OneBeacon Insurance Group Ltd. (OB) Upgraded to “Hold” by 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 report released 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) traded up 2.04% on Wednesday, hitting $14.50. The company’s stock had a trading volume of 63,095 shares. The stock has a market cap of $1.37 billion, a PE ratio of 17.22 and a beta of 0.64. OneBeacon Insurance Group has a 12 month low of $11.68 and a 12 month high of $14.95. The firm has a 50 day moving average of $14.23 and a 200-day moving average of $13.50.
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OneBeacon Insurance Group (NYSE:OB) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.05. OneBeacon Insurance Group had a net margin of 6.78% and a return on equity of 7.56%. On average, analysts expect that OneBeacon Insurance Group will post $0.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Friday, September 9th were paid a $0.21 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.84 annualized dividend and a dividend yield of 5.79%. OneBeacon Insurance Group’s payout ratio is 98.82%.
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of OneBeacon Insurance Group by 1.3% in the second quarter. Vanguard Group Inc. now owns 1,519,678 shares of the company’s stock valued at $20,972,000 after buying an additional 19,507 shares during the last quarter. M&T Bank Corp raised its position in shares of OneBeacon Insurance Group by 5.0% in the second quarter. M&T Bank Corp now owns 1,012,131 shares of the company’s stock valued at $13,967,000 after buying an additional 48,499 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of OneBeacon Insurance Group by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 964,058 shares of the company’s stock valued at $13,304,000 after buying an additional 77,666 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of OneBeacon Insurance Group during the second quarter valued at about $6,223,000. Finally, Bridgeway Capital Management Inc. raised its position in shares of OneBeacon Insurance Group by 1.1% in the second quarter. Bridgeway Capital Management Inc. now owns 382,720 shares of the company’s stock valued at $5,282,000 after buying an additional 4,100 shares during the last quarter. 17.73% of the stock is owned by institutional investors.
About OneBeacon Insurance Group
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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