Investors focused on the Finance space have likely heard of American Tower Corporation REIT (AMT), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AMT and the rest of the Finance group’s stocks.

American Tower Corporation REIT is one of 901 individual stocks in the Finance sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AMT is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for AMT’s full-year earnings has moved 0.35% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, AMT has gained about 6.47% so far this year. In comparison, Finance companies have returned an average of -13.39%. This shows that American Tower Corporation REIT is outperforming its peers so far this year.

Looking more specifically, AMT belongs to the REIT and Equity Trust – Other industry, a group that includes 119 individual stocks and currently sits at #213 in the Zacks Industry Rank. This group has lost an average of 2.82% so far this year, so AMT is performing better in this area.

Investors in the Finance sector will want to keep a close eye on AMT as it attempts to continue

FISHERS, IN / ACCESSWIRE / October 7, 2020 / American Resources Corporation (NASDAQ:AREC) (“American Resources” or the “Company”), a supplier of raw materials to the rapidly growing global infrastructure marketplace, today announced that it has entered into a securities purchase agreement with institutional investors for the issuance and sale of 5,200,000 shares of its common stock at a price of $2.50 per share, for aggregate gross proceeds of approximately $13.0 million, in a registered direct offering.

Kingswood Capital Markets, division of Benchmark Investments, Inc., is acting as exclusive placement agent for the offering.

The offering is expected to close on or about October 9, 2020, subject to the satisfaction of customary closing conditions.

The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-230786) previously filed and declared effective by the Securities and Exchange Commission (the “SEC”), and declared effective on June 4, 2019. The offering of the shares of common stock will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, describing the terms of the proposed offering, which will be filed with the SEC. The Company will also file a Form 8-K in connection with the securities purchase agreement and the closing of the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

When available, copies of the prospectus supplement relating to this registered direct offering, together with the accompanying prospectus, can be obtained at the SEC‘s website at

PITTSFIELD TOWNSHIP, MI — A chemical company is building a new innovation center and regional headquarters in the Ann Arbor area.

Wacker Chemical Corporation is investing in a nearly 14-acre site at 4950 S. State St. in Pittsfield Township. The North American Innovation Center and Regional Headquarters will house 300 employees, including those in its Adrian headquarters and 70 new “highly-paid” employees within the next five years, according to the Michigan Economic Development Corporation (MEDC). Two-thirds of the Adrian employees will remain to continue production of elastomers, silicone fluids and silicone emulsions.

The company is expected to break ground before the end of the year and complete the project by 2022, MEDC spokeswoman Kathleen Achtenberg said.

“We are excited to move forward with our Innovation Center and Regional Headquarters to be located within Michigan,” Wacker CEO David Wilhoit said in a statement. “Our new facility will enable future growth in the state and serve as an important anchor for our operations across North America. This area is one of the nation’s leading communities for R&D. We look forward to networking with, and recruiting from, this highly educated and skilled talent base.”

Chemical company looking at Ann Arbor area to build headquarters

The company sought out the Ann Arbor area to tap into the local talent pool. Business offices will take up more than 70% of the building and about 30% will be dedicated to research and development, according to the site plan. Pittsfield Charter Township offered a 50% property tax abatement to support the project. The site was last sold to Maui Properties LLC for $890,000 in September 2019, property records show.

The company in 2017, the company established a footprint in Ann Arbor with a research and product development center. The new $51-million headquarters project will receive a $1-million

Fortegra Financial Corporation (“Fortegra”), a leading specialty insurer and subsidiary of Tiptree Inc. (NASDAQ: TIPT) (“Tiptree”), announced today the formation of a new excess and surplus lines subsidiary, Fortegra Specialty Insurance Company.

Now that it has received approval in its domicile state of Arizona, Fortegra’s new E&S subsidiary is working to obtain the remaining regulatory approvals necessary to conduct business throughout the United States. Fortegra anticipates that underwriting within the E&S company will commence in the fourth quarter of 2020.

Richard Kahlbaugh, CEO of Fortegra, commented: “We have seen rates harden in the market. The catalysts for the hardening are diverse and as such we expect the trend to continue for the foreseeable future. Adding an excess and surplus lines company to our portfolio was a natural response, allowing us to broaden our product reach and scope within the U.S.”

Kahlbaugh further added, “Fortegra’s continued success is rooted in its ongoing commitment to agent-driven distribution and maintaining a broad array of underwriting solutions and an experienced underwriting team that leverages proprietary artificial intelligence to enhance and expedite decision making. The formation and operation of our excess and surplus company will further our goal to carefully underwrite and expedite new program business.”

About Fortegra
Fortegra Financial Corporation (a Tiptree Inc. company) and its subsidiaries comprise a single-source insurance services provider with an A- (Excellent) Financial Category VIII A.M Best Company rating. Fortegra’s underwriting segments include specialty programs, credit insurance and warranty solutions. Since 1978, the Company’s collaborative approach and innovative products have fueled rapid growth and increasing demand from both domestic and international partners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200930005656/en/

Contacts

Holly Bohn
Fortegra
[email protected]
904.357.2122

Source Article

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Lexington National Insurance Corporation (Lexington National) (Stuart, FL).

The Credit Ratings (ratings) reflect Lexington National’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

The revision of the outlooks to negative reflects a decline in Lexington National’s underwriting results in recent years that has resulted in underwriting and operating performance metrics falling short of the composite averages. Underwriting performance has been impacted negatively by volatility in loss experience, and an above average expense ratio driven by legal and underwriting expenses intended to mitigate losses and address various bail reform legislative efforts. Lexington National’s very strong balance sheet strength is supported by its strongest risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), which is offset somewhat by limited surplus growth due to annual stockholder dividends. The limited business profile reflects its concentration operating largely as a bail bond surety writer. AM Best views Lexington National’s ERM as appropriate for its risk profile, with close monitoring of agencies and legislative changes.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper