| Address:
|
26600 TELEGRAPH RD
STE 300 |
| City: |
SOUTHFIELD |
|
State: |
MI |
|
Zip Code: |
48034 |
| Telephone: |
810-358-1100 |
|
Description of Business
|
Primary SIC Code:
6331 |
| (As filed with the SEC)
|
|
|
Meadowbrook Insurance Group, Inc. ("We," "Our," or "Us") (NYSE: MIG) is a
holding company organized as a Michigan corporation in 1985. We were formerly
known as Star Holding Company and in November 1995, upon acquisition of
Meadowbrook, Inc. ("Meadowbrook"), we changed our name. Meadowbrook was founded
in 1955 as Meadowbrook Insurance Agency and was subsequently incorporated in
Michigan in 1965.
We serve as a holding company for our wholly owned subsidiary Star Insurance
Company ("Star"), and Star's wholly owned subsidiaries, Savers Property and
Casualty Insurance Company, Williamsburg National Insurance Company, and
Ameritrust Insurance Corporation (which collectively are referred to as the
"Insurance Company Subsidiaries"), as well as, American Indemnity Insurance
Company, Ltd. and Preferred Insurance Company, Ltd ("PICL"). We also serve as a
holding company for Meadowbrook, Crest Financial Corporation, and their
subsidiaries. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 09/2008 | 0.68 | 0.020 | 10.38 | | 06/2008 | 0.83 | 0.020 | 6.39 | | 03/2008 | 0.81 | 0.020 | 9.64 | | 12/2007 | 0.85 | NA | 11.07 | | 09/2007 | 0.85 | NA | 10.60 | | 06/2007 | 0.82 | NA | 13.37 | | 03/2007 | 0.79 | NA | 13.91 | | 12/2006 | 0.75 | NA | 13.19 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2007 |
Leverage |
2007 |
| Net Inc/Comm Equity | 0.14 | Total Liab/Total Assets | 0.73 | | Net Inc/Total Assets | 0.03 | Total Liab/Inv Cap | 0.73 | | Net Inc/Inv Cap | 0.03 | Total Liab/Comm Equity | 4.16 | | Pretax Inc/Net Sales | 0.12 | Interest Coverage Ratio | 7.53 | | Net Inc/Net Sales | 0.08 | Curr Debt/Equity | NA | | Cash Flow/Net Sales | 0.26 | LTD/Equity | 0.19 | | SG&A/NetSales | 0.86 | Total Debt/Equity | 0.19 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 1.11 | Quick Ratio | NA | | Inventory Turnover | NA | Current Ratio | NA | | Inventory Day Sales | NA | Net Rec/Curr Assets | NA | | Net Sales/Work Cap | NA | Inv/Curr Assets | NA | | Net Sales/PP&E | NA | | |
Income Statement (Millions) |
| |
9/30/2008
|
6/30/2008
|
3/31/2008
|
12/31/2007
|
|
Total Revenues(Net Sales)
|
119.88
|
93.43
|
85.17
|
86.40
|
|
Cost of Goods Sold
|
NA
|
NA
|
NA
|
NA
|
|
Selling & Admin Exps
|
108.51
|
78.36
|
72.40
|
74.22
|
|
Operating Income
|
9.84
|
13.51
|
11.22
|
11.56
|
|
Interest Exp
|
2.33
|
1.25
|
1.31
|
1.40
|
|
Pretax Income
|
7.51
|
12.26
|
9.91
|
10.17
|
|
Other Income
|
NA
|
NA
|
NA
|
NA
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
4.20
|
8.44
|
7.06
|
7.33
|
|
Assets
|
9/30/2008
|
6/30/2008
|
3/31/2008
|
12/31/2007
|
|
Cash & Short Term Investments
|
102.21
|
80.04
|
50.01
|
40.85
|
|
Receivables - Total
|
424.15
|
313.82
|
311.29
|
304.62
|
|
Inventories - Total
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Assets
|
NA
|
NA
|
NA
|
NA
|
|
Net Property, Plant & Equipment
|
NA
|
NA
|
NA
|
NA
|
|
Total Assets
|
1,806.93
|
1,138.21
|
1,130.83
|
1,113.97
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
55.70
|
40.69
|
42.52
|
45.25
|
|
Debt in Current Liabilities
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Liabilities
|
NA
|
NA
|
NA
|
NA
|
|
Long-Term Debt
|
143.56
|
55.93
|
55.93
|
55.93
|
|
Total Liabilities
|
1,384.34
|
826.19
|
820.91
|
812.07
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
NA
|
NA
|
NA
|
NA
|
|
Preferred Stock
|
NA
|
NA
|
NA
|
NA
|
|
Common Stock
|
0.58
|
0.37
|
0.37
|
0.37
|
|
Retained Earnings
|
120.50
|
118.29
|
110.59
|
104.27
|
|
Treasury Stock
|
NA
|
NA
|
NA
|
NA
|
|
Total Stockholders' Equity
|
422.59
|
312.02
|
309.92
|
301.89
|
|
Total Liabilities and Stockholders' Equity
|
1,806.93
|
1,138.21
|
1,130.83
|
1,113.97
|
Cash Flow Summary (Millions) |
|
Categories
|
9/30/2008
|
6/30/2008
|
3/31/2008
|
12/31/2007
|
|
Net Cash Provided by Operating Activities
|
51.65
|
17.30
|
8.84
|
36.38
|
|
Net Cash Provided by Investing Activities
|
-88.26
|
14.99
|
0.67
|
-44.99
|
|
Net Cash Provided by Financing Activities
|
58.78
|
-2.27
|
-0.35
|
-0.35
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2003 | 210.80 | 10.10 | 0.35 | | 12/2004 | 270.28 | 14.06 | 0.48 | | 12/2005 | 304.02 | 17.91 | 0.60 | | 12/2006 | 318.24 | 22.03 | 0.75 | | 12/2007 | 340.74 | 27.99 | 0.85 | | Growth Rates | 12.75 | 29.03 | 24.84 |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 12/31/08 | 153 | 48,289 | 83.77 |
|
Report Date :
1/6/2009
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