Last $9.89 USD
Change Today -0.01 / -0.10%
Volume 19.5K
FRF On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 09/30/14 All times are local (Market data is delayed by at least 15 minutes).

fortegra financial corp (FRF) Snapshot

Open
$9.90
Previous Close
$9.90
Day High
$9.90
Day Low
$9.89
52 Week High
09/2/14 - $9.95
52 Week Low
04/17/14 - $6.46
Market Cap
198.4M
Average Volume 10 Days
38.7K
EPS TTM
$0.63
Shares Outstanding
20.1M
EX-Date
--
P/E TM
15.8x
Dividend
--
Dividend Yield
--
Current Stock Chart for FORTEGRA FINANCIAL CORP (FRF)

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fortegra financial corp (FRF) Details

Fortegra Financial Corporation, together with its subsidiaries, operates as an insurance services company in the United States. It offers products that protect lenders and their customers from death, disability, or other events that could impair their ability to repay a debt. The company offers credit insurance, debt protection, warranty and other service contracts, motor club solutions, and membership plans under the name of Life of the South, ProtectCELL, 4Warranty, Continental Car Club, United Motor Club, and Auto Knight Motor Club brands to consumer finance companies, regional banks, community banks, retailers, small loan companies, warranty administrators, automobile dealers, vacation ownership developers, credit unions, and independent wireless retailers. The company also offers warranty and other service contracts for mobile handsets, furniture, and appliances, as well as motor club solutions for consumers through its retail, auto, and financing clients. In addition, the company provides an assortment of administrative services tailored to insurance and other financial services companies through a virtual insurance company platform. Further, the company distributes credit insurance and payment protection services and products, as well as offers reinsurance services. Additionally, it provides a range of administrative services under the Consecta brand name to insurance and other financial services companies, including sales and marketing, electronic underwriting, premium billing and collections, policy administration, claims adjudication, and call center management services, as well as offers property/casualty insurance services. The company was formerly known as Life of the South Corporation and changed its name to Fortegra Financial Corporation in 2008. The company was incorporated in 1981 and is headquartered in Jacksonville, Florida.

477 Employees
Last Reported Date: 08/14/14
Founded in 1981

fortegra financial corp (FRF) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $780.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $406.3K
Executive Vice President and President of Mot...
Total Annual Compensation: $337.1K
Executive Vice President and President of Pay...
Total Annual Compensation: $307.1K
Compensation as of Fiscal Year 2013.

fortegra financial corp (FRF) Key Developments

Brower Piven Announces Class Action Lawsuit in Connection with the Sale of Fortegra Financial Corporation

Brower Piven announced that a class action lawsuit has been commenced in the Florida Circuit Court for Duval County on behalf of all common stockholders of Fortegra Financial Corporation. On August 12, 2014, Tiptree Financial Inc. and Fortegra jointly announced the signing of a merger agreement pursuant to which Tiptree will acquire Fortegra in an all cash transaction valued at approximately $218 million. Under the terms of the transaction, Fortegra shareholders are anticipated to receive $10.00 in cash for each share of Fortegra common stock they own. The claims asserted in the lawsuit concern whether the company's Board of Directors breached their fiduciary duties by failing to maximize shareholder value and/or protect the interests of Fortegra shareholders.

Levi & Korsinsky, LLP Notifies Investors of Fortegra Financial Corporation of Class Action Against Board of Directors in Connection with the Sale of the Company to Tiptree Financial Inc

Levi & Korsinsky notifies investors of Fortegra Financial Corporation of claims of breaches of fiduciary duty and other violations of state law in connection with the sale of the company to Tiptree Financial Inc. A complaint was filed in Florida state court. Under the terms of the transaction, Fortegra shareholders will receive $10.00 for each share of Fortegra common stock they own. The claims concern whether the Board of Fortegra breached their fiduciary duties to stockholders by failing to adequately shop the company before agreeing to enter into this transaction, and whether Tiptree is underpaying for Fortegra shares. Shareholders representing 62% of the company's outstanding stock have already agreed to tender their shares.

Fortegra Financial Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reiterates Earnings Guidance for the Second Half of 2014

Fortegra Financial Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenue of $88,524,000, income from continuing operations before income taxes was $5,596,000, net income attributable to the company was $3,276,000 or $0.17 per basic share and $0.16 per diluted share against total revenue of $84,947,000, income from continuing operations before income taxes was $5,013,000, net income attributable to the company was $4,442,000 or $0.23 per basic share and $0.22 per diluted share a year ago. EBITDA from continuing operations was $9,077,000 compared to $8,463,000 a year ago. Adjusted EBITDA from continuing operations was $9,386,000 compared to $8,767,000 a year ago. Net income from continuing operations was $3,276,000 or $0.17 per basic share and $0.16 per diluted share against net income from continuing operations was $3,235,000 or $0.17 per basic share and $0.16 per diluted share a year ago. On Non-GAAP basis, net income from continuing operations was $3,483,000 or $0.18 per basic share and $0.17 per diluted share against net income from continuing operations was $3,452,000 or $0.18 per basic share and $0.17 per diluted share a year ago. For the six months, the company reported total revenue of $179,052,000, income from continuing operations before income taxes was $11,337,000, net income attributable to the company was $6,935,000 or $0.31 per basic share and $0.30 per diluted share against total revenue of $165,111,000, income from continuing operations before income taxes was $7,544,000, net income attributable to the company was $6,935,000 or $0.36 per basic share and $0.34 per diluted share a year ago. EBITDA from continuing operations was $18,304,000 compared to $20,230,000 a year ago. Adjusted EBITDA from continuing operations was $14,492,000 compared to $16,340,000 a year ago. Net income from continuing operations was $6,174,000 or $0.31 per basic share and $0.30 per diluted share against net income from continuing operations was $4,466,000 or $0.23 per basic share and $0.22 per diluted share a year ago. On Non-GAAP basis, net income from continuing operations was $7,437,000 or $0.38 per basic share and $0.36 per diluted share against net income from continuing operations was $5,713,000 or $0.29 per basic share and $0.28 per diluted share a year ago. Based on the company's performance for the first half of 2014, management's operating assumptions for the remainder of the year and other factors, the company is reiterating its 2014 guidance of net revenue growth of 7% to 9% and Adjusted EBITDA margin of 32% to 34%.

 

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Industry Analysis

FRF

Industry Average

Valuation FRF Industry Range
Price/Earnings 16.8x
Price/Sales 0.5x
Price/Book 1.2x
Price/Cash Flow 6.1x
TEV/Sales 0.4x
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