Tower Group International, Ltd. Stock Rating Reaffirmed by Guggenheim (TWGP)
“Tower Group International, Ltd.” (NASDAQ:TWGP)‘s stock had its “neutral” rating reiterated by equities researchers at Guggenheim in a research report issued on Wednesday, American Banking and Market News reports. They currently have a $11.00 price objective on the stock. Guggenheim’s price target would suggest a potential upside of 48.65% from the stock’s previous close.
Shares of “Tower Group International, Ltd.” (NASDAQ:TWGP) traded up 6.08% during mid-day trading on Wednesday, hitting $7.85. 1,886,328 shares of the company’s stock traded hands. “Tower Group International, Ltd.” has a 52 week low of $6.58 and a 52 week high of $22.30. The stock has a 50-day moving average of $12.9 and a 200-day moving average of $17.91. The company has a market cap of $450.8 million and a price-to-earnings ratio of 5.39.
Several other analysts have also recently commented on the stock. Analysts at Sidoti downgraded shares of “Tower Group International, Ltd.” (NASDAQ:TWGP) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, September 18th. Separately, analysts at FBR Capital Markets reiterated a “marketperform” rating on shares of “Tower Group International, Ltd.” (NASDAQ:TWGP) in a research note to investors on Wednesday, September 18th. They now have a $22.00 price target on the stock, up previously from $17.00. Finally, analysts at FBR & Co. downgraded shares of “Tower Group International, Ltd.” (NASDAQ:TWGP) from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, September 18th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $19.43.
In other “Tower Group International, Ltd.” news, CEO Michael Lee unloaded 1,233,460 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $10.22, for a total transaction of $12,605,961.20. Following the sale, the chief executive officer now directly owns 2,297,926 shares in the company, valued at approximately $23,484,804. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Tower Group, Inc (NASDAQ:TWGP), through its subsidiaries, offers a range of commercial, personal and specialty property and casualty insurance products and services to businesses in various industries and to individuals.
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