GUNNALLEN HAS THE SAME PHONE NUMBER AS SOVERIEGN OR ARE THEY ONE IN THE SAME? LOL
just do a google search on soveriegn's phone number google.com
SOURCE Sovereign Equity Management Corporation
-0- 1/31/97
/CONTACT: S. Matthew Totty, Chief Equity Analyst, Sovereign Equity
Management Corporation, 813-282-0808/
(PPD)
==================================================
/CONTACT: S. Matthew Totty, Chief Equity Analyst, Sovereign Equity
Management Corporation, 813-282-0808/
(PPD)
SOVEREIGN EQUITY RAISES PRE-PAID LEGAL SERVICES TO STRONG BUY
1997-01-31 10:42 (New York)
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.
SOURCE Sovereign Equity Management Corporation
-0- 1/31/97
/CONTACT: S. Matthew Totty, Chief Equity Analyst, Sovereign Equity
Management Corporation, 813-282-0808/
(PPD)
CO: Sovereign Equity Management Corporation; Pre-Paid Legal Services
ST: Florida
IN: FIN
SU:
-0- (PRN) Jan/31/97 10:27
EOS (PRN) Jan/31/97 10:27 86
-0- (PRN) Jan/31/97 10:42
SOVEREIGN EQUITY MANAGEMENT CORPORATION UPGRADES
1995-12-26 15:20 (New York)
PRE-PAID LEGAL SERVICES TO STRONG BUY FROM BUY
BOCA RATON, Fla., Dec. 26 /PRNewswire/ -- Sovereign Equity
Management Corporation today issued the following statement:
We are upgrading our Pre-Paid Legal Services (AMEX: PPD) (9.68) BUY
recommendation to STRONG BUY due to increased contract sales, strong
projected earnings per share and favorable technical indicators.
For the cumulative 11 months, production of new memberships rose
199% to 99,406 from 41,599. PPD continues to increase contracts by
expanding into new states. PPD is a pioneer in an emerging growth
industry. Their industry today is in a position similar to that of
prepaid medical care approximately 30 years ago. It is PPD's
expectation that the prepaid legal services industry will develop over
the next few years much to the same degree as prepaid medical plans
have. As a pioneer and leader in the field, PPD is positioned to take
advantage of this emerging growth industry. Experts believe the market
for prepaid legal plans is between 100 to 140 million Americans. This
places the dollar size of the market somewhere between 15 and 25 billion
dollars. According to an American Bar Association survey of middle-
income households, it was found that at the time they were interviewed
52% of the households had at least one new or ongoing legal problem.
PPD is expected to grow earnings per share at 50% per year for the
next five years according to First Call. PPD's 1995 earnings rose from
$2.5 million to $5 million on 43% higher revenues with 64% more shares.
This is due primarily to increased contract sales and the elimination of
debt. Sales for the third quarter ending September, 1995 were a record
$9.8 million, that is a 53% increase over third quarter last year. With
lower interest expense and higher contract sales, earnings estimates for
1996 are $0.55, that's an estimated 57% over 1995 earnings of $0.35.
The new contract numbers for December are due out in the first week in
January which should confirm our expectation of growth. We expect Q495
earnings per share $0.10 versus $0.06 for Q494, a 67% increase. The
earnings are expected to be released on Jan. 29, 1996.
PPD has just broken out of a strong 3-month base into new ground
above $8.87, as the technical indicators were suggesting in my November
report. This confirms our belief that PPD is undervalued and under-
followed. The breakout volume was 293,300 which suggests strong
interest and confirms the advancement. PPD has good support around
$7.50, and should be accumulated under $10.00 as long as the stock does
not breakdown below $7.50 on heavy volume. We rate PPD a strong buy
with a 6-12 month target of $12-$13.
-0- 12/26/95
/CONTACT: S. Matthew Totty, Chief Equity Analyst, Sovereign Equity
Management Corporation, 813-282-0808/
(PPD)
CO: Pre-Paid Legal Services; Sovereign Equity Management Corporation
ST: Florida
IN: FIN
SU: RTG
-0- (PRN) Dec/26/95 15:05
EOS (PRN) Dec/26/95 15:05 86
-0- (PRN) Dec/26/95 15:20
Searched the web for 813-282-0808. Results 1 - 7 of about 13. Search took 0.08 seconds.
Gunnallen Financial Inc, (813) 282-0808, 1715 N West Shore Blvd, Tampa, FL 33607 Yahoo! Maps MapQuest
GunnAllen Financial, Inc. - Careers
... 842-1697 732-291-2613 Local 732-233-3543 Fax vameno@gunnallen.com, All Other Areas
Bradley A. Fay, Executive Vice President 800-713-4046 813-282-0808 Local 813 ...
www.gunnallen.com/careers.asp - 12k - Cached - Similar pages
GunnAllen Financial, Inc. - Current Openings
... you feel you could be an asset to GunnAllen Financial, please send your resume to:
Bradley A. Fay, Executive Vice President 800-713-4046 813-282-0808 Local 813 ...
www.gunnallen.com/ca_openings.asp - 9k - Cached - Similar pages
Alert-IPO! - GunnAllen Financial Inc
... GunnAllen Financial Inc. 1715 Westshore Blvd - Suite 775 Tampa FL 33607 USA
813-282-0808 See also: | Registration | Public | Withdrawn | Postponed |. ...
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Firm Profile - GUNNALLEN FINANCIAL INC
Profile (see Definition>>). GUNNALLEN FINANCIAL INC. 1715 WESTSHORE
BLVD - SUITE 775. TAMPA,FL,33607. USA. 813-282-0808. PRINT THIS PAGE. ...
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Bright Start Savings
... Cloud, MN 56301 (320) 656-4300 Gunn Allen Financial, Inc. 1715 N. Westshore
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Divorce Professional - Klimson Todd, Financial Planner
... Seventh Floor, Tampa, FL 33607 County: Hillsborough. Phone: 813-282-0808
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- 2001-05-28 - The Business Journal of Tampa Bay
... Sponsor: Tampa Bay Financial Advisors Club; Time: 5 pm; Location: The Tampa Club,
101 E. Kennedy Blvd., Suite 4200; Cost: No cost; Phone: (813) 282-0808 ext. ...
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