Meadowbrook Insurance Group Downgraded to “Underperform” at Zacks (MIG)
Meadowbrook Insurance Group (NYSE:MIG) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Monday, Analyst Ratings Network.com reports. They currently have a $5.30 price objective on the stock. Zacks‘ price target would suggest a potential downside of 4.85% from the stock’s previous close.
MIG has been the subject of a number of other recent research reports. Analysts at Keefe, Bruyette & Woods cut their price target on shares of Meadowbrook Insurance Group from $8.50 to $7.50 in a research note on Thursday. Separately, analysts at Compass Point downgraded shares of Meadowbrook Insurance Group to a “neutral” rating in a research note on Thursday. They now have a $6.50 price target on the stock, down previously from $8.00. Finally, analysts at FBR Capital Markets cut their price target on shares of Meadowbrook Insurance Group from $10.00 to $8.00 in a research note on Wednesday, February 19th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.55.
Meadowbrook Insurance Group (NYSE:MIG) traded down 1.08% on Monday, hitting $5.51. 185,311 shares of the company’s stock traded hands. Meadowbrook Insurance Group has a one year low of $5.25 and a one year high of $8.90. The stock’s 50-day moving average is $6.3 and its 200-day moving average is $6.6. The company’s market cap is $274.9 million.
Meadowbrook Insurance Group (NYSE:MIG) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.30) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.12 by $0.42. Analysts expect that Meadowbrook Insurance Group will post $0.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, April 7th. Shareholders of record on Friday, March 21st will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, March 19th.
Meadowbrook Insurance Group, Inc (NYSE:MIG) is a specialty commercial insurance underwriter and insurance administration services company.
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