Presidential Life Corp. is up 36.8% today, after the company
announced that it agreed to be acquired by Athene Annuity and
Life Insurance Company for $415 million in cash. Shareholders
will receive $14 a share, which caused the stock to reach its
highest point since 2008. The deal is expected to be closed later
Presidential Life Corp. is an insurance holding company that,
through its wholly owned subsidiary Presidential Life Insurance
Company, operates principally in a single business segment with
two primary lines of business-individual annuities and individual
life insurance. Presidential Life Corp. has a market cap of $291
million; its shares were traded at around $13.9 with a P/E ratio
of 8.2 and P/S ratio of 1.1. The dividend yield of Presidential
Life Corp. stocks is 2.5%.
One guru has a stake in Presidential Life Corp.
owns 160,700 shares as of 03/31/2012, which accounts for 0.26% of
the $703 million portfolio of MFP Investors LLC. No insiders have
recently traded in the company. PLFE has a predictability rating
of 1 star.
Presidential Life Corp. has an average annual revenue growth rate
of -10.9% a year. Earnings per share were positive for 9 out of
the last 10 years, but heavily fluctuate year to year. The
company holds $112 million in cash and has no long-term debt.
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