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. “
Shares of OneBeacon Insurance Group (NYSE:OB) opened at 14.31 on Wednesday. The company has a market capitalization of $1.35 billion, a P/E ratio of 17.00 and a beta of 0.64. OneBeacon Insurance Group has a one year low of $11.68 and a one year high of $14.95. The firm has a 50-day moving average of $14.20 and a 200-day moving average of $13.48.
OneBeacon Insurance Group (NYSE:OB) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.05. OneBeacon Insurance Group had a return on equity of 7.56% and a net margin of 6.78%. Equities research analysts expect that OneBeacon Insurance Group will post $0.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 9th were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.84 dividend on an annualized basis and a yield of 5.87%. OneBeacon Insurance Group’s payout ratio is 98.82%.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased 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 worth $20,972,000 after buying an additional 19,507 shares during the last quarter. M&T Bank Corp increased 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 worth $13,967,000 after buying an additional 48,499 shares during the last quarter. Dimensional Fund Advisors LP increased 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 worth $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 worth $6,223,000. Finally, Bridgeway Capital Management Inc. increased 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 worth $5,282,000 after buying an additional 4,100 shares during the last quarter. Institutional investors and hedge funds own 17.73% of the company’s stock.
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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