OneBeacon Insurance Group Ltd. (OB) Upgraded to Hold at Zacks Investment Research
OneBeacon Insurance Group Ltd. (NYSE:OB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company. Their underwriting companies offer a range of specialty insurance products sold through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment, and providing distinct products and tailored coverages and services. OneBeacon’s solutions target group accident; commercial surety; crop; design professionals; entertainment; environmental; excess property; financial services; healthcare; management liability; ocean and inland marine; programs; public entities; technology; and tuition refund. For further information about our products and services visit: www.onebeacon.com and to remain up to date on OneBeacon’s news, follow us on Twitter @OneBeaconIns or visit our online newsroom: www.onebeacon.com/newsroom. “
OneBeacon Insurance Group (NYSE:OB) opened at 14.31 on Wednesday. The firm has a market capitalization of $1.35 billion, a P/E ratio of 17.00 and a beta of 0.64. The company’s 50-day moving average is $14.20 and its 200-day moving average is $13.48. OneBeacon Insurance Group has a one year low of $11.68 and a one year high of $14.95.
OneBeacon Insurance Group (NYSE:OB) last released its earnings results on Wednesday, August 3rd. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.05. OneBeacon Insurance Group had a net margin of 6.78% and a return on equity of 7.56%. Equities analysts forecast that OneBeacon Insurance Group will post $0.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend was Wednesday, September 7th. OneBeacon Insurance Group’s dividend payout ratio (DPR) is 98.82%.
Hedge funds have recently made changes to their positions in the company. BlackRock Group LTD increased its stake in shares of OneBeacon Insurance Group by 28.4% in the second quarter. BlackRock Group LTD now owns 10,006 shares of the company’s stock valued at $138,000 after buying an additional 2,213 shares during the period. Sei Investments Co. increased its stake in shares of OneBeacon Insurance Group by 79.6% in the second quarter. Sei Investments Co. now owns 11,479 shares of the company’s stock valued at $159,000 after buying an additional 5,089 shares during the period. Clinton Group Inc. bought a new stake in shares of OneBeacon Insurance Group during the second quarter valued at approximately $190,000. Stifel Financial Corp bought a new stake in shares of OneBeacon Insurance Group during the second quarter valued at approximately $269,000. Finally, Martingale Asset Management L P bought a new stake in shares of OneBeacon Insurance Group during the second quarter valued at approximately $313,000. 17.73% of the stock is owned by institutional investors.
OneBeacon Insurance Group Company Profile
OneBeacon Insurance Group, Ltd., through its subsidiaries, is a property and casualty insurance writer that offers a range of insurance products in the United States primarily through independent agencies, regional and national brokers, wholesalers and managing general agencies. The Company’s segments include Specialty Products, Specialty Industries, and Investing, Financing and Corporate.
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