FBR Capital Maintains a 'Market Perform' on Delphi Financial Group (DFG); Q1 Result In Line, Diversified Business Paying Off
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Price: $45.53 --0%
Rating Summary:
1 Buy, 0 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 0 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains a 'Market Perform' on Delphi Financial Group (NYSE: DFG), PT increased from $33 to $35.
FBR analyst says, "Delphi Financial Group reported 1Q11 operating EPS of $0.91, in line with the FBR and Street estimates of $0.91. Better-than-expected core premium growth and solid investment income offset slightly lower asset accumulation results. The benefit ratio came in at 69.5%, better than our 70.6% forecast. Our 2011E EPS estimate of $3.70 is unchanged, and is toward the midpoint of Delphi's FY11 guidance range of $3.50–$3.85. Our 2012E EPS estimate is also unchanged at $3.85. We maintain our rating, but are increasing our price target to $35, which is 1.2x YE11 BV. While DFG continues to deliver solid operating results, we are generally cautious on disability insurance exposed names, favoring more life- and annuity focused insurers."
For more ratings news on Delphi Financial Group click here and for the rating history of Delphi Financial Group click here.
Shares of Delphi Financial Group closed at $31.16 yesterday.
FBR analyst says, "Delphi Financial Group reported 1Q11 operating EPS of $0.91, in line with the FBR and Street estimates of $0.91. Better-than-expected core premium growth and solid investment income offset slightly lower asset accumulation results. The benefit ratio came in at 69.5%, better than our 70.6% forecast. Our 2011E EPS estimate of $3.70 is unchanged, and is toward the midpoint of Delphi's FY11 guidance range of $3.50–$3.85. Our 2012E EPS estimate is also unchanged at $3.85. We maintain our rating, but are increasing our price target to $35, which is 1.2x YE11 BV. While DFG continues to deliver solid operating results, we are generally cautious on disability insurance exposed names, favoring more life- and annuity focused insurers."
For more ratings news on Delphi Financial Group click here and for the rating history of Delphi Financial Group click here.
Shares of Delphi Financial Group closed at $31.16 yesterday.
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