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Federated National Holding Company Message Board

  • scottr2958 scottr2958 Mar 14, 2013 1:51 PM Flag

    4th Q FY 2012 earnings and conference call

    Wow, what an incredible year for FNHC and an amazing CC held yesterday. # of policies, sales, earnings, all increasing by 15-25% year over year. Dividend now increased 50%. Looking forward, nothing but blue skies: new agents, new territories, new connection with Allstate, Florida property off its low point, with more sales, etc. This is easliy a $10 stock within a year, maybe a $15 in 2 years stock, with dividends sure to be increasing. Yes, there is the possibility of a bad hurrican season in late summer through the fall (the last 2-3 years have seen hardly any damage in Florida) but FNHC is fully covered with reinsurance for any big losses. On top of this, the CEO and president admitted in the CC that they have done zero promoting of their company with the stock analysts and reporters. All under the radar yet. Today, the price is up 7%, reaching a new 52-week high, and the volume will end up being 15 times normal volume. Just incredible. -Scott

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    • Actually I was too conservative in my memory about their 2012 results.
      Here are the actuals, from their report. This is no time to sell. Enjoy the steady ride up to $10-12. -Scott

      2012 full year highlights include:
      • Net income of $4.3 million compared with a loss of $0.4 million in 2011
      • Gross written premiums increased by $21.2 million, or 21.6%, compared with the same twelve months the prior year
      • Net premiums earned increased by $10.9 million, or 22.3%, compared with the same twelve months the prior year
      • Growth of unearned premiums at year-end by $11.1 million, or 23.1%, compared to December 31, 2011
      • Book value increased to $8.26 at December 31, 2012, compared with $7.32 at December 31, 2011, a 13% improvement
      • Homeowners' policy count grew from 43,793 at the start of 2012 to 61,102 at December 31, 2012, or a 40% increase
      • Continued improvement in underwriting results; loss ratio improved to 50.9% for the full year 2012, compared with 63.7% for the full year 2011

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