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Y

Alleghany

$566.78

5.05 (0.90%)

07:08
09/13/17
09/13
07:08
09/13/17
07:08

Copperpoint Mutual Insurance to acquire Pacific Compensation Insurance

CopperPoint Mutual Insurance Company announced a definitive agreement to acquire Pacific Compensation Insurance Company from Alleghany Insurance Holdings for $150M in cash. The combined book of underwriting business for the two companies will represent approximately $400M in premium and a combined asset base of nearly $4.1B, with $1.5B in policyholder surplus. "The acquisition of PacificComp represents a significant milestone in CopperPoint's geographic expansion and diversification initiatives. PacificComp brings a proven track record, strong underwriting discipline and focused approach to serving businesses in the California market. The two companies share complementary strengths, including expertise in workers' compensation and a commitment to providing the highest quality customer experience through select independent agents," the company said. Beyond this synergy, CopperPoint's launch of commercial lines to its workers' compensation customers in Arizona opens opportunities to bring new products and services to the California market. Upon closing, PacificComp will continue to operate under its current name as part of the broader CopperPoint family of companies. Terms of the agreement include the purchase of adverse development reinsurance cover on PacificComp's pre-acquisition claims. The transaction is expected to close at the end of the year subject to customary closing conditions and regulatory review and approvals.

Y Alleghany
$566.78

5.05 (0.90%)

09/11/17
JMPS
09/11/17
UPGRADE
Target $625
JMPS
Outperform
Alleghany upgraded to Outperform from Market Perform at JMP Securities
JMP Securities analyst Matthew Carletti said Hurricane Irma still has the potential to be the largest insured natural catastrophe event in U.S. insurance industry history, though he believes that the property catastrophe market will see a market turn at the coming January 1 renewal. He recommends investors focus near-term on insurers that have lower-than-peer exposure to the event, such as Chubb (CB) and Alleghany (Y), which he upgraded to Outperform from Market Perform with a $625 price target. He also pointed to Amerisafe (AMSF) and ProAssurance (PRA) as insurers with no exposure to Irma losses that have been caught up in the pre-Irma selloff in the space.

TODAY'S FREE FLY STORIES

HUBS

HubSpot

$72.15

-1.75 (-2.37%)

17:47
09/26/17
09/26
17:47
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17:47
Earnings
HubSpot raises Q3 EPS view to (4c)-(2c) from (10c)-(8c), consensus (9c) »

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CSCO

Cisco

$33.76

0.04 (0.12%)

17:46
09/26/17
09/26
17:46
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17:46
Periodicals
Cisco to cut around 310 headquarters jobs, Bloomberg reports »

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HUBS

HubSpot

$72.15

-1.75 (-2.37%)

17:45
09/26/17
09/26
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Hot Stocks
Breaking Hot Stocks news story on HubSpot 

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NKE

Nike

$53.70

0.47 (0.88%)

17:42
09/26/17
09/26
17:42
09/26/17
17:42
Earnings
Nike sees FY18 revenue growth in mid-single digit range, consensus $36.01B »

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NKE

Nike

17:41
09/26/17
09/26
17:41
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17:41
Earnings
Nike sees Q2 revenue growth in low single digit range, consensus $8.48B »

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LLNW

Limelight Networks

$3.80

0.01 (0.26%)

17:36
09/26/17
09/26
17:36
09/26/17
17:36
Conference/Events
Limelight Networks management to meet with JMP Securities »

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CTAS

Cintas

$136.10

-0.77 (-0.56%)

, MU

Micron

$34.18

-0.69 (-1.98%)

17:35
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Hot Stocks
On The Fly: After Hours Movers »

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CTAS

Cintas

$136.10

-0.77 (-0.56%)

MU

Micron

$34.18

-0.69 (-1.98%)

EDIT

Editas Medicine

$20.30

-0.83 (-3.93%)

TWTR

Twitter

$16.59

-0.39 (-2.30%)

NKE

Nike

$53.70

0.47 (0.88%)

KRNT

Kornit Digital

$17.15

-0.15 (-0.87%)

WLKP

Westlake Chemical Partners

$24.10

0.15 (0.63%)

ITCI

Intra-Cellular

$19.23

-0.57 (-2.88%)

ASND

Ascendis Pharma

$37.10

0.97 (2.68%)

03/08/13
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NKE

Nike

$53.70

0.47 (0.88%)

17:31
09/26/17
09/26
17:31
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17:31
Hot Stocks
Nike: North America marketplace still undergoing 'significant' transformation »

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BVXV

BiondVax

17:29
09/26/17
09/26
17:29
09/26/17
17:29
Hot Stocks
Breaking Hot Stocks news story on BiondVax »

Eastern Capital reports…

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NKE

Nike

$53.70

0.47 (0.88%)

17:23
09/26/17
09/26
17:23
09/26/17
17:23
Hot Stocks
Nike 'bullish' on long-term opportunity in North America. »

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OIS

Oil States

$25.75

0.25 (0.98%)

, STL

Sterling Bancorp

$24.10

0.15 (0.63%)

17:22
09/26/17
09/26
17:22
09/26/17
17:22
Hot Stocks
Breaking Hot Stocks news story on Oil States, Sterling Bancorp »

Oil States to replace…

OIS

Oil States

$25.75

0.25 (0.98%)

STL

Sterling Bancorp

$24.10

0.15 (0.63%)

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TWTR

Twitter

$16.59

-0.39 (-2.30%)

17:21
09/26/17
09/26
17:21
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17:21
Hot Stocks
Twitter to begin testing longer 280 character Tweets with small group »

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KEM

Kemet

, AF

Astoria Financial

$21.09

0.08 (0.38%)

17:21
09/26/17
09/26
17:21
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17:21
Hot Stocks
Breaking Hot Stocks news story on Kemet, Astoria Financial »

Kemet to replace Astoria…

KEM

Kemet

AF

Astoria Financial

$21.09

0.08 (0.38%)

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STL

Sterling Bancorp

$24.10

0.15 (0.63%)

, OIS

Oil States

$25.75

0.25 (0.98%)

17:20
09/26/17
09/26
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Hot Stocks
Sterling Bancorp to repalce Oil States in S&P 400 at open on 10/2 »

Sterling Bancorp (STL) …

STL

Sterling Bancorp

$24.10

0.15 (0.63%)

OIS

Oil States

$25.75

0.25 (0.98%)

AF

Astoria Financial

$21.09

0.08 (0.38%)

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TWTR

Twitter

$16.59

-0.39 (-2.30%)

17:20
09/26/17
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Hot Stocks
Twitter jumps after announcing testing for longer Tweets »

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SIX

Six Flags

$58.02

0.25 (0.43%)

, PRXL

Parexel

$88.05

0.035 (0.04%)

17:18
09/26/17
09/26
17:18
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17:18
Hot Stocks
Six Flags to replace Parexel in S&P 400 at open on 10/2 »

Pamplona Capital…

SIX

Six Flags

$58.02

0.25 (0.43%)

PRXL

Parexel

$88.05

0.035 (0.04%)

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  • 28

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NKE

Nike

17:16
09/26/17
09/26
17:16
09/26/17
17:16
Hot Stocks
Nike says Q1 online sales up 19% »

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HOMB

Home Bancshares

$24.05

0.28 (1.18%)

, SGBK

Stonegate Bank

$51.62

0.59 (1.16%)

17:11
09/26/17
09/26
17:11
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17:11
Hot Stocks
Home Bancshares announces completion of the acquisition of Stonegate Bank »

Home BancShares (HOMB)…

HOMB

Home Bancshares

$24.05

0.28 (1.18%)

SGBK

Stonegate Bank

$51.62

0.59 (1.16%)

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  • 19

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TWTR

Twitter

$16.59

-0.39 (-2.30%)

17:11
09/26/17
09/26
17:11
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17:11
Hot Stocks
Twitter to begin testing longer 280 character tweets with small group »

Aliza Rosen, product…

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AMH

American Homes 4 Rent

$22.03

0.04 (0.18%)

17:08
09/26/17
09/26
17:08
09/26/17
17:08
Hot Stocks
American Homes 4 Rent estimates to pay $10M in damage from recent hurricanes »

American Homes 4 Rent…

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TMUS

T-Mobile

$63.03

0.14 (0.22%)

17:05
09/26/17
09/26
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17:05
Hot Stocks
T-Mobile to acquire remaining interest of iWireless from Aureon »

T-Mobile US announced the…

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  • 02

    Oct

ZSAN

Zosano Pharma

$0.79

-0.0498 (-5.93%)

17:04
09/26/17
09/26
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09/26/17
17:04
Hot Stocks
Zosano Pharma provides patent application update »

Zosano Pharma received…

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ELUXY

Electrolux AB

$69.63

-0.2675 (-0.38%)

17:02
09/26/17
09/26
17:02
09/26/17
17:02
Downgrade
Electrolux AB rating change  »

Electrolux AB downgraded…

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NOC

Northrop Grumman

$284.74

3.37 (1.20%)

17:01
09/26/17
09/26
17:01
09/26/17
17:01
Hot Stocks
Northrop Grumman COO Flach to retire, Warden named next COO »

Northrop Grumman…

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WBB

Westbury Bancorp

$20.05

-0.3508 (-1.72%)

17:00
09/26/17
09/26
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09/26/17
17:00
Hot Stocks
Breaking Hot Stocks news story on Westbury Bancorp  »

Westbury Bancorp trading…

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