InvestorsHub Logo

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Live Updating
profile icon
PEACHMAN PremiumMember
10/03/15 8:52 AM
profile icon
PEACHMAN PremiumMember
08/12/15 11:53 AM
profile icon
PEACHMAN PremiumMember
08/08/15 10:06 AM
profile icon
Fletch PremiumMember
08/07/15 4:40 PM
profile icon
PEACHMAN PremiumMember
08/05/15 6:57 PM
profile icon
PEACHMAN PremiumMember
06/25/15 7:29 AM
profile icon
Fletch PremiumMember
06/24/15 8:16 PM
profile icon
PEACHMAN PremiumMember
06/03/15 12:02 PM
profile icon
Fletch PremiumMember
04/22/15 4:39 PM
profile icon
Fletch PremiumMember
12/17/14 12:42 PM
profile icon
Fletch PremiumMember
10/27/14 7:04 PM
profile icon
PEACHMAN PremiumMember
10/27/14 6:50 PM
profile icon
PEACHMAN PremiumMember
09/06/14 4:36 PM
profile icon
Fletch PremiumMember
09/06/14 3:01 PM
profile icon
PEACHMAN PremiumMember
08/29/14 2:00 PM
profile icon
PEACHMAN PremiumMember
08/11/14 10:56 AM
profile icon
PEACHMAN PremiumMember
07/31/14 11:59 AM
profile icon
Fletch PremiumMember
07/31/14 11:53 AM
profile icon
PEACHMAN PremiumMember
07/31/14 11:25 AM
profile icon
Fletch PremiumMember
07/24/14 4:54 PM
profile icon
Fletch PremiumMember
06/05/14 1:56 PM
profile icon
PEACHMAN PremiumMember
05/15/14 8:58 AM
profile icon
Fletch PremiumMember
05/10/14 7:53 AM
profile icon
PEACHMAN PremiumMember
05/10/14 6:55 AM
profile icon
PEACHMAN PremiumMember
05/10/14 6:54 AM
profile icon
Fletch PremiumMember
04/23/14 5:20 PM
profile icon
Fletch PremiumMember
03/04/14 2:47 PM
profile icon
PEACHMAN PremiumMember
12/21/12 11:21 AM
profile icon
PEACHMAN PremiumMember
12/18/12 4:53 PM
profile icon
PEACHMAN PremiumMember
12/17/12 3:07 PM
profile icon
PEACHMAN PremiumMember
12/17/12 11:18 AM
profile icon
PEACHMAN PremiumMember
12/17/12 11:15 AM
profile icon
Penny Roger$ Free
02/03/12 3:34 AM
profile icon
Penny Roger$ Free
02/03/12 3:34 AM
profile icon
THUMBS Free
02/09/11 3:32 PM
profile icon
loniee Free
12/16/10 9:23 PM
profile icon
loniee Free
10/11/10 4:28 PM
profile icon
THUMBS Free
10/11/10 3:06 PM
profile icon
THUMBS Free
08/12/10 12:40 PM
profile icon
loniee Free
08/12/10 12:40 PM
profile icon
THUMBS Free
08/12/10 12:39 PM
profile icon
loniee Free
08/12/10 12:38 PM
profile icon
loniee Free
07/28/10 3:45 PM

Symetra Financial (SYA) RSS Feed

Followers
3
Posters
6
Posts (Today)
0
Posts (Total)
83
Created
01/22/10
Type
Free
Moderators

Test

IPO News Archive
Symetra Financial highlighted as Renaissance Capital's Featured IPO
1/19/10


Symetra Financial, which provides group health, retirement, life and employee benefits insurance, has been selected as Renaissance Capital's Featured IPO. Based in Bellevue, WA and backed by well-respected insurer White Mountains and investment company Berkshire Hathaway, Symetra Financial is one of six US IPOs that are scheduled to price this week.

The company plans to raise $351 million by offering 27 million shares at a price range of $12-$14; at the mid-point of the proposed range, it will command a market value of $1.5 billion. Symetra Financial, which was founded in 1957, booked $1.5 billion in sales over the last 12 months. BofA Merrill Lynch, J.P. Morgan, and Goldman Sachs are the lead underwriters on the deal.

Please read our full IPO Commentary.

View IPO Profile: SYA
......................
Thursday 01/21/2010 10:27 AM ET - MorningNotes
27,000,000 shares @ $12 - 14 Managers: BofA Merrill Lynch, JPMorgan, Goldman, Sachs & Co., Barclays Capital People keep asking us, "why do you like this deal?". Easy, Symetra is a 50 year old insurance company that weathered the financial crisis very well while many other insurers got hammered. BRK owns 26%. Warren Buffett is not a seller

 ....................................

Buffett-backed Symetra IPO trades above IPO price

NEW YORK
Fri Jan 22, 2010 10:03am EST
  
 
 

NEW YORK (Reuters) - U.S. life insurer Symetra Financial Corp (SYA.N) opened 5.8 percent above its initial public offering price on Friday and was up as much as 9.2 percent in early trades on the New York Stock Exchange.

Hot Stocks

Symetra, which counts Warren Buffett's Berkshire Hathaway Inc (BRKa.N) as one of its investors, sells group health, retirement and life insurance, and employee benefits.

The company on Thursday sold 30.4 million shares for $12 each, raising about $364.8 million. It originally planned to sell 27 million shares for between $12 and $14 each.

This is the second time Symetra has tried to go public. It first filed for an IPO in 2007, but pulled the deal in October 2008 during the worst of the financial crisis.

This time, it cut the size of the deal -- both from its 2007 filing, and again, in October. Majority investors Berkshire and White Mountains Insurance Group Ltd (WTM.N) also said they would not sell any shares.

In the initial 2007 filings, both Berkshire and White Mountains had planned to reduce their respective 26.3 percent stakes in Symetra to 15.2 percent.

Symetra expects net proceeds from the IPO of about $208.8 million. It said in a regulatory filing with the U.S. Securities and Exchange Commission that its board of directors has not yet determined how it will use the proceeds, but said they would likely go to general corporate purposes including contributions of capital to its insurance and other subsidiaries.

Symetra reported revenue of $1.3 billion in the nine months that ended September 30, up from $1.1 billion in the year-earlier period. The company reported net income of $96.2 million, up from $27 million.

Joint book-runners for the offering are Bank of America Merrill Lynch, JP Morgan, Goldman Sachs & Co and Barclays Capital. They have the option to purchase an additional 4.05 million shares.

Shares in the Bellevue, Washington-based company opened at $12.70 and traded as high as $13.11.

   

Volume:
Day Range:
Last Trade Time:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
SYA Latest News
  • No Recent News Available for this company!
New Post