RICHARD A FRUEH, AND DONALD J Gunn JR. BOTH previous employers according to crd's where Soveriegn Equity Management and Chatfield and Dean.
Pre-paid legal buy reports both had 24 to 26 dollar price targets
Mere coincidence that Soveriegn mob Boiler Room had a price target of 24 to 26 dollars in 12 months the same as GunnAllen??
FROM BUSINESSWEEK MOB ON WALLSTREET STORY:
Listed in no official records is another address for Phil Abramo--one that is far more apropos for a man who is a hidden power in the brokerage industry. Until a couple of months ago, sources say, Abramo maintained an office on the 14th floor of 90 Broad St. in lower Manhattan, directly adjoining the New York office of Sovereign Equity Management. A door linked the two offices, and it was always open. ''I knew him as a stock promoter who always had stock deals. We hired brokers who were friends of his,'' says one Sovereign employee who requested anonymity. Sovereign CEO Glen T. Vittor denies that Abramo had any role in the firm.
"we hired brokers who were friends of his" LOL
Florida Profit
GUNN ALLEN HOLDINGS, INC.
PRINCIPAL ADDRESS
1715 N WESTSHORE BLVD
SUITE 775
TAMPA FL 33607
MAILING ADDRESS
1715 N WESTSHORE BLVD
SUITE 775
TAMPA FL 33607
Document Number
P97000016953 FEI Number
593427440 Date Filed
02/19/1997
State
FL Status
ACTIVE Effective Date
NONE
Last Event
AMENDMENT Event Date Filed
03/26/2003 Event Effective Date
NONE
Registered Agent
Name & Address
GUNN, DONALD J JR
1715 N WESTSHORE BLVD
SUITE 775
TAMPA FL 33607
Name Changed: 01/29/1998
Address Changed: 01/29/1998
Officer/Director Detail
Name & Address Title
FRUEH, RICHARD A
1715 N WESTSHORE BLVD SUITE 775
TAMPA FL 33607 D
GUNN, DONALD J JR.
1715 N WESTSHORE BLVD SUITE 775
TAMPA FL 33607 D
SAVAGE, ROBERT K
35 AEGEAN AVE
TAMPA FL 33606 D
Annual Reports
Report Year Filed Date Intangible Tax
2000 09/13/2000
2001 04/13/2001
2002 01/28/2002 N
View Events
View Name History
Document Images
Listed below are the images available for this filing.
03/26/2003 -- Amendment
02/21/2003 -- Amendment
06/04/2002 -- Amendment
05/14/2002 -- Merger
05/13/2002 -- Amendment
01/28/2002 -- ANNUAL REPORT
04/13/2001 -- ANN REP/UNIFORM BUS REP
09/13/2000 -- ANN REP/UNIFORM BUS REP
04/09/1999 -- ANNUAL REPORT
01/29/1998 -- ANNUAL REPORT
===========================
Mere coincidence that both had a price target of 24 to 26 dollars in 12 months?
================================================
TAMPA, Fla., March 19 /PRNewswire/ -- The following was issued today by GunnAllen Financial: GunnAllen Financial is initiating coverage of Pre-Paid Legal Services Inc ($16.50) with a Strong Buy rating. PPD recently reported record earnings and revenues for the year-end 1996. Revenues for 1996 were $59.9M vs. $37.1M in 1995, up 61% while 1996 earnings surged to 56c per share compared to 34c per share in 1995, up 65% fully diluted. The production of new memberships rose 77% for 1996 and new sales associates rose 38%. The company currently has $18M in cash with
no debt and generated almost $1M in positive cash flow in Q4 1996 alone. We are continuing to see margin improvements resulting from economies of scale and an increase in the average yearly contract premiums from $165/year in 1993, to $216/year in 1996. PPD's cash resources should allow them to continue to meet demand of their growth. Much like HMOs were in the past, legal maintenance organizations or LMOs, seem to be the wave of the future. We expect revenue and earnings growth of 40% for 1997, raising earnings estimates to 80c per share from 56c in 1996. Because of the strong growth ahead, we feel the stock is a great buy here and especially on any pullbacks. Considering the estimated 40% growth rate, we feel the company can maintain a P/E ratio of 30+ which would give the stock a 12-month target of $24.00-$26.00.
===========================
Sovereign Equity raises Pre-Paid Legal Services to STRONG BUY from BUY
BOCA RATON, Fla., Jan. 31 /PRNewswire/ -- The following was released by
Sovereign Equity Management: Sovereign Equity Management Corporation is raising our rating on Pre-paid
Legal Services (AMEX: PDD)(16.50) to Strong Buy from BUY due to the
tremendous growth and demand for pre-paid legal insurance. Pre-Paid Legal Services (PPD) recently reported record earnings and revenues
for the year-end 1996. Revenues for 1996 were $59.9M vs. $37.1M in 1995 (up
61%), while 1996 earnings surged to 56c per share compared to 34c per share
in 1995 (up 65% fully diluted). The production of new memberships rose 77%
for 1996 and new sales associates rose 38%. PPD enters their 25th year, they continue to benefit from our ever
increasing litigious society. Most Americans can not afford legal help, and
this is causing a change in the delivery of legal services. According to the
Maryland Bar Journal, recent studies have shown that the average
middle-income household in Maryland faces 1 legal problem per year. Out of
these households, 72% do not contact an attorney when they have a legal
problem. Pre-Paid Legal's insurance plan would allow many of these families
to afford the legal help they need and deserve. PPD is currently the only
pre-paid legal services company in the nation with a large marketing force.
The market potential is estimated at $15 to $25 billion. The company launched their new fast start training program for 1997 that
should have a favorable impact on recruiting and membership sales. Several
large corporations such as Hardees Restaurants are offering Pre-Paid Legal's
insurance plan as a part of their employee benefits program. Sales by group
certified associates currently account for roughly 50% of sales and are
expected to grow to 60% of sales by year-end 1997. The company currently has $17M in cash with no debt and generated almost $1M
in positive cash flow in Q4 1996 alone. We are continuing to see margin
improvements resulting from economies of scale and an increase in the
average yearly contract premiums from $165 per year in 1993, to $216 per
year in 1996. Clearly PPD has enough resources to continue to meet demand of
this fantastic growth. Much like HMOs, legal maintenance organizations or
LMOs, seem to be the wave of the future. If you do not have pre-paid legal
insurance now, it's probably only a matter of time before you will. How can
America argue with having an attorney on call for less than your cable TV
bill? We expect revenue and earnings' growth of 40% for 1997, raising earnings per
share to 80c from 56c in 1996. Because of the strong growth ahead, we feel
the stock is a great buy here and especially on any pullbacks. Considering
the estimated 40% growth rate, we feel the company can maintain a P/E ratio
of 3O+ which would give the stock a l2-month target of $24.00 - $26.00. This report is for information purposes only, and under no circumstances is
it a solicitation, or an offer to buy or sell any security. The information
contained herein has been obtained from sources believed by us to be
reliable, but we do not guarantee that it is accurate or complete. Sovereign
Equity Management Corp. may or may not maintain a position or make a market
in the securities listed herein, its employees and/or its officers and
directors, may from time to time have a long or short position in the
securities mentioned herein and may sell or buy such securities or related
options. Sovereign Equity Management Corporation is a full service broker/dealer
serving retail and institutional clients with offices in Boca Raton, New
York, and Tampa. /CONTACT: S. Matthew Totty, Chief Equity Analyst, Sovereign Equity
Management Corporation, 813-282-0808/ 10:27 EST
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