HIG should never have pre-announced the Q4 earnings last month, and even worse they come out with numbers in the lower to mid range of what they pre-announced.
That pre-announcement killed any chance of the stock getting a pop, which is a complete lack of fiduciary responsibility, especially knowing that eventually they will need to dilute shareholder equity to pay back the tarp funds.
They should have SHUT UP! and come out with a report that massively surpassed analysts expectations!
Before they announced, the analysts were only expecting earnings of 65 cents.
Now the stock is down 6% from yesterday low closing price, and will certainly drop more now that all of the analysts are advising their clients to sell.
Screw them - I'm out for a loss and not coming back.
There's a lot better places to invest thats why!
I've made a lot over the last 8 months and will use it as a tax loss.
I agree the stock will go up if your time horizon is long, but i don't tie up capital that can be used better elsewhere.
Look at the chart. The "stag" has been stagnant since Nov. I really expected this quarter to be the catalyst that would move it upwards.
If the market returns to red tomorrow I believe this stock is going down quite a bit more.
Just mu opinion, but I don't plan on being a "stag" caught in the headlights.
My pocket may have got picked a bit, but at least i've hung onto My sense of humor!
best post i have seen.
they have showed the whole investment / analyst community:
they are not able to repay TARP.
their business structure is in question.
their earnings power the next year is at the low end of the lowest range.
and to top it off, the market is about to correct to s&p 1000.
bought at $22. should have sold at $28. sold at $22.20.
If you're a long term investor i'm sure the stock price will be higher in the future, since earnings per share should be at least $2.60 after the stock has been diluted to repay tarp, but it could drop another 10% or more from here if the market goes back to red for a few days in a row.
Lets face it. If the market wasn't so green today we would be down at least 10%.
If there's no tax implications for you i would set a stop or monitor it very closely.