RE: $23.58C
I think you have to realize that the last quarter was not a "Quarterly Miss" but more of an annual review of reserves after giving due consideration to their new actuarie's input. This type of review will not happen on a quarterly basis so there are no worries for Qq, Q2 and Q3.
I take the optimistic view that they are getting their reserves in more than adequate shape so that some redundancies will be created going forward.
At some point in time the yield on the investment portfolio will be rising sharply and a hard market will be giving good earnings growth through reduced combined ratios. These two factors will cause substantial gains in earnings which will drive the stock price higher. When this occurs KFS does not want to be encumbered by negative revisions to existing reserves.
I am optimistic!