I think NWLI is just getting pulled down by the poor market. Most insurance companies are posting good Q4's so I would expect the same here. I think we see $220 this year as things settle out.
Less than half of book value and leveraged at only 7:1. This is one of those "margin of safety" stocks that, unfortunately, can stay safely cheap almost indefinitely.
When you look at the 10 year valuations on this stockhttp://quicktake.morningstar.com/StockNet/Valuation10.aspx?Country=USA&Symbol=NWLI other than when the market is in a significant downturn (2002, 2008 - 2009), it generally trades at 0.7 - 0.9 times book.Even if we just get back to the 0.7 level, that is over $200 per share.