This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

American National Announces Third Quarter 2012 Results

GALVESTON, Texas, Oct. 22, 2012 (GLOBE NEWSWIRE) -- American National Insurance Company (Nasdaq:ANAT) announced third quarter 2012 net income of $59,186,000 ($2.20 per diluted share) compared to net income of $57,650,000 ($2.16 per diluted share) for the same period in 2011.

Third quarter after tax operating income, which excludes after tax net realized investment gains, increased to $50,782,000 ($1.89 per diluted share), as compared with $49,408,000 ($1.85 per diluted share) for the same period in 2011. After tax net realized investment gains were $8,404,000 ($0.31 per diluted share) for the third quarter of 2012 as compared with the net realized gains of $8,242,000 ($0.31 per diluted share) for the third quarter of 2011.

Net income for the nine months ended September 30, 2012 was $124,908,000 ($4.65 per diluted share), a decrease from net income of $134,418,000 ($5.03 per diluted share) for the same period in 2011. A lower level of realized gains on investments was the primary reason for the reduction in net income. The decrease was partially offset by improved property and casualty and annuity segment results.

After tax operating earnings for the first nine months of 2012, which exclude after tax net realized investment gains and losses, were $108,802,000 ($4.05 per diluted share) compared to $96,954,000 ($3.63 per diluted share) for the same period in 2011. After tax operating earnings improved as a result of increased earnings in the property and casualty and annuity segments. After tax net realized investment gains totaled $16,106,000 ($0.60 per diluted share) for the first nine months of 2012 compared with net realized investment gains of $37,464,000 ($1.40 per diluted share) for the same period in 2011.

Total assets as of September 30, 2012 increased to $23.0 billion, a 2.5% increase from the end of 2011. Stockholders' Equity as of September 30, 2012 increased to $3.8 billion, up 5.1% from the end of 2011. Book value per diluted share was $142.44 at September 30, 2012 as compared to $136.16 per diluted share at December 31, 2011. Total revenues for the nine months ended September 30, 2012 were slightly less than 2011, primarily as a result of a decrease in realized investment gains.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs