UPDATE: Bank of America Downgrades Protective Life to Underperform

According to Bank of America, Protective Life PL is downgraded to Underperform. Bank of America said that at the current share price, PL is only 4% away from our one-year forward price objective. “With a 2.2% dividend yield, this suggests total return potential of 6% to 7% during the next 12 months and there is only one name on our coverage list with a less favorable total return outlook.” Protective Life closed yesterday at $27.77.