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Principal's Winning Website

Thu, 20 Aug 2009 02:07:23 GMT

Principal Financial Group’s (PFG) defined contribution plan sponsor website has been ranked first for three consecutive quarters by DALBAR. Additionally, Principal’s defined contribution plan participant site was ranked in DALBAR’s top 10. DALBAR is one of the nation’s leading financial-services market research firms. Principal has also launched iGoogle and text messaging features for its Retirement Plan participants. iGoogle is a personalized web page provided by Google Inc. (GOOG). ? Principal is a leading provider of retirement savings, investment and insurance products and services and competes with companies such as Ameriprise Financial, Inc. ([More...]

To What Degree Were AIG’s Operating Insurance Subsidiaries Sound?

Wed, 29 Apr 2009 05:09:30 GMT

Hey, friends. My piece on AIG is done, and I will be posting over the next few days, and resume a more normal posting schedule. Here it is: Summary Aside from the mortgage insurers, the P&C subsidiaries were basically sound, though with some issues such as capital stacking, affiliated assets, etc., as mentioned below. The non-mortgage P&C subsidiaries didn’t have a great 2008, but they would have survived as standalone entities. The life and mortgage subsidiaries are another matter. Without the help of the US Government, many of them would have failed. Even now, given the levels of affiliated assets, capital stacking, deferred tax assets, etc., they are not in great shape now should there be another surprise. Profitability is likely to be lower in the future than in the banner years of the middle of the 2000s[More...]

Dividend Investors Watch Out

Mon, 02 Mar 2009 17:26:00 GMT

Two more companies joined the ranks of the dividend cutters, as PNC Financial (PNC) and International Paper (IP) both took a significant bite out of their yields. The move is clearly an effort to strengthen the balance sheet as PNC will be able to conserve $1 billion in capital per year because of this 85% reduction. This strategic move was not hard to anticipate because PNC’s yield had crept up over 10% and the dividend payout ratio was about 93% of this year’s expected profits. [More...]

Major ADRs Hit New 52-Week Low On Global Sell-Off

Fri, 24 Oct 2008 16:52:00 GMT

The financial crisis and deepening credit crunch is affecting global stocks as the companies prepare for next year by raising capital and assess the long-term risks.[More...]

My Thoughts on the Next 24 Hours...

Tue, 16 Sep 2008 14:31:00 GMT

These are very interesting times... At this point in time, after passing up some deals which could have saved AIG, I wouldn't be surprised if we saw at least part if not all of AIG being bought at bargain basement prices by one of its major competitors. I think it will be tough for them to find financing any other way, especially after the recent downgrades. However, I haven't been following the industry too carefully, so it would be tough for me to speculate on an appropriate suitor (list could include ING, Allianz, [More...]

Analyst Comments: Toyota, Best Buy, LDK Solar, Beacon Roofing, Acusphere, Gerdau, Deere, AXA Group

Wed, 13 Aug 2008 22:11:00 GMT

In 2009 first quarter, Toyota Motor Corp. (TM) reported diluted earnings per ADR of $2.14 compared to $2.94 in the corresponding quarter of the previous year. Net revenues decreased 4.7% year over year to $5.92 billion. The company attributes the decrease in revenues to soaring raw material prices and exchange rates fluctuations. Consolidated vehicle sales for the quarter amounted to 2.19 million units, an increase of 24,000 units compared with the same period of fiscal 2008. The company continues to expand its production capacity in a manner that increases efficiency and meets local demand and simultaneously powering it to emerge as the world?s financially strongest automaker. A strong presence in North America has been further consolidated by gaining market share from the leading U.S. automakers. Moreover, the company also has a strong cash flow and a[More...]

Analyst Comments: Agco, AXA Group, SID, Genta, DPL,

Thu, 31 Jul 2008 10:55:00 GMT

Agco Corp. (AG) reported second quarter EPS of $1.34, above our estimate at $0.90, due to a smaller-than-expected loss in North America and continued robust growth in South America and the EMEA [Europe, Middle East and Asia] region. The sales growth was broad-based, with every geographic region posting a double-digit sales increase. The growth in commercial farm income and acreage is driving demand for high-horsepower tractors. While North America reported a loss, we expect a second-half profit recovery on the back of favorable currency translation, higher margins and double-digit sales growth. Our target price is $63.50, or 16.4x our FY08 EPS estimate. We were extremely pleased by the narrower loss in North America. AG reported a loss of $1.3 million, which was better than our expectations of -$11.8 million, and better than the year-ago level of -$14.8 million. Strong sales[More...]

25 Stocks Ben Graham Would Like

Sun, 27 Apr 2008 20:02:50 GMT

Benjamin Graham is widely regarded to be the founder of modern value investing. His greatest student, Warren Buffett, attributes much of his success to Graham’s teachings.[More...]

Analyst Comments: DPL, AXA Group, Masco Corporation, RIO, Telephone and Data Systems, Merck, Entergy

Tue, 04 Mar 2008 14:56:44 GMT

DPL, Inc. (DPL) continues to benefit from its stable regulated electric power operations. In 2007, the company sailed smoothly on higher retail rates and volumes coupled with increased wholesale and RTO ancillary revenue.[More...]

Commentary and Stocks for Friday

Thu, 28 Feb 2008 21:15:52 GMT

After publishing the first installment of Build Your Own Investment Portfolio, Mebane Faber from World Beta sent me a link, reminding me to bring up risk parity portfolios. I first saw the concept a few years ago when The Quant pointed me to Ray Dalio’s Engineering Targeted Returns and Risk (more at Bridgewater). At the bottom of Mebane’s post were some links to PanAgora’s

Krungthai-AXA posted statutory profits of 691 million baht the first nine months, 62 percent higher than the 426 million baht it earned in the same period last year.

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Sumitomo Trust, Axa Unit to Launch Real Estate Fund for Japan Market

Mon, 19 Oct 2009 17:49:00 GMT

Oct. 19--TOKYO -- Sumitomo Trust & Banking Co. said Monday it and a unit of French insurance firm Axa have agreed to establish an investment fund targeting the Japanese real estate market.
The fund to be jointly set up by Sumitomo Trust and Axa Real Estate Investment Managers will focus mainly on investing in office buildings in Tokyo's 23 wards, the Japanese bank said.
The Japanese real estate market has remained stagnant since last year's collapse of U.S. investment bank Lehman Brothers Holdings Inc.

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Evening Standard, London, Market Report Column

Wed, 15 Jul 2009 17:49:00 GMT

Jul. 15--A further bout of consolidation may be under way before long in the European insurance sector.
Shares in insurer RSA were quick out of the blocks today with a rise of 3.2p to 120.8p on turnover of more than 17 million shares following a mutter that it has attracted the attention of Assicurazioni Generali, Italy's biggest financial services supplier.
City speculators say the Italian group may be lining up an offer of 140p a share for RSA, which at the close of business last night had a market tag of almost £4 billion.

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AXA Sees Momentum Continuing

Wed, 01 Apr 2009 22:47:00 GMT

Apr. 1--PENANG -- Despite unfavourable economic conditions and intensifying competition, notably in motor insurance, AXA Insurance Plc, remains firm on its growth target of 10-12 percent this year after a profitable 2008.
Motor insurance accounts for 54 percent of the company's premiums.
Mr Kheedhej said AXA Insurance was also committed this year to leveraging business growth of its partners by supporting fast service with IT to manage the cash-before-cover system now being applied to motor insurance in Thailand.

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AME Info, Abu Dhabi, United Arab Emirates, Finance and Economy Briefs - Apr 2 2009 12:52PM

Wed, 01 Apr 2009 16:46:00 GMT

Apr. 1--SAUDI TADAWUL INDEX GAINS LITTLE: Saudi investors remained cautious ahead of the G20 summit starting tomorrow.
ABU DHABI MARKET DOWN 1.87 PERCENT: The Abu Dhabi Securities Exchange (ADX) declined by 1.87 percent to 2,441.28 points.
Trading volumes were low in Abu Dhabi, with some 110m shares changing hands.

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Daily Mail, London, Business Briefs Column - Mar 5 2009 12:54PM

Mon, 02 Mar 2009 16:49:00 GMT

Mar. 2--NO CONFIDENCE: Business confidence is at rock bottom, says KPMG.
Its quarterly national business confidence survey revealed that 81pc of senior executives questioned now view the prospects for the economy as either "bad" or "very bad."
EQUITABLE LIFE CHIEF THOMSON RESIGNS: Equitable Life chief executive Charles Thomson is quitting eight years after being drafted in to save the troubled insurer.

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RidgewaterEquity.Com Free Fundamental Sector &Amp; Market Research on ALL, BVF, AXA, CBT, TUP and UA

Tue, 13 Oct 2009 12:07:00 GMT

RidgewaterEquity.com inspires to bring the best from the internet under one roof, providing you with a one click option to view what the market, researchers and financial pundits worldwide have to say about any particular large cap stocks in any given financial environment.
Once you sign up as a free member you will have free unlimited access to all our reports, research tools and more.
We have recently begun in-depth analysis of the following equities & their respective sectors:

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AXA Equitable Celebrates 150th Anniversary of Founding

Thu, 23 Jul 2009 12:21:00 GMT

AXA Equitable Life Insurance Company announced today that Sunday, July 26, 2009, will mark the organization's 150th anniversary. Founded in 1859 as The Equitable Life Assurance Society of the United States , the company began in a $75 dollar-a-month rented office at 98 Broadway in New York City. The Equitable demutualized in 1992 in what was the largest insurance company stock conversion at the time. The company began its partnership with AXA Group that same year, when the Paris-based global insurer became the company's largest single investor. AXA Group bought the remaining shares of The Equitable in 2000, giving birth to AXA Equitable.'We are honored to reach such a significant milestone, and doing so is a testament to the passion of our founder, Henry Hyde,' said Christopher M. 'Kip' Condron, chairman and chief executive officer of AXA Equitable. 'The core principle he instilled a century-and-a-half ago -- commitment to our customers -- is the very same doctrine that guides us today.'A hallmark of a market leader is a company's ability to be agile in the midst of turmoil. Founded on the eve of the Civil War, AXA Equitable has weathered many challenges. 'In our first 150 years, we have endured two world wars, the Great Depression, 18 recessions and a terrorist attack on our own soil,' said Mr. Condron. 'We have emerged stronger as a result of these experiences. As we look forward to our next 150 years, we will draw on both our storied history and the talent of our employees and financial professionals to make us even smarter, stronger and more focused on meeting the evolving needs our clients.'The company's first customer was the father of then 25-year-old founder, Hyde. Today, AXA Equitable serves more than 3 million clients in communities across the Unites States, Puerto Rico and the Virgin Islands. 'Throughout our partnership, AXA Equitable has been a model of success - achieved through prudently managed expenses and innovative life and retirement products introduced to the marketplace,' said Henri de Castries, chairman and chief executive officer of AXA Group. 'On behalf of AXA operations from 50 countries around the world, I congratulate AXA Equitable on its 150 anniversary, and I look forward to the U.S. operation continuing to be an integral part of the global vision for AXA Group.'Highlights of AXA Equitable's legacy as a forerunner in the evolution of the life insurance industry include:Maintaining a strong balance sheet in order to meet promises to customers. Instead of accepting IOUs from policyholders - as was the industry practice in 1859 - Hyde insisted on cash payments to create adequate capital reserves and promote prudent growth.Cultivating within six short years of its inception the largest sales force in the industry.Designing an annuity for individuals that paid dividends and offered Americans in the 1860s a new method of saving for retirement.Introducing in 1881 the practice of paying death claims immediately and without protest - a departure from the industry's then typical and often prolonged waiting period.Being one of the first companies to offer group insurance products for both employers and employees. In 1911, the company began implementing innovative underwriting techniques and risk structures that made insurance more affordable to a growing population.Pioneering variable life insurance, the first investment-oriented insurance product to command a significant market share .Introducing in 1996 the first variable annuity with a 'living benefit' guarantee that offered investors the ability to receive guaranteed income for life regardless of market directions. This innovation pioneered by AXA Equitable is now a common feature of most variable annuities sold today. Launching My Retirement Shop , a first-of-its-kind retirement lifestyle Web site created by a financial services company. Unveiled in 2008, this comprehensive, education-based site brings individuals near or at retirement closer to the information and resources they want and need to live the retirement they desire. A Browse through HistoryTo share in its sesquicentennial, AXA Equitable invites the public tohttp://www.axa-equitable.com/axa/history.html to view a historical timeline of the company, from its debut on Broadway in 1859 to its national presence as an industry leader today. About AXA EquitableIn business since 1859, AXA Equitable Life Insurance Company is a leading financial protection company and one of the nation's premier providers of life insurance, annuity, and investment products and services. The company's products and services are distributed to individuals and business owners through its retail distribution channel, AXA Advisors, LLC; to the financial services market through its wholesale distribution channel, AXA Distributors, LLC; and to corporations and their employees through its corporate distribution channel, Corporate Markets.AXA Equitable, a subsidiary of AXA Financial Inc., is part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management. 'AXA Group' refers to AXA, a French holding company for an international group of insurance and financial services companies together with its direct and indirect consolidated subsidiaries. While a part of the AXA Group, AXA Equitable is solely responsible for its annuity and life insurance obligations. For more information, visit www.axa-equitable.com.AXA Equitable Life Insurance Company issues life insurance and annuity products. Guarantees in the life insurance and annuity products are based on the claims-paying ability of AXA Equitable Life Insurance Company. Variable products are co-distributed through affiliates, AXA Advisors, LLC and AXA Distributors, LLC. AXA Equitable and AXA Advisors do not provide legal or tax advice.[More...]

The Ronald H. Brown Center for Civil Rights and Economic Development at St. John's University School of Law Partners with AXA Equitable and Hughes Hubbard & Reed to Enhance Summer Law School Prep Program

Tue, 23 Jun 2009 12:57:00 GMT

Partnership Will Offer Private Sector Internships and Formal Mentoring Program for the Ronald H. Brown Center Students[More...]

A.M. Best Revises Outlook to Negative for AXA Financial, Inc. And Its Subsidiaries

Fri, 12 Jun 2009 21:47:00 GMT

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of "aa-" of certain life insurance subsidiaries of AXA Financial, Inc. (AXA Financial) (New York, NY) including its lead operating subsidiary, AXA Equitable Life Insurance Company (AXA Equitable) (New York, NY).
Concurrently, A.M. Best has revised the outlook to negative from stable and affirmed the ICR of "a-" of AXA Financial and the group's existing debt ratings.
AXA Financial is a subsidiary of AXA S.A. (Paris, France) (NYSE: AXA).

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AXA Opens Its First Campus in the Japan Asia-Pacific Region in Singapore

Wed, 08 Apr 2009 09:56:00 GMT

AXA Opens Its First Campus in the Japan Asia-Pacific Region in Singapore[More...]

AXA Equitable To Host Free Thought Leadership Program Aimed At Addressing Today's Unprecedented Retirement Crisis

Tue, 31 Mar 2009 17:10:00 GMT

Distinguished Moderator and Panelists Will Share Real-Time Insights During Interactive Program, 'Retirement Crisis: Now What?'[More...]

AXA Equitable Enhances Flagship Universal Life Insurance Coverage

Mon, 30 Mar 2009 14:22:00 GMT

Redesigned Product Offers Features Designed to Help Clients Navigate Today's Tough Economy[More...]

First Year Results of the AXA Research Fund: Over Euro 13 Million Allocated for Research in 2008

Tue, 24 Mar 2009 09:31:00 GMT

The AXA Research Fund closed out its first year of existence. During the year ended, the Fund granted more than Euro 13 million to various European research institutions.[More...]

AXA Equitable Announces Three Senior Vice President Appointments

Fri, 13 Feb 2009 17:23:00 GMT

AXA Equitable Life Insurance Company announced today that Vincent Cohan, David Kahal and Suzanne van Staveren each have been elected to the position of senior vice president. The appointments were confirmed during a Board of Directors meeting held yesterday afternoon.[More...]

AXA Equitable Launches Online Beneficiary Resource Center

Thu, 12 Feb 2009 12:54:00 GMT

Full-Service Site Helps Beneficiaries Navigate Through a Difficult Time[More...]