Closing price on the 2nd quarter release was 50.98 on 7/31/2013. After initial excitement/price movement up when the earnings came out (not sure why ... many news articles acted like there were great quarter over quarter or year over year numbers) the stock has settled in to a current price of 50.42, or roughly 1 % below the close on 7/31/2013. This means people are now digging in deeper to the companies 2nd quarter release, and realizing the company does have issues. It is interesting, I read through the conference call, and none of the questions was directed to Judy Griffin (Chief Investment Officer), So, even though the investment portfolios represent a significant factor in the companies success, no one was following up on this vulnerable portion of the business. Just be assured, the Investment Department is not producing awesome returns, only mediocre at best, and look for further decline in book value in the 3rd quarter.
As of 8/21/2013 morning, price is down to 48.68 as I write this. That is 4.5% lower than the market close on 7/31/2013. So, price of the stock is down 4.5% in about 3 weeks, after a supposedly good second quarter release (at least per Tom Wilson and the Investor Relations team). Sorry if you are one of the bagholders. I see this stock as remaining dead in the water for quite some time. There is little to drive it forward from here. Wilson will continue to attempt share buybacks to prop up the price, but he will not be doing the shareholders any real favors here.
Today - August 12, 2013 .... price is 50.28 as I write this. This is recently dead money. It will not move appreciably higher in the foreseeable future. Better prospects elsewhere. Sorry, I call this as I see it. If you bought recently, you were "ate to the party". Others might call you the bagholder.