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Atlantic American Corporation (AAME)

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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3.9000-0.2200 (-5.34%)
At close: 4:00PM EDT
3.8000 -0.10 (-2.56%)
After hours: 04:46PM EDT
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Commodity Channel Index

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Previous Close4.1200
Open4.0900
Bid3.9000 x 2200
Ask3.9100 x 900
Day's Range3.9000 - 4.0915
52 Week Range1.6900 - 15.9700
Volume28,849
Avg. Volume137,087
Market Cap79.622M
Beta (5Y Monthly)0.24
PE Ratio (TTM)4.29
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.02 (0.49%)
Ex-Dividend DateApr 12, 2021
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Atlantic American Corporation Reports First Quarter Results for 2021
    GlobeNewswire

    Atlantic American Corporation Reports First Quarter Results for 2021

    ATLANTA, May 11, 2021 (GLOBE NEWSWIRE) -- Atlantic American Corporation (Nasdaq- AAME) today reported net loss of $0.4 million, or $0.03 per common share, in the first quarter of 2021 compared to net loss of $8.1 million, or $0.40 per common share, in the first quarter of 2020. The decrease in net loss was primarily the result of unrealized gains on equity securities of $0.7 million in the current quarter as compared to unrealized losses on equity securities of $8.5 million in the prior year quarter. Although price levels have generally recovered, the Company’s investment portfolio was significantly impacted during the first quarter of 2020 by material declines in capital markets as a result of the COVID-19 pandemic. Premium revenue for the three month period ended March 31, 2021 increased $0.5 million, or 1.2%, to $46.1 million from $45.6 million in the three month period ended March 31, 2020. The increase in premium revenue was primarily attributable to an increase in the automobile physical damage and automobile liability lines of business in the property and casualty operations. Operating loss (as defined below) decreased $0.6 million to $1.4 million in the three month period ended March 31, 2021 compared to $2.0 million in the three month period ended March 31, 2020. The decrease in operating loss was primarily due to favorable loss experience in the Company’s life and health operations, resulting from improved rate adequacy coupled with a decrease in the number of incurred claims within the Medicare supplement line of business. Commenting on the results, Hilton H. Howell, Jr., Chairman, President and Chief Executive Officer, stated, “As the disruption caused by the COVID-19 pandemic begins to fade, the dedication and focus of our employees has not wavered. Operating results for the quarter improved over prior year along with moderate growth in our premium revenue. We are also excited to announce that our voluntary employee benefits division, BankersWorksite has rebranded and will now operate under the trade name of Atlantic American Employee Benefits. Additionally, we are extremely proud to report AM Best recently announced they have affirmed the credit ratings of Atlantic American Corporation and its subsidiaries.” Atlantic American Corporation is an insurance holding company involved through its subsidiary companies in specialty markets of the life, health, and property and casualty insurance industries. Its principal insurance subsidiaries are American Southern Insurance Company, American Safety Insurance Company, Bankers Fidelity Life Insurance Company and Bankers Fidelity Assurance Company. Note regarding non-GAAP financial measure: Atlantic American Corporation presents its consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP). However, from time to time, the Company may present, in its public statements, press releases and filings with the Securities and Exchange Commission, non-GAAP financial measures such as operating income (loss). Management believes operating income (loss) is a useful metric for investors, potential investors, securities analysts and others because it isolates the “core” operating results of the Company before considering certain items that are either beyond the control of management (such as income tax expense, which is subject to timing, regulatory and rate changes depending on the timing of the associated revenues and expenses) or are not expected to regularly impact the Company’s operating results (such as any realized and unrealized investment gains (losses), which are not a part of the Company’s primary operations and are, to a limited extent, subject to discretion in terms of timing of realization). The financial data attached includes a reconciliation of operating income (loss) to net income (loss), the most comparable GAAP financial measure. The Company’s definition of operating income (loss) may differ from similarly titled financial measures used by others. This non-GAAP financial measure should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP. Note regarding Private Securities Litigation Reform Act: Except for historical information contained herein, this press release contains forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward-looking statements due to a number of factors and risks detailed from time to time in statements and reports that Atlantic American Corporation files with the Securities and Exchange Commission. For further information contact: J. Ross Franklin Hilton H. Howell, Jr.Chief Financial Officer Chairman, President & CEOAtlantic American Corporation Atlantic American Corporation404-266-5580 404-266-5505 Atlantic American CorporationFinancial Data Three Months Ended March 31,(Unaudited; In thousands, except per share data)2021 2020Insurance premiums Life and health$29,475 $30,628 Property and casualty 16,615 14,922 Insurance premiums, net 46,090 45,550 Net investment income 2,113 2,039 Realized investment gains, net 121 249 Unrealized gains (losses) on equity securities, net 744 (8,455)Other income 7 27 Total revenue 49,075 39,410 Insurance benefits and losses incurred Life and health 21,523 24,049 Property and casualty 11,749 9,534 Commissions and underwriting expenses 12,564 12,626 Interest expense 346 476 Other expense 3,440 2,952 Total benefits and expenses 49,622 49,637 Loss before income taxes (547) (10,227)Income tax benefit (116) (2,140) Net loss$ (431) $ (8,087) Loss per common share (basic & diluted)$ (0.03) $ (0.40) Reconciliation of Non-GAAP Financial Measure Net loss$(431) $(8,087)Income tax benefit (116) (2,140)Realized investment gains, net (121) (249)Unrealized (gains) losses on equity securities, net (744) 8,455 Non-GAAP Operating loss$ (1,412) $ (2,021) March 31, December 31,Selected Balance Sheet Data2021 2020 Total cash and investments$291,569 $298,630 Insurance subsidiaries 286,268 292,478 Parent and other 5,301 6,152 Total assets 383,127 405,187 Insurance reserves and policyholder funds 191,983 198,676 Debt 33,738 33,738 Total shareholders' equity 133,235 145,060 Book value per common share 6.26 6.84 Statutory capital and surplus Life and health 42,119 42,326 Property and casualty 49,347 50,194

  • AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries
    Business Wire

    AM Best Affirms Credit Ratings of Atlantic American Corporation and Its Subsidiaries

    AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a" of American Southern Insurance Company (Topeka, KS) and its wholly owned and 100% reinsured subsidiary, American Safety Insurance Company (collectively referred to as American Southern Group). Additionally, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICRs of "a-" of Bankers Fidelity Life Insurance Company and its wholly owned and 100% reinsured subsidiary, Bankers Fidelity Assurance Company (collectively referred to as Bankers Fidelity Life Insurance Group [BFLIG]). Concurrently, AM Best has affirmed the Long-Term ICR of "bbb-" of the parent company, Atlantic American Corporation (Atlantic American) [NASDAQ: AAME]. The outlook of these Credit Ratings (ratings) is stable. All companies are domiciled Atlanta, GA, unless otherwise specified.

  • Atlantic American Corporation Reports Fourth Quarter and Year End Results for 2020; Declares Annual Dividend
    GlobeNewswire

    Atlantic American Corporation Reports Fourth Quarter and Year End Results for 2020; Declares Annual Dividend

    ATLANTA, March 23, 2021 (GLOBE NEWSWIRE) -- Atlantic American Corporation (Nasdaq- AAME) today reported net income for the three month period ended December 31, 2020 of $11.8 million, or $0.54 per diluted share, as compared to net income of $1.3 million, or $0.06 per diluted share, for the comparable period in 2019. For the year ended December 31, 2020, the Company reported net income of $12.2 million, or $0.56 per diluted share, as compared to net loss of $0.4 million, or $0.04 per diluted share, for the comparable period in 2019. The increase in net income during the fourth quarter of 2020 was primarily due to a $7.0 million increase in realized gains coupled with a $5.1 million decrease in insurance benefits and losses incurred for the fourth quarter of 2020 as compared to the comparable quarter of 2019. The increase in net income for the year ended December 31, 2020 was primarily due to a $19.3 million decrease in insurance benefits and losses incurred and a $5.8 million increase in realized gains, somewhat offset by a decrease of $8.9 million of net unrealized gains and losses on equity securities during the year ended December 31, 2020 as compared to the comparable period in 2019. Changes in unrealized gains and losses on equity securities for the applicable periods are primarily the result of fluctuations in the market values of the Company’s equity investments. Operating income (as defined below) increased to $3.6 million in the three month period ended December 31, 2020 as compared to a $1.8 million operating loss for the three month period ended December 31, 2019. For the year ended December 31, 2020, operating income increased to $11.5 million over an operating loss of $7.5 million for the comparable period in 2019. The increase in operating income for the three and twelve month periods was primarily due to improved loss experience in the Company’s life and health operations, resulting from a significant decrease in the number of incurred claims and improved rate adequacy within the Medicare supplement line of business. The decrease in the number of incurred claims was primarily attributable to lower utilization of medical services by our policyholders as a result of the COVID-19 pandemic. Commenting on the results, Hilton H. Howell, Jr., Chairman, President and Chief Executive Officer, stated, “We are exceptionally encouraged by the strong operating results reported by our family of insurance companies. Despite the many uncertainties we were faced with in 2020 due to the COVID-19 pandemic and many of our employees shifting to a work-from-home environment, we overcame the challenges and have recently resumed in-person operations for the majority of our staff. Our insurance subsidiaries reported record financial results and we are excited about the prospects for this upcoming year. In recognition of an outstanding earnings report and our commitment to delivering value to our shareholders, we are pleased to announce our Board’s decision to reinstate the Company’s annual dividend in the amount of $0.02 per share, which is payable on April 27, 2021 to shareholders of record on April 13, 2021.” Atlantic American Corporation is an insurance holding company involved through its subsidiary companies in specialty markets of the life, health, and property and casualty insurance industries. Its principal insurance subsidiaries are American Southern Insurance Company, American Safety Insurance Company, Bankers Fidelity Life Insurance Company and Bankers Fidelity Assurance Company. Note regarding non-GAAP financial measure: Atlantic American Corporation presents its consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP). However, from time to time, the Company may present, in its public statements, press releases and filings with the Securities and Exchange Commission, non-GAAP financial measures such as operating income (loss). Management believes operating income (loss) is a useful metric for investors, potential investors, securities analysts and others because it isolates the “core” operating results of the Company before considering certain items that are either beyond the control of management (such as income tax expense, which is subject to timing, regulatory and rate changes depending on the timing of the associated revenues and expenses) or are not expected to regularly impact the Company’s operating results (such as any realized and unrealized investment gains (losses), which are not a part of the Company’s primary operations and are, to a limited extent, subject to discretion in terms of timing of realization). The financial data attached includes a reconciliation of operating income (loss) to net income (loss), the most comparable GAAP financial measure. The Company’s definition of operating income (loss) may differ from similarly titled financial measures used by others. This non-GAAP financial measure should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP. Note regarding Private Securities Litigation Reform Act: Except for historical information contained herein, this press release contains forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward-looking statements due to a number of factors and risks detailed from time to time in statements and reports that Atlantic American Corporation files with the Securities and Exchange Commission. For further information contact: J. Ross Franklin Hilton H. Howell, Jr.Chief Financial Officer Chairman, President & CEOAtlantic American Corporation Atlantic American Corporation404-266-5580 404-266-5505 Atlantic American CorporationFinancial Data Three Months Ended Twelve Months Ended December 31, December 31,(Unaudited; In thousands, except per share data) 2020 2019 2020 2019 Insurance premiums Life and health$29,656 $31,024 $121,167 $123,245 Property and casualty 16,856 15,645 62,372 58,680 Insurance premiums, net 46,512 46,669 183,539 181,925 Net investment income 2,027 2,145 7,744 8,979 Realized investment gains, net 6,988 9 7,420 1,574 Unrealized gains (losses) on equity securities, net 4,400 3,415 (3,431) 5,511 Other income 5 51 76 190 Total revenue 59,932 52,289 195,348 198,179 Insurance benefits and losses incurred Life and health 19,345 23,853 80,537 99,684 Property and casualty 10,653 11,195 39,339 39,541 Commissions and underwriting expenses 12,129 11,482 46,811 45,477 Interest expense 357 506 1,610 2,130 Other expense 2,432 3,612 11,548 11,754 Total benefits and expenses 44,916 50,648 179,845 198,586 Income (loss) before income taxes 15,016 1,641 15,503 (407)Income tax expense (benefit) 3,168 371 3,334 (21) Net income (loss)$ 11,848 $ 1,270 $ 12,169 $ (386) Earnings (loss) per common share (basic)$ 0.58 $ 0.06 $ 0.58 $ (0.04)Earnings (loss) per common share (diluted)$ 0.54 $ 0.06 $ 0.56 $ (0.04) Reconciliation of Non-GAAP Financial Measure Net income (loss)$11,848 $1,270 $12,169 $(386)Income tax expense (benefit) 3,168 371 3,334 (21)Realized investment gains, net (6,988) (9) (7,420) (1,574)Unrealized (gains) losses on equity securities, net (4,400) (3,415) 3,431 (5,511) Non-GAAP Operating income (loss)$ 3,628 $ (1,783) $ 11,514 $ (7,492) December 31, December 31, Selected Balance Sheet Data 2020 2019 Total cash and investments$298,630 $281,530 Insurance subsidiaries 292,478 274,730 Parent and other 6,152 6,800 Total assets 405,187 377,626 Insurance reserves and policyholder funds 198,676 201,906 Debt 33,738 33,738 Total shareholders' equity 145,060 118,394 Book value per common share 6.84 5.51 Statutory capital and surplus Life and health 42,326 35,546 Property and casualty 50,194 45,827