Covington Investment Advisors, Inc. Blog

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COVINGTON SUPPORTS THE PROGRAMS OF THE WESTMORELAND SYMPHONY ORCHESTRA

    “One of the greatest dignities of humankind is that each successive generation is invested in the welfare of each new generation.” – Fred Rogers   "Art and music education help children develop abstract thinking that helps them in the business world.” – Alan Greenspan     On October 1, 2016 Covington Investment Advisors sponsored the opening night concert of the 48th season of the Westmoreland Symphony Orchestra.  As the Orchestra began their season the staff and guests of Covington Investment Advisors enjoyed “Brasstacular” at the Palace Theatre.  This concert featured Brandon Ridenour on trumpet with Daniel Meyer conducting.  Musical selections included Trumpet Concerto by Arutiunian; Dvorak’s Symphony No. 8 and the very familiar William Tell Overture by Rossini.   At Covington not only do we strive to meet our clients’ financial goals we also focus on making a difference in our community.  Fostering creativity in our schools is the key to...
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Annuities: Pros & Cons

                             Annuities “Annuities are not bought, they’re sold" An annuity is a contract between you and an insurance company that is designed to meet retirement and other long-range goals, under which you make a lump-sum payment for periodic payments to you in return. There are three types of annuities; fixed, indexed, and variable. Fixed: The Insurance Company agrees to pay you no less than a specified rate of interest during the time your account is growing. Indexed: The Insurance Company credits you with a return that is based on changes in an index (such as the S&P 500 Composite). Variable: You can choose to invest your purchase payments from among a range of different investment options, typically mutual funds. Your payments will be based off of the performance of the investment options you chose. You can choose between an Immediate Payout or a Deferred Payout: Immediate: You exchange your lump...
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S&P Earnings Scorecard

As of 5/31/16, 97% of S&P 500 companies have reported their earnings for the first quarter of 2016. According to S&P Dow Jones Indices, of those that have reported we have operating earnings per share of $24.09 which is a decline of -6.7% from one year ago. The 12 month operating earnings per share is $98.73 for the index, a decline of -11.45% from one year ago and a decline of -1.71% from the previous quarter. This marks the fourth consecutive quarter of declining year-over-year earnings and the fifth consecutive quarter of year-over-year revenue declines.   Source: S&P Dow Jones Indices    The decline in earnings has largely been contributed to two things: the Dollar strength and the decline in Energy related activities. A stronger US dollar negatively impacts earnings for those companies that generate revenue outside the US. In fact, approximately 48% of revenues for S&P 500 companies are derived...
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The Con Artists are Back: Part II

  The Con Artists Are Back: Part II IT’S NOT PARANOIA IF THEY REALLY ARE OUT TO GET YOU!                   I had the pleasure of attending a Cyber Security Conference recently and the opportunity to hobnob with my fellow wizards.  Not surprisingly, several panel discussion members pointed out that about 33%, one third, of all successful attacks on computer systems from single users to large networks are the result of successful social engineering.  This runs the gamut from fraudulent phone calls looking for data or scaring you into sending prepaid cards somewhere, to phishing (pronounced fishing) email attempts which look for usable personal information or a means to enter your computer in order to do future damage, to masquerading as someone who has authority to move money and demanding funds be moved.  The latter group is causing some concern.                  The original Nigerian Prince scam was the brain child of...
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The Con Artists Are Back

  The Con Artists Are Back.   It is that time of year again taxes are done and we look forward to summer.  Also at this time of year some industrious weasels begin to call people in the hope of convincing them that they are the real IRS and that they need to send money, somewhere, right now, in order to prevent arrest, property seizure and a whole host of other nasty stuff.  In addition to these industrious crooks are the ones claiming to be able to see viruses on your computer and they can fix it but you need to give them your credit card number and access to your computer.  Or that some other bill is due and your water/electricity/cable will be shut off or car repossessed; the list goes on.    DO NOT DO IT!   The tax man and most utilities will send you a letter stating...
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Covington Investment Advisors, Inc.
301 E. Main Street
Ligonier, PA 15658
Phone: 724-238-0151
Fax: 724-238-0148
Email: covington@covingtoninvestment.com