to editors: All figures in Canadian dollars Media Relations Contact: Investor Relations Contact: Krista Wilson David Garg Director Senior Vice-President, Capital Corporate Communications Management and Investor Relations T. 226-751-2391 T. 416-408-8649 krista.wilson@sunlife.com david.garg@sunlife.com View original content to download multimedia:https://www.prnewswire.com/news-releases/sun-life-hosts-third-quarter-2023-earnings-conference-call-301971294.html SOURCE Sun Life Financial Inc. |
2024-10-03 | Marketscreener.com | Sun Life completes the acquisition of Dialogue, Canada's premier health and wellness virtual care platform | TORONTO,Oct. 3, 2023/PRNewswire/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) announced today the completion of its acquisition of Dialogue Health Technologies Inc. ("Dialogue") (TSX:CARE). Headquartered inMontreal, Quebec, Dialogue offers affordable, on-demand access to quality care. Providing service to companies inCanadaand internationally, nearly 2.8 million members across 50,000 organizations have access to Dialogue's healthcare team. InMarch 2020Sun Life rolled out Dialogue's services to its Group Benefits Clients under the name Lumino Health Virtual Care. Over 800,000 Sun Life Clients and their family members, including Sun Life employees, have access to this service. Dialogue will operate as a standalone entity of Sun Life Canada. They will continue to provide services to all their customers and distribution partners. The original news release related to this announcement is availablehere. Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, theUnited States, the United Kingdom, Ireland, Hong Kong, thePhilippines,Japan,Indonesia,India,China,Australia,Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2023, Sun Life had total assets under management of $1.37 trillion. For more information please visitwww.sunlife.com. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF. Prior to the completion of the acquisition of Dialogue, Sun Life, through its wholly-owned subsidiary, Sun Life Assurance Company ofCanada("SLA"), owned 15,211,571 of the issued and outstanding common shares of Dialogue (the "Common Shares"), representing approximately 22.6% of the issued and outstanding Common Shares. Following completion of the acquisition of Dialogue, Sun Life beneficially owns, directly or indirectly, approximately 95% of the issued and outstanding shares of Dialogue. With the closing of the acquisition of Dialogue, the Common Shares are expected to be delisted from the Toronto Stock Exchange shortly after the date hereof and Dialogue will also submit an application to cease to be a reporting issuer under applicable Canadian securities laws. An early warning report will be filed by SLA in accordance with applicable securities laws and will be available on Dialogue's SEDAR+ profile atwww.sedarplus.caor may be obtained directly fromDavid Garg, Senior Vice-President, Capital Management and Investor Relations (tel: (416) 408-8649; email:david.garg@sunlife.com), 1 York Street, 31st floor,Toronto, Ontario, M5J 0B6. Dialogue's head and registered office is located at 390 Notre-Dame Street West, Suite 200, Montréal, Québec, H2Y 1T9. SLA is organized under theInsurance Companies Act(Canada). Note to editors: All figures in Canadian dollars. Media Relations Contact:Gannon LoftusDirectorCorporate CommunicationsT. 647-228-8244gannon.loftus@sunlife.com Investor Relations Contact:David GargSenior Vice-President, CapitalManagement and Investor RelationsT. 416-408-8649david.garg@sunlife.com View original content to download multimedia:https://www.prnewswire.com/news-releases/sun-life-completes-the-acquisition-of-dialogue-canadas-premier-health-and-wellness-virtual-care-platform-301945989.html SOURCE Sun Life Financial Inc. |
2024-10-04 | Marketscreener.com | Manulife Financial : launches $1 million partnership with lending platform Kiva | Toronto- Manulife has entered into a $1 million partnership with Kiva to help the global crowdfunding microlending platform support entrepreneurs globally and expand its reach in Southeast Asia. Manulife will give $500,000 to help Kiva build capacity and reach more borrowers in the Philippines, Vietnam, Cambodia, and Indonesia. The remainder will go directly into funding loans, including through the creation of the Manulife Match Fund, which will double individual contributions made through the Kiva platform to help borrowers meet their goals faster. The initiative advances Manulife's Impact Agenda, one of whose pillars is to support inclusive economic opportunity globally. Manulife shares Kiva's belief that, at the core of every global issue is people trying to build a better future, and that the solution to the world's most pressing challenges lies in investing in them. Given this, and our growing presence in Asia, the partnership with Kiva makes perfect sense. "There's power in collective impact, where individuals from around the world can pool together resources to support entrepreneurs in other parts of the world," said Tom Crohan, Manulife's Global Head of Community Investment. Making lives better Roeurm is a Cambodian farmer with big dreams. The 59-year-old mother of two and wife wants to grow her business and fix up her home. Her more immediate need to achieve these goals: purchase more seeds and fertilizer to keep her farm going. To fund this, she turned to local lender Chamroeun Microfinance for a US$1,450 loan. Chamroeun, in turn, went to its partnerKiva, which enables individuals around the world to lend as little as US$25 to specific borrowers -- like Roeurm - they choose personally through Kiva's platform. Kiva's unique focus on crowdfunding loans, rather than donations, gives entrepreneurs agency by empowering them to repay their debt when they meet their goals. And the repaid money can then be lent to someone else, magnifying its impact. Most of Kiva's two million-plus lenders have contributed less than $100, but these loans have a multiplier effect of three times. Kiva also offers credits that can be awarded to others to make loans. "This feature gives us a meaningful avenue for customer and agent engagement campaigns, enabling us to invite others in our network to join us in driving impact in their local communities or beyond," Crohan said. Gaps in financial systems have kept over 1.4 billion people around the world from building a better future for themselves and their families. We believe that helping unlock the potential that has been held back by this inequity will help advance our goal of building a better business to better the world. Attachments Disclaimer Manulife Financial Corporationpublished this content on04 October 2023and is solely responsible for the information contained therein. Distributed byPublic, unedited and unaltered, on04 October 2023 12:07:12 UTC. |
2024-11-03 | The Times of India | Gold ETFs or Sovereign Gold Bonds (SGB): Where should you invest on Dhanteras 2023? | Getty Images Gold buying in Dhanteras 2023. Buying gold especially during festival time is a tradition followed by many Indians as it is considered auspicious and is thought to bring good luck. Dhanteras falls on November 10 and 11, 2023. If you are looking at investing in paper gold you can do it either through Gold exchange-traded funds (ETFs) or Sovereign Gold Bonds (SGBs). Unlike physical gold, you will not get physical possession of the gold instead you hold it as an investment which can be redeemed when you need it. The SGBs will be sold through Scheduled Commercial banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges like NSE and BSE. SOVEREIGN GOLD BONDS The government launched the sovereign gold bonds scheme in 2015. Rather than owning gold in physical form and keeping it idle without earning anything on it, SGB gives you the opportunity to own gold and earn interest on it. SGB is not available 'on-tap basis' and instead the government intermittently opens a window for the fresh sale of SGBs to investors. The latest Sovereign Gold Bond (SGB) tranche was open for subscription on September 11 and closed on September 15, 2023. The Reserve Bank of India (RBI) has kept the settlement date of this tranche of Sovereign Gold Bond Scheme 2023-24 Series as September 20, 2023. The issue price of SGB will be based on simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited for the last 3 working days of the week preceding the subscription period. The issue price of the gold bonds will be Rs 50 per gram less for those who subscribe online and pay through digital mode. Also read: Want to invest in Sovereign Gold Bonds? 7 watch outs to know before investing in SGB For investors looking to purchase SGBs anytime in between, the only way is to buy earlier issues (at market value) listed in the secondary market. While physical gold bought from jewellers or banks could come at a premium, of somewhere around 10 percent, the price of SGB is close to the actual price of gold. Investments: Minimum investment in the SGB is one gram with a maximum limit of subscription of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities notified by the government from time to time per fiscal year (April - March).If payment is made in cash, the maximum amount of limit is Rs 20, 000. If there is a joint holding, the first application is subject to the cap. The annual ceiling will cover bonds bought on the secondary market as well as those subscribed for under various tranches during the government's first issuance. The holdings used by banks and other financial institutions as collateral will not be included in the investment ceiling. When you invest, an investor ID is issued which tracks the total investment made. You will also be issued a holding certificate. The bonds are also eligible for conversion into demat form. Only bonds held in demat form with depositories can be traded on stock exchanges. Tenor and interest rate: The bonds come with a tenor of eight years with exit options available in the 5th, 6th and 7th years, to be exercised on the interest payment dates. The government has fixed an interest of 2.50 per cent per annum on the investment, with no compounding of interest. The interest will be paid in half-yearly rests and the last one shall be payable on maturity along with the principal. Taxation: SGBs are a tax-efficient investment since they provide investors with tax advantages. If the investment is kept to maturity, capital gains on the redemption of SGBs are exempt from capital gains tax. Capital gains tax is applicable if SGBs are sold before maturity. Note that SGB interest income is subject to taxation under the Income Tax Act, it is also eligible for indexation advantages. No tax benefits are available for the deposit of Sovereign Gold Bonds (SGBs) under Section 80C of the Income Tax Act. Also read: Buying gold jewellery this Diwali? How to check purity of gold jewellery using BIS app Liquidity: Investment in Gold ETFs is more liquid as compared to investment in SGB. Redeeming the units is entirely online and without any lock-in period in case of Gold ETFs. Gold ETFs An alternate way of owning paper gold more cost-effectively is through gold ETFs. Such investments happen on a stock exchange (NSE or BSE) with gold as the underlying asset. Pricing: The high initial buying and even selling charges that come with owning gold jewellery, bars or coins gives an extra edge to the low-cost gold ETF. The transparency in pricing is another advantage. The price on which it is bought is probably the closest to the actual gold prices and therefore the benchmark is the physical gold price. Investments: What you need is a trading account with a share broker and a demat account. One may either buy in lump sum or even at regular intervals. You can invest for as low as 1 gram of gold. It is advisable to invest systematically rather than try to time the market. Gold ETF's listed on NSE Mirae Asset Gold ETF Quantum Gold Fund LIC MF Gold ETF Axis Gold ETF Aditya Birla Sun Life Gold ETF ICICI Prudential Gold Exchange Traded Fund HDFC Gold Exchange Traded Fund DSP Gold ETF Invesco India Gold ETF SBI Gold ETF Nippon India Gold Exchange Traded Fund Charges: Even though there are no entry or exit charges, you should factor in these two costs. First, is the expense ratio (for managing the fund) of around 1 percent. Second, is the broker cost that needs to be accounted for every time you buy or sell gold ETF units. Taxation: "When unitholders make a profit on the redemption of gold ETF units, they will have to pay capital gains tax. In Gold ETFs, taxes are applicable on both long- and short-term capital gain. Long-term capital gains tax is taxed at 20% after indexation on gold ETF investments held for more than 36 months. For investment held up to 36 months shall be treated as short-term capital gain, the capital gains tax will be levied as per applicable tax slab of unitholders. As opposed to buying or investing in other forms of gold, gold ETFs do not attract wealth tax, GST, or security transaction tax," as per the Nippon India Mutual Fund website. Liquidity: However, a gold ETF is more liquid. Further, owing ETF units is much easier than SGB as the process is done entirely online. What should you opt for? Before you make your investment decision, narrow down on the reason as to why you want to invest -- is it for an occasion like a wedding or is it for wealth creation. Further, make sure you do not put in more than 10 percent of total portfolio in gold, be it physical or paper gold. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on sovereign gold bonds gold etfs sgb dhanteras 2023 gold buying (Your legal guide on estate planning, inheritance, will and more.) Download The Economic Times News App to get Daily Market Updates & Live Business News. ... more less Read Next Diwali home loan, car loan offers: PNB, SBI, other banks Free Govt bot removing tools: Protect yourself from frauds 8.2% interest: Can you open multiple SCSS accounts? New traffic e-challan fraud: How to identify, avoid it Income tax implications of investing in minor's name Rent agreement clauses that protect tenants With 6.7% rate, is post office RD better than bank RD? How to save Rs 1.23 lakh tax with company leased car 2 NPS rule changes that can benefit subscribers Who is not eligible to buy digital gold in India 1 2 3 4 5 6 7 8 9 10 |
2024-11-04 | ETF Daily News | Manulife Financial Co. (NYSE:MFC) Shares Sold by Coastline Trust Co | Coastline Trust Co decreased its stake in Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,320 shares of the financial services provider’s stock after selling 3,480 shares during the quarter. Coastline Trust Co’s holdings in Manulife Financial were worth $914,000 as of its most recent SEC filing. Several other institutional investors have also modified their holdings of MFC. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Manulife Financial in the fourth quarter valued at about $27,000. Arlington Partners LLC acquired a new stake in shares of Manulife Financial in the first quarter valued at about $29,000. Clearstead Advisors LLC lifted its stake in shares of Manulife Financial by 249.3% in the first quarter. Clearstead Advisors LLC now owns 1,638 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,169 shares in the last quarter. Northwest Capital Management Inc acquired a new position in Manulife Financial during the second quarter worth about $31,000. Finally, Ridgewood Investments LLC purchased a new stake in Manulife Financial during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 45.02% of the company’s stock. MFC has been the topic of several recent analyst reports.StockNews.cominitiated coverage on shares of Manulife Financial in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Barclays increased their target price on shares of Manulife Financial from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Stock Analysis on Manulife Financial Manulife Financial stockopened at $18.65 on Friday. The firm has a market cap of $33.89 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. Manulife Financial Co. has a 52-week low of $16.40 and a 52-week high of $20.40. The company’s 50 day moving average is $18.32 and its two-hundred day moving average is $18.83. Manulife Financial (NYSE:MFC–Get Free Report) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Manulife Financial had a net margin of 11.87% and a return on equity of 13.53%. The business had revenue of $9 billion for the quarter, compared to analyst estimates of $11.31 billion. On average, equities research analysts anticipate that Manulife Financial Co. will post 2.42 earnings per share for the current fiscal year. The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 23rd were issued a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.92%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, August 22nd. Manulife Financial’s dividend payout ratio (DPR) is presently 52.11%. (Free Report) Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. Want to see what other hedge funds are holding MFC?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC). |
2024-11-11 | ETF Daily News | Manulife Financial Co. (NYSE:MFC) Shares Purchased by Mitsubishi UFJ Trust & Banking Corp | Mitsubishi UFJ Trust & Banking Corp raised its position in Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,114,786 shares of the financial services provider’s stock after purchasing an additional 9,375 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Manulife Financial worth $21,075,000 as of its most recent filing with the Securities and Exchange Commission. Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Manulife Financial by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 65,706,458 shares of the financial services provider’s stock valued at $1,402,832,000 after acquiring an additional 2,032,695 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Manulife Financial by 1.6% during the second quarter. Mackenzie Financial Corp now owns 31,721,712 shares of the financial services provider’s stock valued at $599,526,000 after purchasing an additional 505,891 shares during the period. Bank of Nova Scotia raised its stake in shares of Manulife Financial by 5.5% during the second quarter. Bank of Nova Scotia now owns 26,424,327 shares of the financial services provider’s stock valued at $499,482,000 after purchasing an additional 1,373,221 shares in the last quarter. Norges Bank acquired a new stake in Manulife Financial in the fourth quarter worth about $406,195,000. Finally, CIBC Asset Management Inc grew its position in Manulife Financial by 30.8% in the 1st quarter. CIBC Asset Management Inc now owns 18,840,305 shares of the financial services provider’s stock valued at $345,383,000 after buying an additional 4,436,064 shares in the last quarter. Institutional investors own 45.02% of the company’s stock. Shares ofNYSE:MFCopened at $18.70 on Friday. The stock has a market capitalization of $33.89 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 0.77 and a beta of 1.08. Manulife Financial Co. has a 1-year low of $17.07 and a 1-year high of $20.40. The company has a 50 day moving average price of $18.34 and a 200 day moving average price of $18.79. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverManulife Financial (NYSE:MFC–Get Free Report) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $9 billion during the quarter, compared to analyst estimates of $11.31 billion. Manulife Financial had a return on equity of 15.07% and a net margin of 10.79%. On average, sell-side analysts expect that Manulife Financial Co. will post 2.42 EPS for the current fiscal year. The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Wednesday, November 22nd will be given a $0.263 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $1.05 dividend on an annualized basis and a dividend yield of 5.63%. Manulife Financial’s dividend payout ratio (DPR) is 55.50%. MFC has been the subject of a number of research analyst reports.StockNews.combegan coverage on shares of Manulife Financial in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Royal Bank of Canada upped their target price on Manulife Financial from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Barclays lifted their price target on Manulife Financial from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Read Our Latest Analysis on Manulife Financial (Free Report) Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. Want to see what other hedge funds are holding MFC?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC). |
2024-11-13 | The Times of India | 2024 elections coming, have a mix of equity & debt in portfolio: A Balasubramanian | ETMarkets.com A Balasubramanian , MD & CEO, Aditya Birla Sun Life AMC , says the asset allocation should be a mix of equity and debt. Basically, the multi-asset allocation fund could be a good choice given that it invests in all the three or four asset classes which includes equity, fixed income, gold and silver. Second, fixed income carry has been pretty good. The way I look at fixed income, you may not get a super-duper return but at the same time it gives you some kind of stability in the portfolio. So one asset class one can choose is the multi-asset allocation fund.” Where do you see disruption and scope for higher growth generation in the year to come? More than disruptions, financial services industry is the ultimate delivery to the end consumer. We have seen in the last few years that the lending platforms have been ensuring that the common man is able to get his loan processed in a quick time frame. I think this is one area where I would probably see continuous innovations coming on the financial services side. And UP has been planning to go very aggressive in meeting the borrowing requirement of people who would probably borrow less than Rs 2 lakh. Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website IIM Kozhikode IIMK Chief Product Officer Programme Visit IIM Lucknow IIML Chief Marketing Officer Programme Visit IIM Lucknow IIML Chief Executive Officer Programme Visit They already think about rolling out a platform this year that could also bring in some kind of a revolution. So, when that comes naturally it could have some impact on some of those tech driven platforms from a disruption point of view though it is difficult to say that there is a belief that even disruptors can also get disrupted by way of new innovations. But those are some of the things of course we will have to just see how it shapes up. Just to the point that you were earlier making, that asset allocation is going to be very very important. What the pie for the next one year should look like given the big and perhaps volatile event which is the general elections? The asset allocation should be a mix of equity and debt. Basically, the multi-asset allocation fund could be a good choice given that it invests in all the three or four asset classes which includes equity, fixed income, gold and silver. Second, fixed income carry has been pretty good. The way I look at fixed income, you may not get a super-duper return but at the same time it gives you some kind of stability in the portfolio. The carry itself, I mean carry is coupon, say you get a carry of 7.5%. That also comes in the form of a multi-asset allocation fund. So one asset class one can choose is the multi-asset allocation fund. Do you expect the SIP trend to continue or could there be some caution ahead of elections? I think SIP will continue. One should also keep in mind that while the gross volume in SIP has been rising, Rs 16,800 crore is the gross number. Naturally people are also coming in fresh and they will test the water by doing SIP for a short period. The amount of volatility is set since there is also high probability some of those people have come with the short term expectations may also cancel. You Might Also Like: Positive return, no return, low return or negative returns for equity this year? A Balasubramanian answers But the general cancellation rate is about 35 to 40%. The good news is that the top line number keeps rising. As long as the top line number keeps rising, which in my view will remain given the fact that most of the people now prefer to invest in SIP including HNIs and even the people who have deep pockets, prefer to invest through SIPs. Therefore, SIP investing will become the way of growth for the industry, I would presume. Everyone is saying there is a bubble, some are saying trouble, some are saying smallcap stocks are stretched. But then why are mutual funds accepting inflows? Whether it is Nippon, whether it is Birla, whether it is HDFC, all mutual funds are gladly accepting mutual funds. Everybody came on a Diwali show and said that smallcap stocks are expensive, do not buy them. So, then why are they accepting inflows? I think everyone wants to have exposure to small and midcaps and it comes with a five-year period timer. One of the things that we keep insisting on is that investing in smallcaps is not an issue, but you come with the time frame of five years. If you come to the largecaps, assuming a three-year period, then smaller midcaps have to be for a longer period. Therefore, the money that comes for a longer term, we cannot deny it. Second, we do not know whether the money is coming for short term or long term. Third, money managers manage the liquidity. Whenever they feel like the valuation is costly or maybe there will be other issues such as liquidity etc. or even finding a company in a smallcap space, there is a provision to invest up to 35% in the largecap as well. Therefore, profitable liquidity also in some sense gets created by means of portfolio construction strategies. But at the same time, there are fund houses which have said that it will take only the maximum ticket size, SIP only. If SIP is the only way of investing in the market, then it does not serve the purpose of stopping the flows. Historically, my view is we should not stop the flows. That way money managers will continue to do their jobs in terms of the portfolio constructions. At the same time, investors have to realise that they are investing in smallcaps and midcaps not by looking at the past return but doing a portfolio construction from investors point of view between largecaps, midcaps and smallcaps. He is also constructing a portfolio the way money managers construct the portfolio in the scheme that they manage for the investor. You Might Also Like: Sanjiv Bhasin on 5 stocks to bet on in Samvat 2080 Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Tuesday, 14 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition I-T Lens on Google, Amazon & Apple for likely ₹5kcr Demand The Income Tax (I-T) Department is investigating the Indian units of Apple, Google and Amazon over possible non-payment of tax. In connection with a probe that began in 2021, the authorities have sought detailed explanations from the tech behemoths on their transfer pricing (TP) practices, according to people aware of the matter. Indians End British Raj to Top Dubai Realty Buyers’ Mkt Indians have become the largest real estate investors in the Dubai property market, playing a pivotal role in shaping the city’s real estate market. Razorpay’s Reunion Plan with US Parent may Cut Deep Digital payments platform Razorpay plans to move its parent firm to India through a cross-country merger that may entail a tax payment of $250-300 million in the US, where it is currently domiciled, according to multiple people aware of discussions. Read More News on equity debt asset allocation sip a balasubramanian aditya birla sun life amc asset allocation mix expert view Stock Market et now (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-13 | The Times of India | Positive return, no return, low return or negative returns for equity this year? A Balasubramanian answers | ETMarkets.com A Balasubramanian , MD & CEO, Aditya Birla Sun Life AMC , says “this year investors should not just keep thinking that equity as an asset class will continue to give a huge amount of return; it will go through volatility and some of the volatility could come because my own experience has been that volatility of course comes in and when the reversal happens, it does not tell you when it comes. It just comes for some unknown reasons for which we do not know what those unknown reasons are.” What is the pledge for this year? How many hours will you be working? I continue to do the same. There is absolutely no replacement for the hard work that you have to do and each year is a new year and each year you have to do something different, in order to ensure that you continue to drive the goal that you have, which is basically building the business, building people and building the whole ecosystem. Whatever hard work one has to do, I think, in my view, has to be done. There is absolutely no replacement, no substitute for the hard work which anybody has to do. Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website Indian School of Business ISB Chief Digital Officer Visit Indian School of Business ISB Chief Technology Officer Visit IIM Lucknow IIML Chief Executive Officer Programme Visit What do investors need to do differently for Samvat 2080 ? Investors continue to keep focus on the long term. Given that the country as a whole will be marching towards $5 trillion economy and even beyond, India will continue to remain one of the fastest growing economies in the world and the world will look at India for the next 10 years as one of their most investment destinations – whether it is private equity or public equity or in any other means of participating in the infrastructure building and so on and so forth. World attention is going to be more on India to make it part of their global strategy and there is absolutely no reason why Indian investors should look at short-term volatility on which they base their investment decisions. Clearly the longer term seems to be pretty good. But this year, given that the last few months have been pretty good from the market point of view, there has been wider participation than we have seen. The breadth and the width in the market have been rising. Individual participants have been rising. Mutual funds have been getting a lot of money and in general, various sectors which are supposed to be the drivers of the economy, I generally call it the engineering and science phase. A lot of Indian companies have got a huge capability that in my view is now getting unleashed. You Might Also Like: We have to be positive on India and great returns will be made: Sunil Singhania In the automobile sector, there are many auto parts companies in the country. All of them are now coming in demand more from the point of view of the products becoming more relevant and their viability is also increasing. I would assume the overall bullishness will stay. But having seen a significant rise in the market and also seen the interest rates being where they are today, definitely asset allocation will play a role. That is why this year from investors’ point of view, do not just keep thinking that equity in asset class will continue to give a huge amount of return; it will go through volatility and some of the volatility could come because my own experience has been that volatility of course comes in and when the reversal happens, it does not tell you when it comes. It just comes for some unknown reasons for which we do not know what are those unknown reasons. Do you expect this year to be a year of positive return for equities or could be a year of no return, low return or negative returns? This year, we should probably see more of a flat kind of return, more than the negative return and probably one should also not be surprised if there is a marginal negative return given the fact that the market has still not seen any kind of corrections anywhere in the market. Therefore, one should not be surprised. My own belief is one should never measure the success of the equity market on a one-year basis. I think we have to extend this argument beyond a three-five year period. We are talking about how the next decade is going to be the techade and we have seen this digitisation theme really play out. Is it going to be the traditional IT players or a lot of these companies adopting AI, new-age tech, who will be the leaders? From the technology sector point of view, I would divide them into pure service providers versus the product and solution providers. Definitely companies which are in the space of solution providing, whether using artificial intelligence (AI) or machine learning (ML) or ChatGPT or even engineering space, have been developing products especially towards the automobile sector. There are many companies that are emerging. They may be called automobile companies. They may be technology companies within the auto space. Therefore, there are specialised companies within the sectors focussing on technology because technology is becoming the key for success everywhere and therefore that differentiation has to be done. You Might Also Like: Long-term wealth can only happen in ‘hold’ phase. So, be patient: Mihir Vora At the same time, if the interest rates drop next year in the US, then there is a correlation of interest rates coming down. There is a direct correlation to the IT sector spending. If that actually comes back, once again in the global market, given the fact that spending by most of the companies towards building technology capability including meeting various regulatory requirements, they will continue to remain. Therefore, we will have to just see. Initially, the more product driven and solution driven companies could drive the market and as time progresses, the companies on the service side also should benefit, given that valuations are cheap. Second, in the last three years, they have given mediocre returns and balance sheets are strong and the buybacks can be used and deep cash that they have in the books could be used for creating value for the shareholders. These are some of the moving parts also we have to keep in mind while taking a very strong view on the sector. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Tuesday, 14 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition I-T Lens on Google, Amazon & Apple for likely ₹5kcr Demand The Income Tax (I-T) Department is investigating the Indian units of Apple, Google and Amazon over possible non-payment of tax. In connection with a probe that began in 2021, the authorities have sought detailed explanations from the tech behemoths on their transfer pricing (TP) practices, according to people aware of the matter. Indians End British Raj to Top Dubai Realty Buyers’ Mkt Indians have become the largest real estate investors in the Dubai property market, playing a pivotal role in shaping the city’s real estate market. Razorpay’s Reunion Plan with US Parent may Cut Deep Digital payments platform Razorpay plans to move its parent firm to India through a cross-country merger that may entail a tax payment of $250-300 million in the US, where it is currently domiciled, according to multiple people aware of discussions. Read More News on Asset Allocation a balasubramanian aditya birla sun life amc FII selling return for equities A Bala Samvat 2080 expert view Stock Market et now (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-13 | ETF Daily News | Manulife Financial Co. (NYSE:MFC) Shares Sold by Canada Pension Plan Investment Board | Canada Pension Plan Investment Board decreased its holdings in shares of Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC) by 42.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,328,250 shares of the financial services provider’s stock after selling 4,000,000 shares during the period. Canada Pension Plan Investment Board owned approximately 0.29% of Manulife Financial worth $100,827,000 at the end of the most recent quarter. Several other hedge funds have also recently modified their holdings of the stock. Westpac Banking Corp purchased a new position in shares of Manulife Financial in the first quarter worth $4,447,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Manulife Financial by 6.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,843,418 shares of the financial services provider’s stock worth $107,163,000 after acquiring an additional 343,132 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Manulife Financial by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,064,422 shares of the financial services provider’s stock worth $111,340,000 after acquiring an additional 243,880 shares during the period. Larson Financial Group LLC grew its stake in Manulife Financial by 1.4% during the 1st quarter. Larson Financial Group LLC now owns 74,342 shares of the financial services provider’s stock valued at $1,365,000 after purchasing an additional 1,011 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of Manulife Financial by 8.7% in the first quarter. Brown Advisory Inc. now owns 13,843 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 1,112 shares during the period. Institutional investors and hedge funds own 45.02% of the company’s stock. Shares ofNYSE MFCopened at $18.70 on Monday. The company has a market capitalization of $33.89 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 0.77 and a beta of 1.08. The company’s fifty day moving average price is $18.34 and its 200 day moving average price is $18.78. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $20.40. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.263 per share. This represents a $1.05 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date of this dividend is Tuesday, November 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 52.50%. Several equities analysts recently weighed in on the stock.StockNews.cominitiated coverage on shares of Manulife Financial in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Royal Bank of Canada increased their price objective on shares of Manulife Financial from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Barclays boosted their target price on shares of Manulife Financial from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Read Our Latest Stock Analysis on Manulife Financial (Free Report) Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. Want to see what other hedge funds are holding MFC?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC). |
2024-11-13 | ETF Daily News | Canada Pension Plan Investment Board Cuts Position in Sun Life Financial Inc. (NYSE:SLF) | Canada Pension Plan Investment Board reduced its holdings in shares of Sun Life Financial Inc. (NYSE:SLF–Free Report) (TSE:SLF) by 47.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,749,845 shares of the financial services provider’s stock after selling 1,550,000 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.30% of Sun Life Financial worth $91,324,000 as of its most recent SEC filing. Other hedge funds and other institutional investors have also bought and sold shares of the company. Salem Investment Counselors Inc. purchased a new position in shares of Sun Life Financial in the 2nd quarter worth about $25,000. Money Concepts Capital Corp bought a new stake in Sun Life Financial in the fourth quarter worth about $26,000. Spire Wealth Management bought a new position in shares of Sun Life Financial during the 1st quarter valued at approximately $27,000. IFP Advisors Inc grew its position in shares of Sun Life Financial by 166.9% during the 2nd quarter. IFP Advisors Inc now owns 678 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 424 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Sun Life Financial during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 44.96% of the company’s stock. Several equities analysts have weighed in on the company. Credit Suisse Group reduced their price objective on Sun Life Financial from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 10th.StockNews.comstarted coverage on shares of Sun Life Financial in a research report on Thursday, October 5th. They set a “hold” rating for the company. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRead Our Latest Research Report on SLF NYSE:SLFopened at $47.64 on Monday. The business’s fifty day moving average is $48.13 and its 200 day moving average is $49.39. The firm has a market cap of $27.84 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.29 and a beta of 1.01. Sun Life Financial Inc. has a 52-week low of $43.53 and a 52-week high of $53.21. (Free Report) Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products. |
2024-11-13 | ETF Daily News | TD Asset Management Inc Sells 490,674 Shares of Manulife Financial Co. (NYSE:MFC) | TD Asset Management Inc decreased its stake in shares of Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,807,608 shares of the financial services provider’s stock after selling 490,674 shares during the quarter. Manulife Financial makes up 0.7% of TD Asset Management Inc’s portfolio, making the stock its 29th largest position. TD Asset Management Inc owned 1.68% of Manulife Financial worth $582,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC). A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MFC. Norges Bank bought a new stake in Manulife Financial during the 4th quarter valued at about $406,195,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Manulife Financial by 992.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,430,000 shares of the financial services provider’s stock valued at $136,330,000 after purchasing an additional 6,750,000 shares during the period. CIBC Asset Management Inc increased its position in Manulife Financial by 30.8% during the 1st quarter. CIBC Asset Management Inc now owns 18,840,305 shares of the financial services provider’s stock valued at $345,383,000 after purchasing an additional 4,436,064 shares during the period. Public Sector Pension Investment Board increased its position in Manulife Financial by 569.3% during the 1st quarter. Public Sector Pension Investment Board now owns 3,254,740 shares of the financial services provider’s stock valued at $59,643,000 after purchasing an additional 2,768,434 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Manulife Financial during the 1st quarter valued at about $52,082,000. Institutional investors own 45.02% of the company’s stock. A number of research firms have commented on MFC. Barclays raised their target price on shares of Manulife Financial from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 11th.StockNews.cominitiated coverage on shares of Manulife Financial in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada lifted their price objective on shares of Manulife Financial from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRead Our Latest Analysis on Manulife Financial NYSE:MFCtraded down $0.01 during trading hours on Monday, hitting $18.69. 122,162 shares of the company were exchanged, compared to its average volume of 3,201,633. The stock has a market capitalization of $33.87 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 0.77 and a beta of 1.08. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $20.40. The company’s 50 day moving average price is $18.34 and its 200-day moving average price is $18.78. The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Wednesday, November 22nd will be given a dividend of $0.263 per share. This represents a $1.05 annualized dividend and a yield of 5.63%. The ex-dividend date of this dividend is Tuesday, November 21st. Manulife Financial’s dividend payout ratio is presently 52.50%. (Free Report) Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. Want to see what other hedge funds are holding MFC?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC). |
2024-11-14 | ETF Daily News | Swiss National Bank Has $131.74 Million Stake in Manulife Financial Co. (NYSE:MFC) | Swiss National Bank cut its holdings in shares of Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,962,000 shares of the financial services provider’s stock after selling 603,200 shares during the quarter. Swiss National Bank’s holdings in Manulife Financial were worth $131,738,000 as of its most recent SEC filing. A number of other large investors have also added to or reduced their stakes in MFC. Sanctuary Wealth Management L.L.C. bought a new position in Manulife Financial during the second quarter worth $28,000. Clearstead Advisors LLC lifted its stake in shares of Manulife Financial by 249.3% during the 1st quarter. Clearstead Advisors LLC now owns 1,638 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,169 shares during the last quarter. Northwest Capital Management Inc bought a new stake in shares of Manulife Financial during the 2nd quarter worth about $31,000. Massmutual Trust Co. FSB ADV grew its stake in Manulife Financial by 79.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,051 shares of the financial services provider’s stock valued at $39,000 after buying an additional 906 shares during the last quarter. Finally, Aspire Private Capital LLC bought a new position in Manulife Financial in the 1st quarter valued at about $38,996,640,000. Institutional investors own 45.02% of the company’s stock. Shares ofNYSE:MFCopened at $18.63 on Tuesday. The business’s 50 day simple moving average is $18.34 and its 200 day simple moving average is $18.78. Manulife Financial Co. has a 1 year low of $17.07 and a 1 year high of $20.40. The company has a market capitalization of $33.76 billion, a P/E ratio of 9.32, a P/E/G ratio of 0.77 and a beta of 1.08. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe business also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.263 per share. This represents a $1.05 annualized dividend and a dividend yield of 5.65%. The ex-dividend date of this dividend is Tuesday, November 21st. Manulife Financial’s dividend payout ratio (DPR) is currently 55.50%. Several equities analysts have recently commented on the company. Royal Bank of Canada upped their target price on Manulife Financial from $30.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday.StockNews.cominitiated coverage on Manulife Financial in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Barclays lifted their target price on Manulife Financial from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. View Our Latest Analysis on Manulife Financial (Free Report) Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. Want to see what other hedge funds are holding MFC?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC). |
2024-11-16 | GlobeNewswire | CFA Society Toronto Announces Election of 2023-2024 Board Members | Toronto, Nov. 16, 2023 (GLOBE NEWSWIRE) -- CFA Society Toronto is pleased to announce that Brian Madden, CFA, has been appointed the Chair of the Society’s Board of Directors following the November 15, 2023, Annual General Meeting.The Board of Directorsserves a critical leadership role for the Society by providing strategic direction to carry out itsmission and visionby delivering value to Society members in a rapidly changing investment environment and promoting high ethical standards for the enhancement of the investment profession. “It is a great honour and privilege for me to serve as Chair of CFA Society Toronto’s Board of Directors. I look forward to developing our new three-year strategic plan in collaboration with my fellow board members in the coming year. Our Society, supported by our tireless volunteer community and staff members, is sharper, stronger, and more focused than ever on promoting the value of the CFA designation across stakeholder communities, promoting high standards of professional ethics and competence, delivering impactful content and continuing education to our members and fostering an inclusive, engaged community of investment, finance and business professionals.” Brian Madden, CFA. The Society would also like to express our gratitude to departing board members, Brenda King, CFA and Aaron Vale, CFA. We thank them for their support while serving on CFA Society Toronto’s Board of Directors. We would also like to welcome four new members to our 2023-2024 Board of Directors: Sebastian Becerra, CFASebastian Becerra is the Managing Director and Deputy Head of Global Transaction Banking at RBC Capital Markets. He leads client coverage for the Americas, Australia, and New Zealand as well as the Product Strategy and Data and Automation teams. Sebastian is a client-centric business development professional skilled at combining industry, product, and regulatory knowledge to provide clients with tailored advice, insights, and solutions. He has a deep understanding of international and domestic payments, the securities industry, and trade finance. Sebastian holds a Bachelor of Industrial Engineering (honors), a master’s in software engineering, an MBA from McGill University, and is a CFA charterholder Audrey Gan, CFAAudrey is a Senior Vice President at BNY Mellon with over 30 years’ experience in the Financial Services Industry of which 20 years in Investment System Conversion and Integration in North America, United Kingdom, Europe, and Asia. Prior to joining BNY Mellon, Audrey was a Principal at Barclays Global Investors (Now Blackrock) managing national and global technology projects. Previously she was with AEGON Capital Management managing day-to-day operations with overall responsibility for the technology strategy for the investment division. Audrey has also held senior positions at prestigious financial services firms such as PricewaterhouseCoopers and TD Asset Management. Audrey currently serves as the Vice Chair of the External Relations Committee. Audrey has been a CFA Charter holder since 1998 and completed her MBA in Finance and BBA in Marketing from Schulich School of Business in Toronto, Ontario Jennifer Rush, CFAJenifer Rush, CFA In her role as Head of Responsible Investing and Manager Research, Jenifer is responsible for enhancing SLGI’s multi- manager capabilities and accelerating the focus on responsible investing. Jenifer joined SLGI in February of 2022 to work as part of the Multi Asset Solutions team. Prior to joining Sun Life Global Investments in 2022, Jenifer was AVP, Head of Global Manager Research, in Canada, at a leading wealth management firm. Jenifer played a key role in augmenting the focus on ESG for Managers on the platform in her previous role. She brings with her over 25 years of industry experience across manager research and portfolio management. Jenifer holds an MBA from Queen’s University as well as the CFA and CAIA designations. Jenifer is actively involved in the Toronto CFA Society. Jenifer is also a Board Member of the North York Women’s Centre. Minal Upadhyaya, LLBMinal Upadhyaya, LLB Minal is Head of Legal for Capital Group Canada, where she oversees the legal and compliance functions for Capital Group’s Canadian business. She has been in the financial services business for more than 20 years, providing business practical legal advice to investment management firms, including for the Canadian wealth and asset management businesses of TD Bank Group. Immediately prior to joining Capital Group Canada, Minal was the General Counsel and Privacy Officer for Halton Healthcare Service About CFA Society TorontoFounded in 1936, CFA Society Toronto is part of the worldwide network of CFA Institute member societies that lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. CFA Society Toronto represents the interests of more than 11,000 investment professionals in the Greater Toronto Area through advocacy, education, events, and professional development. For more information visithttp://www.cfatoronto.caor follow us on Twitter @cfatoronto and on LinkedIn CFA Society Toronto. Chartered Financial Analyst® and CFA® are registered trademarks owned by CFA Institute. -30- |
2024-11-16 | ETF Daily News | Fiera Capital Corp Grows Stock Position in Manulife Financial Co. (NYSE:MFC) | Fiera Capital Corp boosted its position in Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC) by 5.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,845 shares of the financial services provider’s stock after buying an additional 2,104 shares during the quarter. Fiera Capital Corp’s holdings in Manulife Financial were worth $773,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Other large investors have also bought and sold shares of the company. Sanctuary Wealth Management L.L.C. purchased a new stake in Manulife Financial in the fourth quarter worth $27,000. Clearstead Advisors LLC grew its position in shares of Manulife Financial by 249.3% in the first quarter. Clearstead Advisors LLC now owns 1,638 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,169 shares in the last quarter. Northwest Capital Management Inc purchased a new position in shares of Manulife Financial in the second quarter valued at $31,000. ING Groep NV purchased a new position in shares of Manulife Financial in the first quarter valued at $39,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Manulife Financial by 79.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,051 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 906 shares in the last quarter. 45.02% of the stock is owned by hedge funds and other institutional investors. Several brokerages have recently weighed in on MFC. Royal Bank of Canada lifted their price target on Manulife Financial from $30.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday, November 10th. Barclays lifted their price target on Manulife Financial from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Finally,StockNews.combegan coverage on Manulife Financial in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Analysis on Manulife Financial NYSE:MFCopened at $18.99 on Thursday. The firm has a market capitalization of $34.41 billion, a price-to-earnings ratio of 9.49, a P/E/G ratio of 0.76 and a beta of 1.08. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $20.40. The stock has a fifty day moving average of $18.36 and a 200 day moving average of $18.77. The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Wednesday, November 22nd will be paid a dividend of $0.263 per share. This represents a $1.05 annualized dividend and a yield of 5.54%. The ex-dividend date is Tuesday, November 21st. Manulife Financial’s dividend payout ratio is 55.50%. (Free Report) Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. Want to see what other hedge funds are holding MFC?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC). |
2024-11-16 | ETF Daily News | Manulife Financial Co. (TSE:MFC) Senior Officer Steve Finch Sells 10,295 Shares | Manulife Financial Co. (TSE:MFC–Get Free Report) (NYSE:MFC) Senior Officer Steve Finch sold 10,295 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of C$25.97, for a total value of C$267,335.41. TSE MFCopened at C$25.97 on Thursday. Manulife Financial Co. has a 12-month low of C$23.02 and a 12-month high of C$27.50. The company has a fifty day simple moving average of C$25.07 and a two-hundred day simple moving average of C$25.31. The company has a current ratio of 123.80, a quick ratio of 2.58 and a debt-to-equity ratio of 56.70. The stock has a market cap of C$47.27 billion, a P/E ratio of 3.70, a P/E/G ratio of 11.85 and a beta of 1.10. The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Wednesday, November 22nd will be given a dividend of $0.365 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.46 dividend on an annualized basis and a yield of 5.62%. Manulife Financial’s dividend payout ratio is currently 20.83%. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverA number of equities analysts recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Manulife Financial from C$30.00 to C$32.00 and gave the stock a “sector perform” rating in a research note on Friday, November 10th. Barclays lifted their target price on Manulife Financial from C$31.00 to C$33.00 in a research report on Friday, August 11th. CIBC raised their price target on shares of Manulife Financial from C$27.00 to C$28.00 in a research note on Friday, August 11th. TD Securities raised their price target on Manulife Financial from C$32.00 to C$33.00 and gave the company an “action list buy” rating in a research note on Thursday, November 9th. Finally, Cormark raised their price objective on Manulife Financial from C$28.00 to C$29.00 in a research report on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$29.67. Get Our Latest Research Report on MFC (Get Free Report) Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. |
2024-11-17 | The Times of India | Current market does not offer similar payoff for traders and investors: Krishna Sanghavi | ETMarkets.com Krishna Sanghavi , CIO-Equities, Mahindra Manulife MF , says “there is the prevalence of too many people focusing on the shorter end of the curve in terms of leverage positions on trading, maybe investment with a very quick short-term view. Those two combinations make some of this volatility part and parcel of what we see daily. It does not really change the fundamental picture of India doing well and creating wealth for investors. It creates its own high churn or high quick returns or a quick loss kind of scenario for traders. If you are a trader versus if you are an investor, the current market does not really offer a similar payoff for both sides. ” There was a furious rally and markey was almost at 19,800. Was the market getting the rallies justified because there was a genuine change in narrative on rates front globally and people are deriving that probably by mid year, rates in India would start heading lower while earnings are not too bad already? Yes, I agree, very broadly. Markets are moving too fast. At the same time, if we just step back and look at the last two months, we were actually back at where we were two months back and that is not only true for India, it is true globally also. There are two variables. One variable is that quite a bit of high-frequency economic data keeps on changing, keeps on coming every day which is the normal path. The second part is slightly more worrisome, not only in India but worldwide. Maybe it is the prevalence of too many people focusing on the shorter end of the curve in terms of leverage positions on trading, maybe investment with a very quick short-term view. Those two combinations make some of this volatility part and parcel of what we see daily. It does not really change the fundamental picture of India doing well and creating wealth for investors. However, it creates its own high churn or high quick returns or a quick loss kind of scenario for traders and that is what people may just need to be aware of, that if you are a trader versus if you are an investor, the current market does not really offer a similar payoff for both sides. Unlock Leadership Excellence with a Range of CXO Courses Offering College Course Website IIM Lucknow IIML Chief Executive Officer Programme Visit IIM Kozhikode IIMK Chief Product Officer Programme Visit IIM Lucknow IIML Chief Operations Officer Programme Visit I must congratulate you on the great performance of your smallcap fund. Do you think the correction in the smallcaps and midcaps is over now and at least the ones which are backed by earnings will have a good run from here on? I agree. We had a nice launch, exactly 11 months back. Our smallcap fund sometime in December 2022 started investing. The fund has done pretty well right now. I guess it is always going to be a stock specific market because for every segment of the economy, some set of corporate, some set of companies or sectors are beneficiaries. The other sets of people are sufferers because when you say value creation, that keeps on shifting between consumers and users. For example, if banks are resource owners, the corporate are the resource borrowers and to an extent, high interest rates favour the banks while it disfavours the corporates who borrowed. So that economic part does play out and that is where we believe there is value across the spectrum on sectors, on stocks whether it is largecap, midcap, smallcap. That is one way to look at it but at the same time, even sector wise there are pockets of opportunities which one can invest in, in the markets right now also. You Might Also Like: Expect it to be business as usual in India and life will go on with Modi in charge: Mark Mobius There is a power renewable, green renewable NBFC IPO which is getting launched. You were also positive on power space for some time now. How are you analysing the valuations of power lenders to start with and then the generation companies be it renewable or even legacy? The macro opportunity for power is so strong that India is right now more or less balanced on what power we need currently versus what power we can produce as a country, maybe a 5% to 10% deviation in demand can actually alter the problem for India. So, we need to create capacity and that is where in the macro picture lies that if India is going to grow, we need more power consumption and that power capacity needs to be created now. The process needs to start now so that three and four years down the line, we will actually have enough capacity. You split further, a thermal takes maybe four -five years to set up while renewables like solar, wind possibly takes a shorter time of 12 to 18 months period and that is what lies opportunity in the absolute next three, four, five-year period, you need to create capacity across the spectrum, renewables as well as thermal. Coming to power finance, that as a segment has a tremendous opportunity because the sheer amount of capital required in the generation as well as in the transmission and distribution is going to create an opportunity for our companies to lend. The way we look at valuation right now is also partly a function of the capital adequacy. So, if there are companies operating on a 22-23% adequacy on capital and generating 20% plus ROEs, they are in a pretty good shape to take part in this entire power sector lending opportunities and participate there on. Today, we are discussing a situation where there are not too many issues about troubled assets or asset quality pains also. In a way, it is a low credit cost, high credit growth environment which works very much in favour if you have the right amount of capital which is what some of these power finance companies have. You Might Also Like: What is the best way to play the consumption theme? Vinit Sambre answers In the last few years, the runup for lenders, especially banks has been very good. Do you see that mid next year onward if indeed rate cuts start in India? Can NBFCs have a good time going forward because they tend to benefit in a receding rate trajectory? To an extent, yes, because they are slightly more wholesale borrowers of money rather than retail in the sense that banks have far more reliance on CASA. So, it can be true but at the same time have a situation where in a falling rate atmosphere maybe your NIMs are bound to compress because if you look at some of these NBFCs, they really had a good time when rates were going up. It is going to be tricky unless the asset liability mismatch of NBFC specific can be analysed differently. We will always have a stock specific answer. But on a macro basis, yes, some benefit can happen to a wholesale borrower of money when the rate environment goes down. But at the same time, we need to worry about liquidity, just because there are going to be rate cuts, we may not really have a liquidity environment as favourable as what possibly it was two years back. That is an area which is a little bit uncertain right now. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Monday, 20 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Sahara-Sebi Refund Account may be Transferred to Govt The government is looking into the legality of transferring unclaimed funds of the Sahara-Sebi Refund Account to the Consolidated Fund of India, with a provision to refund investors who stake claims later. Apple Looks to Hit ₹1 L cr Production Milestone in FY24 Apple is targeting production of nearly ₹1 lakh crore worth of iPhones in India this fiscal ending March 2024, having ramped up capacity at its manufacturing partners and achieved over ₹60,000-crore production in the first seven months, officials aware of the matter said. Singhania Settlement: Nawaz Modi sets Terms Nawaz Modi, the estranged wife of Gautam Singhania, has sought three quarters of the industrialist’s net worth, reported at $1.4 billion, for their two daughters and herself, as part of a family settlement following the couple’s separation, said people in the know. Read More News on Traders | Investors krishna sanghavi mahindra manulife mf market approach midcaps expert view Stock Market et now (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-18 | ETF Daily News | Moors & Cabot Inc. Boosts Stake in Manulife Financial Co. (NYSE:MFC) | Moors & Cabot Inc. grew its stake in shares of Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,972 shares of the financial services provider’s stock after buying an additional 692 shares during the period. Moors & Cabot Inc.’s holdings in Manulife Financial were worth $850,000 at the end of the most recent reporting period. A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Manulife Financial by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 65,706,458 shares of the financial services provider’s stock worth $1,402,832,000 after purchasing an additional 2,032,695 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Manulife Financial by 1.6% in the 2nd quarter. Mackenzie Financial Corp now owns 31,721,712 shares of the financial services provider’s stock valued at $599,526,000 after purchasing an additional 505,891 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Manulife Financial by 5.5% during the 2nd quarter. Bank of Nova Scotia now owns 26,424,327 shares of the financial services provider’s stock worth $499,482,000 after purchasing an additional 1,373,221 shares during the last quarter. Norges Bank purchased a new stake in shares of Manulife Financial during the fourth quarter worth about $406,195,000. Finally, CIBC Asset Management Inc raised its position in shares of Manulife Financial by 30.8% in the first quarter. CIBC Asset Management Inc now owns 18,840,305 shares of the financial services provider’s stock valued at $345,383,000 after buying an additional 4,436,064 shares during the last quarter. 45.02% of the stock is owned by institutional investors and hedge funds. MFC has been the topic of a number of analyst reports. TheStreet lowered shares of Manulife Financial from a “b” rating to a “c+” rating in a research report on Thursday. Barclays raised their price objective on Manulife Financial from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Royal Bank of Canada upped their target price on Manulife Financial from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, November 10th. Finally,StockNews.combegan coverage on Manulife Financial in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.43. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRead Our Latest Report on MFC MFC stockopened at $19.18 on Friday. The company has a market cap of $34.76 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 0.77 and a beta of 1.08. The business has a fifty day simple moving average of $18.38 and a 200-day simple moving average of $18.77. Manulife Financial Co. has a 52 week low of $17.07 and a 52 week high of $20.40. The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.263 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.05 annualized dividend and a yield of 5.48%. Manulife Financial’s dividend payout ratio is presently 55.50%. (Free Report) Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. Want to see what other hedge funds are holding MFC?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC). |
2024-11-19 | ETF Daily News | Manulife Financial Co. (NYSE:MFC) Shares Sold by Heathbridge Capital Management Ltd. | Heathbridge Capital Management Ltd. lowered its position in shares of Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC) by 32.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 749,900 shares of the financial services provider’s stock after selling 362,700 shares during the quarter. Manulife Financial accounts for about 6.2% of Heathbridge Capital Management Ltd.’s investment portfolio, making the stock its 7th biggest holding. Heathbridge Capital Management Ltd.’s holdings in Manulife Financial were worth $14,182,000 at the end of the most recent reporting period. Several other institutional investors and hedge funds also recently made changes to their positions in MFC. BlackRock Inc. boosted its holdings in Manulife Financial by 10.1% during the first quarter. BlackRock Inc. now owns 878,359 shares of the financial services provider’s stock worth $18,753,000 after purchasing an additional 80,450 shares during the last quarter. Raymond James Trust N.A. lifted its position in shares of Manulife Financial by 7.9% in the first quarter. Raymond James Trust N.A. now owns 27,503 shares of the financial services provider’s stock valued at $587,000 after buying an additional 2,013 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Manulife Financial during the 1st quarter valued at $428,000. Moors & Cabot Inc. lifted its stake in shares of Manulife Financial by 2.3% during the 1st quarter. Moors & Cabot Inc. now owns 43,078 shares of the financial services provider’s stock worth $920,000 after buying an additional 956 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Manulife Financial by 32.7% in the first quarter. Sequoia Financial Advisors LLC now owns 14,560 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 3,585 shares in the last quarter. Institutional investors and hedge funds own 45.02% of the company’s stock. NYSE MFCtraded up $0.37 during trading on Friday, hitting $19.18. 2,239,814 shares of the company’s stock were exchanged, compared to its average volume of 3,116,383. The company has a market cap of $34.76 billion, a PE ratio of 9.59, a P/E/G ratio of 0.77 and a beta of 1.08. Manulife Financial Co. has a fifty-two week low of $17.07 and a fifty-two week high of $20.40. The stock’s 50 day moving average price is $18.38 and its two-hundred day moving average price is $18.76. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe company also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Wednesday, November 22nd will be issued a $0.263 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $1.05 dividend on an annualized basis and a yield of 5.48%. Manulife Financial’s payout ratio is presently 52.50%. A number of equities research analysts recently issued reports on MFC shares. TheStreet downgraded Manulife Financial from a “b” rating to a “c+” rating in a research report on Thursday. Barclays increased their target price on Manulife Financial from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Royal Bank of Canada boosted their price target on Manulife Financial from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, November 10th. Finally,StockNews.cominitiated coverage on Manulife Financial in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.43. Get Our Latest Stock Report on Manulife Financial (Free Report) Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. Want to see what other hedge funds are holding MFC?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC–Free Report) (TSE:MFC). |
2024-11-21 | The Times of India | Gandhar Oil Refinery mobilises Rs 150 cr from anchor investors | ETMarkets.com INSIGHTS
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NSE BSE Nuvama Wealth Management Ltd. PEER COMPANIES Explore Now Gandhar Oil Refinery (India) Ltd on Tuesday said it has raised a little over Rs 150 crore from anchor investors a day before its initial share-sale offering. The company has allotted 88.88 lakh equity shares to 16 funds at Rs 169 per piece, according to a circular uploaded on the BSE's website. At this price, the firm raised Rs 150.20 crore. Among the investors that participated in the anchor book include Morgan Stanley Asia (Singapore) Pte, Copthall Mauritius Investment Ltd, Societe Generale, SBI General Insurance Company, Aditya Birla Sun Life Insurance Company, ICICI Prudential Mutual Fund (MF), HDFC MF, and WhiteOak MF. The IPO comprises a fresh issue of equity shares worth Rs 302 crore and an Offer for Sale (OFS) of 1.17 crore shares by promoters and existing shareholders. Those offering shares in the OFS include promoters -- Ramesh Babulal Parekh, Kailash Parekh, and Gulab Parekh -- and other shareholders, Fleet Line Shipping Services LLC, Denver Bldg Mat & Decor TR LLC, and Green Desert Real Estate Brokers. The maiden public issue, with a price band of Rs 160-169 per share, will open for subscription on November 22 and end on November 24. The company will fetch up to Rs 500.69 crore at the upper end of the price band. Proceeds from the fresh issue component will be used for payment of debt and for the purchase of equipment and civil work required for expansion in the capacity of automotive oil at the Silvassa plant. In addition, the funds will be utilised for expansion in capacity of petroleum jelly and accompanying cosmetic product division at the company's Taloja plant as well as expansion in capacity of white oils by installing blending tanks at the plant and funding working capital requirements. Gandhar Oil Refinery is a leading manufacturer of white oils with a growing focus on the consumer and healthcare end industries. Nuvama Wealth Management (formerly known as Edelweiss Securities) and ICICI Securities are the book-running lead managers to the IPO. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Tuesday, 21 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Strictures Leave IPO Financing at a Dead End The initial public offering (IPO) market is red hot, with five issues worth ₹7,400 crore opening for subscription this week, but enthusiasm is muted among finance companies that have historically lent to bidders in such share sales. All in a Weekend: Altman Gets MS Office, OpenAI a New Boss OpenAI co founder Sam Altman is joining Microsoft as the head of a new AI research group while ex-Twitch boss Emmett Shear is set to take over as the interim CEO of the ChatGPT maker, in a surprise turn of events for the startup at the heart of an artificial intelligence boom. CVs Set for Heavy-Duty FY24 Sales Sales of commercial vehicles, a barometer of economic activity, are expected to hit an all-time high in FY24, fetching record revenue for companies such as Tata Motors, Ashok Leyland and VE Commercial Vehicles. Read More News on gandhar oil refinery tata technologies indian renewable energy development agency initial public offering ipo nuvama wealth management (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-21 | ETF Daily News | Manulife Financial (NYSE:MFC) Sees Strong Trading Volume | Manulife Financial Co. (NYSE:MFC–Get Free Report) (TSE:MFC) shares saw strong trading volume on Tuesday . 8,181,259 shares changed hands during trading, an increase of 154% from the previous session’s volume of 3,224,673 shares.The stock last traded at $19.07 and had previously closed at $19.29. A number of equities analysts have issued reports on MFC shares. Barclays upped their target price on Manulife Financial from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. TheStreet lowered shares of Manulife Financial from a “b” rating to a “c+” rating in a report on Thursday.StockNews.cominitiated coverage on Manulife Financial in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada increased their target price on shares of Manulife Financial from $30.00 to $32.00 and gave the stock a “sector perform” rating in a report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.43. Check Out Our Latest Stock Report on MFC Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe firm has a market cap of $34.56 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 0.77 and a beta of 1.08. The firm’s 50-day moving average price is $18.39 and its 200 day moving average price is $18.76. The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.263 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.05 dividend on an annualized basis and a dividend yield of 5.52%. Manulife Financial’s dividend payout ratio (DPR) is presently 52.50%. A number of institutional investors have recently added to or reduced their stakes in MFC. Vanguard Group Inc. grew its position in Manulife Financial by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 65,706,458 shares of the financial services provider’s stock valued at $1,402,832,000 after buying an additional 2,032,695 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Manulife Financial by 1.6% during the second quarter. Mackenzie Financial Corp now owns 31,721,712 shares of the financial services provider’s stock valued at $599,526,000 after acquiring an additional 505,891 shares during the period. Bank of Nova Scotia raised its holdings in Manulife Financial by 5.5% during the second quarter. Bank of Nova Scotia now owns 26,424,327 shares of the financial services provider’s stock worth $499,482,000 after purchasing an additional 1,373,221 shares in the last quarter. Beutel Goodman & Co Ltd. lifted its position in Manulife Financial by 0.5% in the second quarter. Beutel Goodman & Co Ltd. now owns 24,637,206 shares of the financial services provider’s stock worth $466,212,000 after purchasing an additional 120,055 shares during the period. Finally, Norges Bank bought a new position in Manulife Financial during the 4th quarter valued at $406,195,000. Institutional investors and hedge funds own 45.02% of the company’s stock. (Get Free Report) Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks. |
2024-11-21 | The Times of India | Flair Writing garners Rs 178 crore from anchor investors | ANI INSIGHTS
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NSE BSE Winro Commercial (India) Ltd. PEER COMPANIES Explore Now New Delhi: Ahead of its initial public offering, pen maker Flair Writing Industries Ltd, on Tuesday, said it has mopped up Rs 178 crore from anchor investors. The company has allocated 58.52 lakh equity shares to 23 funds at Rs 304 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website. Those that participated in the anchor book include -- SBI Mutual Fund (MF), Aditya Birla Sun Life MF, Tata MF, ICICI Prudential Life Insurance Company , SBI Life Insurance Company , Troo Capital and Winro Commercial (India) Ltd. Flair Writing's IPO comprises a fresh issue of equity shares aggregating up to Rs 292 crore and an offer-for-sale (OFS) of equity shares worth up to Rs 301 crore by promoters and promoter group entities. At present, promoters and promoter group entities own 100 per cent stake in the company. The issue, with a price band of Rs 288-304 a share, will be open for subscription during November 22-24. Proceeds of the fresh issue will be used for setting up a manufacturing facility for writing instruments at Valsad district in Gujarat; funding the company's capital expenditure and subsidiary Flair Writing Equipments Pvt Ltd (FWEPL). Besides, the proceeds will be used to support the working capital requirements of the company and subsidiaries FWEPL and Flair Cyrosil Industries. Also, the money will be used for payment of the loan and general corporate purposes. The company, which owns the over 45-year-old flagship brand 'Flair', is among the top three players in the overall writing instruments industry with a market share of about nine per cent as of March 2023. It manufactures and distributes writing instruments, including pens, stationery products, and calculators, and has also diversified into manufacturing houseware products and steel bottles. Nuvama Wealth Management Ltd (formerly known as Edelweiss Securities Ltd) and Axis Capital Ltd are the book-running lead managers to the IPO. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Wednesday, 22 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition I-T Finds ₹10kcr Evasion by Social Media Sellers The income tax department is said to have detected tax evasion of nearly ₹10,000 crore over a three-year period by etailers selling goods via social media platforms such as Instagram and Facebook. The department has sent intimation notices to 45 such pan-India brands with more to follow. Cos Take Ten on M&As, Do Their GST Sums First With over 20,000 notices issued by the goods & services tax (GST) department since 2022, India Inc is now going back to the drawing board to account for tax liabilities before inking deals and finalizing other business transactions. Gautam Singhania Kicked, Punched Me: Nawaz Modi Raymond managing director Gautam Singhania’s estranged wife Nawaz Modi has alleged that the industrialist assaulted her and one of their daughters two months ago in a fit of rage. Read More News on flair writing ipo flair writing flair writing fund raise flair writing issue size flair writing ipo price band winro commercial (india) ltd sbi life insurance company icici prudential life insurance company (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. Top Trending Stocks: Sensex Today Live , SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price ... more less Pick the best stocks for yourself
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2024-11-02 | GlobeNewswire | ANOTHER RECORD QUARTER SUSTAINING UPWARD REVISED YEAR-END OUTLOOK | “Another record quarter with profit growth driven by an even richer mix and by the continuing appeal of personalizations leading us to increase year-end guidance. The order book remains at highest levels reflecting strong demand across all geographies, covering the entire 2025,” said Benedetto Vigna, Ferrari Chief Executive Officer. “Our brand’s uniqueness has once again contributed to this success, informing everything we do - from car launches, including the latest 296 Challenge and 499P Modificata, to the exclusive experiences we offer our clients, such as the Ferrari Gala recently held in New York and the Finali Mondiali at Mugello circuit”. Maranello (Italy), November 2, 2023– Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results(2)for the third quarter and nine months ended September 30, 2023. Shipments(3)(4) Shipments totaled 3,459 units in Q3 2023, up 271 units versus the prior year, serving a very solid order book and reflecting volumes, geographic and product allocation plans by quarter. As a result, EMEA(4)increased by 8.3%, Americas(4)was up 21.1%, Mainland China, Hong Kong and Taiwan decreased by 36 units and Rest of APAC(4)was almost flat versus the prior year quarter. Deliveries in the quarter were driven by the 296 and the SF90 families, while the F8 Spider was approaching the end of lifecycle. In the quarter the 812 Competizione A and the Purosangue were in ramp up phase, and the allocations of the Daytona SP3 continued as planned. The product portfolio in the quarter included nine internal combustion engine (ICE)(7)models and four hybrid engine models. Hybrid deliveries reached 51.0% of total shipments in the quarter. Total net revenues Net revenues for Q3 2023 were Euro 1,544 million, up 23.5% or 25.8% at constant currency(1). Revenues from Cars and spare parts(8)were Euro 1,330 million (up 26.5% or 29.1% at constant currency(1)), thanks to higher volumes, richer product mix and country mix, as well as the increased contribution from personalizations and pricing. Sponsorship, commercial and brand(9)revenues reached Euro 145 million, up 13.8% or 13.4% at constant currency(1)mainly attributable to new sponsorships and the better prior year Formula 1 ranking. The decrease in Engines(10)revenues (Euro 28 million, down 33.0%, also at constant currency(1)) was attributable to lower shipments to Maserati, as the 2023 contract expiration gets closer. Currency – including translation and transaction impacts as well as foreign currency hedges – had a negative net impact of Euro 36 million, mostly related to Chinese Yuan, Japanese Yen and US Dollar. Adjusted EBITDA(1)and Adjusted EBIT(1) Q3 2023 Adjusted EBITDA(1)reached Euro 595 million, up 37.0% versus the prior year and with an Adjusted EBITDA(1)margin of 38.6%. Q3 2023 Adjusted EBIT(1)was Euro 423 million, increased 41.6% versus the prior year and with an Adjusted EBIT(1)margin of 27.4%. Volume was positive (Euro 33 million), reflecting the shipments increase versus the prior year. The Mix / price variance performance was very strong and positive (Euro 170 million), mainly reflecting the enrichment of the product mix, sustained by the Daytona SP3, the 812 Competizione and the SF90 families, the positive country mix driven by Americas, as well as the increased contribution from personalizations and pricing. Industrial costs / research and development expenses increased (Euro 63 million), mainly due to higher depreciation and amortization as well as raw materials cost inflation. SG&A also grew (Euro 10 million) mainly reflecting the development of the Company’s organization and its digital infrastructure. Other changes were positive (Euro 17 million), mainly reflecting higher commercial revenues from a better prior year Formula 1 ranking and new sponsorships. Financial income, net contributed positively for approximately Euro 3 million thanks to higher yields on liquidity, realized gains on bond cash tender executed in the quarter and overall net foreign exchange impact. The tax rate in the quarter was approximately 22%, mainly reflecting the estimate of the benefit attributable to the Patent Box, the Allowance for Corporate Equity (ACE)(12)and tax incentives for eligible research and development costs and investments. As a result, the Adjusted Net profit(1)for the quarter was Euro 332 million, up 45.7% versus the prior year, and the Adjusted diluted earnings per share(1)for the quarter reached Euro 1.82, compared to Euro 1.23 in Q3 2022. Industrial free cash flow(1)for the quarter was strong at Euro 301 million, driven by the increased Adjusted EBITDA(1), partially offset by capital expenditures(13)of Euro 205 million and the increase in working capital, provisions and other of Euro 80 million. Net Industrial Debt(1)as of September 30, 2023 was Euro 233 million, compared to Euro 331 million as of June 30, 2023, also reflecting share repurchases of Euro 194 million. As of September 30, 2023, total available liquidity was Euro 1,612 million (Euro 1,710 million as of June 30, 2023), including undrawn committed credit lines of Euro 600 million. Upward revised 2023 guidance, based on the following assumptions for the year: Q3 2023 highlights: Subsequent Events: About FerrariFerrari is among the world’s leading luxury brands focused on the design, engineering, production and sale of the world’s most recognizable luxury performance sports cars. Ferrari brand symbolizes exclusivity, innovation, state-of-the-art sporting performance and Italian design. Its history and the image enjoyed by its cars are closely associated with its Formula 1 racing team, Scuderia Ferrari, the most successful team in Formula 1 history. From the inaugural year of Formula 1 World Championship in 1950 through the present, Scuderia Ferrari has won 243 Grand Prix races, 16 Constructors’ World titles and 15 Drivers’ World titles. Ferrari designs, engineers and produces its cars in Maranello, Italy, and sells them in over 60 markets worldwide. Forward Looking StatementsThis document, and in particular the section entitled “Upward revised 2023 guidance”, contain forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “continue”, “on track”, “successful”, “grow”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, “guidance” and similar expressions. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Group’s current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: the Group’s ability to preserve and enhance the value of the Ferrari brand; the performance of the Group’s racing teams, the expenses the Group incurs for and commercial revenues the Group generates from racing, as well as the popularity of motor sports more broadly; the Group’s ability to keep up with advances in high performance car technology, to meet the challenges and costs of integrating advanced technologies, including hybrid and electric, more broadly into its car portfolio over time and to make appealing designs for its new models; the impact of increasingly stringent fuel economy, emissions and safety standards, including the cost of compliance, and any required changes to its products, as well as possible future bans of combustion engine cars in cities and the potential advent of self-driving technology; increases in costs, disruptions of supply or shortages of components and raw materials; global economic conditions, macro events, pandemics and conflicts, including the ongoing conflict between Russia and Ukraine and the more recent hostilities between Israel and Hamas; changes in the general economic environment (including changes in some of the markets in which the Group operates) and changes in demand for luxury goods, including high performance luxury cars, demand for which is highly volatile; the Group’s ability to successfully carry out its low volume / controlled growth strategy in the markets the Group is present; the Group’s ability to preserve its relationship with the automobile collector and enthusiast community; competition in the luxury performance automobile industry; changes in client preferences and automotive trends; disruptions at the Group’s manufacturing facilities in Maranello and Modena; climate change and other environmental impacts, as well as an increased focus of regulators and stakeholders on environmental matters; the Group’s ability to maintain the functional and efficient operation of its information technology systems and to defend from the risk of cyberattacks, including on its in-vehicle technology; reliance upon a number of key members of executive management and employees, and the ability of its current management team to operate and manage effectively; the performance of the Group’s dealer network on which the Group depends for sales and services; the Group’s ability to protect its intellectual property rights and to avoid infringing on the intellectual property rights of others; product warranties, product recalls, and liability claims; the performance of the Group’s lifestyle activities; the Group’s continued compliance with customs regulations of various jurisdictions; changes in tax, tariff or fiscal policies and regulatory, political and labor conditions in the jurisdictions in which the Group operates; labor relations and collective bargaining agreements; the Group’s ability to ensure that its employees, agents and representatives comply with applicable law and regulations; the Group’s ability to service and refinance its debt; exchange rate fluctuations, interest rate changes, credit risk and other market risks; the Group’s ability to provide or arrange for adequate access to financing for its dealers and clients, and associated risks; the adequacy of its insurance coverage to protect the Group against potential losses; potential conflicts of interest due to director and officer overlaps with the Group’s largest shareholders; and other factors discussed elsewhere in this document. The Group expressly disclaims and does not assume any liability in connection with any inaccuracies in any of the forward-looking statements in this document or in connection with any use by any third party of such forward-looking statements. Any forward-looking statements contained in this document speak only as of the date of this document and the Company does not undertake any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its businesses, including factors that could materially affect the Company’s financial results, is included in the Company’s reports and filings with the U.S. Securities and Exchange Commission, the AFM and CONSOB. For further information:Media Relationstel.: +39 0536 949337Email:media@ferrari.com Investor Relationstel.: +39 0536 949695Email:ir@ferrari.com www.ferrari.com Capex and R&D Non-GAAP financial measures Operations are monitored through the use of various non-GAAP financial measures that may not be comparable to other similarly titled measures of other companies. Accordingly, investors and analysts should exercise appropriate caution in comparing these supplemental financial measures to similarly titled financial measures reported by other companies. We believe that these supplemental financial measures provide comparable measures of financial performance which then facilitate management’s ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions. Certain totals in the tables included in this document may not add due to rounding. Key performance metrics and reconciliations of NON-GAAP financial measures Total net revenues, EBITDA, Adj. EBITDA, EBIT and Adj. EBIT at constant currencyeliminate the effects of changes in foreign currency (transaction and translation) and of foreign currency hedges. EBITDAis defined as net profit before income tax expense, financial expenses/(income), net and amortization and depreciation.Adjusted EBITDAis defined as EBITDA as adjusted for certain income and costs, which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities. Adjusted Earnings Before Interest and Taxes or “Adjusted EBIT” represents EBIT as adjusted for certain income and costs which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities. Adjusted Net profitrepresents net profit as adjusted for certain income and costs (net of tax effect) which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities. Basic and diluted EPS(16)are determined as per the table here below.Adjusted EPSrepresents EPS as adjusted for certain income and costs (net of tax effect) which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities. Net Industrial Debt, defined as total Debt less Cash and Cash Equivalents (Net Debt), further adjusted to exclude the debt and cash and cash equivalents related to our financial services activities (Net Debt of Financial Services Activities). Free Cash FlowandFree Cash Flow from Industrial Activitiesare two of management’s primary key performance indicators to measure the Group’s performance. Free Cash Flow is defined as cash flows from operating activities less investments in property, plant and equipment (excluding right-of-use assets recognized during the period in accordance with IFRS 16 — Leases), intangible assets and joint ventures. Free Cash Flow from Industrial Activities is defined as Free Cash Flow adjusted to exclude the operating cash flow from our financial services activities (Free Cash Flow from Financial Services Activities). On November 2, 2023, at 3:00 p.m. CET, management will hold a conference call to present the Q3 2023 results to financial analysts and institutional investors. Please note that registering in advance is required to access the conference call details. The call can be followed live and a recording will subsequently be available on the Group’s website https://www.ferrari.com/en-EN/corporate/investors. The supporting document will be made available on the website prior to the call. 1 Refer to specific paragraph on non-GAAP financial measures. The term EBIT is used as a synonym for operating profit. There were no adjustments impacting EBITDA, EBITDA margin, EBIT, EBIT margin, Net profit, Basic EPS and Diluted EPS in the periods presented.2 These results have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board and IFRS as endorsed by the European Union3 Excluding the XX Programme, racing cars, one-off and pre-owned cars4 EMEA includes: Italy, UK, Germany, Switzerland, France, Middle East (includes the United Arab Emirates, Saudi Arabia, Bahrain, Lebanon, Qatar, Oman and Kuwait), Africa and the other European markets not separately identified; Americas includes: United States of America, Canada, Mexico, the Caribbean and Central and South America; Rest of APAC mainly includes: Japan, Australia, Singapore, Indonesia, South Korea, Thailand, India and Malaysia5 Of which 935 units in Q3 2023 (+25.7% vs Q3 2022) and 2,497 units in 9M 2023 (+11.8% vs 9M 2022) in the United States of America6 Of which 342 units in Q3 2023 (-11.4% vs Q3 2022) and 929 units in 9M 2023 (+4.3% vs 9M 2022) in Mainland China7 It includes one ICE track car model 8 Includes net revenues generated from shipments of our cars, any personalization generated on cars, as well as sales of spare parts9 Includes net revenues earned by our racing teams (mainly in the Formula 1 World Championship and the World Endurance Championship) through sponsorship agreements, our share of the Formula 1 World Championship commercial revenues, and net revenues generated through the Ferrari brand, including fashion collection, merchandising, licensing and royalty income10 Includes net revenues generated from the sale of engines to Maserati for use in their cars and from the rental of engines to other Formula 1 racing teams11 Primarily relates to financial services activities, management of the Mugello racetrack and other sports-related activities12Also known as Notional Interest Deduction - NID 13Capital expenditures excluding right-of-use assets recognized during the period in accordance with IFRS 16 - Leases14 Calculated using the weighted average diluted number of common shares as of December 31, 2022 (183,072 thousand)15 Capitalized as intangible assets 16 For the three and nine months ended September 30, 2023 and 2022 the weighted average number of common shares for diluted earnings per share was increased to take into consideration the theoretical effect of the potential common shares that would be issued for outstanding share-based awards granted by the Group (assuming 100 percent of the target awards vested)17 Free cash flow from industrial activities for the nine months ended September 30, 2023 includes Euro 1 million related to dividends to withholding taxes and dividends to NCI, which are expected to be paid in the following quarters. Free cash flow from industrial activities for the nine months ended September 30, 2022 included Euro 1 million related to withholding taxes and dividends to NCI, which were paid in the following quarters. Attachment |
2024-11-02 | Marketscreener.com | ANOTHER RECORD QUARTER SUSTAINING UPWARD REVISED YEAR-END OUTLOOK | “Another record quarter with profit growth driven by an even richer mix and by the continuing appeal of personalizations leading us to increase year-end guidance. The order book remains at highest levels reflecting strong demand across all geographies, covering the entire 2025,” said Benedetto Vigna, Ferrari Chief Executive Officer. “Our brand’s uniqueness has once again contributed to this success, informing everything we do - from car launches, including the latest 296 Challenge and 499P Modificata, to the exclusive experiences we offer our clients, such as the Ferrari Gala recently held in New York and the Finali Mondiali at Mugello circuit”. Maranello (Italy), November 2, 2023– Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results(2)for the third quarter and nine months ended September 30, 2023. Shipments(3)(4) Shipments totaled 3,459 units in Q3 2023, up 271 units versus the prior year, serving a very solid order book and reflecting volumes, geographic and product allocation plans by quarter. As a result, EMEA(4)increased by 8.3%, Americas(4)was up 21.1%, Mainland China, Hong Kong and Taiwan decreased by 36 units and Rest of APAC(4)was almost flat versus the prior year quarter. Deliveries in the quarter were driven by the 296 and the SF90 families, while the F8 Spider was approaching the end of lifecycle. In the quarter the 812 Competizione A and the Purosangue were in ramp up phase, and the allocations of the Daytona SP3 continued as planned. The product portfolio in the quarter included nine internal combustion engine (ICE)(7)models and four hybrid engine models. Hybrid deliveries reached 51.0% of total shipments in the quarter. Total net revenues Net revenues for Q3 2023 were Euro 1,544 million, up 23.5% or 25.8% at constant currency(1). Revenues from Cars and spare parts(8)were Euro 1,330 million (up 26.5% or 29.1% at constant currency(1)), thanks to higher volumes, richer product mix and country mix, as well as the increased contribution from personalizations and pricing. Sponsorship, commercial and brand(9)revenues reached Euro 145 million, up 13.8% or 13.4% at constant currency(1)mainly attributable to new sponsorships and the better prior year Formula 1 ranking. The decrease in Engines(10)revenues (Euro 28 million, down 33.0%, also at constant currency(1)) was attributable to lower shipments to Maserati, as the 2023 contract expiration gets closer. Currency – including translation and transaction impacts as well as foreign currency hedges – had a negative net impact of Euro 36 million, mostly related to Chinese Yuan, Japanese Yen and US Dollar. Adjusted EBITDA(1)and Adjusted EBIT(1) Q3 2023 Adjusted EBITDA(1)reached Euro 595 million, up 37.0% versus the prior year and with an Adjusted EBITDA(1)margin of 38.6%. Q3 2023 Adjusted EBIT(1)was Euro 423 million, increased 41.6% versus the prior year and with an Adjusted EBIT(1)margin of 27.4%. Volume was positive (Euro 33 million), reflecting the shipments increase versus the prior year. The Mix / price variance performance was very strong and positive (Euro 170 million), mainly reflecting the enrichment of the product mix, sustained by the Daytona SP3, the 812 Competizione and the SF90 families, the positive country mix driven by Americas, as well as the increased contribution from personalizations and pricing. Industrial costs / research and development expenses increased (Euro 63 million), mainly due to higher depreciation and amortization as well as raw materials cost inflation. SG&A also grew (Euro 10 million) mainly reflecting the development of the Company’s organization and its digital infrastructure. Other changes were positive (Euro 17 million), mainly reflecting higher commercial revenues from a better prior year Formula 1 ranking and new sponsorships. Financial income, net contributed positively for approximately Euro 3 million thanks to higher yields on liquidity, realized gains on bond cash tender executed in the quarter and overall net foreign exchange impact. The tax rate in the quarter was approximately 22%, mainly reflecting the estimate of the benefit attributable to the Patent Box, the Allowance for Corporate Equity (ACE)(12)and tax incentives for eligible research and development costs and investments. As a result, the Adjusted Net profit(1)for the quarter was Euro 332 million, up 45.7% versus the prior year, and the Adjusted diluted earnings per share(1)for the quarter reached Euro 1.82, compared to Euro 1.23 in Q3 2022. Industrial free cash flow(1)for the quarter was strong at Euro 301 million, driven by the increased Adjusted EBITDA(1), partially offset by capital expenditures(13)of Euro 205 million and the increase in working capital, provisions and other of Euro 80 million. Net Industrial Debt(1)as of September 30, 2023 was Euro 233 million, compared to Euro 331 million as of June 30, 2023, also reflecting share repurchases of Euro 194 million. As of September 30, 2023, total available liquidity was Euro 1,612 million (Euro 1,710 million as of June 30, 2023), including undrawn committed credit lines of Euro 600 million. Upward revised 2023 guidance, based on the following assumptions for the year: Q3 2023 highlights: Subsequent Events: About FerrariFerrari is among the world’s leading luxury brands focused on the design, engineering, production and sale of the world’s most recognizable luxury performance sports cars. Ferrari brand symbolizes exclusivity, innovation, state-of-the-art sporting performance and Italian design. Its history and the image enjoyed by its cars are closely associated with its Formula 1 racing team, Scuderia Ferrari, the most successful team in Formula 1 history. From the inaugural year of Formula 1 World Championship in 1950 through the present, Scuderia Ferrari has won 243 Grand Prix races, 16 Constructors’ World titles and 15 Drivers’ World titles. Ferrari designs, engineers and produces its cars in Maranello, Italy, and sells them in over 60 markets worldwide. Forward Looking StatementsThis document, and in particular the section entitled “Upward revised 2023 guidance”, contain forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “continue”, “on track”, “successful”, “grow”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, “guidance” and similar expressions. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Group’s current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: the Group’s ability to preserve and enhance the value of the Ferrari brand; the performance of the Group’s racing teams, the expenses the Group incurs for and commercial revenues the Group generates from racing, as well as the popularity of motor sports more broadly; the Group’s ability to keep up with advances in high performance car technology, to meet the challenges and costs of integrating advanced technologies, including hybrid and electric, more broadly into its car portfolio over time and to make appealing designs for its new models; the impact of increasingly stringent fuel economy, emissions and safety standards, including the cost of compliance, and any required changes to its products, as well as possible future bans of combustion engine cars in cities and the potential advent of self-driving technology; increases in costs, disruptions of supply or shortages of components and raw materials; global economic conditions, macro events, pandemics and conflicts, including the ongoing conflict between Russia and Ukraine and the more recent hostilities between Israel and Hamas; changes in the general economic environment (including changes in some of the markets in which the Group operates) and changes in demand for luxury goods, including high performance luxury cars, demand for which is highly volatile; the Group’s ability to successfully carry out its low volume / controlled growth strategy in the markets the Group is present; the Group’s ability to preserve its relationship with the automobile collector and enthusiast community; competition in the luxury performance automobile industry; changes in client preferences and automotive trends; disruptions at the Group’s manufacturing facilities in Maranello and Modena; climate change and other environmental impacts, as well as an increased focus of regulators and stakeholders on environmental matters; the Group’s ability to maintain the functional and efficient operation of its information technology systems and to defend from the risk of cyberattacks, including on its in-vehicle technology; reliance upon a number of key members of executive management and employees, and the ability of its current management team to operate and manage effectively; the performance of the Group’s dealer network on which the Group depends for sales and services; the Group’s ability to protect its intellectual property rights and to avoid infringing on the intellectual property rights of others; product warranties, product recalls, and liability claims; the performance of the Group’s lifestyle activities; the Group’s continued compliance with customs regulations of various jurisdictions; changes in tax, tariff or fiscal policies and regulatory, political and labor conditions in the jurisdictions in which the Group operates; labor relations and collective bargaining agreements; the Group’s ability to ensure that its employees, agents and representatives comply with applicable law and regulations; the Group’s ability to service and refinance its debt; exchange rate fluctuations, interest rate changes, credit risk and other market risks; the Group’s ability to provide or arrange for adequate access to financing for its dealers and clients, and associated risks; the adequacy of its insurance coverage to protect the Group against potential losses; potential conflicts of interest due to director and officer overlaps with the Group’s largest shareholders; and other factors discussed elsewhere in this document. The Group expressly disclaims and does not assume any liability in connection with any inaccuracies in any of the forward-looking statements in this document or in connection with any use by any third party of such forward-looking statements. Any forward-looking statements contained in this document speak only as of the date of this document and the Company does not undertake any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its businesses, including factors that could materially affect the Company’s financial results, is included in the Company’s reports and filings with the U.S. Securities and Exchange Commission, the AFM and CONSOB. For further information:Media Relationstel.: +39 0536 949337Email:media@ferrari.com Investor Relationstel.: +39 0536 949695Email:ir@ferrari.com www.ferrari.com Capex and R&D Non-GAAP financial measures Operations are monitored through the use of various non-GAAP financial measures that may not be comparable to other similarly titled measures of other companies. Accordingly, investors and analysts should exercise appropriate caution in comparing these supplemental financial measures to similarly titled financial measures reported by other companies. We believe that these supplemental financial measures provide comparable measures of financial performance which then facilitate management’s ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions. Certain totals in the tables included in this document may not add due to rounding. Key performance metrics and reconciliations of NON-GAAP financial measures Total net revenues, EBITDA, Adj. EBITDA, EBIT and Adj. EBIT at constant currencyeliminate the effects of changes in foreign currency (transaction and translation) and of foreign currency hedges. EBITDAis defined as net profit before income tax expense, financial expenses/(income), net and amortization and depreciation.Adjusted EBITDAis defined as EBITDA as adjusted for certain income and costs, which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities. Adjusted Earnings Before Interest and Taxes or “Adjusted EBIT” represents EBIT as adjusted for certain income and costs which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities. Adjusted Net profitrepresents net profit as adjusted for certain income and costs (net of tax effect) which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities. Basic and diluted EPS(16)are determined as per the table here below.Adjusted EPSrepresents EPS as adjusted for certain income and costs (net of tax effect) which are significant in nature, expected to occur infrequently, and that management considers not reflective of ongoing operational activities. Net Industrial Debt, defined as total Debt less Cash and Cash Equivalents (Net Debt), further adjusted to exclude the debt and cash and cash equivalents related to our financial services activities (Net Debt of Financial Services Activities). Free Cash FlowandFree Cash Flow from Industrial Activitiesare two of management’s primary key performance indicators to measure the Group’s performance. Free Cash Flow is defined as cash flows from operating activities less investments in property, plant and equipment (excluding right-of-use assets recognized during the period in accordance with IFRS 16 — Leases), intangible assets and joint ventures. Free Cash Flow from Industrial Activities is defined as Free Cash Flow adjusted to exclude the operating cash flow from our financial services activities (Free Cash Flow from Financial Services Activities). On November 2, 2023, at 3:00 p.m. CET, management will hold a conference call to present the Q3 2023 results to financial analysts and institutional investors. Please note that registering in advance is required to access the conference call details. The call can be followed live and a recording will subsequently be available on the Group’s websitehttps://www.ferrari.com/en-EN/corporate/investors. The supporting document will be made available on the website prior to the call. 1 Refer to specific paragraph on non-GAAP financial measures. The term EBIT is used as a synonym for operating profit. There were no adjustments impacting EBITDA, EBITDA margin, EBIT, EBIT margin, Net profit, Basic EPS and Diluted EPS in the periods presented.2 These results have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board and IFRS as endorsed by the European Union3 Excluding the XX Programme, racing cars, one-off and pre-owned cars4 EMEA includes: Italy, UK, Germany, Switzerland, France, Middle East (includes the United Arab Emirates, Saudi Arabia, Bahrain, Lebanon, Qatar, Oman and Kuwait), Africa and the other European markets not separately identified; Americas includes: United States of America, Canada, Mexico, the Caribbean and Central and South America; Rest of APAC mainly includes: Japan, Australia, Singapore, Indonesia, South Korea, Thailand, India and Malaysia5 Of which 935 units in Q3 2023 (+25.7% vs Q3 2022) and 2,497 units in 9M 2023 (+11.8% vs 9M 2022) in the United States of America6 Of which 342 units in Q3 2023 (-11.4% vs Q3 2022) and 929 units in 9M 2023 (+4.3% vs 9M 2022) in Mainland China7 It includes one ICE track car model 8 Includes net revenues generated from shipments of our cars, any personalization generated on cars, as well as sales of spare parts9 Includes net revenues earned by our racing teams (mainly in the Formula 1 World Championship and the World Endurance Championship) through sponsorship agreements, our share of the Formula 1 World Championship commercial revenues, and net revenues generated through the Ferrari brand, including fashion collection, merchandising, licensing and royalty income10 Includes net revenues generated from the sale of engines to Maserati for use in their cars and from the rental of engines to other Formula 1 racing teams11 Primarily relates to financial services activities, management of the Mugello racetrack and other sports-related activities12Also known as Notional Interest Deduction - NID 13Capital expenditures excluding right-of-use assets recognized during the period in accordance with IFRS 16 - Leases14 Calculated using the weighted average diluted number of common shares as of December 31, 2022 (183,072 thousand)15 Capitalized as intangible assets 16 For the three and nine months ended September 30, 2023 and 2022 the weighted average number of common shares for diluted earnings per share was increased to take into consideration the theoretical effect of the potential common shares that would be issued for outstanding share-based awards granted by the Group (assuming 100 percent of the target awards vested)17 Free cash flow from industrial activities for the nine months ended September 30, 2023 includes Euro 1 million related to dividends to withholding taxes and dividends to NCI, which are expected to be paid in the following quarters. Free cash flow from industrial activities for the nine months ended September 30, 2022 included Euro 1 million related to withholding taxes and dividends to NCI, which were paid in the following quarters. Attachment |
2024-11-02 | ETF Daily News | Accenture plc (NYSE:ACN) Stock Position Increased by Steward Financial Group LLC | Steward Financial Group LLC raised its position in Accenture plc (NYSE:ACN–Free Report) by 13.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 644 shares of the information technology services provider’s stock after purchasing an additional 74 shares during the quarter. Steward Financial Group LLC’s holdings in Accenture were worth $198,000 as of its most recent filing with the Securities and Exchange Commission. Several other hedge funds and other institutional investors have also made changes to their positions in ACN. Lincoln National Corp increased its position in shares of Accenture by 10.4% during the 2nd quarter. Lincoln National Corp now owns 5,705 shares of the information technology services provider’s stock valued at $1,760,000 after purchasing an additional 539 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Accenture during the second quarter worth $278,000. Impax Asset Management Group plc boosted its position in Accenture by 10.1% during the second quarter. Impax Asset Management Group plc now owns 231,982 shares of the information technology services provider’s stock valued at $71,585,000 after purchasing an additional 21,270 shares during the last quarter. Parallel Advisors LLC grew its stake in Accenture by 4.7% in the second quarter. Parallel Advisors LLC now owns 56,966 shares of the information technology services provider’s stock valued at $17,579,000 after purchasing an additional 2,567 shares in the last quarter. Finally, Ascent Wealth Partners LLC boosted its position in Accenture by 8.8% during the second quarter. Ascent Wealth Partners LLC now owns 36,866 shares of the information technology services provider’s stock worth $11,216,000 after purchasing an additional 2,970 shares during the period. 70.42% of the stock is currently owned by institutional investors and hedge funds. Shares ofACNtraded up $5.05 during trading hours on Thursday, hitting $305.69. 291,493 shares of the stock were exchanged, compared to its average volume of 2,256,381. The firm has a market capitalization of $191.95 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 2.58 and a beta of 1.23. Accenture plc has a fifty-two week low of $242.80 and a fifty-two week high of $330.43. The business has a 50-day moving average of $311.51 and a 200-day moving average of $304.51. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverAccenture (NYSE:ACN–Get Free Report) last issued its quarterly earnings data on Thursday, September 28th. The information technology services provider reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.06. Accenture had a net margin of 10.72% and a return on equity of 29.74%. The firm had revenue of $15.99 billion during the quarter, compared to analysts’ expectations of $16.07 billion. During the same period last year, the company earned $2.60 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. As a group, analysts forecast that Accenture plc will post 12.1 earnings per share for the current fiscal year. Accenture announced that its Board of Directors has initiated a share buyback plan on Thursday, September 28th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the information technology services provider to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued. The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Thursday, October 12th will be given a $1.29 dividend. This is a positive change from Accenture’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, October 11th. This represents a $5.16 annualized dividend and a yield of 1.69%. Accenture’s payout ratio is currently 47.91%. In other news, CEOLeonardo Framilsold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $311.52, for a total value of $934,560.00. Following the sale, the chief executive officer now owns 16,898 shares of the company’s stock, valued at $5,264,064.96. The transaction was disclosed in a legal filing with the SEC, which is accessible throughthe SEC website. In related news, CEOLeonardo Framilsold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $311.52, for a total transaction of $934,560.00. Following the sale, the chief executive officer now owns 16,898 shares of the company’s stock, valued at approximately $5,264,064.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible throughthis hyperlink. Also, CEOJulie Spellman Sweetsold 9,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $291.41, for a total value of $2,622,690.00. Following the completion of the sale, the chief executive officer now owns 35,830 shares in the company, valued at approximately $10,441,220.30. The disclosure for this sale can be foundhere. Insiders sold 29,251 shares of company stock valued at $8,716,567 in the last three months. Company insiders own 0.08% of the company’s stock. ACN has been the subject of several research reports. Robert W. Baird reduced their target price on shares of Accenture from $332.00 to $322.00 and set a “neutral” rating for the company in a research note on Friday, September 29th. BMO Capital Markets decreased their price target on Accenture from $360.00 to $350.00 in a research note on Friday, September 29th. Wedbush reiterated an “outperform” rating and set a $330.00 price objective on shares of Accenture in a research note on Tuesday, September 26th. Royal Bank of Canada restated an “outperform” rating and issued a $340.00 target price on shares of Accenture in a research note on Friday, September 29th. Finally, Morgan Stanley lifted their price target on shares of Accenture from $340.00 to $356.00 and gave the company an “overweight” rating in a report on Tuesday, September 12th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $333.24. View Our Latest Analysis on ACN (Free Report) Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services. Want to see what other hedge funds are holding ACN?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Accenture plc (NYSE:ACN–Free Report). |
2024-11-02 | Marketscreener.com | CURO Group Holdings Corp. Reports Third Quarter 2023 Financial Results | CURO Group Holdings Corp. (NYSE: CURO) (“CURO” or the “Company”), an omni-channel consumer finance company serving consumers in the U.S. and Canada, today announced financial results for its third quarter ended September 30, 2023. “The third quarter marked another significant milestone with the sale of the Flexiti business which allows us to focus on being an industry leader in Direct Lending in the U.S. and Canada,” said Doug Clark, Chief Executive Officer at CURO. “We completed our conversion to a single loan management system across our U.S. footprint and continue to invest in our technology infrastructure which we believe will accelerate our path to profitability. We continue to execute on our plan outlined at the beginning of the year, which resulted in meeting our expectations for the third consecutive quarter. Our disciplined underwriting, prudent originations and enhanced servicing have resulted in improved credit quality metrics while at the same time allowing us to grow our loan portfolio. We diligently monitor challenges presented by the macro environment and will remain vigilant on executing our long-term strategy which has exciting opportunities in both the U.S and Canada.” Third Quarter 2023 Consolidated Summary Results Current and prior period financial information is presented on a continuing operations basis, which excludes the results and positions of the Canada POS Lending segment due to the sale of the Flexiti business effective on August 31, 2023. As of or for the Quarter Ended Sep 30, Jun 30, Mar 31, Dec 31, Sep 30, Delinquency and Loss Ratios 2023 2023 2023 2022 2022 31-60 days delinquency ratio 2.4 % 2.5 % 2.1 % 2.4 % 2.8 % 61-90 days delinquency ratio 1.7 % 1.7 % 1.8 % 1.8 % 2.0 % 91+ days delinquency ratio 4.4 % 4.1 % 4.4 % 3.4 % 3.5 % Net charge-offs 17.7 % 18.8 % 15.6 % 20.9 % 18.4 % Funding and Liquidity As of September 30, 2023, principal debt balances outstanding were $2.0 billion, consisting of 57% of fixed rate debt and 43% of variable rate debt. As of September 30, 2023, available capital resources were approximately $285.3 million, comprised of $82.6 million in unrestricted Cash and cash equivalents, $127.9 million in unused borrowing capacity for growth and $74.8 million of unencumbered Gross loans receivable. About CURO CURO Group Holdings Corp. (NYSE: CURO) is a leading consumer credit lender serving U.S. and Canadian customers for over 25 years. Our roots in the consumer finance market run deep. We’ve worked diligently to provide customers a variety of convenient, easily accessible financial services. Our decades of diversified data power a hard-to-replicate underwriting and scoring engine, mitigating risk across the full spectrum of credit products. We operate under a number of brands including Cash Money®, LendDirect®, Heights Finance, Southern Finance, Covington Credit, Quick Credit and First Heritage Credit. Conference Call CURO will host a conference call to discuss these results at 8:30 a.m. Eastern Time on Thursday, November 2, 2023. The live webcast of the call can be accessed at the CURO Investor Relations website athttp://ir.curo.com/. You may access the call at 1-416-764-8624 (Toll free: 1-888-259-6580). Please ask to join the CURO Group Holdings call. An archived version of the webcast will be available on the CURO Investors website for 90 days. Final Results The financial results presented and discussed herein are on a preliminary and unaudited basis; final unaudited data will be included in the Company’s Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2023. Table 1 - Consolidated Statements of Operations (in thousands, except per share data, unaudited) Three Months Ended, Sep 30, Jun 30, Mar 31, Dec 31, Sep 30, 2023 2023 2023 2022 2022 Revenue Interest and fees revenue $ 143,493 $ 141,766 $ 144,304 $ 150,350 $ 155,940 Insurance and other income 24,370 25,250 25,064 31,575 30,469 Total revenue 167,863 167,016 169,368 181,925 186,409 Provision for losses 49,009 63,755 48,364 77,724 65,020 Net revenue 118,854 103,261 121,004 104,201 121,389 Operating Expenses — Salaries and benefits 52,148 53,144 56,619 60,149 49,179 Occupancy 10,454 10,885 11,344 11,785 12,419 Advertising 2,819 1,967 1,999 3,383 4,676 Direct operations 12,176 12,032 9,745 7,921 8,288 Depreciation and amortization 5,390 5,339 5,390 5,329 5,683 Other operating expense 11,207 7,918 18,054 23,065 22,595 Total operating expenses 94,194 91,285 103,151 111,632 102,840 Other expense (income) Interest expense 55,798 50,460 44,045 41,180 38,155 Loss from equity method investment 1,453 2,134 3,413 1,932 2,309 Goodwill impairment — — — 107,827 — Extinguishment or modification of debt costs — 8,864 — 24 3,702 Gain on sale of business — — 2,027 — (68,443 ) Miscellaneous expenses — 1,435 — — — Total other expense (income) 57,251 62,893 49,485 150,963 (24,277 ) (Loss) income from continuing operations before income taxes (32,591 ) (50,917 ) (31,632 ) (158,394 ) 42,826 Provision for income taxes from continuing operations 1,021 3,147 23,277 (15,970 ) 21,709 Net (loss) income from continuing operations $ (33,612 ) $ (54,064 ) $ (54,909 ) $ (142,424 ) $ 21,117 Net (loss) income from discontinued operations (70,830 ) (5,263 ) (4,562 ) (43,969 ) 4,536 Net (loss) income $ (104,442 ) $ (59,327 ) $ (59,471 ) $ (186,393 ) $ 25,653 Basic (loss) earnings per share: Continuing operations $ (0.81 ) $ (1.32 ) $ (1.35 ) $ (3.52 ) $ 0.52 Discontinued operations $ (1.72 ) $ (0.13 ) $ (0.11 ) $ (1.09 ) $ 0.11 Diluted (loss) earnings per share: Continuing operations $ (0.81 ) $ (1.32 ) $ (1.35 ) $ (3.52 ) $ 0.52 Discontinued operations $ (1.72 ) $ (0.13 ) $ (0.11 ) $ (1.09 ) $ 0.11 Weighted average common shares outstanding: Basic 41,267 41,002 40,783 40,428 40,479 Diluted 41,267 41,002 40,783 40,428 40,835 Table 2 - Consolidated Balance Sheets As of (in thousands, unaudited) Sep 30, Jun 30, Mar 31, Dec 31, Sep 30, 2023 2023 2023 2022 2022 ASSETS Cash and cash equivalents $ 82,550 $ 101,033 $ 40,449 $ 50,856 $ 40,068 Restricted cash 53,818 76,375 90,211 59,645 66,962 Gross loans receivable 1,254,401 1,227,615 1,209,576 1,254,395 1,204,157 Less: Allowance for loan losses (199,739 ) (210,292 ) (202,757 ) (81,185 ) (69,535 ) Loans receivable, net 1,054,662 1,017,323 1,006,819 1,173,210 1,134,622 Income taxes receivable 58,064 20,854 22,737 23,984 13,561 Prepaid expenses and other 61,441 42,131 45,592 51,081 62,685 Property and equipment, net 23,903 25,826 27,244 29,232 34,715 Investment in Katapult 16,915 18,368 20,502 23,915 25,848 Right of use asset - operating leases 51,413 53,042 51,615 58,177 61,642 Deferred tax assets 14,194 15,304 13,623 18,138 4,817 Goodwill 276,269 277,069 276,487 276,269 387,298 Intangibles, net 74,336 74,007 71,798 70,913 69,989 Other assets 9,387 6,673 6,785 8,370 8,207 Assets, discontinued operations — 1,016,832 947,925 945,403 866,939 Total Assets $ 1,776,952 $ 2,744,837 $ 2,621,787 $ 2,789,193 $ 2,777,353 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities Accounts payable and accrued liabilities $ 62,992 $ 54,169 $ 60,890 $ 45,595 $ 46,666 Deferred revenue 2,358 3,370 3,493 3,467 3,256 Lease liability - operating leases 51,579 53,182 52,061 59,396 62,893 Income taxes payable 2,537 (1,242 ) — — — Accrued interest 20,953 39,306 20,090 38,460 18,048 Debt 2,024,934 1,988,173 1,888,407 1,882,608 1,804,946 Other long-term liabilities 9,620 10,017 10,045 11,736 11,563 Liabilities, discontinued operations — 866,235 815,617 802,065 705,529 Total Liabilities $ 2,174,973 $ 3,013,210 $ 2,850,603 $ 2,843,327 $ 2,652,901 Total Stockholders' (Deficit) Equity (398,021 ) (268,373 ) (228,816 ) (54,134 ) 124,452 Total Liabilities and Stockholders' (Deficit) Equity $ 1,776,952 $ 2,744,837 $ 2,621,787 $ 2,789,193 $ 2,777,353 Table 3 - Consolidated Portfolio Performance (in thousands, except percentages, unaudited) Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Gross loans receivable Revolving LOC $ 469,041 $ 472,902 $ 461,443 $ 451,077 $ 439,117 Installment loans 785,360 754,713 748,133 803,318 765,041 Total gross loans receivable $ 1,254,401 $ 1,227,615 $ 1,209,576 $ 1,254,395 $ 1,204,158 Lending Revenue Revolving LOC $ 51,039 $ 49,483 $ 49,092 $ 49,915 $ 52,461 Installment loans 92,454 92,283 95,212 100,435 103,478 Total lending revenue $ 143,493 $ 141,766 $ 144,304 $ 150,350 $ 155,939 Lending Provision Revolving LOC $ 19,031 $ 27,089 $ 15,539 $ 29,620 $ 28,408 Installment loans 28,464 35,171 31,139 46,442 33,511 Total lending provision $ 47,495 $ 62,260 $ 46,678 $ 76,062 $ 61,919 NCOs Revolving LOC $ 22,023 $ 21,780 $ 6,234 $ 26,715 $ 24,793 Installment loans 33,342 35,483 41,078 38,168 29,783 Total NCOs $ 55,365 $ 57,263 $ 47,312 $ 64,883 $ 54,576 NCO rate (annualized)(1) Revolving LOC 18.6 % 18.7 % 5.5 % 23.8 % 20.9 % Installment loans 17.2 % 18.9 % 21.5 % 19.3 % 16.7 % Total NCO rate 17.7 % 18.8 % 15.6 % 20.9 % 18.4 % ACL rate(2) (3) Revolving LOC 25.4 % 26.6 % 25.6 % 8.4 % 7.9 % Installment loans 10.3 % 11.2 % 11.3 % 5.4 % 4.6 % Total ACL rate 15.9 % 17.1 % 16.8 % 6.5 % 5.8 % 31+ days past-due rate(2) Revolving LOC 8.6 % 8.5 % 8.4 % 4.1 % 5.1 % Installment loans 8.5 % 8.1 % 8.2 % 9.6 % 10.2 % Total past-due rate 8.5 % 8.3 % 8.3 % 7.6 % 8.3 % (1) We calculate NCO rate as total quarterly NCOs divided by Average gross loans receivable, then we annualize the rate. The amount and timing of recoveries are impacted by our collection strategies, which are based on customer behavior and risk profile and include direct customer communications and the periodic sale of charged off loans. (2) We calculate (i) ACL rate and (ii) 31+ days past-due rate as the respective totals divided by gross loans receivable at each quarter end. (3) We adopted ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" on January 1, 2023, which requires us to estimate the lifetime expected credit loss on financial instruments. Our previous model required the recognition of credit losses when it was probable that a loss had been incurred. Forward-Looking Statements This press release contains forward-looking statements. These forward-looking statements include projections, estimates and assumptions about various matters, such as future financial and operational performance, including our belief in the drivers of accelerating our path to profitability and executing on our long-term strategy. In addition, words such as “guidance,” “estimate,” “anticipate,” “believe,” “forecast,” “step,” “plan,” “predict,” “focused,” “project,” “is likely,” “expect,” "anticipate," “intend,” “should,” “will,” “confident,” variations of such words and similar expressions are intended to identify forward-looking statements. Our ability to achieve these forward-looking statements is based on certain assumptions, judgments and other factors, both within and outside of our control, that could cause actual results to differ materially from those in the forward-looking statements, including: risks relating to the uncertainty of projected financial and operational information and forecasts, including errors in our internal forecasts; our ability to manage growth; our dependence on third-party lenders to provide the cash we need to fund our loans and our ability to affordably access third-party financing; our level of indebtedness; the effects of competition on our business; our ability to attract and retain customers; global economic, market, financial, political or health conditions or events; actions of regulators and the impact of those actions on our business; our ability to successfully integrate acquired businesses; our ability to protect our proprietary technology and analytics and keep up with that of our competitors; disruption of our information technology systems that adversely affect our business operations; ineffective pricing of the credit risk of our prospective or existing customers; inaccurate information supplied by customers or third parties that could lead to errors in judging customers’ qualifications to receive loans; improper disclosure of customer personal data; failure of third parties who provide products, services or support to us; disruption to our relationships with banks and other third-party electronic payment solutions providers as well as other factors discussed in our filings with the Securities and Exchange Commission. These projections, estimates and assumptions may prove to be inaccurate in the future. These forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. There may be additional risks that we presently do not know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual future results. We undertake no obligation to update, amend or clarify any forward-looking statement for any reason. (CURO-NWS) View source version on businesswire.com:https://www.businesswire.com/news/home/20231102103454/en/ |
2024-11-02 | Marketscreener.com | Heritage Reports Third Quarter 2023 Results | TAMPA, Fla.,Nov. 2, 2023/PRNewswire/ -- Heritage Insurance Holdings, Inc. (NYSE: HRTG) ("Heritage" or the "Company"), a super-regional property and casualty insurance holding company, today reported third quarter of 2023 financial results. Third Quarter 2023 Result Highlights "Our policyholders, agents, and employees were affected by two catastrophic events this quarter. In early August, wildfires on the island ofMauicaused devastating losses, followed by Hurricane Idalia in theFloridapanhandle at the end of the month," said Heritage CEOErnie Garateix. "Our policyholders and employees affected by these events remain in our thoughts and we are steadfast in our commitment to fair and timely claims handling," Garateix emphasized. "Despite challenges in the property insurance space, including social and actual inflation, increased frequency and severity of catastrophic events, and rising reinsurance costs, I'm encouraged to report a substantial improvement in our financial position and strides toward sustained profitability. Our management team continues to drive exposure management, strengthen underwriting criteria, and work toward rate adequacy throughout our book of business. These strategic efforts are showing promising results as we have seen positive outcomes despite the catastrophe weather experienced during the quarter. Our average premium across the book of business continues to rise meaningfully, reflecting the ongoing focus on profitability." Garateix concluded, "We are in the business of catastrophe risk, and our results this quarter were impacted accordingly. Nonetheless, we maintain our focus on appropriate risk management and high-quality service for our customers. Weather events underscore the importance of our role, and we are prepared to support our clients and communities as we all work toward recovery." Strategic Profitability Initiatives The following provides an update to the Company's strategic initiatives that are expected to enable Heritage to achieve consistent long-term quarterly earnings and drive shareholder value. The Supplemental Information table included in this earnings release demonstrates progress made on these initiatives compared to the third quarter 2022. Capital Management Heritage's Board of Directors has decided to continue its suspension of the quarterly dividend to shareholders. The Board of Directors will continue to evaluate dividend distribution and stock repurchases on a quarterly basis. No shares of common stock were repurchased during the quarter. Results of Operations The following table summarizes results of operations for the three and nine months endedSeptember 30, 2023and 2022 (amounts in thousands, except percentages and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 Change 2023 2022 Change Total Revenue $ 186,300 $ 165,493 12.6 % $ 548,532 $ 487,872 12.4 % Net (loss) income $ (7,424) $ (48,240) (84.6) % $ 14,363 $ (166,864) (108.6) % (Loss) earnings per share $ (0.28) $ (1.83) (84.7) % $ 0.55 $ (6.29) (108.7) % Book value per share $ 5.65 $ 4.54 24.4 % $ 5.65 $ 4.54 24.4 % Return on equity (19.0) % (129.4) % 110.4 pts 13.6 % (96.6) % 110.2 pts Underwriting summary Gross premiums written $ 309,510 $ 304,501 1.6 % $ 1,016,378 $ 952,981 6.7 % Gross premiums earned $ 336,976 $ 307,959 9.4 % $ 984,012 $ 891,539 10.4 % Ceded premiums $ (160,335) $ (148,266) 8.1 % $ (464,539) $ (420,645) 10.4 % Net premiums earned $ 176,641 $ 159,693 10.6 % $ 519,473 $ 470,894 10.3 % Ceded premium ratio 47.6 % 48.1 % (0.5) pts 47.2 % 47.2 % 0.0 pts Ratios to Net Premiums Earned: Loss ratio 74.4 % 97.6 % (23.2) pts 64.6 % 84.4 % (19.8) pts Expense ratio 36.4 % 35.7 % 0.7 pts 35.7 % 36.3 % (0.6) pts Combined ratio 110.8 % 133.3 % (22.5) pts 100.2 % 120.7 % (20.5) pts Note: Percentages and sums in the table may not recalculate precisely due to rounding. Ratios Ceded premium ratiorepresents ceded premiums as a percentage of gross premiums earned. Net loss ratiorepresents net losses and loss adjustment expenses ("LAE") as a percentage of net premiums earned. Net expense ratiorepresents policy acquisition costs ("PAC") and general and administrative ("G&A") expenses as a percentage of net premiums earned. Ceding commission income is reported as a reduction of PAC and G&A expenses. Net combined ratiorepresents the sum of net losses and LAE, PAC and G&A expenses as a percentage of net premiums earned. The net combined ratio is a key measure of underwriting performance traditionally used in the property and casualty industry. A combined ratio under 100% generally reflects profitable underwriting results. Third Quarter 2023 Results Supplemental Information: Policies-in-force: Q3 2023 Q3 2022 % Change Florida 158,914 188,383 (15.6) % Other States 308,683 352,989 (12.6) % Total 467,597 541,372 (13.6) % Premiums-in-force: Florida $ 681,067,580 $ 569,589,537 19.6 % Other States 665,351,760 672,812,875 (1.1) % Total $ 1,346,419,340 $ 1,242,402,412 8.4 % Total Insured Value: Florida $ 104,654,005,306 $ 102,784,056,201 1.8 % Other States 290,916,611,744 304,657,398,158 (4.5) % Total $ 395,570,617,050 $ 407,441,454,359 (2.9) % Book Value Analysis Book value per share of$5.65atSeptember 30, 2023, was up 10.1% from fourth quarter 2022 and 24.4% from third quarter 2022. The increase from the comparable quarter of 2022 is primarily attributable to year-to-date net income through the third quarter of 2023 as well as a reduction in unrealized losses on the Company's fixed income securities portfolio from the third quarter of 2022. The unrealized losses are unrelated to credit risk but due to the rising interest rate environment during 2022 and 2023. Book Value Per Share As Of September 30, 2023 December 31, 2022 September 30, 2022 Numerator: Common stockholders' equity $ 151,386 $ 131,039 $ 117,697 Denominator: Total Shares Outstanding $ 26,796,586 $ 25,539,433 $ 25,898,930 Book Value Per Common Share 5.65 5.13 4.54 Conference Call Details: Friday, November 3, 2023–9:00 a.m. ETParticipant Dial-inNumbers Toll Free: 1-888-346-3095Participant International Dial In: 1-412-902-4258Canada Toll Free: 1-855-669-9657 Webcast: To listen to the live webcast, please go tohttp://investors.heritagepci.com. This webcast will be archived and accessible on the Company's website. HERITAGE INSURANCE HOLDINGS, INC. Condensed Consolidated Balance Sheets (Amounts in thousands, except share amounts) September 30, 2023 December 31, 2022 ASSETS (unaudited) Fixed maturities, available-for-sale, at fair value $ 651,520 $ 635,572 Equity securities, at fair value 1,739 1,514 Other investments, net 11,745 16,484 Total investments 665,004 653,570 Cash and cash equivalents 228,848 280,881 Restricted cash 9,733 6,691 Accrued investment income 3,725 3,817 Premiums receivable, net 80,256 92,749 Reinsurance recoverable on paid and unpaid claims, net 727,435 805,059 Prepaid reinsurance premiums 403,684 306,977 Income tax receivable 14,872 12,118 Deferred income tax asset, net 16,092 16,841 Deferred policy acquisition costs, net 104,098 99,617 Property and equipment, net 32,418 25,729 Right-of-use lease asset, finance 18,214 20,132 Right-of-use lease asset, operating 7,166 7,335 Intangibles, net 44,101 49,575 Other assets 13,060 11,509 Total Assets $ 2,368,706 $ 2,392,600 LIABILITIES AND STOCKHOLDERS' EQUITY Unpaid losses and loss adjustment expenses $ 971,321 $ 1,131,807 Unearned premiums 688,872 656,641 Reinsurance payable 282,663 199,803 Long-term debt, net 122,066 128,943 Advance premiums 33,706 26,516 Accrued compensation 8,611 6,594 Lease liability, finance 20,903 22,557 Lease liability, operating 8,439 8,690 Accounts payable and other liabilities 80,739 80,010 Total Liabilities $ 2,217,320 $ 2,261,561 Stockholders' Equity: Common stock, $0.0001 par value 3 3 Additional paid-in capital 336,829 334,711 Accumulated other comprehensive loss, net of taxes (49,719) (53,585) Treasury stock, at cost (130,900) (130,900) Retained deficit (4,827) (19,190) Total Stockholders' Equity 151,386 131,039 Total Liabilities and Stockholders' Equity $ 2,368,706 $ 2,392,600 HERITAGE INSURANCE HOLDINGS, INC. Condensed Consolidated Statements of Operations and Other Comprehensive (Loss) Income (Amounts in thousands, except share amounts) (Unaudited) For the Three Months EndedSeptember 30, For the Nine Months EndedSeptember 30, 2023 2022 2023 2022 REVENUES: Gross premiums written $ 309,510 $ 304,501 $ 1,016,378 $ 952,981 Change in gross unearned premiums 27,466 3,458 (32,366) (61,442) Gross premiums earned 336,976 307,959 984,012 891,539 Ceded premiums (160,335) (148,266) (464,539) (420,645) Net premiums earned 176,641 159,693 519,473 470,894 Net investment income 6,867 2,887 19,048 7,050 Net realized losses and impairment losses (379) (3) (49) (121) Other revenue 3,171 2,916 10,060 10,049 Total revenues 186,300 165,493 548,532 487,872 EXPENSES: Losses and loss adjustment expenses 131,397 155,849 335,495 397,409 Policy acquisition costs, net 42,427 39,194 124,202 115,826 General and administrative expenses, net 21,911 17,758 61,022 54,947 Goodwill and intangible asset impairment — — 767 91,959 Total expenses 195,735 212,801 521,486 660,141 Operating (loss) income (9,435) (47,308) 27,046 (172,269) Interest expense, net 2,591 2,027 8,211 5,750 (Loss) income before income taxes (12,026) (49,335) 18,835 (178,019) (Benefit) provision for income taxes (4,602) (1,095) 4,472 (11,155) Net (loss) income $ (7,424) $ (48,240) $ 14,363 $ (166,864) OTHER COMPREHENSIVE (LOSS) INCOME Change in net unrealized (losses) gains on investments (4,494) (17,471) 4,664 (65,403) Reclassification adjustment for net realized investmentlosses 379 3 390 121 Income tax benefit (expense) related to items of othercomprehensive (loss) income 970 4,089 (1,188) 15,282 Total comprehensive (loss) income $ (10,569) $ (61,619) $ 18,229 $ (216,864) Weighted average shares outstanding Basic 26,698,806 26,369,265 25,941,422 26,536,700 Diluted 26,698,806 26,369,265 25,980,931 26,536,700 (Loss) earnings per share Basic $ (0.28) $ (1.83) $ 0.55 $ (6.29) Diluted $ (0.28) $ (1.83) $ 0.55 $ (6.29) About Heritage Heritage Insurance Holdings, Inc. is a super-regional property and casualty insurance holding company. Through its insurance subsidiaries and a large network of experienced agents, the Company writes approximately$1.3 billionof gross personal and commercial residential premium across its multi-state footprint. Forward-Looking StatementsStatements in this press release that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," "or "continue" or the other negative variations thereof or comparable terminology are intended to identify forward-looking statements. This release includes forward-looking statements relating to the expected positive impact of our strategic initiatives on our future financial results, including focus on profitability through rating action and selective underwriting, capital allocation, exposure management and strategic reduction of policy count in certain geographies; impact of rate increases, including the ability to mitigate the expected impact of increased reinsurance costs through rate adjustments; ability to achieve consistent long-term sustainable growth and long-term quarterly earnings and drive shareholder value; continued increase in average premium per policy; future dividend payments and stock repurchases; our ability to maintain a balanced and diversified portfolio; and expectations regarding our fixed income investment portfolio. The risks and uncertainties that could cause our actual results to differ from those expressed or implied herein include, without limitation: the success of the Company's underwriting and profitability initiatives; inflation and other changes in economic conditions (including changes in interest rates and financial and real estate markets), including changes that may impact demand for our products and our operations; the impact of macroeconomic and geopolitical conditions, including the impact of supply chain constraints, inflationary pressures, labor availability and the conflict betweenRussiaandUkraine; the impact of new federal and state regulations that affect the property and casualty insurance market; the cost of reinsurance, the collectability of reinsurance and our ability to obtain reinsurance coverage on terms and at a cost acceptable to us; assessments charged by various governmental agencies; pricing competition and other initiatives by competitors; our ability to obtain regulatory approval for requested rate changes, and the timing thereof; legislative and regulatory developments; the outcome of litigation pending against us, including the terms of any settlements; risks related to the nature of our business; dependence on investment income and the composition of our investment portfolio; the adequacy of our liability for losses and loss adjustment expense; our ability to build and maintain relationships with insurance agents; claims experience; ratings by industry services; catastrophe losses; reliance on key personnel; weather conditions (including the severity and frequency of storms, hurricanes, tornadoes and hail); changes in loss trends; acts of war and terrorist activities; court decisions and trends in litigation; and other matters described from time to time by us in our filings with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Report on Form 10-K for the year endedDecember 31, 2022filed with the Securities and Exchange Commission onMarch 13, 2023, and subsequent filings. The Company undertakes no obligations to update, change or revise any forward-looking statement, whether as a result of new information, additional or subsequent developments or otherwise. Investor Investor Contact:Kirk LuskChief Financial Officerklusk@heritagepci.cominvestors@heritagepci.com Mike Houstonand Zack MukewaLambertHRTG@lambert.com View original content to download multimedia:https://www.prnewswire.com/news-releases/heritage-reports-third-quarter-2023-results-301976335.html SOURCE Heritage Insurance Holdings, Inc. |
2024-11-02 | Marketscreener.com | Holly Energy Partners, L.P. Reports Third Quarter Results | Holly Energy Partners, L.P. ("HEP") (NYSE: HEP) today reported financial results for the third quarter of 2023. Net income attributable to HEP for the third quarter of 2023 was $63.0 million ($0.50 per basic and diluted limited partner unit), compared to $42.0 million ($0.33 per basic and diluted limited partner unit) for the third quarter of 2022. Results for the third quarters of 2023 and 2022 reflect reductions to our equity in earnings of equity method investments of $4.3 million and $20.3 million, respectively, for HEP's 50% share of incurred and estimated environmental remediation and recovery expenses and estimated fines and penalties, net of insurance proceeds received, associated with a release of crude oil on the Osage Pipe Line Company, LLC ("Osage") pipeline that occurred on July 8, 2022. Excluding these reductions, net income attributable to HEP for the third quarters of 2023 and 2022 was $67.3 million ($0.53 per basic and diluted limited partner unit) and $62.2 million ($0.49 per basic and diluted limited partner unit), respectively. The increase in net income attributable to HEP in the third quarter of 2023 was mainly due to higher revenues associated with tariff increases that went into effect on July 1, 2023, partially offset by higher interest expense and higher general and administrative expenses. Distributable cash flow was $78.5 million for the third quarter of 2023, a decrease of $0.3 million, or 0.3%, compared to the third quarter of 2022. HEP declared a quarterly cash distribution of $0.35 per unit on October 19, 2023. Commenting on our 2023 third quarter results, Michael Jennings, Chief Executive Officer and President, stated, “HEP generated solid results during the quarter, supported by safe and reliable operations and strong volumes across our transportation and storage systems. We also announced a quarterly distribution of $0.35 per unit to be paid on November 10, 2023 to unitholders of record on October 30, 2023.” Third Quarter 2023 Revenue Highlights Revenues for the third quarter of 2023 were $158.4 million, an increase of $9.4 million compared to the third quarter of 2022. The increase was mainly due to tariff increases that went into effect on July 1, 2023 as well as more customer billings recognized as revenue rather than interest income under sales-type lease accounting. Nine Months Ended September 30, 2023 Revenue Highlights Revenues for the nine months ended September 30, 2023 were $441.4 million, an increase of $36.4 million compared to the nine months ended September 30, 2022. The increase was mainly attributable to revenues from our Sinclair Transportation assets acquired on March 14, 2022, higher revenues on our Woods Cross refinery processing units, which were down for a scheduled turnaround in March 2022, and rate increases that went into effect on July 1, 2023, partially offset by lower revenues on our product pipelines servicing HF Sinclair's Navajo refinery. Operating Costs and Expenses Highlights Operating costs and expenses were $90.7 million and $256.7 million for the three and nine months ended September 30, 2023, respectively, representing increases of $1.3 million and $12.6 million from the three and nine months ended September 30, 2022, respectively. The nine-month increase was mainly due to operating costs and expenses associated with the acquired Sinclair Transportation assets as well as higher employee costs, partially offset by lower natural gas costs. Interest Expense and Interest Income Highlights Interest expense was $27.3 million and $79.7 million for the three and nine months ended September 30, 2023, respectively, representing increases of $4.3 million and $22.8 million from the three and nine months ended September 30, 2022, respectively. The increases were mainly due to higher interest rates on our long-term debt due to market interest rate increases on our senior secured revolving credit facility and our April 2022 issuance of $400 million in aggregate principal amount of 6.375% senior unsecured notes maturing in April 2027, the proceeds of which were used to partially repay outstanding borrowings under our senior secured credit facility following the funding of the cash portion of the Sinclair Transportation acquisition. Interest income for the three and nine months ended September 30, 2023 totaled $20.3 million and $61.1 million, representing decreases of $3.9 million and $0.2 million compared to the three and nine months ended September 30, 2022, respectively. The decreases were mainly due to more pipeline tariffs recognized as revenue rather than interest income under sales-type lease accounting. HEP and HF Sinclair have scheduled a joint webcast conference on November 2, 2023 at 9:30 a.m. Eastern time to discuss financial results. This webcast may be accessed at: https://events.q4inc.com/attendee/172908001 An audio archive of this webcast will be available using the above noted link through November 16, 2023. About Holly Energy Partners, L.P. Holly Energy Partners, L.P. (“HEP” or the “Partnership”), headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including subsidiaries of HF Sinclair Corporation ("HF Sinclair"). The Partnership, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude pipelines, tankage and terminals in Colorado, Idaho, Iowa, Kansas, Missouri, Nevada, New Mexico, Oklahoma, Texas, Utah, Washington and Wyoming, as well as refinery processing units in Kansas and Utah. HF Sinclair, headquartered in Dallas, Texas, is an independent energy company that produces and markets high value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. HF Sinclair owns and operates refineries located in Kansas, Oklahoma, New Mexico, Washington, Wyoming and Utah and markets its refined products principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. HF Sinclair supplies high-quality fuels to more than 1,500 branded stations and licenses the use of the Sinclair brand at more than 300 additional locations throughout the country. In addition, subsidiaries of HF Sinclair produce and market base oils and other specialized lubricants in the U.S., Canada and the Netherlands, and export products to more than 80 countries. Through its subsidiaries, HF Sinclair produces renewable diesel at two of its facilities in Wyoming and also at its facility in Artesia, New Mexico. HF Sinclair also owns a 47% limited partner interest and a non-economic general partner interest in HEP. The statements in this press release contain various "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. When used in this press release, words such as “anticipate,” “project,” “expect,” “will,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may,” and similar expressions and statements regarding our plans and objectives for future operations are intended to identify forward-looking statements. These forward-looking statements are based on our beliefs and assumptions and those of our general partner using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in our filings with the Securities and Exchange Commission (the “SEC”). Although we and our general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither we nor our general partner can give assurance that our expectations will prove to be correct. All statements concerning our expectations for future results of operations are based on forecasts for our existing operations and do not include the potential impact of any future acquisitions. Our forward-looking statements are subject to a variety of risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, projected or expected. Certain factors could cause actual results to differ materially from results anticipated in the forward-looking statements or affect our unit price. These factors include, but are not limited to: The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. RESULTS OF OPERATIONS (Unaudited) Income, Distributable Cash Flow and Volumes The following tables present income, distributable cash flow and volume information for the nine months ended September 30, 2023 and 2022. Three Months Ended September 30, Change from 2023 2022 2022 (In thousands, except per unit data) Revenues Pipelines: Affiliates – refined product pipelines $ 25,972 $ 24,731 $ 1,241 Affiliates – intermediate pipelines 9,059 7,988 1,071 Affiliates – crude pipelines 25,540 23,169 2,371 60,571 55,888 4,683 Third parties – refined product pipelines 8,640 6,694 1,946 Third parties – crude pipelines 15,831 14,565 1,266 85,042 77,147 7,895 Terminals, tanks and loading racks: Affiliates 43,722 39,557 4,165 Third parties 4,602 4,875 (273 ) 48,324 44,432 3,892 Refinery processing units - Affiliates 24,994 27,423 (2,429 ) Total revenues 158,360 149,002 9,358 Operating costs and expenses Operations (exclusive of depreciation and amortization) 58,422 60,470 (2,048 ) Depreciation and amortization 24,362 25,236 (874 ) General and administrative 7,947 3,751 4,196 90,731 89,457 1,274 Operating income 67,629 59,545 8,084 Equity in earnings of equity method investments 3,581 (16,334 ) 19,915 Interest expense, including amortization (27,285 ) (22,965 ) (4,320 ) Interest income 20,294 24,234 (3,940 ) Gain on sale of assets and other 708 494 214 (2,702 ) (14,571 ) 11,869 Income before income taxes 64,927 44,974 19,953 State income tax expense (16 ) (38 ) 22 Net income 64,911 44,936 19,975 Allocation of net income attributable to noncontrolling interests (1,886 ) (2,985 ) 1,099 Net income attributable to Holly Energy Partners $ 63,025 $ 41,951 $ 21,074 Limited partners’ earnings per unit – basic and diluted $ 0.50 $ 0.33 $ 0.17 Weighted average limited partners’ units outstanding 126,440 126,440 — EBITDA(1) $ 94,394 $ 65,956 $ 28,438 Adjusted EBITDA(1) $ 118,514 $ 110,092 $ 8,422 Distributable cash flow(2) $ 78,465 $ 78,731 $ (266 ) Volumes (bpd) Pipelines: Affiliates – refined product pipelines 152,541 167,618 (15,077 ) Affiliates – intermediate pipelines 107,019 137,049 (30,030 ) Affiliates – crude pipelines 426,418 507,419 (81,001 ) 685,978 812,086 (126,108 ) Third parties – refined product pipelines 33,549 38,040 (4,491 ) Third parties – crude pipelines 204,970 131,622 73,348 924,497 981,748 (57,251 ) Terminals and loading racks: Affiliates 761,956 583,089 178,867 Third parties 40,440 37,782 2,658 802,396 620,871 181,525 Refinery processing units - Affiliates 67,192 72,065 (4,873 ) Total for pipelines and terminal assets (bpd) 1,794,085 1,674,684 119,401 Nine Months Ended September 30, Change from 2023 2022 2022 (In thousands, except per unit data) Revenues Pipelines: Affiliates – refined product pipelines $ 64,092 $ 62,511 $ 1,581 Affiliates – intermediate pipelines 25,659 23,015 2,644 Affiliates – crude pipelines 70,872 62,417 8,455 160,623 147,943 12,680 Third parties – refined product pipelines 24,288 21,169 3,119 Third parties – crude pipelines 41,731 41,134 597 226,642 210,246 16,396 Terminals, tanks and loading racks: Affiliates 121,039 108,997 12,042 Third parties 19,303 17,008 2,295 140,342 126,005 14,337 Refinery processing units - Affiliates 74,425 68,719 5,706 Total revenues 441,409 404,970 36,439 Operating costs and expenses Operations 163,706 156,994 6,712 Depreciation and amortization 74,922 74,397 525 General and administrative 18,094 12,745 5,349 256,722 244,136 12,586 Operating income 184,687 160,834 23,853 Equity in earnings of equity method investments 11,008 (7,261 ) 18,269 Interest expense, including amortization (79,711 ) (56,951 ) (22,760 ) Interest income 61,050 61,212 (162 ) Gain on sale of assets and other 983 640 343 (6,670 ) (2,360 ) (4,310 ) Income before income taxes 178,017 158,474 19,543 State income tax expense (18 ) (83 ) 65 Net income 177,999 158,391 19,608 Allocation of net income attributable to noncontrolling interests (7,223 ) (10,089 ) 2,866 Net income attributable to Holly Energy Partners $ 170,776 $ 148,302 $ 22,474 Limited partners’ earnings per unit—basic and diluted $ 1.35 $ 1.22 $ 0.13 Weighted average limited partners’ units outstanding 126,440 120,902 5,538 EBITDA(1) $ 264,377 $ 218,521 $ 45,856 Adjusted EBITDA(1) $ 330,591 $ 299,673 $ 30,918 Distributable cash flow(2) $ 235,648 $ 221,643 $ 14,005 Volumes (bpd) Pipelines: Affiliates – refined product pipelines 144,082 138,608 5,474 Affiliates – intermediate pipelines 108,579 126,550 (17,971 ) Affiliates – crude pipelines 429,965 460,641 (30,676 ) 682,626 725,799 (43,173 ) Third parties – refined product pipelines 38,702 41,646 (2,944 ) Third parties – crude pipelines 196,552 133,598 62,954 917,880 901,043 16,837 Terminals and loading racks: Affiliates 710,905 534,305 176,600 Third parties 44,263 40,923 3,340 755,168 575,228 179,940 Refinery processing units - Affiliates 60,131 69,903 (9,772 ) Total for pipelines and terminal assets (bpd) 1,733,179 1,546,174 187,005 (1) Earnings before interest, taxes, depreciation and amortization (“EBITDA”) is calculated as net income attributable to Holly Energy Partners plus or minus (i) interest expense, (ii) interest income, (iii) state income tax expense and (iv) depreciation and amortization. Adjusted EBITDA is calculated as EBITDA plus or minus (i) our share of Osage environmental remediation costs included in equity in earnings of equity method investments, (ii) acquisition integration and regulatory costs, (iii) tariffs and fees not included in revenues due to impacts from lease accounting for certain tariffs and fees and (iv) pipeline lease payments not included in operating costs and expenses. Portions of our minimum guaranteed tariffs for assets subject to sales-type lease accounting are recorded as interest income with the remaining amounts recorded as a reduction in net investment in leases. Similarly, certain pipeline lease payments were previously recorded as operating costs and expenses, but the underlying lease was reclassified from an operating lease to a financing lease, and these payments are now recorded as interest expense and reductions in the lease liability. EBITDA and Adjusted EBITDA are not calculations based upon generally accepted accounting principles ("GAAP"). However, the amounts included in the EBITDA and Adjusted EBITDA calculations are derived from amounts included in our consolidated financial statements. EBITDA and Adjusted EBITDA should not be considered as alternatives to net income attributable to Holly Energy Partners or operating income, as indications of our operating performance or as alternatives to operating cash flow as a measure of liquidity. EBITDA and Adjusted EBITDA are not necessarily comparable to similarly titled measures of other companies. EBITDA and Adjusted EBITDA are presented here because they are widely used financial indicators used by investors and analysts to measure performance. EBITDA and Adjusted EBITDA are also used by our management for internal analysis and as a basis for compliance with financial covenants. Set forth below is our calculation of EBITDA and Adjusted EBITDA. Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) Net income attributable to Holly Energy Partners $ 63,025 $ 41,951 $ 170,776 $ 148,302 Add (subtract): Interest expense 27,285 22,965 79,711 56,951 Interest income (20,294 ) (24,234 ) (61,050 ) (61,212 ) State income tax expense 16 38 18 83 Depreciation and amortization 24,362 25,236 74,922 74,397 EBITDA 94,394 65,956 264,377 218,521 Share of Osage environmental remediation costs 69 20,297 1,289 20,297 Acquisition integration and regulatory costs 4,285 373 5,757 2,095 Tariffs and fees not included in revenues 21,372 25,072 63,987 63,579 Lease payments not included in operating costs (1,606 ) (1,606 ) (4,819 ) (4,819 ) Adjusted EBITDA $ 118,514 $ 110,092 $ 330,591 $ 299,673 (2) Distributable cash flow is not a calculation based upon GAAP. However, the amounts included in the calculation are derived from amounts presented in our consolidated financial statements, with the general exception of maintenance capital expenditures. Distributable cash flow should not be considered in isolation or as an alternative to net income attributable to Holly Energy Partners or operating income, as an indication of our operating performance, or as an alternative to operating cash flow as a measure of liquidity. Distributable cash flow is not necessarily comparable to similarly titled measures of other companies. Distributable cash flow is presented here because it is a widely accepted financial indicator used by investors to compare partnership performance. It is also used by management for internal analysis and our performance units. We believe that this measure provides investors an enhanced perspective of the operating performance of our assets and the cash our business is generating. Set forth below is our calculation of distributable cash flow. Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (In thousands) Net income attributable to Holly Energy Partners $ 63,025 $ 41,951 $ 170,776 $ 148,302 Add (subtract): Depreciation and amortization 24,362 25,236 74,922 74,397 Amortization of discount and deferred debt charges 1,088 1,060 3,241 2,863 Customer billings greater than net income recognized 2,138 (587 ) 11,908 34 Maintenance capital expenditures(3) (5,859 ) (4,679 ) (13,597 ) (15,262 ) Increase (decrease) in environmental liability (1,550 ) 5,364 (2,553 ) 5,120 Share of Osage insurance coverage — 12,500 500 12,500 Reimbursable deferred revenue (3,620 ) (3,538 ) (12,534 ) (10,127 ) Other (1,119 ) 1,424 2,985 3,816 Distributable cash flow $ 78,465 $ 78,731 $ 235,648 $ 221,643 (3) Maintenance capital expenditures are capital expenditures made to replace partially or fully depreciated assets in order to maintain the existing operating capacity of our assets and to extend their useful lives. Maintenance capital expenditures include expenditures required to maintain equipment reliability, tankage and pipeline integrity, safety and to address environmental regulations. Set forth below is certain balance sheet data. September 30, December 31, 2023 2022 (In thousands) Balance Sheet Data Cash and cash equivalents $ 11,223 $ 10,917 Working capital $ 15,594 $ 17,293 Total assets $ 2,707,434 $ 2,747,502 Long-term debt $ 1,468,505 $ 1,556,334 Partners' equity $ 896,066 $ 857,126 View source version on businesswire.com:https://www.businesswire.com/news/home/20231102867247/en/ |
2024-11-02 | Marketscreener.com | Qples by Fobi Announces 77% Sales Growth YoY with Increased Momentum From Media Solutions, AI (8112) Coupons, & New API Integration | Qples continues to drive momentum in the shopper marketing industry, presenting at the ACP Conference and announcing a new API integration. VANCOUVER, BC, Nov. 02, 2023 (GLOBE NEWSWIRE) --Fobi AI Inc. (FOBI:TSXV) (FOBIF:OTCQB)(the "Company" or "Fobi"), an industry leader in harnessing AI and data intelligence to enable digital transformation, is pleased to provide shareholders with the following corporate update regarding the Company’s subsidiary, Qples. QPLES DIGITAL MEDIA SOLUTIONS CONTINUE TO DRIVE REVENUE, EXPANDING QPLES’ BRAND PRESENCE IN SHOPPER MARKETING Qples continues to successfully expand its presence in the shopper marketing industry, experiencing a 77% increase in year-over-year (YoY) sales growth since the official launch of its media platform in late 2022. The Qples media platform offers mobile advertising solutions that enable retailers and CPG brands to track in-store attribution and ROI of their media campaigns, helping them better understand customer preferences and subsequently deliver more targeted and personalized experiences. As the digital marketing landscape evolves, including increasing demand for AI (8112) Universal Digital Coupons, Qples has strategically focused on growing the digital media segment of its business to reach modern-day customers effectively, presenting the most relevant promotions and coupons wherever they shop. QPLES PRESENTS AI (8112) CONSUMER EXPERIENCE AT ACP INDUSTRY COUPON CONFERENCE 2023 In September, Qples participated in a Q&A panel at the Association for Coupons & Promotions’ (previously Association for Coupon Professionals) annual Industry Coupon Conference to discuss the development of AI (8112) Universal Digital Coupons and how they work for customers. As one of three companies selected to present on the AI (8112) user experience, Qples distinguishes itself as the only solution provider to deliver coupons via web browser, in-app, native wallet, and print. These diverse delivery options enable Qples to offer the most versatility in the coupon market, positioning Qples as a leading coupon provider that is making business as easy as possible for retailers and CPG brands. QPLES ANNOUNCES NEW API INTEGRATION SET TO REVOLUTIONIZE THE DIGITAL COUPON LANDSCAPE Qples is currently negotiating several new partnerships to introduce a new Discovery API that will help brands further leverage Qples’ digital coupon capabilities and inventory. The new API is designed to cater to businesses that seek access to digital coupons but often lack the infrastructure to create and distribute these coupons to their customers. Unlike other solution providers in the market who are limited to in-app discovery and redemption methods, clients using Qples' new Discovery API will be able to achieve enhanced coupon creation and distribution by distributing coupons directly to their consumers within their own apps. In providing access to all of Qples’ public offers and promotions, the Discovery API will empower brands to maximize their shopper budgets and distribute coupons to customers at the right time and place, creating an even more seamless coupon experience. Eddy Watson, President of Qples, states:"I am so proud of how hard our team has worked with the expansion of Qples in the shopper marketing segment. As AI (8112) continues to grow, we have focused heavily on providing more capabilities and options that help our clients deliver coupons in an ever-evolving world, making business as easy as possible for them. With the combination of our new Discovery API, digital media, and new AI (8112) capabilities, marketers can finally see a full end-to-end journey of their customers." Rob Anson, CEO of Fobi AI, highlights the fast-paced evolution of mobile industry practices and standards, especially with regard to the AI (8112) digital format: “Qples has consistently achieved impressive growth numbers. We commend Eddy and the Qples team for once again being at the forefront of driving innovation that brings exceptional value to their customers, partners, and, of course, our company and its shareholders.” For more information on Qples and 8112 Digital Coupons, please visit theQples Website. This press release is available on theFobi website. To download the Fobi Investor Experience Wallet Pass to get enhanced access to investor information about Fobi, please visit ourInvestor Experience page. About FobiFounded in 2017 in Vancouver, Canada, Fobi is a leading AI and data intelligence company that provides businesses with real-time applications to digitally transform and future-proof their organizations. Fobi enables businesses to action, leverage, and monetize their customer data by powering personalized and data-driven customer experiences and drives digital sustainability by eliminating the need for paper and reducing unnecessary plastic waste at scale. Fobi works with some of the largest global organizations across retail & CPG, insurance, sports & entertainment, casino gaming, and more. Fobi is a recognized technology and data intelligence leader across North America and Europe, and is the largest data aggregator in Canada's hospitality & tourism industry. For more information, please contact: This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Fobi's business and technology; the ability of Fobi to engage with industry participants to achieve its goals; the development of Fobi's technology; and the viability of Fobi's business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Fobi's control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Fobi believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity, or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Fobi does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Fobi should be considered highly speculative. There can be no assurance that Fobi will be able to achieve all or any of its proposed objectives. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. |
2024-11-02 | GlobeNewswire | New to The Street’s Client Loyalty Shines: 9 Clients Recommit for Monthly Media Series Throughout 2024! | NEW YORK, Nov. 02, 2023 (GLOBE NEWSWIRE) -- FMW Media Work'sNew to The Streetbusiness show announces that in the past 30-days, nine (9) companies recommitted for monthly media series throughout 2024. These companies will appear on New to Street's major cable network outlets. Additionally, digital billboard ads will stream in key locations in New York City, and shows will air TV commercials regarding goods and services indicative of each of these nine companies. New to The Street's TV anchors will continue to interview key corporate representatives who will share their corporate milestones and events with viewers. All broadcasted shows will stream on the New to The Street website,www.newtothestreet.com. The New to The Street's social media team and television network partners will reshare media content, creating a platform to educate televised viewers and others about these Companies. Reliance Global Group, Inc.(NASDAQ: RELI) (NASDAQ: RELIW) ($RELI),Vector Space Biosciences, Inc.(SBIO), andPressure BioSciences, Inc.(OTCQB: PBIO) ($PBIO) are part of the nine Companies that will be on the show in 2024. The remaining companies will publish individually their announcements regarding their media relationship with New to The Street. Vince Caruso, Co-Founder/CEO of FMW Media Corp. and the Creator/Producer ofNew to The Street, states, "Signing nine (9) repeat clients for an extended media series is a testament to the effectiveness of our TV broadcasts and advertising efforts. Our marketing and content strategies have resonated with the public and private company clients and their target audience, leading to their continued partnership and investment in their media series." Before each broadcast, New to The Street will announce each televised event with a press release providing show details and cable network airings' times and dates. AboutNew to The Street: New to The Street is an FMW Media production that operates one of the longest-running US and International sponsored and syndicated Nielsen-rated programming television brands, "New to The Street". Since 2009, New to The Street has run biographical interview segment shows across major U.S. television networks. The Nielsen Rated and sponsored broadcasts programming platform reaches millions of homes in the US and international markets. FMW's New to The Street show appears onBloombergand theFOX Business Networkas sponsored programming. FMW is also one of the nation's largest buyers of linear television, long and short-form paid programming -https://www.newtothestreet.com/&https://www.youtube.com/watch?v=4-G2--mRQUw&t=14s. AboutReliance Global Group, Inc.(NASDAQ: RELI) (NASDAQ: RELIW) ($RELI) Reliance Global Group, Inc.(NASDAQ: RELI) (NASDAQ: RELIW) ($RELI), an InsurTech pioneer, is working to transform the traditional insurance agency model by combining artificial intelligence (AI) with the personalized experience of a traditional insurance agency model. Reliance Global Group's growth strategy includes organic expansion of its current portfolio of agencies and the growth of bothRELI Exchange, its B2B InsurTech platform and agency partner network for insurance agents and agencies, designed to give independent agents an entire suite of business development tools and the ability to effectively compete with national agencies, and5MinuteInsure.com, its online business-to-consumer platform that utilizes artificial intelligence and data mining, to provide competitive insurance quotes in approximately 5 minutes. Additional information about the Company is available athttps://www.relianceglobalgroup.com/. AboutVector Space Biosciences, Inc.: Vector Space Biosciences, Inc. (SBIO), the parent company of Vectorspace AI(VXV), and its scientific collaborators design, develop, and launch biological CubeSats to generate and interpret unique datasets related to microgravity and radiation. This leads to the development of countermeasures against diseases associated with stressors connected to protecting and repairing the human body during spaceflight. This includes using a network of scientific data engineering pipelines to build targeted language models resulting in real-time datasets that power Artificial Intelligence (AI) operations in space biosciences, biotechnology, and pharmaceutical development. Working with leading scientific labs in human aging, cancer, and nutrigenomics, the Company's goal is to accelerate the process of new hypothesis generation and novel discoveries in space biosciences, including materials sciences in nanotechnology and nanomedicines. Developing advanced large and small language modeling/AI technologies, our platform can produce more than 100,000,000,000 different real-time datasets to accelerate discoveries. Innovations in space biosciences result in products and services for all industries, including the financial markets, and more importantly, new forms of precision medicine for all humankind -vectorspacebio.science. AboutPressure BioSciences, Inc. (OTCQB: PBIO) ($PBIO): Pressure BioSciences, Inc.(OTCQB: PBIO) ($PBIO) is a global leader in providing innovative, broadly enabling, high-pressure-based solutions for a range of industries, including biotechnology, pharmaceutical, nutraceutical, cosmeceutical, and agrochemical, as well as food and beverage manufacturing. The Company's products utilize both constant and alternating pressure. Its patented Pressure Cycling Technology (PCT) utilizes alternating cycles of pressure to control bio-molecular interactions (such as cell lysis and biomolecule extraction) safely and reproducibly. PCT-based products are beginning to be widely used for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, soil & plant biology, forensics, and counter-bioterrorism applications. PBIO recently expanded its market opportunities by acquiring the BaroFold™ patented technology platform, allowing us to enter the bio-pharma contract services and GMP manufacturing equipment sector. The Company also developed the scalable and high-efficiency pressure-based UltraShear Technology™ (UltraShear™) platform, which creates stable nanoemulsions of otherwise immiscible fluids. It also allows for preparing higher quality, homogenized, extended shelf-life or room temperature-stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies. Management's commitment to innovation and cutting-edge technology has established PBIO as a leader in the high-pressure industry, providing unique and effective solutions to our customers -https://www.pressurebiosciences.com/. Forward-Looking Statements Disclaimer US/Canada: This press release contains forward-looking statements within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology. However, not all forward-looking statements contain these words. Forward-looking statements do not guarantee future performance or results and will not necessarily be accurate indications of when such performance or results are achieved. This press release should be considered in all filings of the Companies contained in the Edgar Archives of the Securities and Exchange Commission atwww.sec.gov. This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," "likely," and "intend" and statements that an event or result "may," "will," "should," "could" or "might" occur or be achieved and other similar expressions. These statements reflect management's current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding agents that join Real. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. CONTACT: FMW Media Contact:Monica Brennanmonica@NewtoTheStreet.com1-917-330-2564 "New to The Street" Business Development Office1-516-696-5900Support@NewToTheStreet.com A photo accompanying this announcement is available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/7c288405-b8e0-4745-8d81-2a05fad11e2a A video accompanying this announcement is available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/1f7613e4-8091-48db-a19c-b6a30fef14ca |
2024-11-02 | GlobeNewswire | New study reveals cost-savings and safety benefits to eco-driving | OTTAWA, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The Traffic Injury Research Foundation (TIRF) has releasedQuantifying the Benefits of Eco-Driving for Transportation Employers, reporting the results from a 2022 study conducted with funding fromNatural Resources Canada. The study explored whether adopting an eco-driving style reduces crash risk and leads to savings in the operational costs of transportation companies. Four commercial companies participated in the study which included 2,604 drivers and 341,391,038 kilometres of driving exposure. The literature reviewed in the study showed that eco-driving can lead to fuel cost savings of up to 15%. Additionally, the use of an in-vehicle monitoring system which provides real-time feedback to drivers can significantly reduce the risk of traffic collisions. Of benefit to both the trucking industry and consumers is how this practice can improve safety and reduce insurance costs by preventing collisions. “Two of the most significant costs affecting the bottom line of every transportation company are the amount of fuel used per trip and insurance premiums,” shares Craig Lyon, TIRF Director, Road Safety Engineering. “These costs have grown extensively for the transportation industry in the past decade.” As the price of fuel continues to climb considerably in response to world events, increases in operational costs for the transportation industry are passed along to consumers and households who are already dealing with high costs for fuel, food and housing. These rising prices have also significantly affected the cost of insurance for fleets, with more insurers dramatically adjusting pricing for even minor collisions. With Canada’s road network consisting of almost 900,000 kilometres and more than 90% of goods delivered by truck, even small fluctuations in fuel prices can significantly impact the operational costs of transportation companies. In response to these pressures, transportation industry employers can manage and reduce fuel and collision costs to not only improve their bottom line but also to remain competitive in the marketplace. The study results revealed that eco-driving was associated with the following reductions: “One simple yet effective strategy to improve fuel economy in commercial vehicle fleets is to modify driving styles; notably, in terms of selected speeds, smooth driving, and route choice,” adds Milad Delavary, TIRF Research Associate and Ph.D. candidate. “Not only can this practice reduce fuel consumption and emissions, but it also delivers safety benefits for fleet operators which can ultimately increase productivity, reduce crashes, and lower insurance premiums.” Download the report and fact sheet: About TIRF Canada: The vision of the Traffic Injury Research Foundation (TIRF) is to ensure people using roads make it home safely every day by eliminating road deaths, serious injuries and their social costs. TIRF’s mission is to be the knowledge source for safe road users and a world leader in research, program and policy development, evaluation, and knowledge transfer. TIRF is a registered charity and depends on grants, awards, and donations to provide services for the public. Visitwww.tirf.caor find all TIRF websites and social media atlinktr.ee/tirfcanada. For more information, please contact: Karen BowmanDirector, Communications & ProgramsTraffic Injury Research Foundation613-238-5235 (office)1-877-238-5235 (toll-free)tirf@tirf.ca/karenb@tirf.ca Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/753ccfc1-01ff-4000-bbdd-8efbda68fe91 https://www.globenewswire.com/NewsRoom/AttachmentNg/b6df8416-fa2f-4cb6-945a-d890534cd112 |
2024-11-02 | GlobeNewswire | KBW Ranks No. 1 Across Multiple Categories in 2023 Institutional Investor All-America Survey | NEW YORK, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods (KBW), a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF), has been ranked the No. 1 firm across multiple categories in the 2023Institutional Investor(II) All-America survey. KBW’s Midcap Banks research franchise, at the core of the firm’s equities platform, was voted No. 1 in the II survey, and KBW’s Consumer Finance research team also placed first. KBW’s sales and corporate access teams ranked No. 1 in the Financial Institutions Group (FIG) sector, and KBW also had the top-ranked trading/execution team within FIG, in the first such category ever included by II. KBW is the only specialist firm to rank first in any of the sales, trading/execution, and corporate access categories across the II survey, let alone all three. KBW’s other notable 2023 rankings include: “KBW’s strong performance in the latestInstitutional Investorrankings underscores the returns we are seeing from ongoing investments made across our entire Equities Group,” said Thomas B. Michaud, President and CEO of KBW. “It is my pleasure to congratulate each of our top-ranked research teams and analysts, as well as our top-ranked sales, trading, and corporate access teams, for receiving such widespread accolades in this year’s II survey.” KBW provides in-depth equity research coverage of more global financial institutions than any other U.S. investment bank. In addition to individual company research, the KBW team also offers crucial insights into the evolution of the global financial sector as it relates to technology, regulation, macroeconomics, and market structure. “KBW research has a continuous focus on providing differentiated, thought-leading insights for our clients,” added Matthew Kelley, Head of U.S. Equities and Director of Research at KBW. “Our industry leadership has been on full display during the ongoing volatile backdrop for financial services in 2023, and we appreciate the recognition of our efforts in this survey.” The II 2023 All-America survey results reflect the opinion of 4,218 portfolio managers and analysts at 1,667 institutions. KBW InformationKBW LLC, a Stifel company, operates in the U.S. and Europe through its broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc. and Stifel Nicolaus Europe Limited (“SNEL”), also trading as Keefe, Bruyette & Woods Europe (“KBW Europe”). Over the years, KBW has established itself as a leading authority in the banking, insurance, brokerage, asset management, mortgage banking, fintech and specialty finance sectors. Founded in 1962, the firm maintains industry-leading positions in the areas of research, corporate finance, and mergers and acquisitions as well as sales and trading in equities securities of financial services companies. StifelCompanyInformationStifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners and Miller Buckfire business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website atwww.stifel.com. For global disclosures, please visithttps://www.stifel.com/investor-relations/press-releases. Media Contact:Neil Shapiro, (+1 212) 271-3447shapiron@stifel.com |
2024-11-02 | ETF Daily News | Norwegian Cruise Line (NYSE:NCLH) Issues Earnings Results | Norwegian Cruise Line (NYSE:NCLH–Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.61 by $0.15,Briefing.comreports. Norwegian Cruise Line had a negative net margin of 11.88% and a negative return on equity of 863.25%. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the previous year, the company posted ($0.70) EPS. Norwegian Cruise Line’s revenue was up 57.0% on a year-over-year basis. NYSE:NCLHopened at $13.10 on Thursday. The firm has a market capitalization of $5.57 billion, a PE ratio of -6.49 and a beta of 2.57. Norwegian Cruise Line has a 1 year low of $11.76 and a 1 year high of $22.75. The company has a current ratio of 0.32, a quick ratio of 0.29 and a debt-to-equity ratio of 788.03. The firm’s fifty day simple moving average is $15.80 and its 200 day simple moving average is $17.12. NCLH has been the topic of a number of recent research reports. Truist Financial lowered their target price on Norwegian Cruise Line from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, September 19th. Redburn Atlantic upgraded Norwegian Cruise Line from a “neutral” rating to an “overweight” rating and set a $25.00 price target for the company in a report on Thursday, September 14th. Wells Fargo & Company dropped their price objective on Norwegian Cruise Line from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, October 24th. Redburn Partners upgraded shares of Norwegian Cruise Line from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Thursday, September 14th. Finally, Barclays decreased their target price on shares of Norwegian Cruise Line from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.68. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRead Our Latest Report on NCLH Institutional investors and hedge funds have recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Norwegian Cruise Line by 5.5% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 15,101 shares of the company’s stock worth $172,000 after purchasing an additional 782 shares during the period. Mercer Global Advisors Inc. ADV increased its position in Norwegian Cruise Line by 6.5% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 13,554 shares of the company’s stock worth $182,000 after buying an additional 826 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of Norwegian Cruise Line by 4.2% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 22,756 shares of the company’s stock valued at $279,000 after acquiring an additional 910 shares during the period. Advisory Services Network LLC boosted its position in shares of Norwegian Cruise Line by 12.6% in the first quarter. Advisory Services Network LLC now owns 8,307 shares of the company’s stock valued at $112,000 after acquiring an additional 928 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of Norwegian Cruise Line by 3.3% in the first quarter. Advisors Asset Management Inc. now owns 29,665 shares of the company’s stock worth $649,000 after acquiring an additional 944 shares during the last quarter. Institutional investors and hedge funds own 60.49% of the company’s stock. (Get Free Report) Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. The company operates the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. It offers itineraries ranging from three days to a 180-days calling on various locations, including destinations in Scandinavia, Russia, the Mediterranean, the Greek Isles, Alaska, Canada and New England, Hawaii, Asia, Tahiti and the South Pacific, Australia and New Zealand, Africa, India, South America, the Panama Canal, and the Caribbean. |
2024-11-02 | ETF Daily News | Park Place Capital Corp Sells 2,687 Shares of Ally Financial Inc. (NYSE:ALLY) | Park Place Capital Corp trimmed its position in Ally Financial Inc. (NYSE:ALLY–Free Report) by 45.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,289 shares of the financial services provider’s stock after selling 2,687 shares during the quarter. Park Place Capital Corp’s holdings in Ally Financial were worth $89,000 as of its most recent SEC filing. A number of other institutional investors and hedge funds also recently modified their holdings of the company. Sessa Capital IM L.P. raised its holdings in shares of Ally Financial by 426.5% in the 1st quarter. Sessa Capital IM L.P. now owns 9,493,106 shares of the financial services provider’s stock valued at $241,979,000 after purchasing an additional 7,689,915 shares during the period. State Street Corp raised its holdings in shares of Ally Financial by 3.3% in the 1st quarter. State Street Corp now owns 8,749,404 shares of the financial services provider’s stock valued at $380,424,000 after purchasing an additional 281,795 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Ally Financial by 18.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,343,564 shares of the financial services provider’s stock valued at $212,677,000 after purchasing an additional 1,281,000 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Ally Financial by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,065,475 shares of the financial services provider’s stock valued at $180,094,000 after purchasing an additional 254,442 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Ally Financial by 195.1% in the 4th quarter. Millennium Management LLC now owns 6,058,768 shares of the financial services provider’s stock valued at $148,137,000 after purchasing an additional 4,005,417 shares during the period. 86.04% of the stock is owned by institutional investors. NYSE ALLYopened at $24.30 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 6.64 and a beta of 1.34. The firm’s 50 day simple moving average is $26.18 and its 200 day simple moving average is $26.92. Ally Financial Inc. has a 1 year low of $21.58 and a 1 year high of $35.78. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverAlly Financial (NYSE:ALLY–Get Free Report) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. Ally Financial had a net margin of 14.64% and a return on equity of 11.36%. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the business posted $1.12 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, research analysts expect that Ally Financial Inc. will post 3.23 earnings per share for the current fiscal year. The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $1.20 dividend on an annualized basis and a yield of 4.94%. Ally Financial’s dividend payout ratio is currently 32.79%. Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Ally Financial from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, October 17th. Wolfe Research lowered shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 24th. Citigroup decreased their target price on shares of Ally Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, October 19th. TheStreet lowered shares of Ally Financial from a “b-” rating to a “c+” rating in a research report on Friday, October 13th. Finally,StockNews.comassumed coverage on shares of Ally Financial in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $29.78. Read Our Latest Analysis on ALLY (Free Report) Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments. |
2024-11-02 | The Times of India | Origin Energy shareholder rejects fresh Brookfield $10.5 bln bid, shares fall | Reuters Origin Energy 's largest shareholder on Thursday said it would vote against a "best and final" A$16.40 billion ($10.55 billion) offer from a Brookfield consortium for Australia's biggest energy retailer , throwing the deal's future into doubt. AustralianSuper said in a statement the consortium's A$9.53 per share offer, an 8% increase over the previous A$8.81 apiece bid, remained "substantially below" its estimate of Origin's long-term value. "AustralianSuper believes Origin has a highly strategic portfolio of assets to participate in, and benefit from, the energy transition," a spokesperson said. Origin shares plunged as much as 5.6% to A$8.565 in high-volume trading following the news, as AustralianSuper's 13.68% holding could scupper a deal that requires approval from 75% of the register if not all investors vote. Hours earlier, the consortium led by Canada's Brookfield , which also includes EIG's MidOcean Energy, said the increased offer was its "best and final" proposal, meaning it cannot be increased unless a rival offer emerged. Brookfield did not respond immediately to a request for comment after AustralianSuper's announcement. AustralianSuper, the country's largest pension fund with A$300 billion in assets, on Tuesday had already rejected the prior offer, saying it was "substantially below" its estimate of long-term value as the country moves toward net-zero emissions by 2050. "If AustralianSuper is rejecting it, the likelihood of the deal going ahead is very low," said Jamie Hannah, deputy head of investments and capital markets at VanEck, which owns a 0.3% stake in Origin. "I think the deal is back at the drawing board at the moment." Should the deal fail at the shareholder vote scheduled for Nov. 23, a revised agreement allows the consortium to make a subsequent off-market bid if it buys 5% or more of Origin shares. That route only requires 50.1% shareholder support, offering the buyers a way to bypass opposition. The rejection put AustralianSuper at odds with Origin's board, which said on Thursday it unanimously recommended shareholders vote in favour of the revised deal in the absence of a superior proposal. The offer is above the $A8.45 to A$9.48 per share valuation range contained in an independent expert's report examining the previous offer, though that outlined a "roll forward" calculation that shares could be worth an additional 40 Australian cents by the time the takeover is due to close. Brookfield Asia Pacific CEO Stewart Upson said the consortium planned to invest $A20 billion to A$30 billion in Origin in the next decade to fund the company's energy transition to achieve net zero emissions on a greater scale and speed. Should the deal close, Brookfield and its partners GIC and Temasek will own Origin's Energy Markets business, which includes power generation and retailing. MidOcean, in which Saudi Arabia's Aramco recently bought a stake, would take over the integrated gas business, including the 27.5% stake in the Australia Pacific LNG project. ($1 = 1.5640 Australian dollars). Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on origin energy retailer australiansuper stock names Origin Energy (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. 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2024-11-02 | ETF Daily News | HBK Sorce Advisory LLC Trims Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) | HBK Sorce Advisory LLC trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC–Free Report) by 47.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,993 shares of the financial services provider’s stock after selling 17,723 shares during the quarter. HBK Sorce Advisory LLC’s holdings in The PNC Financial Services Group were worth $2,518,000 at the end of the most recent quarter. Several other hedge funds and other institutional investors have also recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its holdings in The PNC Financial Services Group by 7.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after purchasing an additional 860,489 shares during the period. FMR LLC increased its holdings in The PNC Financial Services Group by 5.8% during the 1st quarter. FMR LLC now owns 11,401,954 shares of the financial services provider’s stock worth $1,449,188,000 after purchasing an additional 623,952 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in The PNC Financial Services Group by 788.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,501,090 shares of the financial services provider’s stock worth $1,080,490,000 after purchasing an additional 7,544,029 shares during the period. Geode Capital Management LLC increased its holdings in The PNC Financial Services Group by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider’s stock worth $915,146,000 after purchasing an additional 171,876 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in The PNC Financial Services Group by 0.8% during the 1st quarter. Ameriprise Financial Inc. now owns 5,908,771 shares of the financial services provider’s stock worth $748,727,000 after purchasing an additional 45,494 shares during the period. 80.14% of the stock is currently owned by hedge funds and other institutional investors. The PNC Financial Services Group stockopened at $115.01 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.82 and a current ratio of 0.82. The business’s 50-day simple moving average is $119.39 and its two-hundred day simple moving average is $123.06. The company has a market cap of $45.80 billion, a PE ratio of 7.87, a PEG ratio of 1.03 and a beta of 1.14. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $170.27. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe PNC Financial Services Group (NYSE:PNC–Get Free Report) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.50. The business had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.32 billion. The PNC Financial Services Group had a return on equity of 12.91% and a net margin of 20.39%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.78 EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.79 EPS for the current year. The company also recently declared a quarterly dividend, which will be paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, October 16th. This represents a $6.20 annualized dividend and a yield of 5.39%. The PNC Financial Services Group’s payout ratio is presently 43.03%. Several research analysts have commented on PNC shares. Stephens reduced their price objective on The PNC Financial Services Group from $143.00 to $138.00 and set an “equal weight” rating on the stock in a report on Monday, October 16th. Morgan Stanley dropped their target price on The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of The PNC Financial Services Group in a research report on Tuesday, October 24th.StockNews.combegan coverage on The PNC Financial Services Group in a research report on Thursday, October 5th. They set a “sell” rating on the stock. Finally, HSBC began coverage on The PNC Financial Services Group in a research report on Thursday, September 7th. They set a “reduce” rating and a $110.00 target price on the stock. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $150.99. Read Our Latest Analysis on The PNC Financial Services Group (Free Report) The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services. |
2024-11-02 | ETF Daily News | New York Life Investment Management LLC Lowers Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) | New York Life Investment Management LLC cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC–Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,490 shares of the financial services provider’s stock after selling 401 shares during the period. New York Life Investment Management LLC’s holdings in The PNC Financial Services Group were worth $10,516,000 as of its most recent SEC filing. A number of other hedge funds also recently added to or reduced their stakes in PNC. Price T Rowe Associates Inc. MD lifted its holdings in shares of The PNC Financial Services Group by 788.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,501,090 shares of the financial services provider’s stock worth $1,080,490,000 after purchasing an additional 7,544,029 shares during the period. Norges Bank acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $735,469,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 122,771.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after acquiring an additional 2,538,916 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of The PNC Financial Services Group by 98,059.3% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,484,169 shares of the financial services provider’s stock worth $186,931,000 after acquiring an additional 1,482,657 shares during the period. Finally, First Trust Advisors LP raised its holdings in The PNC Financial Services Group by 187.2% during the first quarter. First Trust Advisors LP now owns 2,000,936 shares of the financial services provider’s stock worth $254,319,000 after purchasing an additional 1,304,196 shares in the last quarter. 80.14% of the stock is owned by institutional investors and hedge funds. Shares ofNYSE:PNCtraded up $2.33 on Thursday, hitting $115.79. The company had a trading volume of 152,549 shares, compared to its average volume of 2,954,619. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.28. The company has a market cap of $46.11 billion, a PE ratio of 7.87, a PEG ratio of 1.03 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $170.27. The business has a 50 day moving average of $119.39 and a 200 day moving average of $123.06. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe PNC Financial Services Group (NYSE:PNC–Get Free Report) last released its earnings results on Friday, October 13th. The financial services provider reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.50. The company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.32 billion. The PNC Financial Services Group had a net margin of 20.39% and a return on equity of 12.91%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.78 EPS. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.79 earnings per share for the current fiscal year. The company also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Investors of record on Tuesday, October 17th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, October 16th. This represents a $6.20 dividend on an annualized basis and a yield of 5.35%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.03%. A number of equities research analysts have weighed in on PNC shares.StockNews.cominitiated coverage on The PNC Financial Services Group in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of The PNC Financial Services Group in a report on Tuesday, October 24th. Wells Fargo & Company decreased their target price on shares of The PNC Financial Services Group from $186.00 to $176.00 in a research report on Wednesday, July 19th. Stephens reduced their price objective on shares of The PNC Financial Services Group from $143.00 to $138.00 and set an “equal weight” rating for the company in a research note on Monday, October 16th. Finally, Bank of America raised shares of The PNC Financial Services Group from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $150.99. Read Our Latest Report on PNC (Free Report) The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services. |
2024-10-21 | Business Insider | $20,000 repair bills and other hidden costs that could sneak up on EV buyers | The price ofelectric vehiclesis still the biggest hurdle to most consumers considering aswitch from gas-powered cars,and they might not even be factoring in some of the hidden costs associated with them. A man in Scotland was recently shocked by a £17,374 ($21,000) bill to fix hisTesla afterrain damaged the battery. "I thought we would get a bill for £500 or £1,000," Johnny Bacigalupo told Edinburgh Live. "When they said over 17 grand — it's absolutely obscene. My heart missed a beat, honestly." Whilegovernment tax creditscan help with the initial vehicle purchase,EVs are still more expensive than gas cars, mainly because it costs a lot to make them. While there have beenprice cuts,automakers ramped up production, causing the demand — and prices — for parts to skyrocket,especially batteries. The cost of the parts leads to issues that could make the cars much more expensive than the sales tag in the long run. Recurrent, a firm that studies battery health, surveyed 15,000 EV driversin Marchand found that 1.5% neededbattery replacements,which range between $5,000 and $20,000. The cars surveyed go back to 2011, but a vast majority were six years old or younger. However, in some cases, it can cost even more. Last year,a Tesla ownerin Canada shared on TikTok that the company told him that a replacement battery would cost $26,000 when it died. Thebatteries are easy to damage,difficult to repair,or even assess. Tesla's Model Y battery has "zero repairability" after a collision, according to auto expert Sandy Munro. Replacing a battery is so costly, that it can often be more than the car is worth, forcinginsurance companiesto write them off. Easy write-offs from insurance companies lead tohigher premiums. According to Bankrate, theaverage cost to insure a Teslaranges from $2,503 annually to $4,066, depending on the model. Meanwhile, the US average for all cars is about $2,148. Those premiums are driven by higher repair costs. While EVsneed to be fixed less oftenthan gas cars, those repairs are more expensive. According to Mitchell, a collision repair software company, the average repair cost for a non-Tesla EV is $269 higher than the average for all vehicles. For Teslas, each repair is $1,347 more than average. There is also specialized labor required. "Those parts can be pricey," according toinsurance provider Progressive. "If the battery pack is damaged, certain safety protocols are often necessary, adding more to the repair bill. Plus, there aren't as many shops with technicians trained to fix electric vehicles versus traditional vehicles." Electricity pricescan fluctuate greatly by state and time of year, but there are other less obvious costs associated withcharging EVs. According to a study from Anderson Economic Group, if other factors are considered, such as installing a charger and EV registration fees, most carscost more to chargethan to fuel with gas. MostEV ownerscharge their cars at home and most vehiclescome with a charger that can plug into a standard 110-volt home outlet. However, a long charge with this type of outlet may not be enough for some journeys: One driver of aFord Mustang Mach-Etold Insider they only got about 36 miles of range from an overnight charge. To up the charging capacity, an owner needs access to a 240-volt outlet fora Level 2 charger,or can install one at home. They can purchase aLevel 2 chargerfor between $200 to $1,000, depending on the features included. The installation adds about $1,000 to the total,according to Edmunds. "If you don't have a Level 2, it's almost impossible," Bloomberg automotive analyst Kevin Tynan, who researches EVs,told Insiderwhen asked about getting sufficient charge into an EV. And if you do have a Level 2 charger at home, you might have to declare it on yourhome insurance policy, which could increase that premium. Another issue withEV batteriesis that nobody knows their lifespan. If people interested in used EVs are worried aboutreplacing an expensive battery, the resale value will take a big hit. Lifespan is also a factor with tires. Because the batteries on EVs are so heavy, the cars are heavier than comparable gas vehicles. As a result, the cars requiremore expensive tiresand those tires have to bereplaced soonerthan traditional car tires. There are also indirect costs, such as time. There is a good chance an owner will be forced togo to a dealerfor repairs due to the complexity. This has led to long wait times, a lack of competitive pricing, and poor replacement parts inventory. Thecost differences between EVs and other carswill improve. Thesticker priceswill continue to come down, and smaller EVs are expected to have the same initial cost as their gas equivalents by 2025. In the meantime, many EV owners are switching back to gas-powered cars. According to a University of California-Davis study of4,167 people, about 20% of EV ownerspurchased a gas carthe next time, with most citing charging headaches. Of those who switched, 70% did not have a Level 2 charger at home. As of February, the EV market share has risen to 8.5%, up from 2.6% in 2020. However,according to JD Power, the number of people they surveyed earlier this year who are "very likely" to buy an EV has remained steady since 2022, while the percentage of those who say they won't switch to electric carshas grown. |
2024-10-19 | Marketscreener.com | MarineMax to Report Fiscal 2023 Fourth Quarter and Full Year Results on Thursday, October 26, 2023 | MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat, yacht, and superyacht services company, plans to release its fiscal 2023 fourth quarter and full year financial results before the opening of the New York Stock Exchange on Thursday, October 26, 2023. At 10:00 a.m. ET that day, the Company will conduct a conference call hosted by Brett McGill, Chief Executive Officer and President, and Mike McLamb, Executive Vice President, Chief Financial Officer and Secretary. To access the webcast, please visit the investor relations section of the Company's website:www.marinemax.com. The online replay will be available within one hour of the conclusion of the call and will be archived on the website for one year. The live call also can be accessed by dialing 877-407-0789 (U.S. and Canada) or 201-689-8562 (International). About MarineMax As the world’s largest lifestyle retailer of recreational boats and yachts, as well as yacht concierge and superyacht services, MarineMax (NYSE: HZO) is United by Water. We have 130 locations worldwide, including 80 dealerships and 59 marinas. Our integrated business includes IGY Marinas, which operates luxury marinas in yachting and sport fishing destinations around the world; Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies; Cruisers Yachts, one of the world’s premier manufacturers of premium sport yachts and motor yachts; and Intrepid Powerboats, a premier manufacturer of powerboats. To enhance and simplify the customer experience, we provide financing and insurance services as well as leading digital technology products that connect boaters to a network of preferred marinas, dealers, and marine professionals through Boatyard and Boatzon. In addition, we operate MarineMax Vacations in Tortola, British Virgin Islands, which offers our charter vacation guests the luxury boating adventures of a lifetime. Land comprises 29% of the earth’s surface. We’re focused on the other 71%. Learn more atwww.marinemax.com. View source version on businesswire.com:https://www.businesswire.com/news/home/20231019544342/en/ |
2024-10-24 | GlobeNewswire | Crédit Agricole Assurances announces the success of its previously launched Tender Offers, their Final Acceptance Amount and the Final Results | Press release Paris, 24 October 2023 This press release may not be distributed or published directly or indirectly in the United States, Canada, Australia or Japan Crédit Agricole Assurances announces the success of its previously launched Tender Offers, their Final Acceptance Amount and the Final Results Crédit Agricole Assurances announces today: (i)the success of its tender offers launched on 16 October 2023 (the "Tender Offers") relating to two series of undated subordinated notes issued in 2014 and 2015 (the "Notes"), and to which an aggregate principal amount of 803,300,000 euros for both series of Notes was tendered; (ii)that it has set the final acceptance amount of its Tender Offers at 500,000,000 euros, in accordance with the maximum amount announced on 17 October 2023 corresponding to the amount of newly- issued Tier 2 subordinated notes; and (iii)the Final Results for each of the series of Notes on the terms and conditions set out in the Tender Offer Memorandum dated 16 October 2023 (the "Tender Offer Memorandum"). This repurchase of 500,000,00 euros in nominal value of subordinated debt currently benefiting from a grandfathering clause, which follows the issue of 500,000,000 euros in Tier 2 debt maturing in 2033, enables Crédit Agricole Assurances to spread the maturity profile of its debt and is in line with its policy of active capital management. On 16 October 2023, Crédit Agricole Assurances invited the holders of the Notes (the"Holders") to tender their Notes for purchase by Crédit Agricole Assurances in accordance with the terms and conditions set out in the Tender Offer Memorandum. The two series of Notes concerned by the Tender Offers are undated subordinated notes issued in 2014 and 2015 by Crédit Agricole Assurances, currently benefiting from a grandfathering clause, with an outstanding principal amount of 1 billion euros (ISIN FR0012444750) and 750 million euros (ISIN FR0012222297) respectively, bearing interest at fixed annual rates of 4.25% and 4.5% resettable respectively on 13 January and 14 October 2025. The Tender Offers expired on 23 October 2023 at 4:00 p.m. Central European Summer Time (the "Expiration Date"). In accordance with the terms and conditions of the Tender Offer Memorandum, no Notes tendered after the Expiration Date will be eligible for purchase by Crédit Agricole Assurances under its Tender Offers. Final Acceptance Amount Crédit Agricole Assurances announces today that it has set the final acceptance amount of its Tender Offers (the "Final Acceptance Amount") at 500,000,000 euros, which is equal to the maximum tender amount of 500,000,000 euros previously announced. Final Results The Notes validly tendered on or prior to the Expiration Date represent an aggregate nominal amount of 803,300,000 euros for the two series of Notes (the "Validly Tendered Amount"). As the Validly Tendered Amount across the two series of Notes exceeds the Final Acceptance Amount across the two series of Notes, Crédit Agricole Assurances has prorated such amount in accordance with the terms set out in the Tender Offer Memorandum. The Company is pleased to announce for each Series of Notes and as set out in the table below: (i) the Reference Benchmark Rate; (ii) the Purchase Price; (iii) the pro-ration factor when applicable, (iv) the Validly Tendered Amount accepted for purchase by the Company, and (v) the aggregate principal amount which will remain outstanding following the settlement of the Tender Offers. The Tender Offers are expected to be settled on 26 October 2023, on which date Crédit Agricole Assurances will deposit with Euroclear, Clearstream or Euroclear France (as the case may be), the amount necessary to pay the Purchase Price plus accrued interest to the relevant Holders. The tendered Notes will be cancelled by Crédit Agricole Assurances immediately following settlement of the Tender Offers. For further details on the terms and conditions of the Tender Offers, please refer to the Tender Offer Memorandum. Uptevia acts as Tender and Information Agent in connection with the Tender Offers. Holders eligible to participate in the Tender Offers may direct any questions regarding the procedures for tendering their Notes to Uptevia and request from Uptevia to provide them with a copy of the Tender Offer Memorandum by telephone at +33 (1) 57 78 11 57 or by email at sylvie.benacom@uptevia.com or atCT-service-ost@uptevia.com. Crédit Agricole Assurances is rated A-/stable outlook by Standard & Poor's About Crédit Agricole AssurancesCrédit Agricole Assurances is France’s leading insurer and comprises the insurance subsidiaries of Crédit Agricole. The Group offers a range of savings, retirement, health, personal protection and property insurance products and services, which are distributed by Crédit Agricole Group banks in France and in nine countries worldwide by wealth management advisors and general agents. Crédit Agricole Assurances companies serve individual customers, the self-employed, farmers and businesses. Crédit Agricole Assurances has 5,700 employees. It reported 2022 revenues of €35.3 billion (IFRS).www.ca-assurances.com Disclaimer Holders must make their own decisions as to whether to offer their Notes pursuant to the Tender Offers and, if so, the nominal amount of the Notes to be offered. Holders should consult their own tax, financial, accounting and legal advisers as they consider appropriate regarding the acceptability of the tax, accounting, financial and legal consequences of participating or not participating in the Tender Offers. This press release does not constitute an offer to purchase or the solicitation of an offer to sell any securities whatsoever. This announcement does not constitute an invitation to participate in the Tender Offers. Any such invitation will be made solely by means of documents (the Tender Offer Memorandum) that will be made available to investors to whom the invitation may lawfully be addressed. The distribution of this press release in certain countries may be prohibited by law. European Economic Area.In any European Economic Area (“EEA”) Member State (each, a “Relevant State”), this announcement, the Tender Offer Memorandum or any other documents or materials relating to the Tender Offers are only addressed to and are only directed at qualified investors within the meaning of Regulation (EU) 2017/1129 as amended (the “Prospectus Regulation”) in that Relevant State. Each person in a Relevant State who receives any communication in respect of the Tender Offers contemplated in this announcement, the Tender Offer Memorandum or any other documents or materials relating to the Tender Offers will be deemed to have represented, warranted and agreed to and with the Sole Structuring Bank and Sole Dealer Manager, as defined in the Tender Offer Memorandum, and the Crédit Agricole Assurances S.A. that it is a qualified investor within the meaning of Article 2(e) of the Prospectus Regulation. Neither this announcement nor the Tender Offer Memorandum constitutes a prospectus within the meaning of the Prospectus Regulation. United Kingdom.The communication of this announcement, the Tender Offer Memorandum and any other documents or materials relating to the Tender Offers is not being made, and such documents and/or materials have not been approved by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended (the “FSMA”). Accordingly, this announcement, the Tender Offer Memorandum and/or any other documents or materials relating to the Tender Offers are not being distributed to, and must not be passed on to, the general public in the United Kingdom (“UK”). The communication of such documents and/or materials in the UK shall be exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may only be communicated to “qualified investors” in the meaning of Article 2(e) of the Prospectus Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 who are (i) investment professionals as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Financial Promotion Order”), (ii) persons falling within Article 43(2) of the Financial Promotion Order, including existing members and creditors of Crédit Agricole Assurances, and (iii) any other persons to whom these documents and/or materials may lawfully be communicated (together being referred to as “relevant persons” in this paragraph), and must not be acted on or relied upon by persons other than relevant persons. United States. The Tender Offers are not being made and will not be made directly or indirectly in or into, or by use of the mails of, or by any means or instrumentality (including, without limitation, facsimile transmission, telex, telephone, email and other forms of electronic transmission) of interstate or foreign commerce of, or any facility of a national securities exchange of, or to beneficial owners of the Notes who are located in the United States, or who are U.S. Holders (each a “U.S. Holder”) as defined in Rule 800 under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and the Notes may not be tendered by any such use, means, instrumentality or facility from or within the United States, by persons located or resident in the United States or by U.S. Holders. Accordingly, copies of the Tender Offer Memorandum and any documents or materials related to the Tender Offers are not being, and must not be, directly or indirectly, mailed or otherwise transmitted, distributed or forwarded in or into the United States or to any such person. Any purported tender in response to the Tender Offers resulting directly or indirectly from a violation of these restrictions will be invalid, and tenders made by a person located in the United States or any agent, fiduciary or other intermediary giving instructions from within the United States or any U.S. Holder will not be accepted. Each holder of Notes participating in the Tender Offers will represent that it is not a U.S. Holder, is not located in the United States and is not participating in the Tender Offers from the United States. For the purposes of this and the above paragraph, “United States” has the meaning given to it in Regulation S under the Securities Act and includes the United States of America, its territories and possessions (including Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands), any state of the United States of America and the District of Columbia. Attachment |
2024-10-06 | The Times of India | Columbus Day or Indigenous Peoples’ Day on next Monday? Know why it varies from state to state | Are you celebrating Indigenous Peoples ’ Day on the second Monday? Or is it Columbus Day that you will celebrate? It is one of the most inconsistently celebrated holidays in the US and it varies from state to state. The second Monday in October is one of 11 official federal holidays and federal workers get a paid day off. Columbus Day in 16 states Native Americans and other liberals argue that Christopher Columbus can not be the right person to celebrate. Instead, this day should be celebrated as Indigenous Peoples’ Day as a tribute to the Aboriginal people. But, 16 states and the territory of American Samoa observe the second Monday in October as an official public holiday exclusively called Columbus Day. No official holiday in 26 states Besides, four states, two territories, and Washington, D.C., it is an official public holiday, but it has a different name. Four other states and the U.S. Virgin Islands observe the day as both Columbus Day and something else. But there is no official holiday in 26 states and the territory of Guam, so the second Monday in October is pretty much like any other workday. According to the Council of State Governments’ comprehensive 'Book of the States', 25 states and the District of Columbia observed Columbus Day as a public holiday till two decades back. After the native Americans began to assert themselves, several states moved away from Columbus Day. Indigenous Peoples’ Day Maine, New Mexico, Vermont and D.C. retained this day as an official holiday, but they renamed it as the Indigenous Peoples’ Day in 2019. California and Delaware dropped the holiday in 2009. In Hawaii, it is known as Discoverers’ Day, but officially it can't be a holiday. It is an altogether different story in Puerto Rico, which observes it as Dia de la Raza to celebrate Latin American peoples and cultures. Colorado Colorado was the first state to designate the second Monday in October as Columbus Day more than 100 years ago. But it replaced it with a new state holiday on the first Monday in October 2020 to honor Frances Xavier Cabrini., FAQs: How many states celebrate the second Monday in October as Columbus Day? As many as 16 states and the territory of American Samoa observe the second Monday in October as an official public holiday exclusively called Columbus Day. In how many states there is no official federal holiday on the second Monday in October? There is no official holiday in 26 states and the territory of Guam. So the second Monday in October is pretty much like any other workday there. Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein. Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on indigenous peoples columbus federal holiday federal workers dia de la raza indigenous peoples' day columbus day (Catch all the US News , UK News , Canada News , International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates. ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Riding high on the AI wave, are Indian tech startups missing the bus on innovation? Low index option premiums are like Jezebel, sinking retail traders. Prop traders, punters, too, flail Selling cut-price generics, Mark Cuban is shaking up US pharma. Can Indian drug makers benefit? ‘Use no more than what you need’: How Amazon reached the top of India’s green energy market 3 insights to kick-start your day, featuring subscriptions Zurich Insurance-Kotak Mahindra General Insurance deal Stock Radar: Marico sees profit booking after hitting 52-week high in October; should you buy? 1 2 3 View all Stories |
2024-10-09 | GlobeNewswire | Mental Wellness Market Size is Projected to Reach USD 280.52 Billion by 2030, Growing at a CAGR of 7.54%: The Brainy Insights | Newark, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 145.83 billion in 2021 globalmental wellness marketwill reach USD 280.52 billion by 2030. Anxiety and depressive disorders were the most common mental disorders, affecting 970 million people globally, or 1 in every eight. The COVID-19 pandemic significantly increased the number of persons who experienced anxiety and depressive disorders in 2020. According to the World Health Organisation, 5% of people globally suffer from depression. Worldwide, 280 million people have clinical depression. Anxiety is estimated to affect 301 million individuals worldwide, or 4.05 per cent of the global population. These ailments affect people's daily lives. The increased demand for mental wellness programmes results from growing awareness of these diseases, encouraging the market's expansion. Request market scope and parent market analysis sample PDF:https://www.thebrainyinsights.com/enquiry/sample-request/12932 Key Insight of the Global Mental Wellness Market North America is expected to rise the fastest during the forecast period. The rising adoption of cutting-edge healthcare technology pertinent to mental well-being in North America has resulted in the region dominating the mental wellness market. The region's expanding mental wellness market results from the rising prevalence of mental illness, which is caused by the region's unhealthy sedentary lifestyle, which includes long working hours, excessive screen time, a poor diet, no exercise, and social isolation. The market in the area is also being driven by awareness about mental diseases and the advantages of mental wellness. The market is expanding due to MNCs, other corporations, governmental organizations, and private families adopting mental illness more frequently. The region's market for mental wellness will grow thanks to a strong healthcare infrastructure and benevolent reimbursement rules. In 2021, the depression segment dominated the market with the largest market share of 42% and market revenue of 61.24 billion. The disorder segment is divided into depression, schizophrenia, bipolar disorder, post-traumatic stress disorder, anxiety, substance use disorder, alcohol use disorder, eating disorder, and others. In 2021, the depression segment dominated the market with the largest market share of 42% and market revenue of 61.24 billion. In 2021, the meditation and mindfulness segment dominated the market with the largest market share of 34% and market revenue of 49.58 billion. The type segment is divided into senses, spaces & sleep, self-improvement, brain-boosting nutraceuticals & botanicals, and meditation & mindfulness. In 2021, the meditation and mindfulness segment dominated the market with the largest market share of 34% and market revenue of 49.58 billion. In 2021, the adult segment dominated the market with the largest market share of 49% and market revenue of 71.45 billion. The age group segment is divided into teenager, adult, and geriatric. In 2021, the adult segment dominated the market with the largest market share of 49% and market revenue of 71.45 billion. Get additional highlights on the growth strategies adopted by vendors and their product offerings:https://www.thebrainyinsights.com/report/mental-wellness-market-12932 Advancement in market October 2023 - To commemorate a turning point in the Singapore insurance sector, Income Insurance has developed a stand-alone mental wellness insurance plan. The "SNACK Self Care Pack" plan, which gives coverage without limitations such as inpatient hospitalization or post-hospitalization conditions, is offered through a monthly subscription on the SNACK by Income mobile app for SG$9.90. Additionally, it gives customers improved access to psychotherapy and psychiatric consultations. This announcement comes shortly after Income Insurance introduced Star Secure Pro, a different plan to offer supplemental coverage for five mental health conditions: major depressive disorder, obsessive-compulsive disorder, schizophrenia, bipolar disorder, and Tourette's syndrome. Market Dynamics Driver: Increased incidence of mental illnesses. People are extremely stressed out due to the fierce rivalry and bustle of the modern world. Inactivity, poor eating practises, lack of sleep, and a culture of hustle with a growing workload are all associated with the modern lifestyle, which results in acute stress, migraines, and occasionally depression. Because it makes people feel less stressed, sleep better and may be employed in at-home care settings, mental wellness will be the driving force behind the market for global mental wellness. A greater awareness of mental illness, its effects on the body, and how it affects a person's overall welfare has led to an increase in the number of people seeking mental health services. Restraints: High cost of mental wellness therapies or treatments. The construction of institutions that provide expensive therapies and treatments for mental wellness that are out of the financial range of the average individual is the result of the commercialization of mental wellness. Due to its high cost, mental health will be out of reach for most people, limiting the market's growth. Opportunities: favourable Government programmes. In response to the growing demand for mental well-being, the scientific community is pursuing cutting-edge research and development to understand the brain. Leading market players invest considerable financial resources in creating therapies, drugs, medical equipment, systems, and treatments based on research findings to satisfy the rising demand for mental wellness products. Government legislation that aims to improve the healthcare system and raise awareness of, organization for, and emphasis on mental health will also offer lucrative opportunities for market players. Challenges: the shortage of qualified professionals. Risks related to mental diseases can include fatalities and serious issues with physical, emotional, and behavioural health. Inadequate patient care might intensify trauma, increasing the patient's pain and misery. The persons diagnosing or treating the patients must be well-trained and equipped to prevent the hazards. Undeveloped and developing economies lack the requisite competent healthcare workers to care for the growing number of mental health patients. The market for mental well-being may not be able to expand due to this imbalance. Interested in Procure Data? Visit:https://www.thebrainyinsights.com/enquiry/speak-to-analyst/12932 Some of the major players operating in the global mental wellness market are: • Acadia Healthcare• Amare Global• Ascension Seton• Behavioral Health Network Inc.• CVS Health• FranklinCovey• Headspace• Promises Behavioral Health• Pyramid Healthcare• Universal Health Services Inc. Key Segments covered in the market: By Disorder • Depression• Schizophrenia• Bipolar Disorder• Post-Traumatic Stress Disorder• Anxiety• Substance Use Disorder• Alcohol Use Disorder• Eating Disorder• Others By Type • Senses, Spaces & Sleep• Self-Improvement• Brain Boosting Nutraceuticals & Botanicals• Meditation & Mindfulness By Age Group • Teenager• Adult• Geriatric By Region • North America (U.S., Canada, Mexico)• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)• Asia-Pacific (China, Japan, India, Rest of APAC)• South America (Brazil and the Rest of South America)• The Middle East and Africa (UAE, South Africa, Rest of MEA) Inquire for Customized Data:https://www.thebrainyinsights.com/enquiry/speak-to-analyst/12932 About the report: The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis. About The Brainy Insights: The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market. Contact Us Avinash DHead of Business DevelopmentPhone: +1-315-215-1633Email:sales@thebrainyinsights.comWeb:http://www.thebrainyinsights.com |
2024-10-19 | The Times of India | Natalee Holloway Case: Suspect Joran van der Sloot admits killing her in 2005, disposing body in sea | iStock In an important development, a Dutch man, Joran van der Sloot , has admitted to killing a woman twenty years ago and trying to get a large amount of money from the victim's mother. This confession is part of an agreement where van der Sloot also admitted to trying to extort money and has to explain what happened when 18-year-old American Natalee Holloway died. According to Sloot's statement, he admitted to fatally assaulting Ms. Holloway on an Aruba beach in 2005 when she turned down his romantic advances. It's worth mentioning that van der Sloot hasn't been formally accused of Ms. Holloway's murder, but his admission of extortion has enabled authorities to learn important information about the 2005 incident. Outside an Alabama federal courthouse, Beth Holloway, who is Natalee's mother, shared her sentiments. She said, " Joran Van der Sloot is no longer the suspect in my daughter's murder. He is the killer." Van der Sloot, a Dutch citizen, is currently serving a 28-year sentence in Peru for the murder of another woman in 2010. In May, Peru's government approved his extradition to the US to face trial for alleged extortion and wire fraud charges related to the Holloway case. Natalee Holloway, a resident of Birmingham , disappeared after a night out with friends. She was last seen leaving a bar with van der Sloot, a student at an international school on the island. Van der Sloot confessed to disposing of her body in the sea, although her remains were never found. Court documents and reports from the Associated Press reveal that van der Sloot made this admission during a polygraph examination. As part of his plea deal, the 36-year-old has pleaded guilty to wire fraud, resulting in a concurrent 20-year sentence alongside his existing 28-year sentence for killing Stephany Flores in 2010. During the sentencing, Judge Anna Manasco remarked that van der Sloot had "brutally murdered" two women in a span of a few years "who refused your sexual advances." Van der Sloot, wearing an orange jumpsuit, expressed his desire to apologize to both the Holloway family and his own, acknowledging that he is no longer the person he once was. In an impactful statement, Beth Holloway addressed van der Sloot, saying, "You look like hell, Joran." Dave Holloway 's lawyer noted that the Dutchman could not be prosecuted in Aruba due to the expiration of the statute of limitations. This confession from Joran van der Sloot brings some closure to the long-standing mystery surrounding Natalee Holloway's disappearance and provides a glimmer of justice for her grieving family. Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein. Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on joran van der sloot van der joran van der sloot natalee holloway van der sloot holloway Natalee Holloway case natalee natalee holloway joran van dave holloway (Catch all the US News , UK News , Canada News , International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates. ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Riding high on the AI wave, are Indian tech startups missing the bus on innovation? Low index option premiums are like Jezebel, sinking retail traders. Prop traders, punters, too, flail Selling cut-price generics, Mark Cuban is shaking up US pharma. Can Indian drug makers benefit? ‘Use no more than what you need’: How Amazon reached the top of India’s green energy market 3 insights to kick-start your day, featuring subscriptions Zurich Insurance-Kotak Mahindra General Insurance deal Stock Radar: Marico sees profit booking after hitting 52-week high in October; should you buy? 1 2 3 View all Stories |
2024-11-01 | The Indian Express | Punjab Inc: Meet the Ludhiana-based champion of MSMEs in India | I, Me and Myself I am Badish Jindal, an industrialist based inLudhiana. I completed my studies at Atam Public School and Arya College in Ludhiana. I own two Micro, Small, and Medium Enterprises (MSMEs) – Shakti Corporation and Wire Concepts, specialising in wire and fastener manufacturing. I serve as the President of the Federation of Punjab Small Industries Associations (FOPSIA) and hold the position of National President at the All Industries and Trade Forum (AITF). I have also served as the past National President of the Federation of Association of Small Industries of India, the apex body for the MSME sector in India. FOPSIA, with a membership exceeding 2000, represents MSMEs in the state and has 45 industrial associations of Punjab under its wing. FOPSIA is authorised by the Ministry of Commerce to issue certificates of Origin to Exporters. My Accomplishments I was nominated by the Government of India to represent the Indian industry at the International Labour Organization (ILO) Conference in Geneva, Switzerland, and the India-European Union joint forum on social protection in Brussels, Belgium. At the ILO Geneva, I was elected as a speaker among representatives from 135 countries. I also served as the Vice Chairman of the National Productivity Council, a standing committee member of the Employees State Insurance Corporation of India, an Executive Committee Member of the Employees Provident Fund Organisation of India, and a member of various national committees, including the National Budget Advisory Committee, National Steel Consumer Council, Central Advisory Council for Central Excise & Customs, and Central Direct Taxes Advisory Committee. I also contributed to the Directorate General of Supplies and Disposal (DGS & D) Purchase Committee and the Special Committee of Defence. My Entrepreneurial Journey My initial plan was to settle abroad, and I even received a job offer from the USA in 1991. However, as the only son, my father encouraged me to continue our family business. We initially traded in steel and later established a small industrial unit named Shakti Corporation in 1993. In 2006, we started another unit called ‘Wire Concepts.’ In addition, we established an overseas manpower agency approved by the Ministry of External Affairs. Recently, we ventured into the business of exporting garments from India and Bangladesh. The Fight Against Corruption: In 1994, I decided to dedicate my life to fight corruption after facing harassment for refusing to bribe certain officials. Since 2007, I initiated a campaign against bogus billing, even in the face of threats from miscreants who warned me to stop. In 2018, the then Financial Commissioner of Punjab assembled a team to investigate bogus billing, uncovering fake transactions exceeding 2000 crores with our efforts. My fight against bogus billing continues. I actively participated in the Employees State Insurance Corporation (ESIC) and Employees Provident Fund Organization (EPFO) in key committees and pushed for pro-MSME policies. The Challenges: Currently, MSMEs in India face their most challenging period since independence. Government support is gradually dwindling. In the past, these units received steel at subsidized rates, export freight subsidies, lower power prices, and lower bank interest rates compared to large-scale industries. There were also provisions for reservation in the public procurement system. However, all these benefits have diminished. Large enterprises now receive loans at much lower rates than MSMEs. Tenders for over 2500 crores in bicycle procurement in India favor large-scale units, excluding small-scale units. Punjab’s landlocked status makes it increasingly difficult for these units, with high raw material costs and significant expenditure on exporting materials to ports. Corruption and bogus billing persist in the state, contributing to rising state debt. Future Plans: In my industry, we plan to promote our garment brand for gym wear, with tie-ups in the United Kingdom and Canada. In FOPSIA, we will continue to combat bogus billing and corruption, aiming to eliminate these issues from our state. We also intend to establish a help desk within the organization to assist MSMEs at no cost. Expectations from Government: Freight subsidy for exporters.Freight equalisation for steel from government steel plants.Improved infrastructure for industrial areas.More benefits for MSMEs in the Invest Policy.Subsidised interest rates for the MSME sector.Simplification of labor laws in India.Streamlined GST and lower tax rates.Lower and straightforward direct tax rates.Stringent anti-dumping policies.Reforms in the single window system.Strict measures against corruption.Strict actions against companies and officers involved in bogus billing.50% reservation for Micro and Small enterprises in government procurement.50% share for small manufacturers in bicycle and other tenders.Social security for taxpayers.Free trade agreements with other countries to facilitate exports from India.Opening trade with Pakistan, considering North India’s landlocked status. My Stress-Busters: I find solace in listening to music, reading informative books, and writing short poems. I also enjoy traveling to religious places and have visited more than 27 countries, with plans to add more to the list. |
2024-10-05 | Marketscreener.com | Ascot Group Names Mark Wilcox as Chief Financial Officer | NEW YORK,Oct. 5, 2023/PRNewswire/ -- Ascot Group Limited, theBermuda-based global specialty insurance company, today announced the hiring ofMark Wilcoxas its new Group Chief Financial Officer, reporting to Group CEO and PresidentJonathan Zaffino, effectiveNovember 8, 2023. In his new role, Mark will be responsible for leading Ascot's global finance organization and capital strategy, including all financial planning and analysis, tax and treasury functions. "I am thrilled to welcome Mark to the Ascot family. Mark's unique and diverse experiences, along with his undisputed track record of success, will help accelerate Ascot's strategic pursuits and ambitions," saidJonathan Zaffino. "As we continue to expand our organization globally, across both the specialty insurance and reinsurance segments, Mark's proven financial acumen will be a significant addition to our leadership team, our colleagues and our valued clients." Mark joins Ascot from Selective Insurance Group, Inc. ("Selective"), where he led the firm's global finance operations and capital management strategy, as well as accounting, treasury, investor relations, internal audit, investments, reinsurance, enterprise risk management, procurement, contracts, and tax, in his role as Executive Vice President and Chief Financial Officer. During his almost seven years at Selective, Mark oversaw the modernization of the firm's financial reporting process. He partnered with executives across the global finance team, working closely with the board and external constituencies to help drive significant shareholder value. "I am so honored and proud to be joining Ascot Group, a firm I have admired for many years. I look forward to being a part of Ascot's exceptional leadership team and working to advance the company's strategic agenda. In a short time, I have been able to see how dynamic and entrepreneurial Ascot's culture is, and I look forward to working to elevate its mission of creating the best specialty insurance products and reinsurance solutions for clients across the globe," said Wilcox. Prior to joining Selective, Mark spent over thirteen years at Renaissance Re inBermudawhere he served as Senior Vice President, Corporate Controller and Chief Accounting Officer. There he managed a global team across Finance, Investor Relations, Actuarial and Tax, and strengthened the firm's financial operations, processes, and reporting. He is an alumnus ofGeorgetown University'sRobert EmmettMcDonough Schoolof Business, where he received his Master of Business Administration. Mark is a Certified Public Accountant and Chartered Financial Analyst. Mark will be based out of Ascot'sStamford, CToffice. Jonathan Zaffino, added "Ascot Group extends its deepest thanks to outgoing CFOJoe Robertsfor his years of diligent service and leadership to the organization." For more information on Ascot's leadership team and global interconnected platforms, please visit:https://ascotgroup.com/ ABOUT ASCOT GROUP: Ascot Group is a global specialty insurance and reinsurance group with a record of underwriting excellence and superior claims service. Founded in 2001, Ascot provides a broad range of property and casualty products to customers worldwide through its Lloyd's andBermudamarket platforms. Inthe United States, Ascot provides specialized insurance products to small and mid-sized businesses as well as offering underwriting services to high-quality carrier and syndicate partners through its MGU, Ethos Specialty. Ascot Group is owned by CPP Investments, a global investment management organization that invests the assets of the Canada Pension Plan. CPP Investments is the largest pension plan inCanadawith overC$575 billionin invested assets, representing the retirement contributions of over 21 million Canadians. CPP Investments is rated 'AAA' by S&P and Moody's. For more information on Ascot, please visithttps://www.ascotgroup.com. MEDIA CONTACT: Kristina Corso, Prosek Partners. Email:pro-ascot@prosek.com. Phone: 908-278-6225 View original content to download multimedia:https://www.prnewswire.com/news-releases/ascot-group-names-mark-wilcox-as-chief-financial-officer-301948334.html SOURCE Ascot Group |
2024-11-01 | Marketscreener.com | RenaissanceRe Completes Acquisition of Validus Re | RenaissanceRe Holdings Ltd. (NYSE: RNR) today announced that it has concluded its acquisition of Validus Re, the treaty reinsurance business of American International Group, Inc. (“AIG”), which includes Validus Reinsurance Ltd. and its consolidated subsidiaries, AlphaCat Managers Ltd., and all renewal rights to the Assumed Reinsurance Treaty Unit of Talbot (together, “Validus Re”). RenaissanceRe announced on May 22, 2023, that it had entered into a definitive agreement with AIG to acquire Validus Re. Kevin J. O’Donnell, President and Chief Executive Officer of RenaissanceRe, said: “We are delighted to complete the Validus Re acquisition today. We are bringing together two of the best reinsurance underwriters and look forward to the risk expertise and scale that our combined company will bring to our customers. This transaction accelerates our strategy, expands our ability to match efficient capital to desirable risk, and positively impacts each of our three drivers of profit – underwriting, fee, and investment income. We are pleased to extend our partnership with AIG and have strong conviction that this transaction will create both immediate and long-term value for our shareholders.” Sidley Austin LLP and Oxbow Partners acted as legal counsel and integration consultant, respectively, for RenaissanceRe. About RenaissanceRe RenaissanceRe is a global provider of reinsurance and insurance that specializes in matching well-structured risks with efficient sources of capital. The Company provides property, casualty and specialty reinsurance and certain insurance solutions to customers, principally through intermediaries. Established in 1993, the Company has offices in Bermuda, Australia, Canada, Ireland, Singapore, Switzerland, the United Kingdom and the United States. Cautionary Statement Regarding Forward-Looking Statements Any forward-looking statements made in this Press Release reflect RenaissanceRe’s current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company may also make forward-looking statements with respect to its business and industry, such as those relating to its strategy and management objectives, plans and expectations regarding its response and ability to adapt to changing economic conditions, market standing and product volumes, estimates of net negative impact and insured losses from loss events, and the Validus Acquisition and its impact on the Company’s business, among other things. These statements are subject to numerous factors that could cause actual results to differ materially from those addressed by such forward-looking statements, including the following: the Company’s exposure to natural and non-natural catastrophic events and circumstances and the variance it may cause in the Company’s financial results; the effect of climate change on the Company’s business, including the trend towards increasingly frequent and severe climate events; the effectiveness of the Company’s claims and claim expense reserving process; the effect of emerging claims and coverage issues; the performance of the Company’s investment portfolio and financial market volatility; the effects of inflation; difficulties in integrating the acquired business from the Validus Acquisition; risk that the due diligence process that the Company undertook in connection with the Validus Acquisition may not have revealed all facts that may be relevant in connection with the Validus Acquisition; that historical financial statements of Validus Reinsurance Ltd. are not representative of the future financial position, future results of operations or future cash flows of Validus Reinsurance Ltd. following the Validus Acquisition; the ability of the Company’s ceding companies and delegated authority counterparties to accurately assess the risks they underwrite; the Company’s ability to maintain its financial strength ratings; the highly competitive nature of the Company’s industry and its reliance on a small number of brokers; collection on claimed retrocessional coverage, and new retrocessional reinsurance being available on acceptable terms or at all; the historically cyclical nature of the (re)insurance industries; the Company’s ability to attract and retain key executives and employees; the Company’s ability to successfully implement its business strategies and initiatives; the Company’s exposure to credit loss from counterparties; the Company’s need to make many estimates and judgments in the preparation of its financial statements; the Company’s ability to effectively manage capital on behalf of investors in joint ventures or other entities it manages; changes to the accounting rules and regulatory systems applicable to the Company’s business, including changes in Bermuda and U.S. laws and regulations; other political, regulatory or industry initiatives adversely impacting the Company; the Company’s ability to comply with covenants in its debt agreements; the effect of adverse economic factors, including changes in prevailing interest rates and recession or the perception that recession may occur; the effect of cybersecurity risks, including technology breaches or failure; a contention by the U.S. Internal Revenue Service that any of the Company’s Bermuda subsidiaries are subject to taxation in the U.S.; the effects of possible future tax reform legislation and regulations in the jurisdictions in which the Company operates; the Company’s ability to determine any impairments taken on its investments; the Company’s ability to raise capital on acceptable terms, including through debt instruments, the capital markets, and third party investments in our joint ventures and managed funds; the Company’s ability to comply with applicable sanctions and foreign corrupt practices laws; the Company’s dependence on the ability of its operating subsidiaries to declare and pay dividends; and other factors affecting future results disclosed in RenaissanceRe’s filings with the SEC, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. View source version on businesswire.com:https://www.businesswire.com/news/home/20231031043114/en/ |
2024-10-28 | ETF Daily News | Everest Group (NYSE:EG) Releases Earnings Results, Beats Estimates By $3.96 EPS | Everest Group (NYSE:EG–Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $14.14 EPS for the quarter, topping analysts’ consensus estimates of $10.18 by $3.96, reports. Everest Group had a return on equity of 21.85% and a net margin of 15.57%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.83 billion. EG stocktraded up $2.36 during mid-day trading on Friday, reaching $385.58. The company had a trading volume of 648,815 shares, compared to its average volume of 321,788. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.36 and a quick ratio of 0.37. The stock’s 50 day moving average is $379.57. The company has a market capitalization of $16.73 billion, a P/E ratio of 7.16, a price-to-earnings-growth ratio of 0.21 and a beta of 0.59. Everest Group has a 52 week low of $303.71 and a 52 week high of $410.74. The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 1.82%. This is an increase from Everest Group’s previous quarterly dividend of $1.65. The ex-dividend date of this dividend was Monday, September 18th. Everest Group’s dividend payout ratio (DPR) is currently 13.00%. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverA number of research analysts have recently commented on EG shares. The Goldman Sachs Group began coverage on Everest Group in a report on Friday, September 8th. They set a “buy” rating and a $449.00 price target for the company. Morgan Stanley boosted their price objective on Everest Group from $429.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Citigroup upped their price target on Everest Group from $408.00 to $447.00 and gave the company a “buy” rating in a research report on Monday, October 9th. Jefferies Financial Group upped their price target on Everest Group from $429.00 to $449.00 in a research report on Friday, October 6th. Finally, Wells Fargo & Company upped their price target on Everest Group from $452.00 to $461.00 and gave the company an “overweight” rating in a research report on Tuesday, October 17th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Everest Group presently has a consensus rating of “Buy” and a consensus target price of $451.00. Get Our Latest Stock Analysis on EG (Get Free Report) Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom. |
2024-10-18 | Marketscreener.com | AXIS Capital : Announces Retirements of Chief People Officer Noreen McMullan and Wholesale CEO Carlton Maner | AppointsLisaPariottobecomefutureChiefPeopleOfficer PEMBROKE, Bermuda, Oct18, 2023 - AXIS Capital Holdings Limited ("AXIS Capital" or the "Company") (NYSE: AXS) today announced that two of its tenured leaders, Chief People Officer Noreen McMullan and AXIS Wholesale CEO Carlton Maner, have decided to retire. Ms. McMullan will be succeeded by Lisa Pariot who will become Chief People Officer on January 1, 2024. Following the transition, Ms. McMullan will continue with AXIS through March 31, 2024, serving as a strategic advisor to the Company. Ms. Pariot has served as a member of the HR leadership team for eight years, most recently acting as Head of People Programs and Rewards. Mr. Maner will retire at the end of this year and, in the months ahead, will work in partnership with Head of North America Mike McKenna to ensure a smooth transition. "Today we are announcing the retirement of two widely respected and highly valued leaders within the AXIS organization, individuals who have contributed so much to our firm as well as the broader industry," said Vince Tizzio, President and CEO of AXIS Capital. "We express our profound appreciation and gratitude to Noreen and Carlton for their exceptional leadership and contributions to AXIS, our people, and the larger profession. We are also very pleased to announce the promotion of Lisa Pariot, a talented leader who will only further grow our efforts to build a best-in- class HR function." Added Mr. Tizzio, "During her nearly ten-year tenure leading human resources at AXIS, Noreen has transformed and modernized the function while directly aligning our culture and talent management strategy with our business strategy. A trusted leader and partner, she guided the introduction of best practice approaches that have been integral in building a positive workplace environment and employer brand that makes AXIS stand apart in the industry." "A trailblazer within AXIS and the broader insurance profession, Carlton played a foundational role in launching and growing AXIS, and building our US Wholesale and E&S insurance business from the ground up. In addition to his contributions to AXIS, Carlton is a recognized leader within our industry and an impassioned advocate for improving diversity, equity, and inclusion within the profession, and in promoting careers in insurance to young professionals," said Mr. Tizzio. AboutAXISCapital AXIS Capital, through its operating subsidiaries, is a global specialty underwriter and provider of insurance and reinsurance solutions. The Company has shareholders' equity of $5.0 billion at June 30, 2023, and locations in Bermuda, the United States, Europe, Singapore and Canada. Its operating subsidiaries have been assigned a financial strength rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best. For more information about AXIS Capital, visit our website atwww.axiscapital.com. Follow AXIS Capital onLinkedInandXCorp. Investor ContactMiranda HunterAXIS Capital Holdings Limitedinvestorrelations@axiscapital.com(441) 405-2635 Media ContactNichola LiboroAXIS Capital Holdings Limitednichola.liboro@axiscapital.com(917) 705-4579 Attachments Disclaimer Axis Capital Holdings Limitedpublished this content on18 October 2023and is solely responsible for the information contained therein. Distributed byPublic, unedited and unaltered, on18 October 2023 13:33:31 UTC. |
2024-10-03 | Marketscreener.com | AXIS Capital to Release Third Quarter Financial Results on November 1, 2023 | AXIS Capital Holdings Limited (“AXIS Capital” or the “Company”) (NYSE: AXS) today announced that it expects to release financial results for the third quarter ended September 30, 2023 on Wednesday, November 1, 2023 after the close of the financial markets. Vince Tizzio, President and Chief Executive Officer, and Peter Vogt, Chief Financial Officer, will host an investor teleconference, including a question and answer period, on Thursday, November 2, 2023 at 9:30 a.m. ET to discuss the third quarter results as well as related matters. The teleconference can be accessed by dialing 1-877-883-0383 (U.S. callers), or 1-412-902-6506 (international callers), and entering the passcode 6504226 approximately 10 minutes in advance of the call. A live, listen-only webcast of the call will also be available via the Investor Information section of the Company’s website atwww.axiscapital.com. A replay of the teleconference will be available for two weeks by dialing 1-877-344-7529 (U.S. callers), or 1-412-317-0088 (international callers), and entering the passcode 6757410. The webcast will be archived in the Investor Information section of the Company’s website. About AXIS Capital AXIS Capital, through its operating subsidiaries, is a global specialty underwriter and provider of insurance and reinsurance solutions. The Company has shareholders' equity of $5.0 billion at June 30, 2023, and locations in Bermuda, the United States, Europe, Singapore and Canada. Its operating subsidiaries have been assigned a financial strength rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best. For more information about AXIS Capital, visit our website atwww.axiscapital.com. Follow AXIS Capital onLinkedInandX Corp. View source version on businesswire.com:https://www.businesswire.com/news/home/20231003513159/en/ |
2024-11-01 | Marketscreener.com | RenaissanceRe : Financial Supplement September 2023 | RenaissanceRe Holdings Ltd. Contents Page Basis of Presentation i Financial Highlights 1 Summary Consolidated Financial Statements a. Consolidated Statements of Operations 3 b. Consolidated Balance Sheets 4 Underwriting and Reserves a. Consolidated Segment Underwriting Results 5 b. Consolidated and Segment Underwriting Results - Five Quarter Trend 7 c. Property Segment - Catastrophe and Other Property Underwriting Results 10 d. Gross Premiums Written 12 e. Net Premiums Written 13 f. Net Premiums Earned 14 g. Reserves for Claims and Claim Expenses 15 h. Paid to Incurred Analysis 16 Managed Joint Ventures and Fee Income a. Fee Income 17 b. Fee income - Five Quarter Trend 18 c. Noncontrolling Interests 19 d. DaVinciRe Holdings Ltd. and Subsidiary Consolidated Statements of Operations 21 Investments a. Total Investment Result 22 b. Investments Composition 24 c. Managed Investments - Credit Rating 25 d. Retained Investments - Credit Rating 26 Other Items a. Earnings per Share 27 Comments on Non-GAAP Financial Measures 28 RenaissanceRe Holdings Ltd. Basis of Presentation RenaissanceRe Holdings Ltd. (the "Company" or "RenaissanceRe") is a global provider of reinsurance and insurance that specializes in matching well-structured risks with efficient sources of capital. The Company provides property, casualty and specialty reinsurance and certain insurance solutions to customers, principally through intermediaries. Established in 1993, the Company has offices in Bermuda, Australia, Canada, Ireland, Singapore, Switzerland, the United Kingdom and the United States. This financial supplement includes certain financial measures that are not calculated in accordance with generally accepted accounting principles in the U.S. ("GAAP") including "operating income (loss) available (attributable) to RenaissanceRe common shareholders," "operating income (loss) available (attributable) to RenaissanceRe common shareholders per common share - diluted," "operating return on average common equity - annualized," "tangible book value per common share," "tangible book value per common share plus accumulated dividends," "retained total investment result," "retained investments, at fair value," "retained investments, unrealized gain (loss)" and "operating (income) loss attributable to redeemable noncontrolling interests." A reconciliation of such measures to the most comparable GAAP figures is presented in the attached supplemental financial data. See pages 28 through 35 for "Comments on Non-GAAP Financial Measures." All information contained herein is unaudited. Unless otherwise noted, amounts are in thousands of United States Dollars, except for share and per share amounts and ratio information. Certain prior period comparatives have been reclassified to conform to the current presentation. This supplement is being provided for informational purposes only. It should be read in conjunction with documents filed by RenaissanceRe with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 10- K and its Quarterly Reports on Form 10-Q. Please refer to the Company's website atwww.renre.comfor further information about RenaissanceRe. Cautionary Statement Regarding Forward-Looking Statements Any forward-looking statements made in this Financial Supplement reflect RenaissanceRe's current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company may also make forward-looking statements with respect to its business and industry, such as those relating to its strategy and management objectives, plans and expectations regarding its response and ability to adapt to changing economic conditions, market standing and product volumes, estimates of net negative impact and insured losses from loss events and the acquisition of certain direct and indirect subsidiaries of American International Group, Inc., including Validus Holdings, Ltd., Validus Specialty, LLC, and Validus Reinsurance, Ltd. (the acquisitions, together with the other transactions contemplated by the Stock Purchase Agreement, the "Validus Acquisition") and its impact on the Company's business, among other things. These statements are subject to numerous factors that could cause actual results to differ materially from those set forth in or implied by such forward-looking statements, including the following:the Company's exposure to natural and non-natural catastrophic events i and circumstances and the variance it may cause in the Company's financial results; the effect of climate change on the Company's business, including the trend towards increasingly frequent and severe climate events; the effectiveness of the Company's claims and claim expense reserving process; the effect of emerging claims and coverage issues; the performance of the Company's investment portfolio and financial market volatility; the effects of inflation; difficulties in integrating the acquired business from the Validus Acquisition; risk that the due diligence process that the Company undertook in connection with the Validus Acquisition may not have revealed all facts that may be relevant in connection with the Validus Acquisition; that historical financial statements of Validus Reinsurance Ltd. are not representative of the future financial position, future results of operations or future cash flows of Validus Reinsurance Ltd. following the Validus Acquisition; the ability of the Company's ceding companies and delegated authority counterparties to accurately assess the risks they underwrite; the Company's ability to maintain its financial strength ratings; the highly competitive nature of the Company's industry and its reliance on a small number of brokers; collection on claimed retrocessional coverage, and new retrocessional reinsurance being available on acceptable terms or at all; the historically cyclical nature of the (re)insurance industries; the Company's ability to attract and retain key executives and employees; the Company's ability to successfully implement its business strategies and initiatives; the Company's exposure to credit loss from counterparties; the Company's need to make many estimates and judgments in the preparation of its financial statements; the Company's ability to effectively manage capital on behalf of investors in joint ventures or other entities it manages; changes to the accounting rules and regulatory systems applicable to the Company's business, including changes in Bermuda and U.S. laws and regulations; other political, regulatory or industry initiatives adversely impacting the Company; the Company's ability to comply with covenants in its debt agreements; the effect of adverse economic factors, including changes in prevailing interest rates and recession or the perception that recession may occur; the effect of cybersecurity risks, including technology breaches or failure; a contention by the U.S. Internal Revenue Service that any of the Company's Bermuda subsidiaries are subject to taxation in the U.S.; the effects of possible future tax reform legislation and regulations in the jurisdictions in which the Company operates; the Company's ability to determine any impairments taken on its investments; the Company's ability to raise capital on acceptable terms, including through debt instruments, the capital markets, and third party investments in the Company's joint ventures and managed funds; the Company's ability to comply with applicable sanctions and foreign corrupt practices laws; the Company's dependence on the ability of its operating subsidiaries to declare and pay dividends; and other factors affecting future results disclosed in RenaissanceRe's filings with the SEC, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10- Q. ii RenaissanceRe Holdings Ltd. Financial Highlights Three months ended Nine months ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Net income (loss) available (attributable) to RenaissanceRe common shareholders $ 193,988 $ (825,344) $ 949,075 $ (1,544,670) Operating income (loss) available (attributable) to RenaissanceRe common shareholders(1) $ 422,303 $ (396,674) $ 1,189,746 $ (6,597) Underwriting income Gross premiums written $ 1,618,443 $ 2,220,661 $ 7,060,325 $ 7,628,264 Net premiums written 1,421,260 1,821,711 5,880,766 5,850,544 Underwriting income (loss) 385,804 (683,114) 1,106,438 (166,450) Net claims and claim expense ratio: Current accident year 58.1 % 113.2 % 55.3 % 76.6 % Prior accident years (9.0)% (1.8)% (5.6)% (1.9)% Calendar year 49.1 % 111.4 % 49.7 % 74.7 % Acquisition expense ratio 24.2 % 23.6 % 24.5 % 24.5 % Operating expense ratio 4.7 % 3.7 % 4.6 % 4.4 % Combined ratio 78.0 % 138.7 % 78.8 % 103.6 % Fee income Management fee income $ 44,486 $ 24,989 $ 128,830 $ 82,918 Performance fee income 20,072 739 37,181 5,414 Total fee income $ 64,558 $ 25,728 $ 166,011 $ 88,332 Investment results - managed Net investment income $ 329,108 $ 157,793 $ 876,148 $ 348,695 Net realized and unrealized gains (losses) on investments (228,087) (641,500) (171,417) (1,968,624) Total investment result $ 101,021 $ (483,707) $ 704,731 $ (1,619,929) Total investment return - annualized 2.0 % (8.9)% 4.2 % (10.1)% Investment results - retained(1) Net investment income $ 216,764 $ 110,105 $ 574,088 $ 247,763 Net realized and unrealized gains (losses) on investments (220,486) (453,242) (204,622) (1,613,936) Total investment result $ (3,722) $ (343,137) $ 369,466 $ (1,366,173) Total investment return - annualized 0.0 % (9.6)% 3.1 % (12.7)% (1) See "Comments on Non-GAAP Financial Measures" for a reconciliation of non-GAAP financial measures. 1 Financial Highlights - Per Share Data & ROE Three months ended Nine months ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share - $ 3.81 $ (19.27) $ 20.17 $ (35.84) basic Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share - $ 3.80 $ (19.27) $ 20.13 $ (35.84) diluted Operating income (loss) available (attributable) to RenaissanceRe common shareholders per common $ 8.33 $ (9.27) $ 25.32 $ (0.16) share - diluted(1) Average shares outstanding - basic 50,261 42,837 46,345 43,121 Average shares outstanding - diluted 50,358 42,837 46,451 43,121 Return on average common equity - annualized 11.5 % (72.4)% 22.1 % (40.5)% Operating return on average common equity - annualized(1) 25.0 % (34.8)% 27.7 % (0.2)% September 30, December 31, 2023 2022 Book value per common share $ 133.63 $ 104.65 Tangible book value per common share(1) $ 128.71 $ 98.81 Tangible book value per common share plus accumulated dividends(1) $ 154.85 $ 123.81 Year to date change in book value per common share plus change in accumulated dividends 28.8 % (19.7)% Year to date change in tangible book value per common share plus change in accumulated dividends(1) 31.4 % (20.6)% (1) See "Comments onNon-GAAPFinancial Measures" for a reconciliation of non-GAAP financial measures. 2 Summary Consolidated Financial Statements Consolidated Statements of Operations Three months ended Nine months ended September 30, September 30, September 30, September 30, Revenues 2023 2022 2023 2022 Gross premiums written $ 1,618,443 $2,220,661 $ 7,060,325 $7,628,264 Net premiums written $ 1,421,260 $1,821,711 $ 5,880,766 $5,850,544 Decrease (increase) in unearned premiums 334,616 (54,690) (659,078) (1,140,715) Net premiums earned 1,755,876 1,767,021 5,221,688 4,709,829 Net investment income 329,108 157,793 876,148 348,695 Net foreign exchange gains (losses) (25,886) (1,383) (53,877) (67,690) Equity in earnings (losses) of other ventures 10,842 1,739 28,072 2,732 Other income (loss) (5,866) 2,834 (6,296) 4,950 Net realized and unrealized gains (losses) on investments (228,087) (641,500) (171,417) (1,968,624) Total revenues 1,835,987 1,286,504 5,894,318 3,029,892 Expenses Net claims and claim expenses incurred 861,576 1,967,931 2,593,987 3,515,903 Acquisition expenses 425,745 417,644 1,280,547 1,155,389 Operational expenses 82,751 64,560 240,716 204,987 Corporate expenses 17,143 10,384 53,357 35,238 Interest expense 22,951 12,101 49,980 35,951 Total expenses 1,410,166 2,472,620 4,218,587 4,947,468 Income (loss) before taxes 425,821 (1,186,116) 1,675,731 (1,917,576) Income tax benefit (expense) (9,295) (2,814) (44,139) 64,427 Net income (loss) 416,526 (1,188,930) 1,631,592 (1,853,149) Net (income) loss attributable to redeemable noncontrolling interests (213,695) 372,429 (655,986) 335,010 Net income (loss) attributable to RenaissanceRe 202,831 (816,501) 975,606 (1,518,139) Dividends on preference shares (8,843) (8,843) (26,531) (26,531) Net income (loss) available (attributable) to RenaissanceRe common shareholders $ 193,988 $ (825,344) $ 949,075 $(1,544,670) Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share - basic $ 3.81 $ (19.27) $ 20.17 $ (35.84) Net income (loss) available (attributable) to RenaissanceRe common shareholders per common share - $ 3.80 $ (19.27) $ 20.13 $ (35.84) diluted Operating income (loss) available (attributable) to RenaissanceRe common shareholders per common share - $ 8.33 $ (9.27) $ 25.32 $ (0.16) diluted(1) Return on average common equity - annualized 11.5 % (72.4)% 22.1 % (40.5)% Operating return on average common equity - annualized(1) 25.0 % (34.8)% 27.7 % (0.2)% (1) See "Comments onNon-GAAPFinancial Measures" for a reconciliation of non-GAAP financial measures. 3 Summary Consolidated Financial Statements Consolidated Balance Sheets September 30, December 31, Assets 2023 2022 Fixed maturity investments trading, at fair value - amortized cost $16,754,568 at September 30, 2023 (December 31, 2022 - $15,038,551) $ 16,083,046 $ 14,351,402 Short term investments, at fair value - amortized cost $6,521,007 at September 30, 2023 (December 31, 2022 - $4,671,581) 6,519,207 4,669,272 Equity investments, at fair value 95,342 625,058 Other investments, at fair value 3,167,941 2,494,954 Investments in other ventures, under equity method 101,103 79,750 Total investments 25,966,639 22,220,436 Cash and cash equivalents 1,195,884 1,194,339 Premiums receivable 5,928,809 5,139,471 Prepaid reinsurance premiums 1,028,916 1,021,412 Reinsurance recoverable 4,253,259 4,710,925 Accrued investment income 153,573 121,501 Deferred acquisition costs 1,267,088 1,171,738 Receivable for investments sold 480,727 350,526 Other assets 334,284 384,702 Goodwill and other intangibles 233,897 237,828 Total assets $ 40,843,076 $ 36,552,878 Liabilities, Noncontrolling Interests and Shareholders' Equity Liabilities Reserve for claims and claim expenses $ 15,955,165 $ 15,892,573 Unearned premiums 5,222,496 4,559,107 Debt 1,882,893 1,170,442 Reinsurance balances payable 3,323,606 3,928,281 Payable for investments purchased 811,578 493,776 Other liabilities 396,487 648,036 Total liabilities 27,592,225 26,692,215 Redeemable noncontrolling interests 5,662,234 4,535,389 Shareholders' Equity Preference shares: $1.00 par value - 30,000 shares issued and outstanding at September 30, 2023 (December 31, 2022 - 30,000) 750,000 750,000 Common shares: $1.00 par value - 51,173,930 shares issued and outstanding at September 30, 2023 (December 31, 2022 - 43,717,836) 51,174 43,718 Additional paid-in capital 1,836,742 475,647 Accumulated other comprehensive loss (14,506) (15,462) Retained earnings 4,965,207 4,071,371 Total shareholders' equity attributable to RenaissanceRe 7,588,617 5,325,274 Total liabilities, noncontrolling interests and shareholders' equity $ 40,843,076 $ 36,552,878 Book value per common share $ 133.63 $ 104.65 4 Underwriting and Reserves Consolidated Segment Underwriting Results Three months ended September 30, 2023 Three months ended September 30, 2022 Property Casualty and Total Property Casualty and Total Specialty Specialty Gross premiums written $ 511,012 $ 1,107,431 $ 1,618,443 $ 800,330 $ 1,420,331 $ 2,220,661 Net premiums written $ 444,872 $ 976,388 $ 1,421,260 $ 696,520 $ 1,125,191 $ 1,821,711 Net premiums earned $ 760,365 $ 995,511 $ 1,755,876 $ 839,817 $ 927,204 $ 1,767,021 Net claims and claim expenses incurred 206,361 655,215 861,576 1,372,583 595,348 1,967,931 Acquisition expenses 143,348 282,397 425,745 141,675 275,969 417,644 Operational expenses 54,624 28,127 82,751 48,158 16,402 64,560 Underwriting income (loss) $ 356,032 $ 29,772 $ 385,804 $ (722,599) $ 39,485 $ (683,114) Net claims and claim expenses incurred: Current accident year $ 350,238 $ 669,285 $ 1,019,523 $ 1,396,842 $ 602,995 $ 1,999,837 Prior accident years (143,877) (14,070) (157,947) (24,259) (7,647) (31,906) Total $ 206,361 $ 655,215 $ 861,576 $ 1,372,583 $ 595,348 $ 1,967,931 Net claims and claim expense ratio: Current accident year 46.1 % 67.2 % 58.1 % 166.3 % 65.0 % 113.2 % Prior accident years (19.0)% (1.4)% (9.0)% (2.9)% (0.8)% (1.8)% Calendar year 27.1 % 65.8 % 49.1 % 163.4 % 64.2 % 111.4 % Acquisition expense ratio 18.9 % 28.4 % 24.2 % 16.9 % 29.7 % 23.6 % Operating expense ratio 7.2 % 2.8 % 4.7 % 5.7 % 1.8 % 3.7 % Combined ratio 53.2 % 97.0 % 78.0 % 186.0 % 95.7 % 138.7 % 5 Underwriting and Reserves Consolidated Segment Underwriting Results Nine months ended September 30, 2023 Nine months ended September 30, 2022 Property Casualty and Total Property Casualty and Total Specialty Specialty Gross premiums written $ 3,217,817 $ 3,842,508 $ 7,060,325 $ 3,362,159 $ 4,266,105 $ 7,628,264 Net premiums written $ 2,609,356 $ 3,271,410 $ 5,880,766 $ 2,474,661 $ 3,375,883 $ 5,850,544 Net premiums earned $ 2,206,471 $ 3,015,217 $ 5,221,688 $ 2,081,989 $ 2,627,840 $ 4,709,829 Net claims and claim expenses incurred 675,963 1,918,024 2,593,987 1,804,268 1,711,635 3,515,903 Acquisition expenses 429,273 851,274 1,280,547 406,338 749,051 1,155,389 Operational expenses 165,514 75,202 240,716 144,717 60,270 204,987 Underwriting income (loss) $ 935,721 $ 170,717 $ 1,106,438 $ (273,334) $ 106,884 $ (166,450) Net claims and claim expenses incurred: Current accident year $ 933,172 $ 1,955,612 $ 2,888,784 $ 1,880,337 $ 1,728,262 $ 3,608,599 Prior accident years (257,209) (37,588) (294,797) (76,069) (16,627) (92,696) Total $ 675,963 $ 1,918,024 $ 2,593,987 $ 1,804,268 $ 1,711,635 $ 3,515,903 Net claims and claim expense ratio: Current accident year 42.3 % 64.9 % 55.3 % 90.3 % 65.8 % 76.6 % Prior accident years (11.7)% (1.3)% (5.6)% (3.6)% (0.7)% (1.9)% Calendar year 30.6 % 63.6 % 49.7 % 86.7 % 65.1 % 74.7 % Acquisition expense ratio 19.5 % 28.2 % 24.5 % 19.4 % 28.5 % 24.5 % Operating expense ratio 7.5 % 2.5 % 4.6 % 7.0 % 2.3 % 4.4 % Combined ratio 57.6 % 94.3 % 78.8 % 113.1 % 95.9 % 103.6 % 6 Attachments Disclaimer RenaissanceRe Holdings Ltd.published this content on01 November 2023and is solely responsible for the information contained therein. Distributed byPublic, unedited and unaltered, on01 November 2023 21:05:10 UTC. |
2024-10-02 | Marketscreener.com | Willis Towers Watson Public : WTW appoints Karen Beldy Torborg for dual leadership role in its North America Corporate Risk and Broking (CRB) business | NEW YORK, October 2, 2023 -WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company, today announced the appointment of Karen Beldy Torborg to serve in a dual-hatted role as both Head of Strategic Growth & Portfolio Management and Head of Large Accounts segment within Corporate Risk and Broking (CRB), North America (NA). Beldy Torborg brings tremendous depth of relevant experience to WTW, with a career spanning over 30 years, particularly in M&A and Private Equity, while also focusing on strategic business development and client-centricity. Most recently, Beldy Torborg served as the Global Engagement Partner at Marsh, where she provided strategic risk advice, portfolio insurance program development, and bespoke solutions to clients within the alternative asset investment sector. Prior to that, she spent 26 years growing Marsh's Private Equity and M&A Services division, serving in various leadership roles including Global Specialty Head and North America Practice Leader. Beldy Torborg brings to WTW her resilient industry experience coupled with a strong educational underpinning that includes an MBA from New York University's Stern School of Business. Karen's dual role brings a wealth of unique industry insight, global experience and specialized expertise, with a proven track record," Within her role as Head of Strategic Growth & Portfolio Management with CRB NA, Beldy Torborg assumes the pivotal responsibility of identifying and evaluating acquisition opportunities for the business, aiming at contributing strategic, profitable growth to the overall CRB business. Beldy Torborg, in close collaboration with various WTW senior leaders, will proactively explore industry-specialized prospects within the broking, affinity, MGA, and personal lines sectors across the United States, Canada, and Bermuda. In her capacity as Head of Large Accounts, Beldy Torborg will collaborate closely with Global Client Advocates and Lead Relationship Managers, concentrated on further enhancing WTW's presence and strengthening business relationships across the Fortune 1000 landscape. Reporting directly to Mike Chang, Head of CRB NA, WTW, Beldy Torborg will be based in New York and aims to deliver a seamless approach to navigating both roles. "Karen's dual role brings a wealth of unique industry insight, global experience and specialized expertise, with a proven track record," commented Mike Chang, Head of CRB NA, WTW. "Karen is poised to drive a robust and profitable M&A strategy for CRB NA, while providing specific clients with outstanding guidance. We are excited that she is joining the team and look forward to the invaluable perspective she will bring." At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success-and provide perspective that moves you. Attachments Disclaimer Willis Towers Watson plcpublished this content on02 October 2023and is solely responsible for the information contained therein. Distributed byPublic, unedited and unaltered, on02 October 2023 14:01:15 UTC. |
2024-10-27 | ETF Daily News | Illinois Municipal Retirement Fund Purchases 1,190 Shares of Markel Group Inc. (NYSE:MKL) | Illinois Municipal Retirement Fund grew its position in Markel Group Inc. (NYSE:MKL–Free Report) by 32.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,820 shares of the insurance provider’s stock after purchasing an additional 1,190 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Markel Group were worth $6,667,000 as of its most recent filing with the SEC. Other institutional investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its stake in shares of Markel Group by 20.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,771 shares of the insurance provider’s stock valued at $23,978,000 after purchasing an additional 3,190 shares during the last quarter. Quilter Plc boosted its stake in shares of Markel Group by 14.9% in the 2nd quarter. Quilter Plc now owns 15,184 shares of the insurance provider’s stock valued at $15,066,931,000 after purchasing an additional 1,974 shares during the last quarter. Arlington Partners LLC boosted its stake in shares of Markel Group by 8.5% in the 1st quarter. Arlington Partners LLC now owns 153 shares of the insurance provider’s stock valued at $195,000 after purchasing an additional 12 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Markel Group in the 1st quarter valued at $237,000. Finally, Level Four Advisory Services LLC bought a new position in Markel Group during the first quarter worth $212,000. 76.96% of the stock is owned by institutional investors. Markel Group stockopened at $1,462.51 on Friday. Markel Group Inc. has a 1-year low of $1,160.12 and a 1-year high of $1,560.00. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 10.45 and a beta of 0.76. The firm’s fifty day moving average price is $1,485.52 and its two-hundred day moving average price is $1,414.25. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.28. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverMarkel Group (NYSE:MKL–Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $22.43 earnings per share for the quarter, beating analysts’ consensus estimates of $19.17 by $3.26. Markel Group had a net margin of 12.87% and a return on equity of 8.77%. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.74 billion. On average, equities research analysts predict that Markel Group Inc. will post 84.5 earnings per share for the current fiscal year. A number of equities research analysts have commented on MKL shares. Truist Financial raised their price target on shares of Markel Group from $1,400.00 to $1,550.00 and gave the stock a “hold” rating in a report on Friday, August 4th.StockNews.comstarted coverage on shares of Markel Group in a report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group started coverage on shares of Markel Group in a report on Thursday, September 7th. They issued a “buy” rating and a $1,750.00 price target for the company. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Markel Group presently has an average rating of “Moderate Buy” and an average target price of $1,616.67. Get Our Latest Analysis on MKL In other news, Director Steven A. Markel sold 348 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $1,468.01, for a total transaction of $510,867.48. Following the completion of the sale, the director now owns 69,668 shares in the company, valued at approximately $102,273,320.68. The sale was disclosed in a document filed with the SEC, which is available atthe SEC website. In related news, DirectorSteven A. Markelsold 350 shares of Markel Group stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $1,482.52, for a total value of $518,882.00. Following the sale, the director now owns 70,366 shares of the company’s stock, valued at approximately $104,319,002.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available atthe SEC website. Also, DirectorSteven A. Markelsold 348 shares of Markel Group stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $1,468.01, for a total transaction of $510,867.48. Following the completion of the sale, the director now directly owns 69,668 shares in the company, valued at approximately $102,273,320.68. The disclosure for this sale can be foundhere. Insiders have sold 1,151 shares of company stock valued at $1,698,305 over the last ninety days. Corporate insiders own 1.75% of the company’s stock. (Free Report) Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. The company offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind. Want to see what other hedge funds are holding MKL?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Markel Group Inc. (NYSE:MKL–Free Report). |
2024-10-29 | ETF Daily News | Marathon Asset Management Ltd Sells 5,100 Shares of Markel Group Inc. (NYSE:MKL) | Marathon Asset Management Ltd trimmed its position in shares of Markel Group Inc. (NYSE:MKL–Free Report) by 9.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,700 shares of the insurance provider’s stock after selling 5,100 shares during the period. Markel Group accounts for approximately 1.9% of Marathon Asset Management Ltd’s portfolio, making the stock its 14th largest holding. Marathon Asset Management Ltd owned 0.36% of Markel Group worth $65,978,000 at the end of the most recent reporting period. Several other institutional investors and hedge funds have also bought and sold shares of MKL. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Markel Group by 99,720.0% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 45,671,655 shares of the insurance provider’s stock valued at $63,172,119,000 after purchasing an additional 45,625,901 shares during the period. Morgan Stanley grew its holdings in Markel Group by 521.2% during the fourth quarter. Morgan Stanley now owns 530,597 shares of the insurance provider’s stock valued at $699,057,000 after purchasing an additional 445,182 shares during the period. WealthPlan Investment Management LLC boosted its holdings in shares of Markel Group by 86,597.6% in the second quarter. WealthPlan Investment Management LLC now owns 221,079 shares of the insurance provider’s stock worth $5,582,000 after acquiring an additional 220,824 shares during the period. Norges Bank bought a new position in shares of Markel Group in the fourth quarter worth $182,438,000. Finally, Cooke & Bieler LP bought a new position in shares of Markel Group in the first quarter worth $59,796,000. 76.96% of the stock is owned by institutional investors. A number of equities analysts have recently commented on the company.StockNews.comassumed coverage on Markel Group in a report on Thursday, October 5th. They issued a “buy” rating for the company. Truist Financial raised their price target on Markel Group from $1,400.00 to $1,550.00 and gave the stock a “hold” rating in a report on Friday, August 4th. Finally, Jefferies Financial Group assumed coverage on Markel Group in a report on Thursday, September 7th. They issued a “buy” rating and a $1,750.00 price target for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,616.67. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Analysis on Markel Group NYSE:MKLtraded down $28.89 during trading hours on Friday, hitting $1,432.25. 41,049 shares of the company’s stock traded hands, compared to its average volume of 42,024. The firm has a market cap of $18.99 billion, a P/E ratio of 10.24 and a beta of 0.76. Markel Group Inc. has a 52 week low of $1,165.99 and a 52 week high of $1,560.00. The business’s fifty day simple moving average is $1,484.31 and its two-hundred day simple moving average is $1,415.82. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.28. Markel Group (NYSE:MKL–Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $22.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $19.17 by $3.26. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.74 billion. Markel Group had a return on equity of 8.77% and a net margin of 12.87%. On average, research analysts anticipate that Markel Group Inc. will post 84.5 earnings per share for the current fiscal year. In related news, Director Steven A. Markel sold 350 shares of Markel Group stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $1,482.52, for a total transaction of $518,882.00. Following the completion of the sale, the director now owns 70,366 shares of the company’s stock, valued at $104,319,002.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available throughthis link. In other Markel Group news, DirectorSteven A. Markelsold 350 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $1,482.52, for a total transaction of $518,882.00. Following the sale, the director now owns 70,366 shares in the company, valued at $104,319,002.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available atthe SEC website. Also, CEOThomas Sinnickson Gaynerpurchased 100 shares of the stock in a transaction on Friday, August 4th. The shares were purchased at an average price of $1,479.47 per share, for a total transaction of $147,947.00. Following the transaction, the chief executive officer now directly owns 44,885 shares of the company’s stock, valued at $66,406,010.95. The disclosure for this purchase can be foundhere. Over the last quarter, insiders sold 1,151 shares of company stock valued at $1,698,305. Company insiders own 1.75% of the company’s stock. (Free Report) Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. The company offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind. |
2024-10-29 | ETF Daily News | Paragon Private Wealth Management LLC Sells 190 Shares of Markel Group Inc. (NYSE:MKL) | Paragon Private Wealth Management LLC decreased its holdings in Markel Group Inc. (NYSE:MKL–Free Report) by 52.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 175 shares of the insurance provider’s stock after selling 190 shares during the period. Paragon Private Wealth Management LLC’s holdings in Markel Group were worth $242,000 at the end of the most recent quarter. Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Markel Group by 50.0% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 7 shares during the last quarter. Clearstead Advisors LLC bought a new stake in Markel Group in the first quarter worth $32,000. Venturi Wealth Management LLC purchased a new position in Markel Group during the first quarter worth $34,000. Achmea Investment Management B.V. bought a new position in Markel Group during the first quarter valued at $41,000. Finally, Fred Alger Management LLC raised its stake in shares of Markel Group by 220.0% in the third quarter. Fred Alger Management LLC now owns 48 shares of the insurance provider’s stock valued at $52,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 76.96% of the company’s stock. A number of equities analysts recently commented on MKL shares. Truist Financial lifted their price target on shares of Markel Group from $1,400.00 to $1,550.00 and gave the stock a “hold” rating in a research note on Friday, August 4th.StockNews.comassumed coverage on Markel Group in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group started coverage on Markel Group in a report on Thursday, September 7th. They set a “buy” rating and a $1,750.00 price objective for the company. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Markel Group has a consensus rating of “Moderate Buy” and an average target price of $1,616.67. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverCheck Out Our Latest Stock Analysis on Markel Group Shares ofMKL stockopened at $1,432.25 on Friday. The company has a market capitalization of $18.99 billion, a P/E ratio of 10.24 and a beta of 0.76. The company’s 50-day simple moving average is $1,484.31 and its two-hundred day simple moving average is $1,415.82. Markel Group Inc. has a one year low of $1,165.99 and a one year high of $1,560.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.64 and a quick ratio of 0.64. Markel Group (NYSE:MKL–Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $22.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $19.17 by $3.26. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.74 billion. Markel Group had a return on equity of 8.77% and a net margin of 12.87%. As a group, equities analysts anticipate that Markel Group Inc. will post 84.5 EPS for the current year. In related news, Director Steven A. Markel sold 348 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $1,468.01, for a total value of $510,867.48. Following the completion of the sale, the director now directly owns 69,668 shares of the company’s stock, valued at $102,273,320.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed throughthis hyperlink. In other news, DirectorSteven A. Markelsold 348 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $1,468.01, for a total value of $510,867.48. Following the completion of the sale, the director now owns 69,668 shares in the company, valued at approximately $102,273,320.68. The transaction was disclosed in a document filed with the SEC, which is available atthe SEC website. Also, CEOThomas Sinnickson Gaynerpurchased 100 shares of the stock in a transaction dated Friday, August 4th. The stock was acquired at an average cost of $1,479.47 per share, with a total value of $147,947.00. Following the transaction, the chief executive officer now directly owns 44,885 shares in the company, valued at approximately $66,406,010.95. The disclosure for this purchase can be foundhere. In the last 90 days, insiders have sold 1,151 shares of company stock valued at $1,698,305. 1.75% of the stock is currently owned by corporate insiders. (Free Report) Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. The company offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind. Want to see what other hedge funds are holding MKL?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Markel Group Inc. (NYSE:MKL–Free Report). |
2024-10-28 | ETF Daily News | Markel Group Inc. (NYSE:MKL) Shares Sold by AMG National Trust Bank | AMG National Trust Bank reduced its position in shares of Markel Group Inc. (NYSE:MKL–Free Report) by 84.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 200 shares of the insurance provider’s stock after selling 1,075 shares during the period. AMG National Trust Bank’s holdings in Markel Group were worth $277,000 at the end of the most recent quarter. Several other hedge funds and other institutional investors have also recently bought and sold shares of MKL. Clearstead Advisors LLC acquired a new stake in Markel Group during the first quarter worth about $32,000. Venturi Wealth Management LLC acquired a new stake in Markel Group during the first quarter worth about $34,000. Achmea Investment Management B.V. acquired a new stake in Markel Group during the first quarter worth about $41,000. Fred Alger Management LLC increased its position in Markel Group by 220.0% during the third quarter. Fred Alger Management LLC now owns 48 shares of the insurance provider’s stock worth $52,000 after purchasing an additional 33 shares during the last quarter. Finally, Barrett & Company Inc. purchased a new position in Markel Group during the first quarter worth about $54,000. 76.96% of the stock is currently owned by institutional investors and hedge funds. NYSE MKLopened at $1,431.78 on Friday. The firm has a 50 day simple moving average of $1,484.31 and a 200-day simple moving average of $1,415.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.64 and a current ratio of 0.64. Markel Group Inc. has a one year low of $1,165.99 and a one year high of $1,560.00. The firm has a market cap of $18.99 billion, a price-to-earnings ratio of 10.23 and a beta of 0.76. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverMarkel Group (NYSE:MKL–Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $22.43 EPS for the quarter, beating the consensus estimate of $19.17 by $3.26. Markel Group had a net margin of 12.87% and a return on equity of 8.77%. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.74 billion. Equities research analysts anticipate that Markel Group Inc. will post 84.5 EPS for the current fiscal year. In other news, CEOThomas Sinnickson Gaynerbought 100 shares of Markel Group stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average price of $1,479.47 per share, with a total value of $147,947.00. Following the completion of the acquisition, the chief executive officer now directly owns 44,885 shares in the company, valued at $66,406,010.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed throughthis hyperlink. In related news, Director Lawrence A. Cunningham acquired 25 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were bought at an average price of $1,460.00 per share, with a total value of $36,500.00. Following the completion of the acquisition, the director now owns 463 shares in the company, valued at $675,980. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available atthis hyperlink. Also, CEOThomas Sinnickson Gayneracquired 100 shares of the business’s stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $1,479.47 per share, for a total transaction of $147,947.00. Following the acquisition, the chief executive officer now owns 44,885 shares of the company’s stock, valued at approximately $66,406,010.95. The disclosure for this purchase can be foundhere. Insiders have sold a total of 1,151 shares of company stock valued at $1,698,305 over the last 90 days. 1.75% of the stock is owned by corporate insiders. Several research analysts have weighed in on MKL shares. Truist Financial increased their target price on shares of Markel Group from $1,400.00 to $1,550.00 and gave the stock a “hold” rating in a research note on Friday, August 4th. Jefferies Financial Group started coverage on shares of Markel Group in a research note on Thursday, September 7th. They set a “buy” rating and a $1,750.00 target price for the company. Finally,StockNews.comstarted coverage on shares of Markel Group in a research note on Thursday, October 5th. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Markel Group has a consensus rating of “Moderate Buy” and a consensus target price of $1,616.67. Get Our Latest Research Report on MKL (Free Report) Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. The company offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind. Want to see what other hedge funds are holding MKL?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Markel Group Inc. (NYSE:MKL–Free Report). |
2024-10-31 | ETF Daily News | Markel Group Inc. (NYSE:MKL) is Anchor Capital Advisors LLC’s 5th Largest Position | Anchor Capital Advisors LLC lowered its stake in shares of Markel Group Inc. (NYSE:MKL–Free Report) by 3.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 52,872 shares of the insurance provider’s stock after selling 1,653 shares during the period. Markel Group comprises about 1.9% of Anchor Capital Advisors LLC’s portfolio, making the stock its 5th largest holding. Anchor Capital Advisors LLC owned 0.40% of Markel Group worth $73,132,000 as of its most recent filing with the SEC. Other institutional investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System increased its stake in shares of Markel Group by 20.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,771 shares of the insurance provider’s stock valued at $23,978,000 after purchasing an additional 3,190 shares in the last quarter. Quilter Plc increased its stake in shares of Markel Group by 14.9% in the 2nd quarter. Quilter Plc now owns 15,184 shares of the insurance provider’s stock valued at $15,066,931,000 after purchasing an additional 1,974 shares in the last quarter. Arlington Partners LLC increased its stake in shares of Markel Group by 8.5% in the 1st quarter. Arlington Partners LLC now owns 153 shares of the insurance provider’s stock valued at $195,000 after purchasing an additional 12 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Markel Group in the 1st quarter valued at about $237,000. Finally, Level Four Advisory Services LLC purchased a new position in shares of Markel Group in the 1st quarter valued at about $212,000. Hedge funds and other institutional investors own 76.96% of the company’s stock. In related news, Director Lawrence A. Cunningham bought 25 shares of the stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average cost of $1,460.00 per share, for a total transaction of $36,500.00. Following the acquisition, the director now directly owns 463 shares in the company, valued at approximately $675,980. The acquisition was disclosed in a document filed with the SEC, which can be accessed throughthis hyperlink. In other Markel Group news, Director Lawrence A. Cunningham acquired 25 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average cost of $1,460.00 per share, for a total transaction of $36,500.00. Following the completion of the acquisition, the director now owns 463 shares of the company’s stock, valued at approximately $675,980. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available atthis hyperlink. Also, CEOThomas Sinnickson Gayneracquired 100 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was acquired at an average price of $1,479.47 per share, for a total transaction of $147,947.00. Following the completion of the acquisition, the chief executive officer now directly owns 44,885 shares of the company’s stock, valued at approximately $66,406,010.95. The disclosure for this purchase can be foundhere. Insiders have sold a total of 1,151 shares of company stock worth $1,698,305 in the last ninety days. Insiders own 1.75% of the company’s stock. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverSeveral equities analysts recently weighed in on MKL shares. Truist Financial lifted their price target on Markel Group from $1,400.00 to $1,550.00 and gave the company a “hold” rating in a research note on Friday, August 4th. Jefferies Financial Group started coverage on Markel Group in a report on Thursday, September 7th. They issued a “buy” rating and a $1,750.00 price objective on the stock. Finally,StockNews.comstarted coverage on Markel Group in a report on Thursday, October 5th. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Markel Group presently has an average rating of “Moderate Buy” and a consensus price target of $1,616.67. Get Our Latest Report on MKL Shares ofMarkel Group stocktraded up $5.60 on Tuesday, hitting $1,462.86. 2,873 shares of the company were exchanged, compared to its average volume of 36,773. The stock has a market capitalization of $19.40 billion, a price-to-earnings ratio of 10.47 and a beta of 0.76. The company has a 50-day moving average price of $1,483.95 and a 200 day moving average price of $1,417.25. Markel Group Inc. has a 1-year low of $1,182.13 and a 1-year high of $1,560.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.28. Markel Group (NYSE:MKL–Get Free Report) last issued its earnings results on Wednesday, August 2nd. The insurance provider reported $22.43 earnings per share for the quarter, topping the consensus estimate of $19.17 by $3.26. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Markel Group had a return on equity of 8.77% and a net margin of 12.87%. As a group, sell-side analysts predict that Markel Group Inc. will post 84.5 earnings per share for the current fiscal year. (Free Report) Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. The company offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind. |
2024-10-31 | ETF Daily News | Markel Group Inc. (NYSE:MKL) Shares Sold by Los Angeles Capital Management LLC | Los Angeles Capital Management LLC trimmed its holdings in Markel Group Inc. (NYSE:MKL–Free Report) by 29.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,331 shares of the insurance provider’s stock after selling 3,886 shares during the quarter. Los Angeles Capital Management LLC owned 0.07% of Markel Group worth $12,906,000 as of its most recent filing with the Securities and Exchange Commission. A number of other hedge funds also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Markel Group by 50.0% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 7 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in shares of Markel Group in the first quarter worth approximately $32,000. Venturi Wealth Management LLC purchased a new stake in shares of Markel Group in the first quarter worth approximately $34,000. Achmea Investment Management B.V. purchased a new stake in shares of Markel Group in the first quarter worth approximately $41,000. Finally, Barrett & Company Inc. acquired a new position in Markel Group in the first quarter worth approximately $54,000. 76.96% of the stock is owned by hedge funds and other institutional investors. Several equities analysts have commented on MKL shares. Truist Financial increased their price target on Markel Group from $1,400.00 to $1,550.00 and gave the company a “hold” rating in a report on Friday, August 4th. Jefferies Financial Group started coverage on Markel Group in a report on Thursday, September 7th. They set a “buy” rating and a $1,750.00 price target on the stock. Finally,StockNews.comstarted coverage on Markel Group in a report on Thursday, October 5th. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,616.67. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Research Report on MKL In other news, Director Lawrence A. Cunningham bought 25 shares of Markel Group stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average cost of $1,460.00 per share, with a total value of $36,500.00. Following the completion of the transaction, the director now directly owns 463 shares in the company, valued at $675,980. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed throughthe SEC website. In related news, DirectorSteven A. Markelsold 348 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $1,468.01, for a total value of $510,867.48. Following the completion of the transaction, the director now directly owns 69,668 shares of the company’s stock, valued at $102,273,320.68. The sale was disclosed in a document filed with the SEC, which can be accessed throughthe SEC website. Also, Director Lawrence A. Cunningham bought 25 shares of Markel Group stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average cost of $1,460.00 per share, with a total value of $36,500.00. Following the completion of the transaction, the director now owns 463 shares of the company’s stock, valued at $675,980. The disclosure for this purchase can be foundhere. Insiders sold a total of 1,151 shares of company stock valued at $1,698,305 over the last ninety days. 1.75% of the stock is owned by company insiders. Shares ofMarkel Group stockopened at $1,457.66 on Tuesday. The company’s fifty day simple moving average is $1,483.95 and its 200-day simple moving average is $1,417.25. The company has a market cap of $19.33 billion, a price-to-earnings ratio of 10.42 and a beta of 0.76. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.28. Markel Group Inc. has a 1 year low of $1,182.13 and a 1 year high of $1,560.00. Markel Group (NYSE:MKL–Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $22.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $19.17 by $3.26. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.74 billion. Markel Group had a net margin of 12.87% and a return on equity of 8.77%. As a group, sell-side analysts expect that Markel Group Inc. will post 84.5 EPS for the current year. (Free Report) Markel Group Inc, a diverse financial holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, rest of Europe, Canada, the Asia Pacific, and the Middle East. The company offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind. Want to see what other hedge funds are holding MKL?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Markel Group Inc. (NYSE:MKL–Free Report). |
2024-10-23 | Phys.Org | Residents unprepared for wildland fires, face barriers in implementing prevention measures: Study | This year, Canada saw the worst wildfire season in its history, with fires destroying homes, displacing thousands of residents, and burning the largest area since contemporary records began in 1983. Much of this damage to communities could be reduced with better wildfire preparedness—but wildland urban interface (WUI) communities often face significant barriers in implementing these improvements, according to a study by York University's Disaster and Emergency Management researchers.According to the study,Determinants of residential wildfire mitigation uptake: A scoping review, 2013–2022, published in theFire Safety Journal, there are many residentialwildfiremitigation and educational programs to protectresidential communitiesfrom wildfires and to help prevent related disasters."Unfortunately, knowing how to protect and mitigate the risk to WUI communities from wildfire is not sufficient," says Professor Eric B. Kennedy in the Faculty of Liberal Arts and Professional Studies, who co-authored the study. "Understanding what will lead to adoption of prevention measures is a high-priority issue to better prepare for future wildfire seasons."These kinds of studies—known as scoping reviews—help to identify patterns and consensus in scientific research. Kennedy's co-author and York graduate Sarah Cowan presented the results today at the 14th International Symposium on Fire Safety Science, IAFSS2023, held in Tsukuba, Japan. She highlighted that based on their review of 78 academic journal articles published in the last decade, several individual and social factors that contribute to a lack of preparedness were identified."We found a number of things that might help to increase wildfire preparedness. For example, many studies that we reviewed documented how the lack of money, time, resources orphysical abilitycan impair the ability to make improvements to a property," highlights wildfires researcher Kennedy."For instance, many of the home improvements can be expensive, and if you don't have the money, financial support, or even support from yourinsurance companywith incorporating improvements during rebuilding, it can be really challenging to make a difference. Same thing if we have an aging population. Cutting back vegetation or emptying and cleaning your eavestroughs can be physically demanding."The authors saw a pattern in how some residential organizations can negatively impact wildlife preparedness."Studies also showed that rules and norms set by some homeowners' associations can sometimes make properties more vulnerable and more likely to burn," says Kennedy. "For instance, if they were trying to preserve certain aesthetics, they might use materials that burn more easily or capture embers from nearby fires."He adds that homeowners' associations and municipalities should ensure building codes are in line with best practices to prevent such disasters."There really is an opportunity to broaden out the locations where these studies are being done. We need more research with more communities to help us understand how to develop solutions that can work across diverse contexts," Kennedy observes.The authors also note that a majority of the studies on this topic have been done in Australia, Canada and the US. |
2024-10-27 | Marketscreener.com | Shares for Debt Issuance and Correction | VANCOUVER, BC,Oct. 27, 2023/PRNewswire/ - Awalé Resources Limited ("Awalé" or the "Company") (TSXV: ARIC) wishes to announce that it has issued the balance of 1,812,230 shares in settlement of outstanding debt. Requiring shareholder approval obtained onSeptember 6th, the Company has issued an aggregate of 3,978,882 shares in settlement of$477,465of debt. The recent shares issued are subject to a hold period trading restriction expiringFebruary 21, 2024. Additionally, the Company wishes to clarify that in its news release datedMay 24, 2023it incorrectly stated that its incentive stock options granted were exercisable at$0.20. The 3,605,000 options granted are exercisable at$0.12per share until expiry. Awalé is a diligent and systematic mineral exploration company focused on the discovery of large high-grade gold and copper-gold deposits. The Company currently undertakes exploration activities in the underexplored parts of Côte d'Ivoire. Awalé's exploration success to date has culminated in a fully funded earn-in Joint Venture with Newmont covering one permit and one application (the "Odienné Project JV") within the greater Odienné Copper-Gold Project in the Northwest of Côte d'Ivoire, where three significant gold and gold-copper-silver-molybdenum discoveries have been made. The Sceptre East and Charger discoveries have significant scope for growth with future discovery and resource development drilling. The project has multiple pipeline prospects that have similar geochemical fingerprints to Iron Oxide Copper Gold ("IOCG") and intrusive related mineral systems. The 400km2of granted tenure and 400km2under application remains underexplored and offers significant upside potential. The Odienné Project JV forms a solid foundation for the Company to continue exploring in a pro-mining jurisdiction that offers significant potential for district scale discoveries. ON BEHALF OF THE BOARDAWALE RESOURCES LIMITED Andrew Chubb, CEO and Director Forward‐Looking Information This press release contains forward‐looking information within the meaning of Canadian securities laws (collectively "forward‐looking statements"). Forward‐looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward‐looking statements. Forward‐looking statements in this press release include but are not limited to statements regarding the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, planned drilling, commencement of operations, Although the Company believes any forward‐looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward‐looking statements by the Company are not guarantees of future results or performance and that actual results may differ materially from those in forward‐ looking statements as a result of various factors, including the potential inability to obtain required regulatory approvals and satisfy other applicable closing conditions; possible adverse impacts due the global outbreak of COVID‐19; the Company's inability to generate sufficient cash flow or raise sufficient additional financing requirements; volatility in metals prices; the ability of the Company to retain its key management employees and skilled and experienced personnel; conflicts of interest; litigation or other administrative proceedings brought against the Company; actual orallegedbreaches of governance processes or instances offraud, bribery or corruption; exploration, development and mining risks and the inherently dangerous nature of the mining industry, and the risk of inadequate insurance or inability to obtain insurance to cover these risks and other risks and uncertainties; property and mineral title risks including defective title to mineral claims or property; changes in national and local government legislation, taxation, controls, regulations and political or economic developments inCanadaand Côte d'Ivoire; equipment shortages and the ability of the Company to acquire necessary access rights and infrastructure for its mineral properties; environmental regulations and the ability to obtain and maintain necessary permits, including environmental authorizations and water use licences; extreme competition in the mineral exploration industry; delays in obtaining, or a failure to obtain, permits necessary for current or future operations or failures to comply with the terms of such permits; risks of doing business in Côte d'Ivoire, including but not limited to, labour, economic and political instability and potential changes to and failures to comply with legislation; the Company's common shares may be delisted from the TSX Venture Exchange if it cannot maintain compliance with the applicable listing requirements; and other risk factors described other filings with Canadian securities regulators, which may be viewed atwww.sedar.com. Any forward‐looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward‐looking statement, whether because of new information, future events or results or otherwise. Cautionary Statement NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE View original content:https://www.prnewswire.com/news-releases/shares-for-debt-issuance-and-correction-301970371.html SOURCE Awale Resources |
2024-10-06 | Marketscreener.com | Greenland Resources Signs a Letter of Intent With Outokumpu to Strengthen Their Future Supply Chain of Low-Emission High-Quality Molybdenum | Greenland Resources Inc. (NEO: MOLY | FSE: M0LY) (“Greenland Resources” or the “Company”) is pleased to announce the Company has signed a letter of intent (“LOI”) with Outokumpu Europe Oy (“Outokumpu”) for the supply of a significant amount of molybdenum from the Malmbjerg molybdenum project (the “Project”). Outokumpu is a major global stainless steel producer and one of the largest molybdenum consumers worldwide and has a long history as a mining company before focusing on stainless steel. Greenland Resources sees a very good fit on Outokumpu and looks forward to continuing negotiations on further detailed cooperation. A joint press release from Outokumpu can be found in their website atwww.outokumpu.com. This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20231006198788/en/ Outokumpu, the global leader in sustainable stainless steel, has been exploring opportunities to secure sustainable molybdenum supplies from western suppliers – as a part of its long-term strategy for value-chain integration. Molybdenum is a critical and strategically important raw material for Outokumpu’s stainless steel production. Greenland Resources has therefore signed an LOI with Outokumpu, with the goal of providing molybdenum oxide and carbon-free briquettes from the Project. Greenland Resources is developing one of the highest grade molybdenum deposits in the world with an ore body that contains very few deleterious elements, in a high ESG standard jurisdiction part of Denmark, some 2,300 km west of Helsinki. The Project is supported by European Institute of Innovation and Technology (EIT) RawMaterials and European Raw Material Alliance (ERMA), a body of the European Union, as per their press release ofSeptember 23, 2023. The Project is an open-pit molybdenum mine that could supply around 25% of the European molybdenum demand. Europe is the second largest molybdenum user worldwide and has no production of its own. The Project is planned to have a low footprint due to modularized infrastructure, low CO2emissions, low aquatic disturbance and clean contained tailings. The transport of 35,000 tonnes of ore per day uses a gravity based aerial rope conveyor that requires no energy and therefore generates no carbon emissions and generates electricity from braking. Further information on the environmentally friendly mine design of the Project can be viewed in thisvideo on the project. “The carbon footprint of Outokumpu’s stainless steel is already the lowest in the industry. It is a competitive advantage for us, and we want to drive green transition and further decarbonize our product – and the whole industry. Cooperation within our value chain allows us to reduce our supply chain emissions, and at the same time we also want to ensure access to the most sustainable molybdenum suppliers like the Canadian company Greenland Resources. Long-term cooperation with Greenland Resources could also provide us an access to a stable supply of molybdenum and protect us from volatile market pricing and supply. We are excited about the collaboration and are looking forward to continue the good dialogue aiming at a binding long-term cooperation,” saysMarc-Simon Schaar, Chief Procurement Officer at Outokumpu. “We plan to extract quality molybdenum with high ESG standards from Greenland, a jurisdiction that is not only part of the kingdom of Denmark but has very similar living standards as Finland. The Malmbjerg primary molybdenum deposit is one of the richest and cleanest of its kind. The resulting ferroalloys are perfectly suited to be used in high quality steels produced by Outokumpu. Outokumpu will be able to source a long-term reliable supply of molybdenum oxide and carbon-free briquettes, know from where every single pound of molybdenum is being extracted, and can follow the high ESG standards over the 20-year mine life. Adding to EU circularity, the extraction will be done in an associate EU country, the processing of the concentrate and steel production will also be done in the EU; and a significant part of the mining equipment, team and funding will be EU sourced,” saysGreenland Resources Chairman Dr Ruben Shiffman. About Outokumpu Outokumpu is the global leader in stainless steel. The foundation of Outokumpu’s business is its ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Outokumpu’s customers use it to create civilization’s basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs approximately 8,500 professionals in close to 30 countries, with headquarters in Helsinki, Finland and shares listed on Nasdaq Helsinki.www.outokumpu.com About Greenland Resources Inc. Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned world-class Climax type pure molybdenum deposit located in central east Greenland. The Malmbjerg molybdenum project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from a NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with Proven and Probable Reserves of 245 million tonnes at 0.176% MoS2, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS2, approximately 25% of EU total yearly consumption. The Project had a previous exploitation license granted in 2009. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site (www.greenlandresources.ca) and our Canadian regulatory filings on Greenland Resources’ profile atwww.sedarplus.ca About Molybdenum and the European Union Molybdenum is a critical metal used mainly in steel and chemicals that is needed in all technologies in the upcoming green energy transition (World Bank, 2020; IEA, 2021). When added to steel and cast iron, it enhances strength, hardenability, weldability, toughness, temperature strength, and corrosion resistance. Based on data from the International Molybdenum Association and the European Commission Steel Report, the world produced around 576 million pounds of molybdenum in 2021 where the European Union (“EU”) as the second largest steel producer in the world used approximately 24% of global molybdenum supply and has no domestic molybdenum production. To a greater degree, the EU steel dependent industries like the automotive, construction, and engineering, represent around 18% of the EU’s ≈ US$16 trillion GDP. Greenland Resources strategically located Malmbjerg molybdenum project has the potential to supply in and for the EU approximately 25% of the EU consumption, of environmentally friendly high quality molybdenum from a responsible EU Associate country, for decades to come. The high quality of the Malmbjerg ore, having low impurity content in phosphorus, tin, antimony, and arsenic, makes it an ideal source of molybdenum for the high-performance steel industry lead worldwide by Europe, specifically the Scandinavian countries and Germany. Qualified Person Statement The news release has been reviewed and approved by Mr. Jim Steel, P.Geo., M.B.A. a Qualified Person as defined by Canadian Securities AdministratorsNational Instrument 43-101 - “Standards of Disclosure for Mineral Projects”. For further information please contact: Ruben Shiffman, PhD Chairman, PresidentKeith Minty, P.Eng, MBA Engineering and Project ManagementJim Steel, P.Geo, MBA Exploration and Mining GeologyNauja Bianco, M.Pol.Sci. Public and Community RelationsGary Anstey Investor RelationsEric Grossman, CPA, CGA Chief Financial OfficerCorporate office Suite 1410, 181 University Av. Toronto, Ontario, Canada M5H 3M7Telephone +1 647 273 9913Emailinfo@greenlandresourcesinc.comWebwww.greenlandresources.ca Forward Looking Statements This news release contains "forward-looking information" (also referred to as "forward looking statements"), which relate to future events or future performance and reflect management’s current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "hopes", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the Company’s objectives, goals or future plans; construction and engineering initiatives for the Malmbjerg molybdenum project; statements, exploration results, potential mineralization, the estimation of mineral resources and reserves, and their valuation, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: future planned exploration and other activities on the Project; planned energy requirements of the Project; obtaining the permitting on the Project in a timely manner; no adverse changes to the planned operations of the Project; continued favourable relationships with local communities; current EU and other initiatives remaining in place into the future; expected demand for molybdenum in the EU and abroad, including by companies that expressed an interest in purchasing molybdenum; our mineral reserve estimates and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company’s projects, including the Malmbjerg molybdenum project; prices for molybdenum remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner or at all; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the favourable results of the SIA and EIA; favourable local community support for the Project’s development; the projected demand for molybdenum both in the EU and elsewhere, including by companies that expressed an interest in purchasing molybdenum; the current initiatives and programs for resource development in the EU and abroad; the projected and actual status of supply chains, labour market, currency and commodity prices interest rates and inflation; the projected and actual status of the global and Canadian capital markets, fluctuations in molybdenum and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available atwww.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information. Neither the Cboe Canada Exchange nor its regulation services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. View source version on businesswire.com:https://www.businesswire.com/news/home/20231006198788/en/ |
2024-10-04 | The Times of India | Can oil demand weather the $100-a-barrel punch? | Reuters Can the global economy weather oil trading at $100-a-barrel next year? Because a triple-digit price tag wouldn’t just mean elevated energy prices — it would also turbocharge the dollar. The combination of expensive barrels and a rampaging greenback could make crude a wrecking ball in 2024 that keeps inflation high enough to destroy growth around the world. The more oil soars, the pricier the dollar is likely to be, creating a pernicious feedback loop. The longer the cycle continues, the more pain will be felt. The link between petroleum and the greenback is American inflation. As US retail gasoline and diesel prices climb, they could exacerbate domestic inflationary pressures in other sectors, convincing the Federal Reserve to keep interest rates higher — or even higher — for longer. The world’s oil central banker, Saudi Energy Minister Prince Abdulaziz bin Salman, and the dollar central banker, Jerome Powell of the Federal Reserve, are working hand-in-hand in some ways. The result could be a slowdown in oil demand growth in 2024. Japan is perhaps the best example of the oil-and-currency cocktail. The yen is hovering at its weakest exchange rate against the greenback in nearly 35 years, turning petroleum refined products into a small luxury. Last month, the Japanese government was forced to extend fossil-fuel subsidies until the end of the year after the nationwide retail gasoline price jumped to a record high of 186.5 yen ($1.24) a liter, surpassing the peak set in 2008. Agencies For now, the countries most affected by the toxic oil and dollar-strength cocktail aren’t the global centers of energy demand growth. Instead of China and Brazil, think about Kenya and Argentina. Still, on the margins, they matter. Oil traders currently say there’s little sign that global demand is taking a big hit. True, petroleum consumption has hit the brakes in West Africa, but the biggest reason is the removal of subsidies in Nigeria. Elsewhere, demand remains healthy. But if prices remain close to their present levels, the ache would slowly be felt in the world’s engines of demand, notably India . As the rupee has been losing value steadily against the dollar, New Delhi is finding that, in local currency, oil is more costly than when it hit $150 a barrel in 2008. India has already told petroleum-producing countries that prices are too high, Oil Secretary Pankaj Jain said earlier this week. “High prices lead to demand destruction,” he commented. Another unacknowledged problem for emerging markets like India and China: The benefit of their non-aligned oil policy is ending. For most of 2022 and early 2023, New Delhi and Beijing have had access to cheaper crude by buying heavily discounted barrels from Iran, Venezuela and, above all, Russia. By refusing to take sides in the Ukrainian war, India and China have extracted an economic rent. Since then, though, the discounts that Tehran, Caracas and Moscow offered have narrowed considerably. Russian flagship Urals crude, for example, sold at one point in early 2023 at nearly $40 a barrel below Brent, the global benchmark. Now, Urals is selling at about $10 a barrel under Brent. Agencies With the post-pandemic rebound in global fuel use running out of steam, the International Energy Agency anticipates that world oil demand would slow down in 2024 to about an extra one million barrels a day, down from 2.2 million barrels a day in 2023. The expected increase in oil demand growth next year is nonetheless within the historical average for the pre-Covid-19 era. If demand increases by one million barrels a day, as the IEA is expecting now, Saudi Arabia’s Prince Abdulaziz will remain in command of the oil market. The increase would be enough to absorb extra production from the likes of Brazil, Canada, Guyana and the US in 2024, plus OPEC+ nations eager to increase output, particularly the United Arab Emirates, but perhaps also Iraq. But any growth slowdown could overwhelm the market, forcing Riyadh to keep its unilateral output cuts much longer than expected, or face lower prices. In commodity markets, high prices are the cure for high prices. Saudi Arabia and the Fed are giving the global economy plenty of medicine to treat the ailment. In the process, they may kill the patient. Beware. Connect with Experts - Wealth creation made easy Experience Your Economic Times Newspaper, The Digital Way! Saturday, 04 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition Apple Rings Louder: Sept Qtr Sees Record Revenue in India Apple Inc set a new quarterly revenue record in India with a strong double-digit year-on-year growth in the September quarter, chief executive Tim Cook said on Friday, adding that the world’s second-largest smartphone market is a key focus for the Cupertino, US-based company where it currently has a low share. Young & Restless Driving Change at Motown’s Luxe St Luxury car buyers in India are getting younger with two out of five Audi buyers aged less than 40. At Mercedes-Benz India, buyers have an average age of 38 years, the youngest for the German luxury carmaker globally. The scenario is similar at BMW India where consumers aged 35-40 contribute bulk of the sales. Sony Wants Own Exec as Head of Merged Co Instead of Zee’s Goenka Zee Entertainment Enterprises Ltd (ZEEL) chief Punit Goenka’s position as MD and CEO of the proposed Sony-Zee merged entity is on shaky ground as he continues to be under investigation by the Securities and Exchange Board of India (Sebi) for the alleged diversion of funds from ZEEL to promoter entities, people aware of the development told ET. Read More News on oil rise impact oil oil price oil at 100 dollar dollar rise india indian economy inflation (What's moving Sensex and Nifty Track latest market news , stock tips and expert advice on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Download The Economic Times News App to get Daily Market Updates & Live Business News. 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2024-10-14 | The Times of India | Foreigners killed, abducted or missing in Hamas attack | Agencies Scores of foreigners were killed, wounded or taken hostage in Hamas 's attack on Israel last week, which left more than 1,300 dead in Israel. Gaza Strip health authorities have reported that at least 2,215 people have been killed in retaliatory Israeli strikes. According to an AFP count, more than 100 foreigners have been confirmed dead by their national authorities, many of whom also held Israeli nationality. Here is what we know so far: - United States: 27 dead, others abducted, missing - At least 27 US citizens have been killed, US authorities said. An unspecified number of Americans are believed to have been abducted. On Friday, President Joe Biden spoke with the families of 14 Americans who have been missing since the Hamas attack. The White House did not release any details about the call, but Biden told CBS's "60 Minutes" that "we're going to do everything in our power to get them home if we can find them". - Thailand: 24 dead, 16 hostages - Twenty-four Thais have been killed, Prime Minister Srettha Thavisin said Saturday. The foreign ministry said another 16 had been wounded, and 16 are thought to have been abducted. There are approximately 30,000 Thais in Israel, most working in the agricultural sector, according to government figures. - France: 15 dead, many missing - Fifteen French nationals have died, foreign minister Catherine Colonna said Friday. Paris had previously reported seventeen people missing, including four children, according to President Emmanuel Macron. - Nepal: 10 dead - Ten Nepali citizens were killed in Kibbutz Alumim, the Himalayan republic's embassy in Tel Aviv said. The kibbutz was hosting 17 students at the time of the attack. - Argentina: Seven dead, 15 missing - Argentina's foreign ministry confirmed that seven nationals were killed and 15 others were missing. - Ukraine: Seven dead, nine missing - The foreign ministry said Thursday that the number of Ukrainians killed had risen to seven, with another nine missing and nine injured. - Russia: Four dead, six missing - At least four Russian-Israelis have been killed, the Russian embassy in Tel Aviv said. It said it had no information about any hostages but that six Russian nationals were missing. - UK: Four dead - Two Britons have been confirmed dead by their families, and the Israeli embassy in London on Wednesday confirmed two more. The BBC has said that 17 Britons, including children, are dead or missing, a figure that has not been confirmed by the government. - Chile: Four dead, one missing - A Chilean woman has been killed, the authorities confirmed on Thursday. A kibbutz resident has been reported missing, according to the foreign ministry. - Austria: Three dead, two missing - Three Israeli-Austrians were killed in the attacks, authorities said. Two others remain missing. - Belarus: Three dead, one missing - The Belarusian embassy in Tel Aviv announced Thursday that three of its citizens had died "in tragic circumstances" and another was missing. - Canada: Three dead, four missing - Ottawa has said that three Canadians have been killed and four others are missing. - China: Three dead, two missing - China's foreign ministry said Thursday that three Chinese nationals had been killed and two were missing. - Philippines: Three dead, three missing - The Philippines foreign ministry said on Friday that a 49-year-old woman was killed at the music festival. Previously authorities said a 33-year-old woman and a 42-year-old man had been killed at a kibbutz. Three nationals remained missing. - Brazil: Three dead - The foreign ministry said Friday a Brazilian woman had been killed, bringing the total number of deaths to three. - Peru: Two dead, five missing - Two Peruvians were killed and five are missing, the authorities said. - Romania: Two dead - Romania announced on Friday the death of two of its nationals, including an Israeli-Romanian soldier. -- South Africa: Two dead -- The South African government has announced that two of its nationals have been killed. - Australia: One dead - Foreign Minister Penny Wong said on Wednesday an Australian woman had been killed in the attacks. - Azerbaijan: One dead - The foreign ministry said on Wednesday one Azerbaijani national had been killed. - Cambodia: One dead - Cambodia's Prime Minister Hun Manet said one Cambodian student had been killed. - Ireland: One dead - A 22-year-old Irish-Israeli woman died in the attacks, the Irish government confirmed on Wednesday. - Honduras: one dead - Honduran authorities confirmed on Friday the death of one of its nationals - Portugal: One dead, four missing - One Portuguese national has been killed and four are missing, Foreign Minister Gomes Cravinho said Wednesday. - Spain: One dead, one missing - The foreign ministry said on Wednesday one Spanish citizen had been killed. A Spaniard married to a Chilean is missing, according to Chilean authorities. - Switzerland: One dead - An Israeli-Swiss national was killed in the October 7 attack. - Turkey: One dead, one missing - Ankara confirmed on Friday that a Turkish-Israeli citizen, who had moved to Israel with his family in 1972, had been killed. Another is missing. - Colombia: One dead, one missing - Bogota announced the death of one Colombian and said another was missing. - Germany: Several hostages - Several dual German-Israeli nationals have been kidnapped, a German foreign ministry source said. The mother of 22-year-old Shani Louk told news outlet Der Spiegel she had recognised her daughter in online videos showing a woman lying seemingly unconscious face down in the back of a pick-up truck in Gaza filled with armed men. Ricarda Louk told Spiegel that her daughter had been at the nearby music festival. - Mexico: Two hostages - Foreign Minister Alicia Barcena wrote on social media that two Mexicans, a man and a woman, had been taken hostage. - Italy: Three missing - Foreign Minister Antonio Tajani said Thursday that three Israeli-Italians were missing. - Paraguay: Two missing - Two Paraguayan nationals who had been living in Israel are missing, the government said. - Sri Lanka: Two missing - Sri Lanka's ambassador to Israel said on Tuesday that two nationals, a 48-year-old man and a 49-year-old woman, were missing. - Tanzania: Two missing - Tanzania's ambassador to Israel told AFP two Tanzanian nationals were missing. Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on hamas spiegel kibbutz israel two britons srettha thavisin shani louk (Catch all the Business News , Breaking News Events and Latest News Updates on The Economic Times .) Download The Economic Times News App to get Daily Market Updates & Live Business News. ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Riding high on the AI wave, are Indian tech startups missing the bus on innovation? Low index option premiums are like Jezebel, sinking retail traders. Prop traders, punters, too, flail Selling cut-price generics, Mark Cuban is shaking up US pharma. Can Indian drug makers benefit? ‘Use no more than what you need’: How Amazon reached the top of India’s green energy market 3 insights to kick-start your day, featuring subscriptions Zurich Insurance-Kotak Mahindra General Insurance deal Stock Radar: Marico sees profit booking after hitting 52-week high in October; should you buy? 1 2 3 View all Stories |
2024-10-19 | The Times of India | Russian foreign minister meets North Korean leader Kim Jong Un, vows support for Pyongyang | Reuters North Korean leader Kim Jong Un with Russian Foreign Minister Sergei Lavrov Russian Foreign Minister Sergei Lavrov has met North Korean leader Kim Jong Un, Russia 's foreign ministry said on Thursday, as the two countries forge closer ties in the face of what they see as a hostile and aggressive U.S.-led Western camp. Russia's state-run TASS news agency reported that Lavrov's meeting with Kim had lasted over an hour but the ministry did not provide further details. Lavrov, who arrived in Pyongyang on Wednesday, earlier thanked North Korea for backing Russia's military actions in Ukraine and pledged Moscow's "complete support and solidarity" for Kim, Russia's foreign ministry said. Lavrov's visit is seen as setting the stage for a visit by President Vladimir Putin, who has stepped up cooperation with politically isolated North Korea. Speaking at a reception hosted by the North on Wednesday, Lavrov said Moscow strongly valued Pyongyang's "unwavering and principled support" for Russia in the Ukraine war, which it calls a "special military operation". "Likewise the Russian Federation extends its complete support and solidarity with the aspirations of the DPRK," Lavrov said, according to the transcript of the speech released on his ministry's website. DPRK are the initials of the North's official name, the Democratic People's Republic of Korea. After talks with North Korean Foreign Minister Choe Son Hui, Lavrov later told reporters that increased military activities by the United States and its allies Japan and South Korea were a cause for concern, Russia's state-run RIA news agency reported. The U.S. and South Korean navies on Thursday joined those of four other countries - Canada, Belgium, New Zealand and the Philippines - for an anti-naval mine exercise off South Korea's south coast, the South Korean defence ministry said. A U.S. B-52 bomber made a rare landing in South Korea on Thursday to underline the two countries' alliance against North Korea's rising nuclear threats, South Korea's military said. In his comments, Lavrov said North Korea, China and Russia were pursuing a policy of seeking to ease regional tensions. North Korean state media said Lavrov's visit would mark a "significant occasion" in further consolidating relations between Pyongyang and Moscow. Photos released by the Russian foreign ministry showed Lavrov being greeted by people holding flowers and flags of the two countries upon arrival. INCREASED CONTACTS Lavrov's two-day visit comes a month after North Korean leader Kim made a rare trip to Russia, during which he invited Putin to Pyongyang and discussed military cooperation. Russia's TASS news agency said Lavrov might also brief North Korean leaders on the results of Putin's visit this week to China. A U.S. think-tank said on Tuesday that satellite images showed continued activity around a North Korean port near Russia, indicating at least six trips by sea between the two countries since late August. The shipments between the port of Rajin and Russia's Dunai are possibly related to the transfer of North Korean munitions to Russia, the Washington-based Center for Strategic and International Studies (CSIS) said. Separately, a North Korean cargo-passenger ferry that had carried foreign tourists from Japan or South Korea was seen at a drydock at the same port this month, most likely for maintenance, CSIS said. It was not clear whether the vessel would be used to supplement trade activity between Russia and North Korea, it said.The White House said last week that North Korea had recently provided Russia with a shipment of weapons in what it called a troubling development. Kremlin spokesman Dmitry Peskov said the Western allegations were not based on evidence. South Korea and the United States have expressed concern about increased exchanges between Russia and the North, and the allies have stepped up military drills together with Japan in response to the threat from North Korea. South Korea has urged Russia to comply with United Nations resolutions in its exchanges with North Korea, a South Korean foreign ministry spokesperson told a briefing on Thursday. Experience Your Economic Times Newspaper, The Digital Way! Friday, 03 Nov, 2023 Read Complete ePaper » Digital View Print View Wealth Edition WhatsAppening? Telcos Call Out Tech Cos over Biz SMSes An industry grouping representing India’s top three telcos has accused global consumer-technology majors, such as Microsoft and Amazon, of “presumably circumventing and bypassing the legal telecom route” by using WhatsApp and other unregulated platforms to send enterprise messages to customers, causing a likely ₹3,000-crore annual revenue loss to both the Centre and the service providers. Apple asked to Join CERT-In Probe into iPhone Hacking Bid The government has asked Apple to join a probe into the alleged state-sponsored hacking attempts on iPhones belonging to prominent Indians, including some members of the opposition in Parliament, according to S Krishnan, secretary, ministry of electronics and information technology. Go First Lessors Can Take Back Planes, Engines: DGCA to HC The Directorate General of Civil Aviation (DGCA) told the Delhi High Court Thursday that Go First’s leased aircraft and engines can be preregistered and returned to lessors, severely denting the bankrupt airline’s revival prospects. Read More News on North Korea lavrov russia white house united nations Sergei Lavrov (Catch all the Business News , Breaking News Events and Latest News Updates on The Economic Times .) Download The Economic Times News App to get Daily Market Updates & Live Business News. ... more less Prime Exclusives Investment Ideas Stock Report Plus ePaper Wealth Edition Riding high on the AI wave, are Indian tech startups missing the bus on innovation? Low index option premiums are like Jezebel, sinking retail traders. Prop traders, punters, too, flail Selling cut-price generics, Mark Cuban is shaking up US pharma. Can Indian drug makers benefit? ‘Use no more than what you need’: How Amazon reached the top of India’s green energy market 3 insights to kick-start your day, featuring subscriptions Zurich Insurance-Kotak Mahindra General Insurance deal Stock Radar: Marico sees profit booking after hitting 52-week high in October; should you buy? 1 2 3 View all Stories |
2024-10-06 | Marketscreener.com | Allianz and others eye up Aviva for takeover approach - Times | (Alliance News) - Shares in Aviva PLC led the FTSE 100 index early Friday in London, after the Times reported on market rumours of takeover interest in the insurer. Aviva was up 8.9% to 422.89 pence, giving it a market capitalisation of GBP11.53 billion. Citing "City sources", the Times early Friday said at least two potential suitors are looking closely at London-based Aviva. Names of potential bidders mentioned include Germany's Allianz SE, Denmark's Tryg AS, and Canada's Intact Financial Corp, the Times said. One of them is mulling a GBP6 per share offer, the newspaper said. Allianz was up 1.2% at EUR223.35 in Frankfurt early Friday, while Tryg was up 1.1% to DKK131.15 in Copenhagen. Intact closed up 0.6% at CAD199.23 in Toronto on Thursday. Aviva recently completed the process of selling off operations outside its focus areas of the UK, Ireland and Canada. It sold its operations in Italy, Poland and Lithuania to Allianz in 2021. Also in 2021, Tryg and Intact showed their interest in UK targets, jointly acquiring RSA Insurance Group PLC and splitting its operations between them. By Tom Waite, Alliance News editor Comments and questions to newsroom@alliancenews.com Copyright 2023 Alliance News Ltd. All Rights Reserved. |
2024-11-03 | ETF Daily News | Verisk Analytics (NASDAQ:VRSK) Given New $260.00 Price Target at Raymond James | Verisk Analytics (NASDAQ:VRSK–Get Free Report)had its price target boosted by equities research analysts at Raymond James from $255.00 to $260.00 in a report released on Thursday,Benzingareports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Raymond James’ target price suggests a potential upside of 13.11% from the company’s current price. Several other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Verisk Analytics from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Thursday. Wells Fargo & Company began coverage on Verisk Analytics in a report on Monday. They set an “equal weight” rating and a $230.00 price objective for the company. Jefferies Financial Group downgraded shares of Verisk Analytics from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Argus began coverage on shares of Verisk Analytics in a report on Thursday, September 14th. They issued a “buy” rating and a $288.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Verisk Analytics in a report on Thursday, August 3rd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $248.23. View Our Latest Stock Report on Verisk Analytics Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverVRSK stockopened at $229.87 on Thursday. The stock has a 50-day simple moving average of $239.19 and a two-hundred day simple moving average of $227.10. Verisk Analytics has a twelve month low of $162.94 and a twelve month high of $249.26. The firm has a market capitalization of $33.28 billion, a PE ratio of 67.61, a PEG ratio of 3.55 and a beta of 0.85. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 7.22. Verisk Analytics (NASDAQ:VRSK–Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The business services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.47 by $0.05. Verisk Analytics had a net margin of 19.04% and a return on equity of 135.34%. The company had revenue of $677.60 million during the quarter, compared to analysts’ expectations of $663.33 million. During the same quarter in the previous year, the company earned $1.46 earnings per share. Verisk Analytics’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts predict that Verisk Analytics will post 5.71 EPS for the current fiscal year. In other Verisk Analytics news, insiderNicholas Daffansold 1,516 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $246.02, for a total value of $372,966.32. Following the completion of the sale, the insider now owns 43,931 shares in the company, valued at approximately $10,807,904.62. The transaction was disclosed in a document filed with the SEC, which is available atthis link. In other news, Director Therese M. Vaughan sold 6,500 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $232.45, for a total value of $1,510,925.00. Following the completion of the transaction, the director now owns 20,679 shares of the company’s stock, valued at approximately $4,806,833.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed throughthis hyperlink. Also, insiderNicholas Daffansold 1,516 shares of Verisk Analytics stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $246.02, for a total value of $372,966.32. Following the sale, the insider now owns 43,931 shares in the company, valued at $10,807,904.62. The disclosure for this sale can be foundhere. Over the last ninety days, insiders sold 17,193 shares of company stock worth $4,043,134. Company insiders own 1.31% of the company’s stock. Hedge funds have recently modified their holdings of the business. Garrison Asset Management LLC lifted its position in Verisk Analytics by 0.4% during the 2nd quarter. Garrison Asset Management LLC now owns 12,415 shares of the business services provider’s stock valued at $2,846,000 after acquiring an additional 47 shares during the period. Veritable L.P. lifted its holdings in shares of Verisk Analytics by 1.3% during the second quarter. Veritable L.P. now owns 3,737 shares of the business services provider’s stock valued at $845,000 after purchasing an additional 48 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Verisk Analytics by 25.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 244 shares of the business services provider’s stock worth $55,000 after purchasing an additional 49 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in shares of Verisk Analytics by 17.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 338 shares of the business services provider’s stock worth $76,000 after buying an additional 50 shares during the last quarter. Finally, Cadence Bank increased its position in Verisk Analytics by 0.9% during the 2nd quarter. Cadence Bank now owns 5,539 shares of the business services provider’s stock valued at $1,252,000 after buying an additional 50 shares in the last quarter. Institutional investors own 90.81% of the company’s stock. (Get Free Report) Verisk Analytics, Inc provides data analytics solutions to the insurance markets in the United States and internationally. The company provides predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, and various other fields. |
2024-11-03 | ETF Daily News | JPMorgan Chase & Co. Trims Verisk Analytics (NASDAQ:VRSK) Target Price to $255.00 | Verisk Analytics (NASDAQ:VRSK–Get Free Report)had its price target dropped by stock analysts atJPMorgan Chase & Co.from $260.00 to $255.00 in a research report issued to clients and investors on Thursday,Benzingareports. The brokerage presently has an “overweight” rating on the business services provider’s stock.JPMorgan Chase & Co.‘s price objective suggests a potential upside of 10.93% from the company’s current price. A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of Verisk Analytics in a research report on Thursday, August 3rd. Raymond James upped their price target on Verisk Analytics from $225.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Argus initiated coverage on shares of Verisk Analytics in a research report on Thursday, September 14th. They set a “buy” rating and a $288.00 target price on the stock. Bank of America raised their price target on shares of Verisk Analytics from $267.00 to $275.00 and gave the company a “buy” rating in a report on Monday, October 9th. Finally, Truist Financial boosted their price objective on shares of Verisk Analytics from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Verisk Analytics currently has a consensus rating of “Hold” and an average target price of $248.23. Check Out Our Latest Stock Analysis on Verisk Analytics Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverVRSK stockopened at $229.87 on Thursday. Verisk Analytics has a 52 week low of $162.94 and a 52 week high of $249.26. The company has a market cap of $33.28 billion, a price-to-earnings ratio of 67.61, a PEG ratio of 3.55 and a beta of 0.85. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 7.22. The business has a fifty day simple moving average of $239.19 and a 200-day simple moving average of $227.10. Verisk Analytics (NASDAQ:VRSK–Get Free Report) last posted its earnings results on Wednesday, November 1st. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.05. The firm had revenue of $677.60 million during the quarter, compared to the consensus estimate of $663.33 million. Verisk Analytics had a net margin of 19.04% and a return on equity of 135.34%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. On average, equities research analysts expect that Verisk Analytics will post 5.71 EPS for the current year. In related news, insiderNicholas Daffansold 1,516 shares of the firm’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $246.02, for a total transaction of $372,966.32. Following the transaction, the insider now directly owns 43,931 shares in the company, valued at $10,807,904.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible throughthe SEC website. In other Verisk Analytics news, Director Therese M. Vaughan sold 6,129 shares of Verisk Analytics stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $233.02, for a total value of $1,428,179.58. Following the completion of the transaction, the director now directly owns 27,179 shares in the company, valued at $6,333,250.58. The sale was disclosed in a legal filing with the SEC, which is accessible throughthis hyperlink. Also, insiderNicholas Daffansold 1,516 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $246.02, for a total value of $372,966.32. Following the sale, the insider now owns 43,931 shares in the company, valued at $10,807,904.62. The disclosure for this sale can be foundhere. Insiders have sold a total of 17,193 shares of company stock valued at $4,043,134 in the last quarter. Insiders own 1.31% of the company’s stock. Several large investors have recently added to or reduced their stakes in VRSK. Raymond James Trust N.A. lifted its position in Verisk Analytics by 34.7% in the 1st quarter. Raymond James Trust N.A. now owns 4,224 shares of the business services provider’s stock valued at $907,000 after purchasing an additional 1,089 shares during the last quarter. Cibc World Market Inc. boosted its position in Verisk Analytics by 3.2% during the 1st quarter. Cibc World Market Inc. now owns 22,860 shares of the business services provider’s stock worth $4,906,000 after acquiring an additional 716 shares during the period. Prudential PLC acquired a new position in Verisk Analytics during the 1st quarter worth $636,000. National Pension Service increased its holdings in shares of Verisk Analytics by 0.6% during the first quarter. National Pension Service now owns 195,526 shares of the business services provider’s stock valued at $41,966,000 after purchasing an additional 1,093 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of Verisk Analytics by 14.4% during the first quarter. Candriam Luxembourg S.C.A. now owns 9,781 shares of the business services provider’s stock valued at $2,099,000 after purchasing an additional 1,232 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds. (Get Free Report) Verisk Analytics, Inc provides data analytics solutions to the insurance markets in the United States and internationally. The company provides predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, and various other fields. |
2024-11-03 | GlobeNewswire | Sale of Westinghouse Receives Regulatory Approval | BROOKFIELD News, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Brookfield Asset Management (NYSE: BAM, TSX: BAM) and its listed affiliate Brookfield Business Partners (NYSE: BBU; TSX: BBU.UN) today announced the receipt of all required regulatory approvals to close the previously announced sale of Westinghouse Electric Company (the “transaction”) to a consortium of Cameco Corporation and Brookfield Renewable Partners. The transaction is expected to be completed on or about November 7, 2023. Brookfield Asset Management(NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with over $850 billion of assets under management. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors. Brookfield Business Partnersis the flagship listed vehicle of Brookfield’s private equity group. It is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Investors have flexibility to invest in Brookfield Business Partners either through Brookfield Business Corporation (NYSE, TSX: BBUC), a corporation, or Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN), a limited partnership. For more information, please visit https://bbu.brookfield.com. For more information, please contact: Cautionary Statement Regarding Forward-Looking Statements and Information Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws, including the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, include statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of Brookfield Business Partners, as well as regarding recently completed and proposed acquisitions, dispositions, and other transactions, and the outlook for North American and international economies for the current fiscal year and subsequent periods, and include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “seeks”, “intends”, “targets,” “projects”, “forecasts”, “views”, “potential”, “likely” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may,” “will,” “should,” “would” and “could”. Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, investors and other readers should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of Brookfield Business Partners to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: general economic conditions and risks relating to the economic, including unfavorable changes in interest rates, foreign exchange rates, inflation and volatility in the financial markets; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including our ability to complete dispositions and achieve the anticipated benefits therefrom; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the ability to appropriately manage human capital; the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation within the countries in which we operate; governmental investigations; litigation; changes in tax laws; ability to collect amounts owed; catastrophic events, such as earthquakes, hurricanes and pandemics/epidemics including COVID-19; the possible impact of international conflicts, wars and related developments including Russia’s invasion of Ukraine, terrorist acts and cyber terrorism; and other risks and factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States including in the “Risk Factors” section in our most recently filed Form 20-F. We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise. |
2024-11-03 | NPR | Winter is coming. Here's how to spot — and treat — signs of seasonal depression | Experts say anyone can get seasonal affective disorder, though geography and gender may make people more susceptible.Leon Neal/Getty Imageshide caption Experts say anyone can get seasonal affective disorder, though geography and gender may make people more susceptible. The days are getting shorter, darker and colder, at least in the Northern Hemisphere. And while there's a lot to look forward to in winter, it's not necessarily the most wonderful time of the year for everyone. Many people have experienced the "winter blues" in some form or another. But in some cases, those changes in mood, sleep and appetite can be signs of something more serious: aform of depressionknown as seasonal affective disorder, or SAD. "It's normal for people to feel a little worse in the winter," says Dr. Paul Desan, director of the Winter Depression Research Clinic at the Yale School of Medicine. "But for some people, these changes are really severe, and they add up to what is equivalent to a clinical episode of major depression." About 5% of adults in the U.S. experience SAD, and it typically lasts about 40% of the year, theAmerican Psychiatric Association(APA) says. Symptoms are most common in the fall and winter months, and include feelings of sadness, fatigue, cravings of carbs and starch and associated weight gain. Desan tellsMorning Editionthat another roughly 10% of people suffer from subsyndromal SAD, in which they experience some symptoms when the seasons change but do not meet the criteria for clinical depression. Doctors believeSAD is linked to the reduced sunlight exposure and circadian rhythm disruption that are hallmarks of the winter months — that's why you won't find much of it in Florida, Desan says. One thing he doesn't see is a link between SAD and daylight saving time, contrary to popular belief (though the time change, particularly in the spring, can have its ownnegative health effects). "For the most part, people adjust to the new clock, and we don't think Seasonal Affective Disorder would be eliminated if we eliminated daylight saving time," he adds. "Whether some people might be a little more sensitive to that jump in time, sure, that's possible." Desan says even though we're somewhat independent of the outside light-dark cycle — thanks, in large part, to electricity — our bodies can still tell the difference between winter and summer. "We act like we control our mood and our energy ourselves," he says. "But actually, environmental conditions affect us." And that doesn't mean there aren't effective — and natural — treatments. Just as a lack of light can darken our moods, the right dose of brightness can make a big difference. Anyone can experience the symptoms of SAD, though some people might be more predisposed than others. SAD typically starts when a person is between the ages of 18 and 30, according to the APA. Desan says people of all races can get it, though Scandinavian groups may be less prone. Researchers believe the rates of SAD are about three times as high in women as in men, Desan says. He adds that women who tend to have more premenstrual mood changes are more likely to develop SAD, and vice versa. Location — and especially latitude — play an important role, too. SAD is more common in people living far from the equator, Desan says, which is why its rates are higher in the northern part of the U.S. and Canada and lower in the south. Desan says there are a whole bunch of potential factors, and the "excitement of psychiatry is that all of these things add up." "If everything is going wonderfully in your life, maybe you're going to be a little less susceptible to the darkness of winter," he explains. "On the other hand, if you're under different kinds of stresses, I think you are more susceptible." Desan says some people might minimize or dismiss their symptoms, especially if they're hearing from those around them that it's normal to feel worse in the winter. That's unfortunate, he adds, because both SAD and subsyndromal SAD can be very effectively treated in the majority of patients. If you think you may have SAD — especially if you're experiencing significant depression or having thoughts of suicide — you should make an appointment with a mental health professional, Desan says. They can assess your symptoms, make a diagnosis and supervise a course of treatment if necessary. "If your depression is that serious, don't mess around with treating yourself," he adds. "Get someone who's qualified to treat you." For some people, he says, antidepressants might be the right answer. But many patients prefer to try — and have seen success — with a more natural approach. He says the standard starting point is a bright light treatment, in which the patient is exposed to bright light first thing in the morning, ideally before 8 a.m. or even earlier. The light box should be 10,000 lux (a measurement of the intensity of light), which Desan compares to being "outside in July in the middle of the day." Patients should sit in front of the light — about a foot away from it or more, depending on its exact size and brightness — for about 30 minutes (even if they eventually drop down to 15), at the same time each morning, seven days a week. He says the improvement can be dramatic, even if it takes several weeks to reach its full effect. "For many of our patients, this is plain and simple, a miracle," Desan says. "This is a life-changing therapy for many people with Seasonal Affective Disorder or subsyndromal Seasonal Affective Disorder." These devices go for as little as $80, Devan says, though are not likely to be covered by insurance. Hisclinic keeps a listof some of the models that meet its guidelines. He recommends investing in a device that's big and bright enough, because it will play an important role in a patient's morning routine. "Maybe you're going to turn the device on at 7:00 on a table or countertop and you're going to eat breakfast, read the paper, listen to NPR or whatever you do in the morning," he adds. "So you want a device that's big enough that you could sit at a reasonable distance and move around a little bit and still get that exposure." There are other lifestyle changes that might help. TheAmerican Medical Associationrecommends sleep hygiene, stress management, physical activity and spending time outside. Doctors may also recommend vitamin D supplementation for certain patients, depending on their levels. Check out NPR's Life Kitfor more tips on how to recognize and cope with the symptoms of SAD. If you or someone you know is in an emotional crisis, reach out to the National Suicide & Crisis Lifeline by dialing or texting 988. The broadcast interview was produced by Iman Maani and Ana Perez, and edited by Jan Johnson. |
2024-11-03 | ETF Daily News | CVS Health (NYSE:CVS) Price Target Lowered to $86.00 at Royal Bank of Canada | CVS Health (NYSE:CVS–Get Free Report)had its price target cut by equities research analysts at Royal Bank of Canada from $91.00 to $86.00 in a report issued on Thursday,Benzingareports. The brokerage presently has an “outperform” rating on the pharmacy operator’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 23.46% from the stock’s previous close. Other research analysts have also recently issued research reports about the stock. Wolfe Research upgraded shares of CVS Health from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Tuesday, September 12th. Piper Sandler cut their price objective on CVS Health from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, September 1st.StockNews.comupgraded CVS Health from a “hold” rating to a “buy” rating in a report on Tuesday, October 24th. Barclays cut their price target on CVS Health from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Thursday, August 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on CVS Health from $114.00 to $106.00 in a research note on Friday, July 7th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $93.72. View Our Latest Research Report on CVS Health Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverNYSE:CVSopened at $69.66 on Thursday. The stock has a market capitalization of $89.47 billion, a P/E ratio of 10.51, a PEG ratio of 1.78 and a beta of 0.58. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.86. CVS Health has a fifty-two week low of $64.41 and a fifty-two week high of $104.83. The company has a 50 day moving average price of $69.28 and a 200 day moving average price of $70.39. CVS Health (NYSE:CVS–Get Free Report) last posted its earnings results on Wednesday, November 1st. The pharmacy operator reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.08. The firm had revenue of $89.76 billion for the quarter, compared to analyst estimates of $88.29 billion. CVS Health had a return on equity of 15.36% and a net margin of 2.47%. CVS Health’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 EPS. Equities research analysts forecast that CVS Health will post 8.6 EPS for the current year. Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its position in CVS Health by 1.6% during the second quarter. State Street Corp now owns 55,877,387 shares of the pharmacy operator’s stock worth $3,862,804,000 after buying an additional 855,269 shares during the period. Morgan Stanley increased its holdings in shares of CVS Health by 10.9% in the 4th quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock valued at $3,128,984,000 after acquiring an additional 3,311,928 shares during the period. Geode Capital Management LLC raised its position in CVS Health by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 23,325,287 shares of the pharmacy operator’s stock valued at $1,607,886,000 after purchasing an additional 363,384 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in CVS Health by 103,371.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock worth $1,448,877,000 after purchasing an additional 15,532,533 shares during the period. Finally, Norges Bank acquired a new position in CVS Health in the fourth quarter valued at $1,425,416,000. Institutional investors and hedge funds own 75.99% of the company’s stock. (Get Free Report) CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates. |
2024-11-03 | ETF Daily News | Cardinal Health (NYSE:CAH) Hits New 52-Week High on Earnings Beat | Shares of Cardinal Health, Inc. (NYSE:CAH–Get Free Report) reached a new 52-week high during trading on Friday following a better than expected earnings announcement. The stock traded as high as $102.00 and last traded at $99.18, with a volume of 646375 shares. The stock had previously closed at $93.78. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.33. Cardinal Health had a negative return on equity of 67.01% and a net margin of 0.13%. The company had revenue of $54.76 billion during the quarter, compared to the consensus estimate of $54.85 billion. During the same quarter last year, the company earned $1.20 EPS. The company’s quarterly revenue was up 10.4% on a year-over-year basis. The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Tuesday, October 3rd were given a $0.5006 dividend. The ex-dividend date was Monday, October 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.00%. Cardinal Health’s dividend payout ratio is currently 202.02%. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverA number of analysts have commented on CAH shares. Bank of America raised their price objective on Cardinal Health from $91.00 to $99.00 in a research report on Monday, July 17th. JPMorgan Chase & Co. increased their target price on Cardinal Health from $93.00 to $101.00 and gave the stock a “neutral” rating in a report on Wednesday, August 16th. TD Cowen increased their target price on Cardinal Health from $88.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, August 16th.StockNews.cominitiated coverage on Cardinal Health in a report on Thursday, October 5th. They issued a “strong-buy” rating for the company. Finally, TheStreet cut Cardinal Health from a “b-” rating to a “c” rating in a report on Tuesday, August 15th. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $94.69. Get Our Latest Stock Analysis on Cardinal Health In other Cardinal Health news, CAO Mary C. Scherer sold 20,695 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $86.27, for a total value of $1,785,357.65. Following the transaction, the chief accounting officer now directly owns 10,649 shares in the company, valued at approximately $918,689.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed throughthis link. In other Cardinal Health news, insider Jessica L. Mayer sold 30,145 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $90.84, for a total value of $2,738,371.80. Following the transaction, the insider now directly owns 95,533 shares in the company, valued at approximately $8,678,217.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed throughthis link. Also, CAO Mary C. Scherer sold 20,695 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $86.27, for a total value of $1,785,357.65. Following the completion of the transaction, the chief accounting officer now owns 10,649 shares in the company, valued at $918,689.23. The disclosure for this sale can be foundhere. In the last ninety days, insiders have sold 95,052 shares of company stock worth $8,401,034. Insiders own 0.15% of the company’s stock. Several hedge funds and other institutional investors have recently made changes to their positions in CAH. Private Trust Co. NA lifted its holdings in Cardinal Health by 110.9% during the second quarter. Private Trust Co. NA now owns 1,624 shares of the company’s stock worth $154,000 after acquiring an additional 854 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Cardinal Health by 4.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,535 shares of the company’s stock worth $14,159,000 after acquiring an additional 7,431 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Cardinal Health during the first quarter worth about $692,000. LSV Asset Management lifted its holdings in Cardinal Health by 0.3% during the first quarter. LSV Asset Management now owns 2,456,552 shares of the company’s stock worth $185,470,000 after acquiring an additional 7,000 shares in the last quarter. Finally, Strategy Asset Managers LLC bought a new position in Cardinal Health during the first quarter worth about $665,000. 86.01% of the stock is currently owned by institutional investors. The company has a fifty day simple moving average of $89.87 and a two-hundred day simple moving average of $88.71. The stock has a market capitalization of $24.61 billion, a P/E ratio of 94.73, a price-to-earnings-growth ratio of 0.98 and a beta of 0.76. (Get Free Report) Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home. |
2024-11-03 | ETF Daily News | Brown Brothers Harriman & Co. Acquires 11,876 Shares of UnitedHealth Group Incorporated (NYSE:UNH) | Brown Brothers Harriman & Co. increased its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH–Free Report) by 29.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,901 shares of the healthcare conglomerate’s stock after purchasing an additional 11,876 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in UnitedHealth Group were worth $24,946,000 as of its most recent filing with the SEC. Other institutional investors have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of UnitedHealth Group by 97,436.9% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,029,274,230 shares of the healthcare conglomerate’s stock valued at $494,710,366,000 after purchasing an additional 1,028,218,963 shares during the period. BlackRock Inc. raised its holdings in shares of UnitedHealth Group by 0.7% in the first quarter. BlackRock Inc. now owns 74,928,539 shares of the healthcare conglomerate’s stock valued at $35,410,478,000 after purchasing an additional 509,633 shares during the last quarter. Wellington Management Group LLP boosted its holdings in UnitedHealth Group by 0.6% during the first quarter. Wellington Management Group LLP now owns 24,079,140 shares of the healthcare conglomerate’s stock worth $11,379,561,000 after purchasing an additional 140,312 shares during the last quarter. Geode Capital Management LLC increased its stake in UnitedHealth Group by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 17,101,395 shares of the healthcare conglomerate’s stock valued at $8,063,262,000 after buying an additional 242,959 shares during the last quarter. Finally, Morgan Stanley raised its holdings in UnitedHealth Group by 13.8% during the fourth quarter. Morgan Stanley now owns 15,635,038 shares of the healthcare conglomerate’s stock worth $8,289,386,000 after acquiring an additional 1,893,192 shares in the last quarter. Institutional investors own 85.69% of the company’s stock. UNH stocktraded down $5.67 during midday trading on Friday, reaching $530.46. The company had a trading volume of 259,021 shares, compared to its average volume of 3,330,212. The company has a market capitalization of $491.37 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 1.61 and a beta of 0.63. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.80 and a quick ratio of 0.80. UnitedHealth Group Incorporated has a 1-year low of $445.68 and a 1-year high of $554.80. The stock has a 50 day moving average price of $507.49 and a 200-day moving average price of $494.87. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverUnitedHealth Group (NYSE:UNH–Get Free Report) last posted its quarterly earnings results on Friday, October 13th. The healthcare conglomerate reported $6.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.33 by $0.23. UnitedHealth Group had a net margin of 6.02% and a return on equity of 26.58%. The business had revenue of $92.36 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter last year, the business posted $5.79 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities research analysts expect that UnitedHealth Group Incorporated will post 24.93 earnings per share for the current year. The business also recently declared a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Monday, September 11th were issued a dividend of $1.88 per share. This represents a $7.52 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, September 8th. UnitedHealth Group’s dividend payout ratio (DPR) is presently 32.64%. A number of brokerages have recently issued reports on UNH. Royal Bank of Canada upped their price objective on UnitedHealth Group from $572.00 to $596.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $591.00 price objective on shares of UnitedHealth Group in a research report on Thursday, September 14th. Wells Fargo & Company cut their target price on shares of UnitedHealth Group from $616.00 to $561.00 in a research note on Thursday, July 13th.StockNews.comlowered UnitedHealth Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 21st. Finally, UBS Group raised UnitedHealth Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $520.00 to $640.00 in a report on Monday, October 16th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $578.30. Get Our Latest Research Report on UnitedHealth Group In other UnitedHealth Group news, EVPErin Mcsweeneysold 4,498 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $544.28, for a total value of $2,448,171.44. Following the completion of the transaction, the executive vice president now directly owns 9,218 shares in the company, valued at $5,017,173.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available throughthe SEC website. In other news, Director Stephen J. Hemsley sold 121,515 shares of the stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $540.58, for a total transaction of $65,688,578.70. Following the completion of the sale, the director now directly owns 521,818 shares in the company, valued at $282,084,374.44. The transaction was disclosed in a filing with the SEC, which is available atthis link. Also, EVPErin Mcsweeneysold 4,498 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $544.28, for a total value of $2,448,171.44. Following the sale, the executive vice president now directly owns 9,218 shares of the company’s stock, valued at approximately $5,017,173.04. The disclosure for this sale can be foundhere. 0.35% of the stock is owned by corporate insiders. (Free Report) UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and health and well-being services to individuals age 50 and older addressing their needs; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage. |
2024-11-03 | ETF Daily News | Stifel Nicolaus Trims Bio-Techne (NASDAQ:TECH) Target Price to $65.00 | Bio-Techne (NASDAQ:TECH–Get Free Report)had its price objective dropped by investment analysts at Stifel Nicolaus from $104.00 to $65.00 in a research report issued on Thursday,Benzingareports. The firm presently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 17.31% from the stock’s current price. Several other equities research analysts also recently commented on TECH.StockNews.comupgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Robert W. Baird cut their target price on Bio-Techne from $100.00 to $90.00 in a report on Wednesday, August 9th. William Blair assumed coverage on Bio-Techne in a research note on Monday, August 28th. They issued an “outperform” rating for the company. Royal Bank of Canada cut their price objective on Bio-Techne from $85.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Finally, Stephens restated an “overweight” rating and issued a $100.00 price target on shares of Bio-Techne in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.80. Check Out Our Latest Stock Report on TECH Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverTECHopened at $55.41 on Thursday. The company’s 50 day moving average is $68.95 and its 200-day moving average is $77.23. The company has a market cap of $8.77 billion, a P/E ratio of 36.45, a PEG ratio of 2.91 and a beta of 1.22. The company has a current ratio of 4.63, a quick ratio of 3.50 and a debt-to-equity ratio of 0.22. Bio-Techne has a 1-year low of $51.79 and a 1-year high of $90.63. Bio-Techne (NASDAQ:TECH–Get Free Report) last issued its earnings results on Tuesday, August 8th. The biotechnology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.07. Bio-Techne had a return on equity of 14.89% and a net margin of 21.57%. The business had revenue of $301.32 million during the quarter, compared to analysts’ expectations of $304.71 million. Equities research analysts predict that Bio-Techne will post 1.73 earnings per share for the current fiscal year. In related news, DirectorRoeland Nussesold 8,939 shares of Bio-Techne stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $80.32, for a total value of $717,980.48. Following the completion of the sale, the director now owns 51,872 shares of the company’s stock, valued at approximately $4,166,359.04. The transaction was disclosed in a legal filing with the SEC, which is accessible throughthe SEC website. 4.45% of the stock is owned by insiders. Large investors have recently modified their holdings of the stock. Wetherby Asset Management Inc. raised its position in Bio-Techne by 4.8% in the 1st quarter. Wetherby Asset Management Inc. now owns 737 shares of the biotechnology company’s stock valued at $319,000 after buying an additional 34 shares during the last quarter. Evercore Wealth Management LLC lifted its position in shares of Bio-Techne by 9.3% during the first quarter. Evercore Wealth Management LLC now owns 575 shares of the biotechnology company’s stock valued at $249,000 after purchasing an additional 49 shares in the last quarter. Toroso Investments LLC boosted its holdings in Bio-Techne by 4.8% during the third quarter. Toroso Investments LLC now owns 1,266 shares of the biotechnology company’s stock worth $360,000 after purchasing an additional 58 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in Bio-Techne by 4.9% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 1,406 shares of the biotechnology company’s stock worth $399,000 after purchasing an additional 66 shares in the last quarter. Finally, Pearl River Capital LLC increased its stake in Bio-Techne by 5.6% in the 1st quarter. Pearl River Capital LLC now owns 1,326 shares of the biotechnology company’s stock valued at $574,000 after buying an additional 70 shares during the last quarter. Institutional investors own 94.64% of the company’s stock. (Get Free Report) Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally. |
2024-11-03 | ETF Daily News | WBI Investments Inc. Sells 18,975 Shares of Ally Financial Inc. (NYSE:ALLY) | WBI Investments Inc. trimmed its stake in Ally Financial Inc. (NYSE:ALLY–Free Report) by 57.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,096 shares of the financial services provider’s stock after selling 18,975 shares during the quarter. WBI Investments Inc.’s holdings in Ally Financial were worth $381,000 at the end of the most recent quarter. Other hedge funds have also added to or reduced their stakes in the company. WealthPLAN Partners LLC bought a new position in shares of Ally Financial during the first quarter valued at $25,000. Salem Investment Counselors Inc. lifted its holdings in shares of Ally Financial by 115.0% during the first quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 345 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Ally Financial by 167.3% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,200 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 751 shares in the last quarter. Natixis bought a new position in shares of Ally Financial during the fourth quarter valued at $41,000. Finally, BOKF NA bought a new position in shares of Ally Financial during the first quarter valued at $52,000. 86.04% of the stock is owned by institutional investors. Shares ofALLYopened at $26.75 on Friday. The business’s 50 day moving average is $26.17 and its 200 day moving average is $26.91. The company has a market capitalization of $8.07 billion, a PE ratio of 7.09 and a beta of 1.38. Ally Financial Inc. has a 12-month low of $21.58 and a 12-month high of $35.78. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.91. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverAlly Financial (NYSE:ALLY–Get Free Report) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $2.06 billion. Ally Financial had a return on equity of 11.36% and a net margin of 14.64%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company earned $1.12 EPS. Research analysts expect that Ally Financial Inc. will post 3.23 earnings per share for the current fiscal year. The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Tuesday, October 31st. Ally Financial’s payout ratio is 32.79%. Several research analysts have issued reports on ALLY shares. Wolfe Research cut Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 24th. Citigroup dropped their target price on Ally Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, October 19th. Morgan Stanley dropped their target price on Ally Financial from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Thursday, October 19th. Bank of America dropped their target price on Ally Financial from $30.00 to $28.00 in a research report on Tuesday, October 10th. Finally, JPMorgan Chase & Co. dropped their target price on Ally Financial from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $29.78. Read Our Latest Report on Ally Financial (Free Report) Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments. |
2024-11-03 | ETF Daily News | WesBanco (NASDAQ:WSBC) Price Target Cut to $26.00 | WesBanco (NASDAQ:WSBC–Free Report)had its price objective trimmed by Piper Sandler from $27.00 to $26.00 in a research report released on Monday morning,Benzingareports. The firm currently has a neutral rating on the financial services provider’s stock. Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reduced their price target on shares of WesBanco from $30.00 to $28.00 in a research report on Tuesday, October 10th.StockNews.comassumed coverage on shares of WesBanco in a research report on Thursday, October 5th. They set a sell rating for the company. Finally, Hovde Group upgraded shares of WesBanco from a market perform rating to an outperform rating in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $29.60. Read Our Latest Analysis on WesBanco Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverShares ofWesBanco stockopened at $25.63 on Monday. The firm has a 50-day simple moving average of $24.57 and a two-hundred day simple moving average of $25.50. The company has a market cap of $1.52 billion, a P/E ratio of 9.15 and a beta of 0.89. WesBanco has a fifty-two week low of $19.84 and a fifty-two week high of $41.37. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.90 and a current ratio of 0.90. WesBanco (NASDAQ:WSBC–Get Free Report) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). The firm had revenue of $214.47 million during the quarter, compared to analyst estimates of $149.29 million. WesBanco had a return on equity of 7.76% and a net margin of 22.39%. During the same quarter last year, the company posted $0.85 EPS. As a group, equities analysts predict that WesBanco will post 2.57 earnings per share for the current fiscal year. The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.40 annualized dividend and a yield of 5.46%. WesBanco’s dividend payout ratio is presently 50.00%. Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in WesBanco by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,973,790 shares of the financial services provider’s stock valued at $205,259,000 after acquiring an additional 75,273 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of WesBanco by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,668,134 shares of the financial services provider’s stock valued at $143,311,000 after buying an additional 61,437 shares during the period. Macquarie Group Ltd. grew its stake in shares of WesBanco by 2.4% in the 1st quarter. Macquarie Group Ltd. now owns 1,868,806 shares of the financial services provider’s stock valued at $57,372,000 after buying an additional 44,630 shares during the period. State Street Corp grew its stake in shares of WesBanco by 2.5% in the 2nd quarter. State Street Corp now owns 1,778,723 shares of the financial services provider’s stock valued at $46,142,000 after buying an additional 43,024 shares during the period. Finally, Earnest Partners LLC grew its stake in shares of WesBanco by 58.3% in the 2nd quarter. Earnest Partners LLC now owns 1,343,882 shares of the financial services provider’s stock valued at $34,417,000 after buying an additional 494,936 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock. (Get Free Report) WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. The company operates in two segments, Community Banking, and Trust and Investment Services. It offers commercial demand, individual demand, and time deposit accounts; commercial, mortgage and individual installment loans; retail loans, such as residential real estate mortgage loans, home equity lines of credit, and loans for other consumer purposes; installment loans to finance the purchase of automobiles, trucks, motorcycles, boats, and other recreational vehicles, as well as home equity installment loans, unsecured home improvement loans, and revolving lines of credit; and various non-traditional offerings, such as insurance and securities brokerage services. |
2024-11-03 | ETF Daily News | WBI Investments Inc. Buys Shares of 12,780 OneMain Holdings, Inc. (NYSE:OMF) | WBI Investments Inc. bought a new stake in shares of OneMain Holdings, Inc. (NYSE:OMF–Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 12,780 shares of the financial services provider’s stock, valued at approximately $558,000. Other hedge funds have also made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its holdings in shares of OneMain by 153.0% during the first quarter. Rockefeller Capital Management L.P. now owns 1,951,127 shares of the financial services provider’s stock worth $72,346,000 after purchasing an additional 1,179,938 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of OneMain during the second quarter worth $211,000. FMR LLC boosted its holdings in shares of OneMain by 7.0% during the first quarter. FMR LLC now owns 10,860,979 shares of the financial services provider’s stock worth $402,725,000 after purchasing an additional 711,440 shares during the last quarter. Barnett & Company Inc. boosted its holdings in shares of OneMain by 10.0% during the first quarter. Barnett & Company Inc. now owns 118,273 shares of the financial services provider’s stock worth $4,386,000 after purchasing an additional 10,800 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of OneMain by 35.8% during the first quarter. Barclays PLC now owns 42,486 shares of the financial services provider’s stock worth $1,576,000 after purchasing an additional 11,202 shares during the last quarter. Institutional investors and hedge funds own 79.70% of the company’s stock. OMF has been the topic of a number of research analyst reports.StockNews.comupgraded OneMain from a “hold” rating to a “buy” rating in a report on Friday. Citigroup reduced their target price on OneMain from $50.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, October 6th. Royal Bank of Canada reduced their target price on OneMain from $55.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. BMO Capital Markets reduced their target price on OneMain from $42.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, October 26th. Finally, Stephens reiterated an “overweight” rating and issued a $60.00 target price on shares of OneMain in a report on Friday, August 18th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, OneMain currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.08. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverGet Our Latest Stock Analysis on OneMain NYSE:OMFopened at $38.07 on Friday. The business’s 50-day moving average is $38.97 and its two-hundred day moving average is $40.57. OneMain Holdings, Inc. has a 12 month low of $31.97 and a 12 month high of $48.64. The firm has a market capitalization of $4.56 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 1.14 and a beta of 1.69. OneMain (NYSE:OMF–Get Free Report) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.06. OneMain had a return on equity of 22.12% and a net margin of 14.58%. The business had revenue of $900.00 million for the quarter, compared to analyst estimates of $907.28 million. Equities analysts anticipate that OneMain Holdings, Inc. will post 5.46 EPS for the current year. The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Monday, November 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 10.51%. The ex-dividend date of this dividend is Friday, November 3rd. OneMain’s payout ratio is 73.80%. (Free Report) OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses. The company originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards and insurance products comprising life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans. Want to see what other hedge funds are holding OMF?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for OneMain Holdings, Inc. (NYSE:OMF–Free Report). |
2024-11-03 | ETF Daily News | Trisura Group Ltd. Forecasted to Earn Q3 2023 Earnings of $0.64 Per Share (TSE:TSU) | Trisura Group Ltd. (TSE:TSU–Free Report) – Equities researchers at National Bank Financial raised their Q3 2023 earnings per share (EPS) estimates for Trisura Group in a research report issued to clients and investors on Tuesday, October 31st. National Bank Financial analyst J. Gloyn now anticipates that the company will post earnings of $0.64 per share for the quarter, up from their prior forecast of $0.54. The consensus estimate for Trisura Group’s current full-year earnings is $2.63 per share. National Bank Financial also issued estimates for Trisura Group’s FY2023 earnings at $2.30 EPS and FY2024 earnings at $2.50 EPS. A number of other research firms also recently issued reports on TSU. Scotiabank lowered their price target on Trisura Group from C$55.00 to C$49.00 and set an “outperform” rating for the company in a research report on Wednesday, October 25th. Raymond James increased their target price on shares of Trisura Group from C$53.00 to C$54.00 in a research report on Friday, August 11th. National Bankshares set a C$60.00 price target on shares of Trisura Group and gave the company an “outperform” rating in a research report on Tuesday, August 22nd. CIBC dropped their price objective on shares of Trisura Group from C$55.00 to C$50.00 and set an “outperform” rating for the company in a research report on Thursday, October 26th. Finally, BMO Capital Markets lifted their target price on shares of Trisura Group from C$49.00 to C$50.00 and gave the company an “outperform” rating in a report on Tuesday, August 22nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Trisura Group currently has an average rating of “Buy” and an average target price of C$53.00. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Analysis on Trisura Group Shares ofTSE TSUopened at C$31.49 on Friday. The company has a quick ratio of 0.22, a current ratio of 92.73 and a debt-to-equity ratio of 16.15. The stock has a market capitalization of C$1.49 billion, a PE ratio of 82.87 and a beta of 0.78. The firm has a fifty day moving average of C$31.11 and a 200-day moving average of C$33.44. Trisura Group has a 52-week low of C$29.05 and a 52-week high of C$47.90. Trisura Group (TSE:TSU–Get Free Report) last announced its quarterly earnings data on Thursday, August 10th. The company reported C$0.56 earnings per share for the quarter, topping the consensus estimate of C$0.50 by C$0.06. The business had revenue of C$664.42 million for the quarter. Trisura Group had a net margin of 2.15% and a return on equity of 4.77%. (Get Free Report) Trisura Group Ltd., a specialty insurance company, operates in the surety, risk solutions, corporate insurance, and reinsurance businesses in Canada, the United States, and internationally. The company offers contract surety bonds, such as performance, and labor and material payment bonds primarily for the construction industry; commercial surety bonds, including license and permit, tax and excise, and fiduciary bonds to governments, regulatory bodies, or courts to guarantee compliance with legal or fiduciary obligations; and developer surety bonds comprising bonds to secure real estate developers' legislated deposit and warranty obligations on residential projects. |
2024-11-03 | ETF Daily News | Radian Group (NYSE:RDN) Releases Quarterly Earnings Results, Beats Expectations By $0.25 EPS | Radian Group (NYSE:RDN–Get Free Report) announced its earnings results on Wednesday. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.25,Briefing.comreports. Radian Group had a return on equity of 15.71% and a net margin of 50.66%. The company had revenue of $313.50 million for the quarter, compared to analysts’ expectations of $313.17 million. During the same quarter in the previous year, the firm earned $1.31 earnings per share. Radian Group’s quarterly revenue was up 5.8% on a year-over-year basis. NYSE:RDNopened at $26.52 on Friday. Radian Group has a 1 year low of $17.83 and a 1 year high of $28.26. The stock’s fifty day moving average price is $26.00 and its two-hundred day moving average price is $25.75. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $4.18 billion, a P/E ratio of 6.84, a P/E/G ratio of 1.47 and a beta of 1.09. The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 21st were paid a $0.225 dividend. The ex-dividend date was Friday, August 18th. This represents a $0.90 dividend on an annualized basis and a yield of 3.39%. Radian Group’s dividend payout ratio is 23.20%. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverIn related news, DirectorGregory Seriosold 3,800 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $26.82, for a total transaction of $101,916.00. Following the sale, the director now owns 8,221 shares of the company’s stock, valued at approximately $220,487.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible throughthe SEC website. 1.58% of the stock is owned by company insiders. A number of institutional investors and hedge funds have recently modified their holdings of the company. Point72 Middle East FZE bought a new stake in Radian Group during the 4th quarter worth approximately $37,000. Ensign Peak Advisors Inc bought a new stake in Radian Group during the third quarter valued at $73,000. Lazard Asset Management LLC grew its position in Radian Group by 194.7% during the fourth quarter. Lazard Asset Management LLC now owns 4,285 shares of the insurance provider’s stock worth $81,000 after buying an additional 2,831 shares in the last quarter. Captrust Financial Advisors increased its stake in Radian Group by 49.8% in the 2nd quarter. Captrust Financial Advisors now owns 4,441 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 1,476 shares during the last quarter. Finally, Comerica Bank purchased a new stake in shares of Radian Group in the 2nd quarter valued at about $99,000. 96.17% of the stock is owned by hedge funds and other institutional investors. RDN has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their target price on Radian Group from $26.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th.StockNews.comstarted coverage on shares of Radian Group in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Radian Group currently has a consensus rating of “Hold” and a consensus price target of $26.10. Read Our Latest Stock Report on RDN (Get Free Report) Radian Group Inc, together with its subsidiaries, engages in the mortgage and real estate services business in the United States. The company operates through Mortgage and Homegenius segments. The Mortgage segment offers credit-related insurance coverage primarily through private mortgage insurance on residential first-lien mortgage loans, as well as other credit risk management, contract underwriting solutions. |
2024-11-03 | ETF Daily News | Rocket Companies (NYSE:RKT) Price Target Cut to $8.00 by Analysts at Wedbush | Rocket Companies (NYSE:RKT–Get Free Report)had its target price lowered by investment analysts at Wedbush from $11.00 to $8.00 in a report released on Friday,Benzingareports. The firm presently has a “neutral” rating on the stock. Wedbush’s price objective would suggest a potential downside of 7.94% from the stock’s current price. Other equities analysts have also issued reports about the stock. UBS Group lifted their price objective on shares of Rocket Companies from $8.50 to $10.50 and gave the company a “neutral” rating in a research report on Wednesday, August 30th. Citigroup increased their price target on shares of Rocket Companies from $9.00 to $11.00 in a report on Friday, August 4th. Keefe, Bruyette & Woods lowered their price objective on Rocket Companies from $11.50 to $9.25 in a report on Monday, October 2nd. Morgan Stanley increased their target price on Rocket Companies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Finally, The Goldman Sachs Group decreased their price target on Rocket Companies from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.98. Check Out Our Latest Research Report on Rocket Companies Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRocket Companies stocktraded up $0.59 during midday trading on Friday, hitting $8.69. 542,893 shares of the company’s stock were exchanged, compared to its average volume of 2,291,431. The firm’s 50 day simple moving average is $8.67 and its 200 day simple moving average is $9.11. Rocket Companies has a 12-month low of $6.11 and a 12-month high of $11.94. The company has a debt-to-equity ratio of 1.11, a quick ratio of 12.24 and a current ratio of 12.24. The stock has a market cap of $17.18 billion, a price-to-earnings ratio of -42.14 and a beta of 2.20. Rocket Companies (NYSE:RKT–Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $983.18 million. Rocket Companies had a negative return on equity of 8.21% and a negative net margin of 0.59%. Equities research analysts predict that Rocket Companies will post -0.17 EPS for the current year. In other news, DirectorJonathan D. Marinersold 12,500 shares of Rocket Companies stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $10.32, for a total transaction of $129,000.00. Following the completion of the transaction, the director now owns 55,250 shares of the company’s stock, valued at approximately $570,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available atthis link. 94.05% of the stock is owned by corporate insiders. Institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in Rocket Companies by 482.8% during the 1st quarter. FMR LLC now owns 11,224,873 shares of the company’s stock valued at $101,697,000 after buying an additional 9,299,006 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Rocket Companies by 4.8% during the first quarter. Invesco Ltd. now owns 10,789,221 shares of the company’s stock valued at $119,975,000 after acquiring an additional 490,407 shares during the last quarter. Vanguard Group Inc. increased its position in Rocket Companies by 29.0% during the 1st quarter. Vanguard Group Inc. now owns 10,028,437 shares of the company’s stock worth $111,517,000 after purchasing an additional 2,252,066 shares in the last quarter. BlackRock Inc. raised its stake in Rocket Companies by 2.7% in the 1st quarter. BlackRock Inc. now owns 6,684,239 shares of the company’s stock valued at $74,328,000 after purchasing an additional 178,545 shares during the last quarter. Finally, State Street Corp raised its stake in Rocket Companies by 2.3% in the 2nd quarter. State Street Corp now owns 5,518,701 shares of the company’s stock valued at $40,618,000 after purchasing an additional 122,916 shares during the last quarter. 4.09% of the stock is currently owned by institutional investors and hedge funds. (Get Free Report) Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; Rocket Auto, a virtual marketplace where consumers can shop and compare vehicles of many makes and models from a wide network of dealers; and Rocket Loans, an online-based personal loans business. |
2024-11-03 | ETF Daily News | Envestnet Asset Management Inc. Lowers Position in International Business Machines Co. (NYSE:IBM) | Envestnet Asset Management Inc. lowered its position in International Business Machines Co. (NYSE:IBM–Free Report) by 64.7% in the 2nd quarter,Holdings Channelreports. The fund owned 1,054,531 shares of the technology company’s stock after selling 1,932,478 shares during the quarter. Envestnet Asset Management Inc.’s holdings in International Business Machines were worth $141,107,000 as of its most recent SEC filing. Other institutional investors and hedge funds also recently made changes to their positions in the company. Fiduciary Alliance LLC bought a new position in International Business Machines during the 2nd quarter valued at approximately $25,000. Live Oak Investment Partners bought a new position in International Business Machines in the 4th quarter worth about $30,000. GW&K Investment Management LLC purchased a new position in International Business Machines in the first quarter worth about $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of International Business Machines in the second quarter worth approximately $34,000. Finally, Pacific Center for Financial Services bought a new stake in shares of International Business Machines during the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 56.16% of the company’s stock. A number of analysts recently commented on the company. Royal Bank of Canada reduced their price objective on International Business Machines from $188.00 to $179.00 and set an “outperform” rating for the company in a research report on Thursday, October 26th. BMO Capital Markets lifted their price target on shares of International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. Bank of America upped their price objective on International Business Machines from $152.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th.StockNews.comdowngraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Finally, Wedbush reiterated a “neutral” rating and issued a $140.00 price target on shares of International Business Machines in a research note on Thursday, October 26th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus target price of $149.09. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverRead Our Latest Research Report on International Business Machines Shares ofNYSE IBMopened at $147.01 on Friday. The stock has a market capitalization of $134.24 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 3.97 and a beta of 0.76. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 2.11. International Business Machines Co. has a 12-month low of $120.55 and a 12-month high of $153.21. The stock’s fifty day simple moving average is $143.71 and its two-hundred day simple moving average is $136.92. International Business Machines (NYSE:IBM–Get Free Report) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.12 by $0.08. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. The business had revenue of $14.75 billion during the quarter, compared to analyst estimates of $14.73 billion. During the same period in the prior year, the firm posted $1.81 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, analysts expect that International Business Machines Co. will post 9.43 EPS for the current fiscal year. The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Friday, November 10th will be given a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Thursday, November 9th. International Business Machines’s payout ratio is presently 88.06%. (Free Report) International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity. Want to see what other hedge funds are holding IBM?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM–Free Report). |
2024-11-03 | ETF Daily News | Q3 2023 EPS Estimates for Fairfax Financial Holdings Limited (TSE:FFH) Lowered by National Bank Financial | Fairfax Financial Holdings Limited (TSE:FFH–Free Report) – Analysts at National Bank Financial reduced their Q3 2023 earnings estimates for shares of Fairfax Financial in a research note issued to investors on Tuesday, October 31st. National Bank Financial analyst J. Gloyn now forecasts that the company will earn $24.78 per share for the quarter, down from their prior estimate of $34.89. The consensus estimate for Fairfax Financial’s current full-year earnings is $177.86 per share. National Bank Financial also issued estimates for Fairfax Financial’s FY2023 earnings at $205.54 EPS. A number of other analysts have also commented on the stock. National Bankshares boosted their price objective on shares of Fairfax Financial from C$1,700.00 to C$1,800.00 and gave the stock an “outperform” rating in a research report on Wednesday. Scotiabank increased their price objective on shares of Fairfax Financial from C$1,350.00 to C$1,500.00 and gave the stock an “outperform” rating in a research note on Monday, July 24th. CIBC increased their price target on Fairfax Financial from C$1,400.00 to C$1,500.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. Finally, Royal Bank of Canada boosted their price target on Fairfax Financial from C$875.00 to C$980.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$1,400.83. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Analysis on Fairfax Financial TSE:FFHopened at C$1,155.78 on Friday. The company has a market cap of C$28.14 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 0.27 and a beta of 0.87. Fairfax Financial has a twelve month low of C$657.62 and a twelve month high of C$1,195.61. The business has a 50 day moving average price of C$1,132.42 and a two-hundred day moving average price of C$1,044.51. The company has a quick ratio of 0.93, a current ratio of 3.66 and a debt-to-equity ratio of 35.80. Fairfax Financial (TSE:FFH–Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The company reported C$38.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$41.60 by C($2.92). Fairfax Financial had a return on equity of 12.49% and a net margin of 8.39%. The firm had revenue of C$8.94 billion for the quarter. In related news, insider Andrew Barnard sold 200 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of C$845.00, for a total value of C$169,000.00. Insiders own 3.61% of the company’s stock. (Get Free Report) Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, Asia, and internationally. The company operates through Property and Casualty Insurance and Reinsurance, Life insurance and Run-off, and Non-Insurance Companies segments. |
2024-11-03 | ETF Daily News | Power Co. of Canada (TSE:POW) Given New C$42.40 Price Target at Scotiabank | Power Co. of Canada (TSE:POW–Free Report)had its price target decreased by Scotiabank from C$43.50 to C$42.40 in a report issued on Monday,BayStreet.CAreports. Scotiabank currently has a sector perform rating on the financial services provider’s stock. Other analysts have also issued research reports about the stock. TD Securities lifted their price objective on shares of Power Co. of Canada from C$41.00 to C$43.00 and gave the company a buy rating in a research note on Monday, August 14th. Royal Bank of Canada lowered their price objective on shares of Power Co. of Canada from C$45.00 to C$41.00 and set a sector perform rating for the company in a research note on Tuesday, October 24th. CIBC lowered their price objective on shares of Power Co. of Canada from C$42.00 to C$38.00 and set a neutral rating for the company in a research note on Thursday, October 26th. BMO Capital Markets lifted their price objective on shares of Power Co. of Canada from C$39.00 to C$41.00 in a research note on Thursday, August 10th. Finally, Cfra lifted their price target on shares of Power Co. of Canada from C$38.00 to C$42.00 in a research report on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of C$40.68. View Our Latest Report on POW Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverTSE:POWopened at C$34.66 on Monday. The firm’s 50 day simple moving average is C$35.54 and its 200 day simple moving average is C$35.98. The company has a debt-to-equity ratio of 50.02, a current ratio of 42.50 and a quick ratio of 107.64. Power Co. of Canada has a one year low of C$31.47 and a one year high of C$38.98. The company has a market cap of C$20.97 billion, a PE ratio of 17.51, a P/E/G ratio of 0.95 and a beta of 1.09. Power Co. of Canada (TSE:POW–Get Free Report) last posted its earnings results on Thursday, August 10th. The financial services provider reported C$1.27 EPS for the quarter, topping the consensus estimate of C$0.93 by C$0.34. Power Co. of Canada had a net margin of 2.66% and a return on equity of 6.35%. The business had revenue of C$7.17 billion for the quarter. On average, research analysts anticipate that Power Co. of Canada will post 4.2913386 earnings per share for the current year. The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, September 29th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date was Thursday, September 28th. Power Co. of Canada’s dividend payout ratio is currently 106.06%. (Get Free Report) Power Corporation of Canada, an international management and holding company, offers financial services in North America, Europe, and Asia. It operates through Lifeco, IGM Financial, and GBL segments. The company offers life, disability, critical illness, accidental death, dismemberment, health and dental protection, and creditor insurance; retirement and investment management; fund and asset management; reinsurance and retrocession; investment advisory, financial planning, and related services; fund products; and protection and wealth management services. |
2024-11-03 | ETF Daily News | Royal Bank of Canada Reiterates Outperform Rating for PagerDuty (NYSE:PD) | Royal Bank of Canada reissued their outperform rating on shares ofPagerDuty (NYSE:PD–Free Report)in a research report released on Monday,Benzingareports. Several other brokerages have also recently issued reports on PD. Craig Hallum dropped their price objective on PagerDuty from $26.00 to $25.00 and set a hold rating on the stock in a research note on Friday, September 1st. Morgan Stanley cut their price target on PagerDuty from $35.00 to $32.00 and set an overweight rating on the stock in a research note on Wednesday, September 20th. Robert W. Baird lowered shares of PagerDuty from an outperform rating to a neutral rating and lowered their price objective for the stock from $32.00 to $25.00 in a research note on Friday, September 1st. Finally, Truist Financial dropped their target price on shares of PagerDuty from $30.00 to $25.00 and set a hold rating on the stock in a report on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $29.86. View Our Latest Stock Analysis on PD Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverShares ofPDopened at $20.44 on Monday. The firm has a fifty day moving average price of $22.18 and a 200-day moving average price of $24.46. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.52 and a quick ratio of 2.52. PagerDuty has a 12-month low of $19.18 and a 12-month high of $35.33. PagerDuty (NYSE:PD–Get Free Report) last announced its quarterly earnings data on Thursday, August 31st. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.06. The company had revenue of $107.62 million during the quarter, compared to analyst estimates of $104.28 million. PagerDuty had a negative net margin of 22.93% and a negative return on equity of 27.55%. On average, equities analysts expect that PagerDuty will post -0.56 EPS for the current year. In other PagerDuty news, SVP Shelley Webb sold 16,723 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $21.71, for a total transaction of $363,056.33. Following the completion of the sale, the senior vice president now directly owns 193,915 shares of the company’s stock, valued at $4,209,894.65. The transaction was disclosed in a legal filing with the SEC, which is accessible throughthis link. 7.90% of the stock is owned by insiders. Large investors have recently made changes to their positions in the business. Raymond James & Associates grew its stake in PagerDuty by 0.6% during the 2nd quarter. Raymond James & Associates now owns 70,179 shares of the company’s stock worth $1,578,000 after buying an additional 432 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of PagerDuty by 5.2% during the first quarter. Victory Capital Management Inc. now owns 9,477 shares of the company’s stock worth $332,000 after acquiring an additional 471 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of PagerDuty by 1.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 34,383 shares of the company’s stock valued at $913,000 after acquiring an additional 518 shares in the last quarter. Principal Financial Group Inc. grew its position in PagerDuty by 5.7% during the 2nd quarter. Principal Financial Group Inc. now owns 10,075 shares of the company’s stock worth $226,000 after purchasing an additional 547 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in PagerDuty by 2.7% during the 2nd quarter. SG Americas Securities LLC now owns 23,191 shares of the company’s stock valued at $521,000 after purchasing an additional 608 shares in the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds. (Get Free Report) PagerDuty, Inc engages in the operation of a digital operations management platform in the United States, EMEA, the Asia Pacific, and Japan. The company's digital operations management platform collects data and digital signals from virtually any software-enabled system or device and leverage powerful machine learning to correlate, process, and predict opportunities and issues. |
2024-11-03 | ETF Daily News | Badger Meter, Inc. (NYSE:BMI) to Post FY2023 Earnings of $2.99 Per Share, Zacks Research Forecasts | Badger Meter, Inc. (NYSE:BMI–Free Report) – Equities researchers at Zacks Research boosted their FY2023 earnings per share estimates for Badger Meter in a research report issued on Thursday, November 2nd. Zacks Research analyst H. Sadavartia now forecasts that the scientific and technical instruments company will earn $2.99 per share for the year, up from their prior estimate of $2.78. The consensus estimate for Badger Meter’s current full-year earnings is $3.00 per share. Zacks Research also issued estimates for Badger Meter’s Q4 2023 earnings at $0.69 EPS, Q1 2024 earnings at $0.72 EPS, Q2 2024 earnings at $0.79 EPS, Q3 2024 earnings at $0.82 EPS, Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $3.13 EPS, Q1 2025 earnings at $0.82 EPS, Q2 2025 earnings at $0.88 EPS, Q3 2025 earnings at $0.92 EPS and FY2025 earnings at $3.51 EPS. Other analysts have also recently issued research reports about the company. Northcoast Research cut Badger Meter from a “neutral” rating to a “sell” rating and set a $120.00 price target for the company. in a research report on Friday, September 29th.StockNews.comraised Badger Meter from a “hold” rating to a “buy” rating in a research note on Tuesday, October 24th. Robert W. Baird upped their price objective on Badger Meter from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Stifel Nicolaus restated a “hold” rating and set a $142.00 price objective on shares of Badger Meter in a research report on Tuesday, September 12th. Finally, Maxim Group upped their price objective on Badger Meter from $152.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Badger Meter presently has an average rating of “Hold” and a consensus target price of $146.67. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Research Report on BMI Shares ofBMIopened at $142.39 on Friday. The business has a 50-day simple moving average of $149.92 and a two-hundred day simple moving average of $148.26. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 49.10, a PEG ratio of 2.27 and a beta of 0.90. Badger Meter has a 52 week low of $103.93 and a 52 week high of $170.86. Badger Meter (NYSE:BMI–Get Free Report) last posted its quarterly earnings data on Thursday, October 19th. The scientific and technical instruments company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. The company had revenue of $186.20 million during the quarter, compared to analysts’ expectations of $179.06 million. Badger Meter had a return on equity of 18.28% and a net margin of 12.78%. Badger Meter’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. Hedge funds and other institutional investors have recently modified their holdings of the business. Financial Gravity Asset Management Inc. purchased a new stake in shares of Badger Meter in the second quarter worth approximately $70,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Badger Meter in the second quarter worth approximately $25,000. Pacer Advisors Inc. purchased a new stake in shares of Badger Meter in the second quarter worth approximately $28,000. Asset Management One Co. Ltd. purchased a new stake in shares of Badger Meter in the third quarter worth approximately $35,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Badger Meter during the 2nd quarter worth $70,000. 86.81% of the stock is currently owned by hedge funds and other institutional investors. The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.76%. This is an increase from Badger Meter’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, August 24th. Badger Meter’s dividend payout ratio is presently 37.24%. (Get Free Report) Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities. |
2024-11-03 | ETF Daily News | Cullen Frost Bankers Inc. Cuts Stock Holdings in American International Group, Inc. (NYSE:AIG) | Cullen Frost Bankers Inc. reduced its position in shares of American International Group, Inc. (NYSE:AIG–Free Report) by 2.6% in the 2nd quarter,Holdings Channel.comreports. The institutional investor owned 8,636 shares of the insurance provider’s stock after selling 234 shares during the period. Cullen Frost Bankers Inc.’s holdings in American International Group were worth $497,000 at the end of the most recent reporting period. Several other large investors also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund increased its stake in American International Group by 0.7% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 27,251 shares of the insurance provider’s stock worth $1,294,000 after buying an additional 186 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of American International Group by 20.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,110 shares of the insurance provider’s stock worth $69,000 after purchasing an additional 192 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of American International Group by 2.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 7,534 shares of the insurance provider’s stock worth $379,000 after purchasing an additional 194 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in shares of American International Group by 0.7% during the 2nd quarter. Cyndeo Wealth Partners LLC now owns 30,355 shares of the insurance provider’s stock worth $1,747,000 after purchasing an additional 197 shares during the last quarter. Finally, Annandale Capital LLC boosted its holdings in shares of American International Group by 5.1% during the 1st quarter. Annandale Capital LLC now owns 4,101 shares of the insurance provider’s stock worth $207,000 after purchasing an additional 200 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors. In other American International Group news, CAOKathleen Carbonesold 7,757 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $61.30, for a total transaction of $475,504.10. The sale was disclosed in a document filed with the SEC, which is accessible throughthis hyperlink. Corporate insiders own 0.49% of the company’s stock. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverA number of research firms recently commented on AIG. Morgan Stanley upped their price objective on American International Group from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, October 11th. Wells Fargo & Company upped their price objective on American International Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, October 17th. Deutsche Bank Aktiengesellschaft began coverage on American International Group in a report on Wednesday, October 4th. They issued a “buy” rating and a $79.00 price objective on the stock. BMO Capital Markets decreased their price objective on American International Group from $69.00 to $68.00 and set a “market perform” rating on the stock in a report on Tuesday, October 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $70.00 price target on shares of American International Group in a research note on Tuesday, October 3rd. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, American International Group presently has a consensus rating of “Hold” and a consensus price target of $68.21. Check Out Our Latest Analysis on American International Group NYSE:AIGopened at $64.36 on Friday. The firm has a market capitalization of $45.82 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 0.91 and a beta of 1.03. The business’s fifty day moving average price is $60.57 and its 200 day moving average price is $57.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. American International Group, Inc. has a 12 month low of $45.66 and a 12 month high of $64.88. American International Group (NYSE:AIG–Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.06. The company had revenue of $12.77 billion for the quarter, compared to analyst estimates of $12.62 billion. American International Group had a return on equity of 9.28% and a net margin of 8.94%. During the same quarter last year, the company posted $0.66 earnings per share. On average, sell-side analysts anticipate that American International Group, Inc. will post 6.73 earnings per share for the current fiscal year. (Free Report) American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through General Insurance, and Life and Retirement segments. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products; and professional liability insurance. Want to see what other hedge funds are holding AIG?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for American International Group, Inc. (NYSE:AIG–Free Report). |
2024-11-03 | ETF Daily News | HBK Sorce Advisory LLC Reduces Stock Holdings in Paychex, Inc. (NASDAQ:PAYX) | HBK Sorce Advisory LLC cut its holdings in Paychex, Inc. (NASDAQ:PAYX–Free Report) by 49.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,597 shares of the business services provider’s stock after selling 9,474 shares during the period. HBK Sorce Advisory LLC’s holdings in Paychex were worth $1,074,000 as of its most recent SEC filing. A number of other large investors have also recently added to or reduced their stakes in PAYX. NewSquare Capital LLC lifted its holdings in Paychex by 91.7% in the 2nd quarter. NewSquare Capital LLC now owns 255 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 122 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in Paychex by 80.9% in the 2nd quarter. Hexagon Capital Partners LLC now owns 275 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 123 shares during the last quarter. Atlantic Private Wealth LLC purchased a new position in shares of Paychex during the 1st quarter worth $36,000. Cambridge Trust Co. lifted its stake in shares of Paychex by 254.4% during the 1st quarter. Cambridge Trust Co. now owns 319 shares of the business services provider’s stock worth $37,000 after purchasing an additional 229 shares during the period. Finally, MCF Advisors LLC increased its stake in Paychex by 110.1% in the second quarter. MCF Advisors LLC now owns 332 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 174 shares during the last quarter. 72.18% of the stock is owned by institutional investors and hedge funds. Paychex stockopened at $112.47 on Friday. Paychex, Inc. has a 12-month low of $104.09 and a 12-month high of $129.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $40.63 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 2.95 and a beta of 0.97. The firm’s fifty day moving average price is $117.02 and its 200 day moving average price is $115.38. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverPaychex (NASDAQ:PAYX–Get Free Report) last released its quarterly earnings results on Wednesday, September 27th. The business services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Paychex had a return on equity of 46.51% and a net margin of 31.40%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. On average, research analysts forecast that Paychex, Inc. will post 4.7 EPS for the current fiscal year. The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, November 13th. Paychex’s dividend payout ratio (DPR) is currently 80.73%. In other Paychex news, VPMichael E. Giojasold 41,329 shares of the stock in a transaction on Friday, October 6th. The shares were sold at an average price of $115.79, for a total transaction of $4,785,484.91. Following the transaction, the vice president now directly owns 19,800 shares in the company, valued at approximately $2,292,642. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available atthis hyperlink. Insiders own 11.50% of the company’s stock. PAYX has been the subject of several recent analyst reports. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of Paychex in a report on Tuesday, September 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $130.00 price objective on shares of Paychex in a research note on Thursday, September 28th. TD Cowen increased their target price on Paychex from $130.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Morgan Stanley lifted their price objective on Paychex from $125.00 to $127.00 and gave the company an “equal weight” rating in a research note on Thursday, September 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Paychex from $114.00 to $134.00 and gave the company an “underweight” rating in a research report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $121.38. View Our Latest Research Report on Paychex (Free Report) Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small to medium-sized businesses in the United States, Europe, and India. It offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing. Want to see what other hedge funds are holding PAYX?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Paychex, Inc. (NASDAQ:PAYX–Free Report). |
2024-11-03 | ETF Daily News | Quantinno Capital Management LP Increases Stock Holdings in The Allstate Co. (NYSE:ALL) | Quantinno Capital Management LP lifted its stake in shares of The Allstate Co. (NYSE:ALL–Free Report) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,778 shares of the insurance provider’s stock after purchasing an additional 1,308 shares during the quarter. Quantinno Capital Management LP’s holdings in Allstate were worth $1,830,000 at the end of the most recent quarter. Several other hedge funds have also recently modified their holdings of ALL. Apollon Wealth Management LLC boosted its holdings in shares of Allstate by 2.5% in the fourth quarter. Apollon Wealth Management LLC now owns 3,214 shares of the insurance provider’s stock valued at $436,000 after acquiring an additional 78 shares in the last quarter. BLB&B Advisors LLC lifted its holdings in shares of Allstate by 2.9% in the 1st quarter. BLB&B Advisors LLC now owns 3,194 shares of the insurance provider’s stock valued at $354,000 after buying an additional 91 shares during the period. CVA Family Office LLC boosted its stake in shares of Allstate by 48.4% in the first quarter. CVA Family Office LLC now owns 282 shares of the insurance provider’s stock valued at $31,000 after buying an additional 92 shares in the last quarter. Bison Wealth LLC grew its holdings in Allstate by 3.2% during the first quarter. Bison Wealth LLC now owns 2,943 shares of the insurance provider’s stock worth $348,000 after acquiring an additional 92 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in Allstate by 1.9% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,168 shares of the insurance provider’s stock worth $564,000 after acquiring an additional 98 shares in the last quarter. 77.23% of the stock is owned by institutional investors and hedge funds. A number of equities analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Allstate from $113.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Monday, August 14th. Piper Sandler dropped their target price on shares of Allstate from $137.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, August 3rd. Jefferies Financial Group lifted their price target on shares of Allstate from $117.00 to $119.00 in a research report on Friday, October 6th.StockNews.comassumed coverage on Allstate in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Raymond James decreased their target price on Allstate from $155.00 to $145.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.69. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Research Report on ALL Shares ofNYSE ALLopened at $131.36 on Friday. The company has a 50-day simple moving average of $115.22 and a 200-day simple moving average of $112.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market cap of $34.36 billion, a PE ratio of -12.69 and a beta of 0.52. The Allstate Co. has a 12 month low of $100.57 and a 12 month high of $142.15. Allstate (NYSE:ALL–Get Free Report) last released its earnings results on Thursday, November 2nd. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.39 by $0.42. Allstate had a negative net margin of 4.80% and a negative return on equity of 14.69%. The firm had revenue of $14.50 billion during the quarter, compared to analysts’ expectations of $12.78 billion. During the same period in the previous year, the company earned ($1.56) EPS. Allstate’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts anticipate that The Allstate Co. will post -2.24 earnings per share for the current year. (Free Report) The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names. Want to see what other hedge funds are holding ALL?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for The Allstate Co. (NYSE:ALL–Free Report). |
2024-11-03 | ETF Daily News | Impax Asset Management Group plc Sells 5,083 Shares of MetLife, Inc. (NYSE:MET) | Impax Asset Management Group plc cut its stake in shares of MetLife, Inc. (NYSE:MET–Free Report) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,065 shares of the financial services provider’s stock after selling 5,083 shares during the period. Impax Asset Management Group plc’s holdings in MetLife were worth $4,243,000 at the end of the most recent quarter. A number of other institutional investors also recently made changes to their positions in MET. Ascent Wealth Partners LLC grew its stake in shares of MetLife by 1.7% in the second quarter. Ascent Wealth Partners LLC now owns 22,278 shares of the financial services provider’s stock valued at $1,311,000 after acquiring an additional 381 shares in the last quarter. Cibc World Markets Corp grew its position in shares of MetLife by 1,582.0% during the 2nd quarter. Cibc World Markets Corp now owns 1,456,203 shares of the financial services provider’s stock worth $82,319,000 after purchasing an additional 1,369,627 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of MetLife by 10.8% during the 2nd quarter. Pzena Investment Management LLC now owns 4,634,543 shares of the financial services provider’s stock worth $261,991,000 after purchasing an additional 452,240 shares in the last quarter. Savant Capital LLC increased its holdings in shares of MetLife by 2.6% during the second quarter. Savant Capital LLC now owns 11,388 shares of the financial services provider’s stock worth $644,000 after purchasing an additional 284 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of MetLife by 0.6% in the second quarter. Quantinno Capital Management LP now owns 54,998 shares of the financial services provider’s stock valued at $3,109,000 after buying an additional 355 shares during the period. Institutional investors own 88.14% of the company’s stock. A number of analysts have recently weighed in on the company. Jefferies Financial Group upgraded MetLife from a “hold” rating to a “buy” rating and upped their target price for the company from $58.00 to $72.00 in a research report on Wednesday, September 13th. TheStreet upgraded shares of MetLife from a “c+” rating to a “b-” rating in a research note on Thursday, August 10th. Wells Fargo & Company boosted their target price on shares of MetLife from $82.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Morgan Stanley increased their price target on shares of MetLife from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada boosted their price objective on shares of MetLife from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, MetLife currently has an average rating of “Moderate Buy” and a consensus price target of $76.18. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverGet Our Latest Analysis on MET In related news, EVPMarlene Debelsold 9,391 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $63.18, for a total transaction of $593,323.38. Following the completion of the transaction, the executive vice president now directly owns 77,638 shares of the company’s stock, valued at approximately $4,905,168.84. The sale was disclosed in a filing with the SEC, which can be accessed throughthe SEC website. 0.32% of the stock is owned by company insiders. Shares ofMETopened at $60.01 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.13 and a current ratio of 0.13. MetLife, Inc. has a 52 week low of $48.95 and a 52 week high of $77.36. The stock has a market capitalization of $45.13 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 0.61 and a beta of 1.06. The stock has a fifty day moving average of $62.49 and a 200-day moving average of $59.17. MetLife (NYSE:MET–Get Free Report) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $1.97 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.02). The firm had revenue of $15.87 billion during the quarter, compared to the consensus estimate of $17.49 billion. MetLife had a net margin of 3.60% and a return on equity of 18.48%. MetLife’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. As a group, sell-side analysts anticipate that MetLife, Inc. will post 7.64 earnings per share for the current fiscal year. The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 9th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.47%. The ex-dividend date is Wednesday, November 8th. MetLife’s dividend payout ratio (DPR) is currently 76.47%. (Free Report) MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements. |
2024-11-04 | ETF Daily News | Verisk Analytics (NASDAQ:VRSK) Updates FY23 Earnings Guidance | Verisk Analytics (NASDAQ:VRSK–Get Free Report) updated its FY23 earnings guidance on Wednesday. The company provided EPS guidance of $5.50-5.70 for the period, compared to the consensus EPS estimate of $5.74. The company issued revenue guidance of $2.63-2.66 billion, compared to the consensus revenue estimate of $2.67 billion. VRSKopened at $230.62 on Friday. The stock has a fifty day moving average of $239.19 and a 200-day moving average of $227.10. The firm has a market capitalization of $33.39 billion, a P/E ratio of 67.83, a PEG ratio of 3.66 and a beta of 0.85. Verisk Analytics has a 12-month low of $162.94 and a 12-month high of $249.26. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 7.22. Verisk Analytics (NASDAQ:VRSK–Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The business services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.05. The firm had revenue of $677.60 million during the quarter, compared to analyst estimates of $663.33 million. Verisk Analytics had a return on equity of 135.34% and a net margin of 19.04%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $1.46 EPS. Equities analysts forecast that Verisk Analytics will post 5.72 EPS for the current fiscal year. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.36 dividend on an annualized basis and a yield of 0.59%. Verisk Analytics’s payout ratio is 40.00%. A number of research firms have issued reports on VRSK. Truist Financial lifted their target price on shares of Verisk Analytics from $275.00 to $285.00 and gave the company a buy rating in a research note on Tuesday, October 17th. JPMorgan Chase & Co. lowered their price objective on Verisk Analytics from $260.00 to $255.00 and set an overweight rating on the stock in a report on Thursday. Royal Bank of Canada reiterated an outperform rating and set a $250.00 price target on shares of Verisk Analytics in a report on Thursday, August 3rd. BMO Capital Markets boosted their price objective on shares of Verisk Analytics from $229.00 to $238.00 and gave the stock a market perform rating in a research note on Friday, August 4th. Finally, Barclays lifted their target price on shares of Verisk Analytics from $250.00 to $275.00 and gave the stock an overweight rating in a report on Thursday, August 3rd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $248.23. Get Our Latest Stock Analysis on Verisk Analytics In other news, insiderNicholas Daffansold 1,516 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $246.02, for a total value of $372,966.32. Following the completion of the transaction, the insider now directly owns 43,931 shares of the company’s stock, valued at approximately $10,807,904.62. The sale was disclosed in a legal filing with the SEC, which is available atthis link. In related news, Director Therese M. Vaughan sold 6,129 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $233.02, for a total transaction of $1,428,179.58. Following the completion of the sale, the director now directly owns 27,179 shares of the company’s stock, valued at approximately $6,333,250.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available atthe SEC website. Also, insiderNicholas Daffansold 1,516 shares of the firm’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $246.02, for a total value of $372,966.32. Following the sale, the insider now directly owns 43,931 shares of the company’s stock, valued at $10,807,904.62. The disclosure for this sale can be foundhere. Insiders sold 17,193 shares of company stock valued at $4,043,134 over the last quarter. Corporate insiders own 1.31% of the company’s stock. Hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. increased its stake in shares of Verisk Analytics by 67.5% in the second quarter. Sunbelt Securities Inc. now owns 134 shares of the business services provider’s stock valued at $30,000 after buying an additional 54 shares in the last quarter. Quarry LP acquired a new stake in shares of Verisk Analytics in the first quarter valued at approximately $27,000. Salem Investment Counselors Inc. acquired a new stake in shares of Verisk Analytics in the second quarter valued at approximately $30,000. Cornerstone Planning Group LLC acquired a new stake in shares of Verisk Analytics in the second quarter valued at approximately $49,000. Finally, State of Wyoming acquired a new stake in shares of Verisk Analytics in the 4th quarter valued at $50,000. 90.81% of the stock is currently owned by institutional investors and hedge funds. (Get Free Report) Verisk Analytics, Inc provides data analytics solutions to the insurance markets in the United States and internationally. The company provides predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, and various other fields. |
2024-11-04 | Forbes | Critical Takeaways From Berkshire Hathaway’s Third-Quarter 2023 Earnings | Berkshire Hathaway reported a loss of $12.8 billion in the third quarter. Operating earnings, which ... [+] remove the distortion from market changes and better reflect the firm’s earnings power, rose sharply for the quarter. — (Photo by: Lacy O'Toole/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images) Berkshire Hathaway (BRK/A, BRK/B) reported a loss of $12.8 billion in the third quarter versus a loss of $2.8 billion in the same quarter of 2022. Since results are heavily impacted by gains or losses from the investment portfolio, with unrealized losses from their portfolio included in earnings, the decline in the stock market made earnings reported earnings swoon. Operating earnings, which remove the distortion from market changes and better reflect the firm’s earnings power, rose 41% for the quarter versus 2022. Providing an illustration of the value from share repurchases, per-share operating income for the quarter increased by 43% compared to 2022. Berkshire Hathaway 3Q 2023 Earnings Because the pandemic negatively impacted most businesses, including Berkshire, beginning in early 2020, comparing current results to pre-pandemic 2019 results is helpful. Year-to-date operating earnings for the third quarter of 2023 are 46% above 2019. Operating earnings increased over 2019 across all primary business segments except railroad and energy. Thanks to share repurchases, operating earnings per share for year-to-date 2023 were a whopping 65% above 2019. Berkshire Hathaway 3Q Year-To-Date 2023 Earnings A further look into the different operating segments for the third quarter of 2023 shows weaker results than in 2022, aside from the manufacturing, service, and retailing division and the insurance business, despite overall operating income increasing by 41% year-over-year. In a distinct change from 2022, the insurance segment has been the growth driver year-to-date, as operating income rose 165%, but excluding insurance fell by 12%. Berkshire Hathaway 3Q 2023: Operating Earnings by Segment Insurance: Third quarter 2023 investment income was 75% higher than in 2022, primarily due to higher interest income from short-term investments. As yields have rebounded from the ultra-low interest rates implemented in response to the pandemic, investment income has recovered from depressed levels. Due to easy comparisons, investment income should continue improving for the remainder of 2023, even though the Federal Reserve has paused its rate increases. Underwriting results were poor for the third quarter of 2022, with underwriting losses at all three insurance groups, but the most prominent coming from GEICO. Hurricane Ian contributed to the underwriting losses in the third quarter of last year. Unlike GEICO, Berkshire Hathaway Primary Group and Berkshire Hathaway Reinsurance Group had underwriting gains for 2022. In the third quarter, Berkshire’s insurance underwriting suffered no significant catastrophe events, defined as losses exceeding $150 million, and all three insurance units posted underwriting profits. GEICO had a solid third quarter thanks to increased premiums per auto policy and lower claims frequency. GEICO continues to suffer from rising claims severity due in part to the higher valuation of used vehicles. Despite the better results helped by higher average premiums, policies in force at GEICO have declined. A considerable reduction in advertising expenses bolstered profits. At the annual meeting earlier in the year, Ajit Jain, who oversees Berkshire’s insurance businesses, stated that GEICO had made “rapid strides” in telematics, which should help bolster underwriting profits over time. However, the company was still a ”work in progress.” Previously, GEICO was a growth engine for both profits and float, so progress in returning the company to its former glory should be watched closely. The two most essential concepts in insurance investing are “float” and underwriting profit. In simple terms, float is created for insurance companies because insurance premiums are paid before any claims are made by the insured. Insurance companies can invest the float, sometimes for years, before insurance losses are reimbursed. Berkshire has a history, unlike many insurance companies, of earning an underwriting profit, meaning that their float costs them nothing and makes them money in addition to allowing them to earn a profit off of investing the float. As seen in the third quarter of 2023, an underwriting profit means the insurance premium exceeds all insurance claims and expenses. Despite Berkshire’s underwriting loss for 2022, it posted underwriting profits year-to-date in 2023 and for calendar years 2021, 2020, and 2019. Berkshire’s float was higher at approximately $167 billion versus the $166 billion level at the end of the second quarter and above the $164 billion on December 31, 2022. In general, the value of float increases as yields rise. Float per share has increased to $115,417 from $114,519 and $112,066 at the end of the first quarter and 2022, respectively. Share repurchases also aided this growth in float per share. Railroad: Berkshire owns one of the largest railroads in North America, the Burlington Northern Santa Fe (BNSF) railroad, operating in the U.S. and Canada. Third-quarter operating earnings fell 15% and declined 17% year-to-date versus 2022. According to Berkshire, “the decreases were primarily attributable to lower overall freight volumes and higher non-fuel operating costs, partially offset by lower fuel costs.” The railroad was a relative underperformer in 2022, but most of the earnings weakness stems from economic rather than company-specific factors in 2023. Earnings are down year-over-year across the railroad industry. Utilities and Energy: Berkshire owns 92% of Berkshire Hathaway Energy Company (BHE), which generally provides steady and growing earnings, as one would expect from what primarily consists of regulated utilities and pipeline companies. In addition, BHE typically produces significant tax credits due to its wind-powered electricity generation. Third-quarter operating earnings fell 69% and declined 46% year-to-date versus 2022. BHE set aside another $1.3 billion for possible losses from the wildfires involving PacifiCorp. Aside from the higher estimated wildfire liability, the U.S. utilities business looks to be operating as expected. This group also operates Berkshire Hathaway HomeServices (BHHS), the largest residential real estate brokerage firm in the country. The results show that the slowdown in housing activity remains evident, posting an 81.3% decline in year-to-date net earnings versus 2022. The 2023 BHHS earnings have suffered from lower transaction volume, mortgage, and refinance activity due to “the impact of rising interest rates, including lower existing home sales and mortgage refinancing demand.” Manufacturing, Service and Retailing: This segment consists of many diverse businesses, so this analysis will focus on a few significant themes when looking at this segment. Berkshire’s aerospace exposure remains substantial despite selling its publicly traded airline holdings earlier in 2020. Berkshire previously took a $10 billion impairment charge on the Precision Castparts
PCP
(PCC) business due to its exposure to the COVID-disrupted aerospace industry. PCC’s pre-tax earnings have risen sharply year-to-date at 32.5% over 2022, primarily due to “higher demand for aerospace products, while power/energy and general and industrial products also contributed to the overall revenue increases.” Management reiterated that “long-term forecasts continue to show growth and strong demand for air travel and aerospace products.” Still, future growth will rely on increasing production to meet the demand. Berkshire’s FlightSafety and NetJets continued to see a rebound, with year-to-date revenues in the aviation services businesses growing by 11.5% over last year, “primarily due to increases in the number of aircraft in shared aircraft ownership programs and a year-to-date increase in flight hours across NetJets’ various programs, as well as higher average rates.” After a 2022 boom year, housing-related businesses like Clayton Homes, Shaw, Johns Manville, Acme Building Products, Benjamin Moore, and MiTek posted lower quarterly and year-to-date earnings, at 5.6% and 10.8% decreases in pre-tax profits, respectively. The impact of higher home mortgage interest rates on home construction means that “we continue to anticipate certain of our businesses will experience weakening demand and declines in revenues and earnings into 2024.” The most significant portion of the retailing segment is Berkshire Hathaway Automotive (BHA), which owns over 80 auto dealerships. BHA had 18.6% higher earnings for year-to-date 2023 compared to 2022, driven by “higher earnings from parts/service/repair and finance/service contract operations and lower operating expenses, partially offset by lower vehicle gross profit margin rates and higher floor plan interest expense.” New vehicle sales rose by 11.5% in the first nine months of the year, while used car sales declined by 4.6%. In addition, year-to-date 2023 earnings were lower for the other retailing businesses, which include Pampered Chef and See’s Candies, primarily due to the home furniture retailers, including Nebraska Furniture Mart. The home furnishing businesses have experienced “lower customer traffic,” with a 31.1% decline in earnings through September relative to 2022. Berkshire’s McLane unit had 69.7% higher profits for the third quarter and year-to-date pre-tax earnings 53.2% above 2022. The improvement in earnings “reflects increases in the gross margin rates and lower fuel expenses, partly offset by higher personnel expenses.” McLane is a wholesale distributor to retailers and restaurants. TTI
TTI
is a distributor of electronic components, and management noted that “since the third quarter of 2022, new orders have slowed in several regions and markets, particularly in the Asia Pacific region, in part attributable to elevated customer inventory levels and increasing price competition.” In another sign of a continued challenging economic backdrop, Berkshire expects the difficult conditions its TTI unit to “persist over the remainder of 2023 and into 2024.” It is not abnormal for distribution businesses to suffer from these issues after a period of supply chain issues and high demand. Pilot Travel Centers: Pilot is the largest operator of travel centers in North America, under the names Pilot and Flying J. In January 2023, Berkshire acquired an additional 41.4% ownership of Pilot for roughly $8.2 billion. As Berkshire’s ownership increased to 80% of the entity, it is now shown as a segment within the financials for the operating companies. According to management, Pilot’s “revenues and earnings are highly dependent on diesel fuel and gasoline volumes, prices and margins.” Pre-tax earnings fell by 59.5% for the third quarter and 44.3% year-to-date compared with 2022. Pre-tax earnings were hurt by “significantly lower fuel prices, as well as from lower fuel sales volumes,” while operating and interest expenses rose. Non-Controlled Businesses: This segment includes companies’ profits that must be accounted for under the equity method due to the size of ownership and influence on management. The after-tax equity method earnings have Berkshire’s proportionate share of profits attributable to its investments in Kraft Heinz (KHC), Occidental Petroleum
OXY
(OXY), and Berkadia. According to Bloomberg, Berkshire is Occidental Petroleum’s largest shareholder, with a 25.8% stake. More about the reasons for the Occidental investment is here. Other: The segment had a gain in the quarter primarily due to foreign currency exchange rate gains generated from bonds issued by Berkshire Hathaway and denominated in British Pounds, euros, and Japanese Yen. These foreign currency liabilities are not a concern as Berkshire has significant assets and earnings denominated in these foreign currencies. Investment gains from non-U.S. dollar investments generally offset these losses and vice versa depending on currency exchange rates. Though overwhelmed by the currency gains, there were losses in the segment created by amortizing intangible assets connected to companies purchased by Berkshire. Finally, other earnings include “Berkshire parent company investment income and corporate expenses.” Berkshire bought back almost $1.1 billion of its stock in the third quarter, down from $1.4 billion in the second quarter. Until an announcement in mid-2018, Berkshire had only made repurchases when the stock traded at less than 1.2 times the price-to-book (P/B) ratio. While that constraint is now relaxed, it is still a good indicator of the general range when aggressive repurchases will likely be seen. Berkshire’s price-to-book ratio was between 1.3 and almost 1.5 times during the quarter. Berkshire only intends to repurchase shares when the “repurchase price is below Berkshire’s intrinsic value, conservatively determined.” The price-to-book ratio remains a reasonable proxy for gauging Berkshire’s intrinsic value. Berkshire increased the pace of buybacks in September as the stock fell and valuation improved. Still, Warren Buffett and Charlie Munger’s judgment about its intrinsic value versus other available uses of capital can differ from that simple price-to-book measure. Berkshire Hathaway Valuation In addition, Berkshire made other purchases but was a net seller of publicly traded stocks in the third quarter. Berkshire bought $1.7 billion of stocks while selling almost $7 billion for a net decreased investment of nearly $5.3 billion in publicly traded equities. A close review of the firm’s 10Q filing revealed that approximately $2 billion of Berkshire’s Chevron (CVX) holding was sold during the quarter. More details will be found in Berkshire’s 13F filing with the SEC, released in mid-November. Berkshire Hathaway initially announced the acquisition of about 5% of five Japanese trading companies at the end of August 2020. These holdings are Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co. Ltd., and Sumitomo Corp. Buffett revealed in April 2023 that Berkshire increased its stakes in these companies to 7.4%. Buffett indicated that these were intended to be long-term holdings, and Berkshire may still increase its stake to 9.9%. The 13F does not include international stocks. Summary: Quarterly results are generally not meaningful for Berkshire since it is managed with a focus on increasing long-term value and not meeting quarterly hurdles. This ability to take advantage of time arbitrage has served the company and shareholders well over the years. The goal in looking at the results is to see if the segments are generally operating as expected and consider the capital allocation decisions made by Warren Buffett and Charlie Munger. In addition, reported earnings, which include realized and unrealized gains and losses, can obscure the true earnings power of the company. While net earnings were reported at a $12.8 billion loss, operating earnings for the third quarter were $10.8 billion, rose by 41% over 2022, and are 33% above pre-pandemic 2019 levels. In recent years, a significant capital allocation decision was made to increase share repurchases. This activity signals that Buffett and Munger believe Berkshire Hathaway’s price is below their intrinsic value estimate, which should be a value-creator for the remaining shareholders. Operating earnings per share were 43% above 2022 and 50% above 2019, with the additional benefit from share repurchases. Despite the solid operating earnings growth, Berkshire was not immune to the macroeconomic challenges. Berkshire’s third-quarter operating earnings, excluding the insurance segment, declined by 20% compared to the same quarter in 2022. As noted previously, weakness in railroad volumes and Berkshire’s significant exposure to residential housing have weighed on earnings outside of insurance. In addition, the utilities segment’s earnings were dented by the likely liability from wildfires. In addition, profit margins, excluding the insurance business, were down over three percentage points versus last year. So far, Buffett’s prediction at the annual meeting that most Berkshire businesses will likely have lower earnings in 2023 than the previous year has been correct. Despite the expectation that most of Berkshire’s businesses would do worse, Buffett forecasted higher 2023 overall operating earnings at the annual meeting. Buffett noted that insurance underwriting does not “correlate with economic activity.” Higher bond yields have provided significantly higher investment income for Berkshire’s insurance business in 2023, growing 75% year-over-year. With the tailwind from the insurance segment, Berkshire’s third quarter and year-to-date operating earnings growth has materially outpaced the S&P 500. Berkshire Hathaway 3Q Year-To-Date 2023: Pre-Tax Margin by Operating Segment Berkshire’s stock price outperformed the S&P 500 in the third quarter, rising by 2.6% versus a total return of -3.3% from the S&P 500. For 2023 through the end of October, Berkshire’s price is 10.5% higher, while the S&P 500 had a total return of 10.7%. Cash levels were $10 billion above last quarter. Berkshire retains a fortress balance sheet with cash and equivalents of almost $152 billion, providing flexibility to take advantage of opportunities, including repurchasing its stock. Berkshire has stated that there would be no stock repurchases if it would cause cash levels to fall below $30 billion. Despite the advanced age of its two top leaders, Warren Buffett, CEO and Chairman, and Charlie Munger, Vice Chairman, Berkshire has a solid bench to continue managing the firm. Greg Abel manages the non-insurance business and is the architect of Berkshire Hathway Energy. Ajit Jain manages the insurance businesses and will continue to do so. Ted Weschler and Todd Combs already manage a portion of Berkshire’s publicly traded stock portfolio, among other duties. Berkshire is managed to survive and emerge stronger from any economic or market downturn, and that philosophy is not likely to change, given the culture. Buffett’s statement that Berkshire “will buy $50 billion of our stock if it makes sense” should comfort those worried about the stock dropping sharply when Buffett and Munger depart the firm. Berkshire expanded the cash hoard on its Fort Knox balance sheet, allowing the unique ability to take advantage of investment opportunities in any downturn while virtually eliminating the risk of ruin. Despite the headline loss due to stock market weakness, Berkshire’s robust third-quarter operating results again illustrated the value of its diversified business mix. The insurance business more than offset the earnings weakness in many other business units. |
2024-11-04 | ETF Daily News | CVS Health Co. (NYSE:CVS) Shares Bought by Tortoise Investment Management LLC | Tortoise Investment Management LLC raised its stake in CVS Health Co. (NYSE:CVS–Free Report) by 31.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,416 shares of the pharmacy operator’s stock after acquiring an additional 584 shares during the period. Tortoise Investment Management LLC’s holdings in CVS Health were worth $167,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Several other large investors also recently bought and sold shares of CVS. Obermeyer Wood Investment Counsel Lllp acquired a new stake in shares of CVS Health during the second quarter worth about $327,000. New York Life Investment Management LLC boosted its stake in shares of CVS Health by 8.2% during the second quarter. New York Life Investment Management LLC now owns 236,497 shares of the pharmacy operator’s stock worth $16,349,000 after buying an additional 17,951 shares during the period. White Pine Investment CO boosted its stake in shares of CVS Health by 7.8% during the second quarter. White Pine Investment CO now owns 93,796 shares of the pharmacy operator’s stock worth $6,484,000 after buying an additional 6,811 shares during the period. Ascent Wealth Partners LLC boosted its stake in shares of CVS Health by 14.3% during the second quarter. Ascent Wealth Partners LLC now owns 12,234 shares of the pharmacy operator’s stock worth $846,000 after buying an additional 1,526 shares during the period. Finally, Summit Place Financial Advisors LLC boosted its stake in shares of CVS Health by 39.4% during the second quarter. Summit Place Financial Advisors LLC now owns 36,787 shares of the pharmacy operator’s stock worth $2,543,000 after buying an additional 10,390 shares during the period. Institutional investors and hedge funds own 75.99% of the company’s stock. Several brokerages have recently weighed in on CVS. Royal Bank of Canada decreased their target price on shares of CVS Health from $91.00 to $86.00 and set an “outperform” rating for the company in a research note on Thursday. Truist Financial cut their price target on shares of CVS Health from $103.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. Sanford C. Bernstein cut their price target on shares of CVS Health from $93.00 to $80.00 in a report on Tuesday, October 10th.StockNews.comraised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Tuesday, October 24th. Finally, Morgan Stanley cut their price target on shares of CVS Health from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $92.59. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverGet Our Latest Stock Analysis on CVS Shares ofCVSopened at $70.25 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.86 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $69.28 and a 200-day simple moving average of $70.39. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $104.83. The stock has a market cap of $90.23 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.81 and a beta of 0.58. CVS Health (NYSE:CVS–Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The pharmacy operator reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.08. CVS Health had a net margin of 2.47% and a return on equity of 15.36%. The business had revenue of $89.76 billion during the quarter, compared to analysts’ expectations of $88.29 billion. During the same period last year, the company posted $2.09 EPS. The company’s revenue was up 10.6% on a year-over-year basis. Equities analysts forecast that CVS Health Co. will post 8.6 EPS for the current fiscal year. The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 20th were paid a dividend of $0.605 per share. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.44%. CVS Health’s dividend payout ratio (DPR) is 36.50%. (Free Report) CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates. Want to see what other hedge funds are holding CVS?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for CVS Health Co. (NYSE:CVS–Free Report). |
2024-11-04 | ETF Daily News | abrdn plc Has $19.75 Million Position in Cardinal Health, Inc. (NYSE:CAH) | abrdn plc lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH–Free Report) by 50.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,801 shares of the company’s stock after selling 209,993 shares during the quarter. abrdn plc owned approximately 0.08% of Cardinal Health worth $19,746,000 at the end of the most recent quarter. A number of other hedge funds have also made changes to their positions in the company. Private Trust Co. NA increased its holdings in shares of Cardinal Health by 110.9% during the second quarter. Private Trust Co. NA now owns 1,624 shares of the company’s stock worth $154,000 after buying an additional 854 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Cardinal Health by 4.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,535 shares of the company’s stock worth $14,159,000 after buying an additional 7,431 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Cardinal Health during the 1st quarter worth about $692,000. LSV Asset Management raised its stake in shares of Cardinal Health by 0.3% in the first quarter. LSV Asset Management now owns 2,456,552 shares of the company’s stock worth $185,470,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Strategy Asset Managers LLC acquired a new position in shares of Cardinal Health during the first quarter worth approximately $665,000. Institutional investors and hedge funds own 86.01% of the company’s stock. CAH has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $93.00 to $101.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 16th. TD Cowen boosted their target price on Cardinal Health from $88.00 to $90.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 16th. Bank of America boosted their target price on Cardinal Health from $91.00 to $99.00 in a research report on Monday, July 17th. Morgan Stanley boosted their price objective on Cardinal Health from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. Finally, Evercore ISI dropped their price objective on Cardinal Health from $100.00 to $95.00 in a report on Wednesday, October 11th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $94.69. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverView Our Latest Analysis on Cardinal Health In other news, CEODeborah Weitzmansold 6,712 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $89.81, for a total transaction of $602,804.72. Following the completion of the sale, the chief executive officer now owns 44,202 shares of the company’s stock, valued at $3,969,781.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed throughthis hyperlink. In related news, CAO Mary C. Scherer sold 20,695 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $86.27, for a total transaction of $1,785,357.65. Following the completion of the transaction, the chief accounting officer now directly owns 10,649 shares in the company, valued at $918,689.23. The transaction was disclosed in a filing with the SEC, which can be accessed throughthis link. Also, CEODeborah Weitzmansold 6,712 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $89.81, for a total transaction of $602,804.72. Following the transaction, the chief executive officer now directly owns 44,202 shares of the company’s stock, valued at $3,969,781.62. The disclosure for this sale can be foundhere. In the last three months, insiders sold 95,052 shares of company stock valued at $8,401,034. 0.15% of the stock is owned by corporate insiders. Shares ofNYSE:CAHopened at $100.21 on Friday. Cardinal Health, Inc. has a 52 week low of $68.53 and a 52 week high of $102.46. The company has a 50 day moving average price of $90.12 and a two-hundred day moving average price of $88.85. The company has a market capitalization of $24.69 billion, a PE ratio of 101.22, a PEG ratio of 0.98 and a beta of 0.76. Cardinal Health (NYSE:CAH–Get Free Report) last announced its quarterly earnings results on Friday, November 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.33. Cardinal Health had a negative return on equity of 67.01% and a net margin of 0.13%. The company had revenue of $54.76 billion during the quarter, compared to the consensus estimate of $54.85 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 6.66 earnings per share for the current year. The firm also recently announced a quarterly dividend, which was paid on Sunday, October 15th. Investors of record on Tuesday, October 3rd were paid a dividend of $0.5006 per share. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.00%. Cardinal Health’s payout ratio is 202.02%. (Free Report) Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home. |
2024-11-04 | ETF Daily News | CoreFirst Bank & Trust Decreases Stake in The Cigna Group (NYSE:CI) | CoreFirst Bank & Trust lowered its position in The Cigna Group (NYSE:CI–Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,354 shares of the health services provider’s stock after selling 41 shares during the quarter. CoreFirst Bank & Trust’s holdings in The Cigna Group were worth $661,000 as of its most recent SEC filing. Several other large investors also recently added to or reduced their stakes in the company. Axiom Financial Strategies LLC bought a new stake in shares of The Cigna Group during the first quarter valued at about $212,000. Fairfield Bush & CO. bought a new stake in shares of The Cigna Group during the first quarter valued at about $40,000. Cibc World Market Inc. increased its position in shares of The Cigna Group by 52.6% during the first quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock valued at $4,547,000 after buying an additional 6,538 shares during the period. Vontobel Holding Ltd. increased its position in shares of The Cigna Group by 6.5% during the first quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock valued at $2,265,000 after buying an additional 566 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in shares of The Cigna Group by 36.5% during the first quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock valued at $307,000 after buying an additional 343 shares during the period. Hedge funds and other institutional investors own 85.32% of the company’s stock. Shares ofCIopened at $310.65 on Friday. The firm has a market cap of $91.95 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.12 and a beta of 0.65. The stock has a 50 day simple moving average of $291.98 and a two-hundred day simple moving average of $278.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.72 and a quick ratio of 0.72. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $340.11. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverThe Cigna Group (NYSE:CI–Get Free Report) last announced its quarterly earnings data on Thursday, November 2nd. The health services provider reported $6.77 earnings per share for the quarter, beating the consensus estimate of $6.68 by $0.09. The Cigna Group had a return on equity of 12.32% and a net margin of 3.57%. The firm had revenue of $49.05 billion during the quarter, compared to the consensus estimate of $48.14 billion. During the same quarter in the previous year, the company posted $6.04 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. On average, analysts forecast that The Cigna Group will post 24.8 earnings per share for the current fiscal year. The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Wednesday, December 6th will be given a $1.23 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $4.92 annualized dividend and a yield of 1.58%. The Cigna Group’s payout ratio is currently 22.40%. CI has been the topic of several analyst reports.StockNews.comupgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Royal Bank of Canada upped their price target on The Cigna Group from $300.00 to $327.00 and gave the company a “sector perform” rating in a research report on Friday. Edward Jones lowered The Cigna Group from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. JPMorgan Chase & Co. cut their price objective on The Cigna Group from $356.00 to $341.00 in a report on Friday, July 7th. Finally, Wells Fargo & Company boosted their price objective on The Cigna Group from $284.00 to $300.00 in a report on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $344.42. Read Our Latest Research Report on The Cigna Group In other The Cigna Group news, EVPCynthia Ryansold 3,768 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $282.22, for a total value of $1,063,404.96. Following the completion of the sale, the executive vice president now owns 5,503 shares in the company, valued at $1,553,056.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible throughthe SEC website. In related news, EVPCynthia Ryansold 3,768 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $282.22, for a total transaction of $1,063,404.96. Following the completion of the transaction, the executive vice president now owns 5,503 shares in the company, valued at $1,553,056.66. The sale was disclosed in a filing with the SEC, which is available throughthis hyperlink. Also, EVPNicole S. Jonessold 7,819 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $276.86, for a total value of $2,164,768.34. Following the transaction, the executive vice president now owns 30,069 shares of the company’s stock, valued at approximately $8,324,903.34. The disclosure for this sale can be foundhere. Over the last 90 days, insiders sold 23,837 shares of company stock worth $6,792,923. 0.60% of the stock is currently owned by insiders. (Free Report) The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers. |
2024-11-04 | ETF Daily News | Savant Capital LLC Reduces Position in The Cigna Group (NYSE:CI) | Savant Capital LLC decreased its position in The Cigna Group (NYSE:CI–Free Report) by 8.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,736 shares of the health services provider’s stock after selling 353 shares during the period. Savant Capital LLC’s holdings in The Cigna Group were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC). A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of The Cigna Group by 63,861.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 39,406,651 shares of the health services provider’s stock valued at $11,057,506,000 after buying an additional 39,345,041 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in The Cigna Group by 154,255.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock valued at $3,961,117,000 after buying an additional 11,947,096 shares during the period. Ameriprise Financial Inc. raised its position in shares of The Cigna Group by 22.7% in the first quarter. Ameriprise Financial Inc. now owns 4,346,293 shares of the health services provider’s stock worth $1,110,597,000 after acquiring an additional 804,805 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of The Cigna Group by 9.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,108,166 shares of the health services provider’s stock worth $862,423,000 after acquiring an additional 268,793 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of The Cigna Group during the 4th quarter valued at about $963,542,000. Hedge funds and other institutional investors own 85.32% of the company’s stock. In other The Cigna Group news, SVPHoeltzel Mary T. Agogliasold 12,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $291.00, for a total transaction of $3,564,750.00. Following the sale, the senior vice president now owns 2,093 shares of the company’s stock, valued at $609,063. The transaction was disclosed in a filing with the SEC, which can be accessed throughthe SEC website. In other news, EVP Nicole S. Jones sold 7,819 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $276.86, for a total value of $2,164,768.34. Following the completion of the sale, the executive vice president now directly owns 30,069 shares of the company’s stock, valued at $8,324,903.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available throughthis hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 12,250 shares of The Cigna Group stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $291.00, for a total transaction of $3,564,750.00. Following the completion of the transaction, the senior vice president now owns 2,093 shares in the company, valued at $609,063. The disclosure for this sale can be foundhere. Insiders have sold 23,837 shares of company stock valued at $6,792,923 over the last quarter. 0.60% of the stock is owned by insiders. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverShares ofCIopened at $310.65 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. The firm has a market cap of $91.95 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.12 and a beta of 0.65. The company’s 50-day moving average price is $291.98 and its 200 day moving average price is $278.05. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $340.11. The Cigna Group (NYSE:CI–Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The health services provider reported $6.77 earnings per share for the quarter, topping analysts’ consensus estimates of $6.68 by $0.09. The Cigna Group had a net margin of 3.57% and a return on equity of 12.32%. The firm had revenue of $49.05 billion during the quarter, compared to analysts’ expectations of $48.14 billion. During the same quarter last year, the company posted $6.04 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts forecast that The Cigna Group will post 24.8 earnings per share for the current year. The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Wednesday, December 6th will be given a dividend of $1.23 per share. The ex-dividend date is Tuesday, December 5th. This represents a $4.92 annualized dividend and a dividend yield of 1.58%. The Cigna Group’s dividend payout ratio (DPR) is currently 22.40%. CI has been the topic of a number of recent analyst reports. Bank of America increased their price target on The Cigna Group from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Cantor Fitzgerald boosted their price target on shares of The Cigna Group from $310.00 to $334.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. dropped their target price on shares of The Cigna Group from $356.00 to $341.00 in a research report on Friday, July 7th. Edward Jones lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, Royal Bank of Canada boosted their price objective on The Cigna Group from $300.00 to $327.00 and gave the stock a “sector perform” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $344.42. Read Our Latest Report on The Cigna Group (Free Report) The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers. |
2024-11-04 | ETF Daily News | Contrasting AdTheorent (NASDAQ:ADTH) & Jianpu Technology (NYSE:JT) | AdTheorent (NASDAQ:ADTH–Get Free Report) and Jianpu Technology (NYSE:JT–Get Free Report) are both small-cap business services companies, but which is the superior stock? We will contrast the two companies based on the strength of their dividends, analyst recommendations, institutional ownership, valuation, earnings, profitability and risk. This table compares AdTheorent and Jianpu Technology’s revenue, earnings per share and valuation. AdTheorent has higher earnings, but lower revenue than Jianpu Technology. Jianpu Technology is trading at a lower price-to-earnings ratio than AdTheorent, indicating that it is currently the more affordable of the two stocks. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverAdTheorent has a beta of 0.94, indicating that its share price is 6% less volatile than the S&P 500. Comparatively, Jianpu Technology has a beta of 0.57, indicating that its share price is 43% less volatile than the S&P 500. This is a summary of recent ratings and recommmendations for AdTheorent and Jianpu Technology, as provided by MarketBeat. AdTheorent currently has a consensus price target of $3.57, indicating a potential upside of 197.62%. Given AdTheorent’s higher possible upside, analysts plainly believe AdTheorent is more favorable than Jianpu Technology. This table compares AdTheorent and Jianpu Technology’s net margins, return on equity and return on assets. 16.0% of AdTheorent shares are owned by institutional investors. Comparatively, 12.0% of Jianpu Technology shares are owned by institutional investors. 7.1% of AdTheorent shares are owned by insiders. Comparatively, 40.1% of Jianpu Technology shares are owned by insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a stock will outperform the market over the long term. AdTheorent beats Jianpu Technology on 11 of the 13 factors compared between the two stocks. (Get Free Report) AdTheorent Holding Company, Inc., a digital media platform, provides programmatic digital advertising services for advertising agency and brand customers in the United States, Canada, the United Kingdom, France, and internationally. It uses machine learning and advanced data science to organize, analyze, and operationalize non-sensitive data to deliver real-world value for customers. The company offers predictive targeting solutions across various customer industry verticals and consumer screens, including customized targeting, measurement, and analytical services; and location-based targeting and geo-intelligence solutions. The company was founded in 2012 and is headquartered in New York, New York. (Get Free Report) Jianpu Technology Inc. operates a platform that provides online discovery and recommendation services for financial products in the People's Republic of China. The company's platform allows users to access to financial products, including loans, credit cards, insurance products, and other financial products. It recommends financial products to individual users and assists the financial service providers in targeting users with specific characteristics based on the users' financial needs and profile, as well as the products offerings and risk appetite of the financial service providers. The company also provides big data and system-based risk management, advertising and marketing, and other services primarily to financial service providers. It operates its platform under the Rong360 brand name. The company was founded in 2011 and is headquartered in Beijing, China. |
2024-11-04 | ETF Daily News | TrinityPoint Wealth LLC Has $471,000 Stock Position in International Business Machines Co. (NYSE:IBM) | TrinityPoint Wealth LLC lowered its holdings in International Business Machines Co. (NYSE:IBM–Free Report) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,518 shares of the technology company’s stock after selling 222 shares during the period. TrinityPoint Wealth LLC’s holdings in International Business Machines were worth $471,000 at the end of the most recent quarter. Other institutional investors have also recently bought and sold shares of the company. Fiduciary Alliance LLC bought a new stake in International Business Machines in the 2nd quarter valued at about $25,000. Live Oak Investment Partners bought a new stake in International Business Machines in the 4th quarter valued at about $30,000. GW&K Investment Management LLC bought a new stake in International Business Machines in the 1st quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in International Business Machines in the 2nd quarter valued at about $34,000. Finally, Pacific Center for Financial Services bought a new stake in International Business Machines in the 1st quarter valued at about $41,000. Institutional investors own 56.16% of the company’s stock. NYSE:IBMopened at $147.90 on Friday. International Business Machines Co. has a 12 month low of $120.55 and a 12 month high of $153.21. The stock has a market capitalization of $135.05 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 3.97 and a beta of 0.76. The firm has a fifty day simple moving average of $143.83 and a two-hundred day simple moving average of $137.13. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 2.11. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverInternational Business Machines (NYSE:IBM–Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The technology company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.08. International Business Machines had a net margin of 11.32% and a return on equity of 38.51%. The firm had revenue of $14.75 billion for the quarter, compared to analyst estimates of $14.73 billion. During the same period last year, the firm earned $1.81 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts expect that International Business Machines Co. will post 9.43 EPS for the current fiscal year. The company also recently declared a quarterly dividend, which will be paid on Saturday, December 9th. Investors of record on Friday, November 10th will be given a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend is Thursday, November 9th. International Business Machines’s payout ratio is currently 88.06%. A number of brokerages have recently weighed in on IBM. BMO Capital Markets upped their price target on shares of International Business Machines from $152.00 to $155.00 and gave the stock a “market perform” rating in a report on Thursday, October 26th. Bank of America increased their price objective on shares of International Business Machines from $152.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Wedbush reissued a “neutral” rating and issued a $140.00 price objective on shares of International Business Machines in a research note on Thursday, October 26th. Royal Bank of Canada dropped their price objective on shares of International Business Machines from $188.00 to $179.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. Finally, Stifel Nicolaus increased their price objective on shares of International Business Machines from $140.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $149.09. View Our Latest Analysis on International Business Machines (Free Report) International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity. Want to see what other hedge funds are holding IBM?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for International Business Machines Co. (NYSE:IBM–Free Report). |
2024-11-04 | ETF Daily News | CoStar Group, Inc. (NASDAQ:CSGP) Stock Position Increased by New York Life Investment Management LLC | New York Life Investment Management LLC boosted its position in CoStar Group, Inc. (NASDAQ:CSGP–Free Report) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,834 shares of the technology company’s stock after purchasing an additional 304 shares during the quarter. New York Life Investment Management LLC’s holdings in CoStar Group were worth $5,147,000 at the end of the most recent quarter. Other hedge funds have also recently bought and sold shares of the company. Quarry LP increased its stake in CoStar Group by 75.5% during the 1st quarter. Quarry LP now owns 358 shares of the technology company’s stock valued at $25,000 after buying an additional 154 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in CoStar Group during the 1st quarter valued at about $27,000. Resurgent Financial Advisors LLC acquired a new position in CoStar Group during the 4th quarter valued at about $30,000. Global Retirement Partners LLC increased its stake in CoStar Group by 355.6% during the 1st quarter. Global Retirement Partners LLC now owns 410 shares of the technology company’s stock valued at $30,000 after buying an additional 320 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its stake in CoStar Group by 274.8% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 461 shares of the technology company’s stock valued at $41,000 after buying an additional 338 shares during the period. 96.53% of the stock is currently owned by institutional investors. Shares ofCSGPopened at $77.38 on Friday. CoStar Group, Inc. has a one year low of $65.12 and a one year high of $92.36. The company has a 50-day moving average of $78.50 and a two-hundred day moving average of $80.23. The stock has a market cap of $31.60 billion, a price-to-earnings ratio of 78.16, a PEG ratio of 3.52 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.31 and a quick ratio of 13.31. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverCSGP has been the topic of several research analyst reports.StockNews.cominitiated coverage on shares of CoStar Group in a research note on Thursday, October 5th. They set a “hold” rating on the stock. TheStreet cut shares of CoStar Group from a “b” rating to a “c+” rating in a research note on Thursday, September 7th. Robert W. Baird lowered their price objective on shares of CoStar Group from $100.00 to $98.00 in a research note on Wednesday, July 26th. Citigroup lowered their price objective on shares of CoStar Group from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Finally, Bank of America lowered their price objective on shares of CoStar Group from $104.00 to $101.00 in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.09. Get Our Latest Research Report on CSGP (Free Report) CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information. Want to see what other hedge funds are holding CSGP?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for CoStar Group, Inc. (NASDAQ:CSGP–Free Report). |
2024-11-04 | ETF Daily News | Envestnet Asset Management Inc. Raises Position in CoStar Group, Inc. (NASDAQ:CSGP) | Envestnet Asset Management Inc. boosted its position in CoStar Group, Inc. (NASDAQ:CSGP–Free Report) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,423,645 shares of the technology company’s stock after acquiring an additional 9,313 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CoStar Group were worth $126,704,000 as of its most recent filing with the Securities & Exchange Commission. Other institutional investors have also added to or reduced their stakes in the company. Quarry LP increased its stake in CoStar Group by 75.5% in the first quarter. Quarry LP now owns 358 shares of the technology company’s stock valued at $25,000 after acquiring an additional 154 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in CoStar Group in the first quarter valued at $27,000. Global Retirement Partners LLC increased its stake in CoStar Group by 355.6% in the first quarter. Global Retirement Partners LLC now owns 410 shares of the technology company’s stock valued at $30,000 after acquiring an additional 320 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in CoStar Group in the fourth quarter valued at $30,000. Finally, Connectus Wealth LLC increased its stake in CoStar Group by 4.0% in the first quarter. Connectus Wealth LLC now owns 54,022 shares of the technology company’s stock valued at $37,000 after acquiring an additional 2,059 shares during the last quarter. Institutional investors own 96.53% of the company’s stock. Shares ofCSGPopened at $77.38 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.31 and a quick ratio of 13.31. CoStar Group, Inc. has a one year low of $65.12 and a one year high of $92.36. The company has a 50-day simple moving average of $78.50 and a two-hundred day simple moving average of $80.23. The firm has a market capitalization of $31.60 billion, a PE ratio of 78.16, a price-to-earnings-growth ratio of 3.52 and a beta of 0.87. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverA number of research analysts recently commented on CSGP shares. TheStreet cut CoStar Group from a “b” rating to a “c+” rating in a research note on Thursday, September 7th. Robert W. Baird reduced their price objective on CoStar Group from $100.00 to $98.00 in a research note on Wednesday, July 26th. Citigroup reduced their price objective on CoStar Group from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Needham & Company LLC reduced their price objective on CoStar Group from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, October 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.09. Read Our Latest Report on CoStar Group (Free Report) CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information. Want to see what other hedge funds are holding CSGP?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for CoStar Group, Inc. (NASDAQ:CSGP–Free Report). |
2024-11-04 | ETF Daily News | Philadelphia Trust Co. Has $1.26 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) | Philadelphia Trust Co. cut its stake in The PNC Financial Services Group, Inc. (NYSE:PNC–Free Report) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,003 shares of the financial services provider’s stock after selling 170 shares during the period. Philadelphia Trust Co.’s holdings in The PNC Financial Services Group were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission. Other large investors also recently modified their holdings of the company. Argent Trust Co boosted its stake in shares of The PNC Financial Services Group by 28.6% during the 1st quarter. Argent Trust Co now owns 8,334 shares of the financial services provider’s stock worth $1,059,000 after buying an additional 1,853 shares during the last quarter. Ruffer LLP bought a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at about $29,855,000. Arete Wealth Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at about $359,411,000,000. EA Series Trust bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at about $440,000. Finally, Border to Coast Pensions Partnership Ltd raised its holdings in shares of The PNC Financial Services Group by 20.2% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 106,703 shares of the financial services provider’s stock valued at $13,562,000 after purchasing an additional 17,938 shares during the period. 80.14% of the stock is currently owned by institutional investors and hedge funds. A number of brokerages have recently issued reports on PNC.StockNews.cominitiated coverage on shares of The PNC Financial Services Group in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Credit Suisse Group decreased their target price on shares of The PNC Financial Services Group from $145.00 to $135.00 in a research report on Wednesday, July 19th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of The PNC Financial Services Group in a research report on Tuesday, October 24th. Morgan Stanley decreased their target price on shares of The PNC Financial Services Group from $144.00 to $142.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 3rd. Finally, Jefferies Financial Group increased their price target on shares of The PNC Financial Services Group from $112.00 to $127.00 in a research report on Tuesday, October 10th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $150.99. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverCheck Out Our Latest Analysis on PNC PNC stockopened at $123.21 on Friday. The company has a fifty day moving average price of $119.32 and a 200-day moving average price of $122.97. The company has a market capitalization of $49.07 billion, a P/E ratio of 8.55, a PEG ratio of 1.07 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $170.27. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.82 and a current ratio of 0.82. The PNC Financial Services Group (NYSE:PNC–Get Free Report) last announced its earnings results on Friday, October 13th. The financial services provider reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. The PNC Financial Services Group had a net margin of 20.39% and a return on equity of 12.91%. The business had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the firm earned $3.78 earnings per share. The PNC Financial Services Group’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.79 EPS for the current year. The company also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Investors of record on Tuesday, October 17th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Monday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 43.03%. (Free Report) The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services. Want to see what other hedge funds are holding PNC?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC–Free Report). |
2024-11-04 | ETF Daily News | Bfsg LLC Takes $695,000 Position in Ally Financial Inc. (NYSE:ALLY) | Bfsg LLC acquired a new position in Ally Financial Inc. (NYSE:ALLY–Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 25,744 shares of the financial services provider’s stock, valued at approximately $695,000. Several other institutional investors have also recently bought and sold shares of the stock. Salem Investment Counselors Inc. grew its holdings in Ally Financial by 115.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 345 shares during the period. WealthPLAN Partners LLC acquired a new stake in Ally Financial during the 1st quarter worth $25,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Ally Financial by 167.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,200 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 751 shares during the period. Natixis acquired a new stake in Ally Financial during the 4th quarter worth $41,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Ally Financial by 618.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,718 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 1,479 shares during the period. Institutional investors own 86.04% of the company’s stock. Shares ofNYSE:ALLYopened at $27.14 on Friday. The company’s 50-day moving average price is $26.17 and its two-hundred day moving average price is $26.91. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.93 and a quick ratio of 0.93. Ally Financial Inc. has a one year low of $21.58 and a one year high of $35.78. The stock has a market capitalization of $8.19 billion, a PE ratio of 7.42 and a beta of 1.38. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverAlly Financial (NYSE:ALLY–Get Free Report) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03. Ally Financial had a net margin of 14.64% and a return on equity of 11.36%. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the firm posted $1.12 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities analysts forecast that Ally Financial Inc. will post 3.23 EPS for the current fiscal year. The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.42%. Ally Financial’s payout ratio is 32.79%. ALLY has been the subject of a number of analyst reports. BMO Capital Markets lowered their target price on shares of Ally Financial from $46.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 19th. TheStreet lowered shares of Ally Financial from a “b-” rating to a “c+” rating in a report on Friday, October 13th. JPMorgan Chase & Co. decreased their price target on shares of Ally Financial from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Tuesday, October 17th. TD Cowen started coverage on shares of Ally Financial in a report on Wednesday. They issued a “market perform” rating and a $28.00 price target for the company. Finally,StockNews.comstarted coverage on shares of Ally Financial in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Ally Financial has a consensus rating of “Hold” and a consensus price target of $29.78. View Our Latest Report on Ally Financial (Free Report) Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments. Want to see what other hedge funds are holding ALLY?Visit HoldingsChannel.comto get the latest 13F filings and insider trades for Ally Financial Inc. (NYSE:ALLY–Free Report). |
2024-11-04 | ETF Daily News | CoreFirst Bank & Trust Has $178,000 Position in The Allstate Co. (NYSE:ALL) | CoreFirst Bank & Trust lowered its stake in shares of The Allstate Co. (NYSE:ALL–Free Report) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,635 shares of the insurance provider’s stock after selling 161 shares during the quarter. CoreFirst Bank & Trust’s holdings in Allstate were worth $178,000 at the end of the most recent reporting period. Other large investors have also added to or reduced their stakes in the company. Applied Finance Capital Management LLC boosted its holdings in shares of Allstate by 0.9% in the 1st quarter. Applied Finance Capital Management LLC now owns 104,489 shares of the insurance provider’s stock valued at $11,578,000 after purchasing an additional 958 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Allstate by 8.7% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,748 shares of the insurance provider’s stock valued at $627,000 after purchasing an additional 460 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Allstate by 36.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 63,018 shares of the insurance provider’s stock valued at $6,872,000 after purchasing an additional 16,851 shares in the last quarter. Pictet Asset Management SA boosted its holdings in shares of Allstate by 2.7% in the 1st quarter. Pictet Asset Management SA now owns 135,878 shares of the insurance provider’s stock valued at $15,057,000 after purchasing an additional 3,572 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Allstate by 19.3% in the 1st quarter. ProShare Advisors LLC now owns 63,582 shares of the insurance provider’s stock valued at $7,046,000 after purchasing an additional 10,271 shares in the last quarter. Institutional investors and hedge funds own 77.23% of the company’s stock. Shares ofALLopened at $131.73 on Friday. The company has a 50-day simple moving average of $115.22 and a two-hundred day simple moving average of $112.61. The Allstate Co. has a one year low of $100.57 and a one year high of $142.15. The firm has a market capitalization of $34.46 billion, a PE ratio of -16.61 and a beta of 0.52. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.37 and a quick ratio of 0.37. Want More Great Investing Ideas?10 Stocks to Sell NOW!3 Stocks to DOUBLE This YearThe 10 Best Stocks to Own in 20237 Stocks to Buy and Hold ForeverAllstate (NYSE:ALL–Get Free Report) last announced its quarterly earnings data on Thursday, November 2nd. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.42. Allstate had a negative net margin of 3.51% and a negative return on equity of 10.53%. The company had revenue of $14.50 billion during the quarter, compared to analyst estimates of $12.78 billion. During the same period in the previous year, the business earned ($1.56) EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts anticipate that The Allstate Co. will post -2.24 EPS for the current fiscal year. Several research firms recently weighed in on ALL. Bank of America cut their price objective on Allstate from $143.00 to $138.00 in a report on Wednesday, August 2nd.StockNews.combegan coverage on Allstate in a report on Thursday, October 5th. They set a “hold” rating on the stock. Citigroup raised their price objective on Allstate from $135.00 to $156.00 and gave the company a “buy” rating in a report on Friday, October 20th. Raymond James cut their price objective on Allstate from $155.00 to $145.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 3rd. Finally, Roth Mkm raised their target price on Allstate from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.57. Read Our Latest Report on Allstate (Free Report) The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names. |
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