PTVCA Protective Insurance Corp.
Protective Insurance Corp. provides underwriting property and casualty insurance services. It engages in marketing and underwriting property, liability and workers' compensation coverage for trucking and public transportation fleets, as well as coverage for trucking industry independent contractors. The company was founded by Harry Baldwin and Voris Lyons in 1930 and is headquartered in Carmel, IN.
Company profile
Ticker
PTVCA
Exchange
Website
CEO
Jeremy D. Edgecliffe-Johnson
Employees
Incorporated in
Location
Fiscal year end
Sector
Industry (SEC)
Former names
Baldwin & Lyons Inc
SEC CIK
Corporate docs
IRS number
350160330
Calendar
6 Mar 20
4 Apr 20
31 Dec 20
News
Company financial data Financial data
| Quarter (USD) | Dec 19 | Sep 19 | Jun 19 | Mar 19 | |
|---|---|---|---|---|---|
| Revenue | 124.43M | 119.83M | 127M | 124.34M | |
| Net income | 3.77M | -707K | 1.54M | 2.75M | |
| Diluted EPS | 0.26 | -0.05 | 0.11 | 0.18 | |
| Net profit margin | 3.03% | -0.59% | 1.21% | 2.21% | |
| Net change in cash | -17.93M | 5.01M | -36.65M | -46.58M | |
| Cash on hand | 67.85M | 85.78M | 80.77M | 117.42M |
| Annual (USD) | Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
|---|---|---|---|---|---|
| Revenue | 495.6M | 439.17M | 371.23M | 319M | |
| Net income | 7.35M | -34.08M | 18.32M | 28.95M | |
| Diluted EPS | 0.5 | -2.28 | 1.21 | 1.92 | |
| Net profit margin | 1.48% | -7.76% | 4.94% | 9.07% | |
| Net change in cash | -96.15M | 99.32M | 1.7M | -10.56M | |
| Cash on hand | 67.85M | 164M | 64.68M | 62.98M |
Financial data from company earnings reports
Recent insider trades
| Date | Owner | Security | Transaction | Code | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|
| 20 Mar 20 | Jeremy David Edgecliffe-Johnson | Class B Common Stock | Buy | Aquire P | 12.23 | 1,875 | 22.93K | 123,842 |
| 19 Mar 20 | Jeremy David Edgecliffe-Johnson | Class B Common Stock | Buy | Aquire P | 11.56 | 2,225 | 25.72K | 121,967 |
| 18 Mar 20 | Barnett John R | Class B Common Stock | Buy | Aquire P | 11.88 | 1,000 | 11.88K | 13,480 |
| 12 Mar 20 | Schmiedt Patrick | Class B Common Stock | Buy | Aquire P | 12.95 | 400 | 5.18K | 13,059 |
| 6 Mar 20 | Bahram D. Omidfar | Class B Common Stock | Grant | Aquire A | 14.23 | 333 | 4.74K | 18,637 |
| 6 Mar 20 | Jeremy David Edgecliffe-Johnson | Class B Common Stock | Grant | Aquire A | 14.23 | 7,382 | 105.05K | 119,742 |
| 6 Mar 20 | Jeremy David Edgecliffe-Johnson | Class B Common Stock | Grant | Aquire A | 14.23 | 20,729 | 294.97K | 112,360 |
Institutional ownership Q4 2019
13F holders |
Current |
|---|---|
| Total holders | 71 |
| Opened positions | 5 |
| Closed positions | 10 |
| Increased positions | 27 |
| Reduced positions | 23 |
13F shares |
Current |
|---|---|
| Total value | 147.67M |
| Total shares | 6.94M |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
Largest owners |
Shares | Value |
|---|---|---|
| BLK BlackRock | 977.94K | $15.74M |
| Dimensional Fund Advisors | 975.91K | $15.7M |
| Renaissance Technologies | 669.98K | $10.78M |
| Vanguard | 577.25K | $9.29M |
| First Manhattan | 408.25K | $6.57M |
| AMP Ameriprise Financial | 365.86K | $5.89M |
| RY Royal Bank of Canada | 363.05K | $5.84M |
| Intrepid Capital Management | 311.01K | $5M |
| Deprince Race & Zollo | 246.59K | $3.97M |
| STT State Street | 215.27K | $3.46M |
Financial report summary
?Risks
- We compete with a large number of companies in the insurance industry for underwriting revenues.
- Changes in laws and regulations governing the insurance industry could have a negative impact on our ability to generate income from our insurance operations.
- A material decline in our financial strength rating could adversely affect our position in the insurance market and cause a significant reduction in our premiums and earnings.
- We have two classes of common stock with unequal voting rights that are effectively controlled by our principal shareholders and management, which limits other shareholders’ ability to influence our operations.
- We are subject to credit risk relating to our ability to recover amounts due from reinsurers.
- We may incur additional losses if our loss reserves are inadequate.
- The loss of our major customer could severely impact our revenue and earnings potential and A.M. Best rating.
- Our collateral held may prove to be insufficient.
- A material drop in interest rates, or disruption in the fixed income markets, could have an adverse impact on our earnings and, potentially, our financial position.
- Our investment portfolio is subject to market and credit risks, which could affect our financial results and ability to conduct business.
- Technological advances, including those specific to the transportation industry, could present us with added competitive risks.
- The failure of our information technology systems and other operational systems to operate properly or disruptions or breaches of our information systems could adversely affect our business, results of operations and financial condition.
- Legal and regulatory proceedings are unpredictable and could produce one or more unexpected verdicts against us that could materially and adversely affect our financial results for any given period.
- Changes in current accounting practices and future pronouncements may materially impact our reported financial results.
- We may be unable to attract and retain qualified employees.
Content analysis
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H.S. sophomore Bad
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New words:
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Removed:
admitted, amendment, area, baldwin, Birchfield, chapter, check, clarify, climate, Deferral, earning, emerging, Employer, entitled, fee, file, filing, fluctuated, global, HighWave, Indian, Interactive, mail, managed, managing, mark, netted, Opportunity, par, promised, Randall, receive, reducing, shell, show, submit, telephone, tested, Washington, wholesale, William, workforce
Financial reports
10-K
2019 FY
Annual report
6 Mar 20
10-Q
2019 Q3
Quarterly report
6 Nov 19
10-Q
2019 Q2
Quarterly report
7 Aug 19
10-Q
2019 Q1
Quarterly report
8 May 19
10-K
2018 FY
Annual report
7 Mar 19
10-Q
2018 Q3
Quarterly report
7 Nov 18
10-Q
2018 Q2
Quarterly report
8 Aug 18
10-Q
2018 Q1
Quarterly report
9 May 18
10-K
2017 FY
Annual report
13 Mar 18
10-Q
2017 Q3
Quarterly report
8 Nov 17
Current reports
8-K
Departure of Directors or Certain Officers
12 Mar 20
8-K
Protective Insurance Corporation Announces Fourth Quarter and Full Year Results
25 Feb 20
8-K
Departure of Directors or Certain Officers
12 Nov 19
8-K
Protective Insurance Corporation Announces Results for the Quarter and Nine Months
6 Nov 19
8-K
Protective Insurance Corporation Announces John Barnett as new Chief Financial Officer and Bahr Omidfar as new Chief Information Officer
16 Sep 19
8-K
Protective Insurance Corporation Announces Results for the Quarter and Six Months
7 Aug 19
8-K
Departure of Directors or Certain Officers
6 Jun 19
8-K
Departure of Directors or Certain Officers
22 May 19
8-K
Submission of Matters to a Vote of Security Holders
13 May 19
8-K
Protective Insurance Corporation Announces First Quarter 2019 Results
8 May 19
Registration and prospectus
Proxies
DEF 14A
Definitive proxy
5 Apr 19
DEF 14A
Definitive proxy
6 Apr 18
PRE 14A
Preliminary proxy
23 Mar 18
DEF 14A
Definitive proxy
7 Apr 17
DEF 14A
Definitive proxy
4 Apr 16
PRE 14A
Preliminary proxy
16 Mar 16
DEF 14A
Definitive proxy
6 Apr 15
DEF 14A
Definitive proxy
3 Apr 14
DEF 14A
Definitive proxy
2 Apr 13
DEF 14A
Definitive proxy
2 Apr 12
Other
UPLOAD
Letter from SEC
9 Aug 13
CORRESP
Correspondence with SEC
12 Jul 13
CORRESP
Correspondence with SEC
28 Jun 13
UPLOAD
Letter from SEC
24 Jun 13
UPLOAD
Letter from SEC
24 May 10
CORRESP
Correspondence with SEC
23 Apr 10
UPLOAD
Letter from SEC
12 Apr 10
CORRESP
Correspondence with SEC
4 Mar 10
UPLOAD
Letter from SEC
26 Feb 10
CORRESP
Correspondence with SEC
18 Dec 09
Ownership
SC 13D/A
Protective Insurance / Dowling Vincent J. Jr ownership change
1 Apr 20
4
Protective Insurance / Jeremy David Edgecliffe-Johnson ownership change
23 Mar 20
SC 13D
Protective Insurance / Dowling Vincent J. Jr ownership change
23 Mar 20
4
Protective Insurance / John R Barnett ownership change
20 Mar 20
4
Protective Insurance / Patrick Schmiedt ownership change
13 Mar 20
4
Protective Insurance / John R Barnett ownership change
13 Mar 20
4
Protective Insurance / Jeremy David Edgecliffe-Johnson ownership change
13 Mar 20
4
Protective Insurance / Bahram D. Omidfar ownership change
13 Mar 20
3
Protective Insurance / Bahram D. Omidfar ownership change
13 Mar 20
4
Protective Insurance / Jeremy David Edgecliffe-Johnson ownership change
5 Mar 20