Solar Life Monetary (SLF), one of many world’s largest life insurance coverage firms, introduced yesterday it has accomplished its acquisition of PinnacleCare Worldwide.
Based mostly in Maryland, PinnacleCare is a personal firm specializing in referral providers within the healthcare system and medical intelligence. It has roughly 170 staff and over 20 years of business expertise.
PinnacleCare shall be built-in into the Cease-Loss & Well being Insurance coverage enterprise of Solar Life in the USA, the nation’s largest impartial stop-loss insurance coverage supplier. Solar Life and PinnacleCare will collectively develop new options for patrons within the stop-loss and medical health insurance industries.
By means of Solar Life’s in depth distribution community and employer relationships, PinnacleCare will serve a broader buyer base whereas serving current prospects. (See Solar Life Monetary inventory chart on TipRanks)
Two months in the past, BMO Capital analyst Tom Mackinnon maintained a Purchase score on Solar Life and set a worth goal of $75.00 (C$92.29). This means 46% upside potential.
Mackinnon stated throughout an earnings name, “With respect to Asia, if I take a look at the affect of recent enterprise, it was modestly unfavourable, but when I take a look at it in comparison with the fourth quarter, it’s a giant enchancment even supposing gross sales within the first quarter of this 12 months are literally decrease than they had been within the fourth quarter.”
The remainder of the Avenue is bullish on SLF with a Robust Purchase consensus score based mostly on 6 Buys and a pair of Holds. The common Solar Life Monetary worth goal of C$74.91 implies 17.3% upside potential to present ranges.
TipRanks’ Good Rating
SLF scores a 9 out of 10 on TipRanks’ Good Rating score system, indicating that the inventory’s returns are prone to beat the general market.
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