White Mountains Insurance Group (NYSE:WTM) declared that its Board of Directors has initiated a share buyback program, which authorizes the company to buyback 500,000 outstanding shares on Thursday, August 17th, EventVestor reports. This buyback authorization authorizes the insurance provider to repurchase shares of its stock through a dutch auction. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

A number of equities analysts have recently issued reports on WTM shares. Zacks Investment Research upgraded shares of White Mountains Insurance Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. ValuEngine upgraded shares of White Mountains Insurance Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th.

Shares of White Mountains Insurance Group (NYSE WTM) opened at 864.63 on Friday. The company’s 50 day moving average is $859.32 and its 200-day moving average is $878.28. The company has a market capitalization of $3.70 billion, a P/E ratio of 37.28 and a beta of 0.52. White Mountains Insurance Group has a 1-year low of $805.10 and a 1-year high of $948.94.

White Mountains Insurance Group (NYSE:WTM) last posted its quarterly earnings results on Friday, August 4th. The insurance provider reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $1.66. White Mountains Insurance Group had a net margin of 9.80% and a return on equity of 1.01%. The company had revenue of $18.50 million for the quarter, compared to the consensus estimate of $299.20 million. On average, equities research analysts forecast that White Mountains Insurance Group will post ($10.75) EPS for the current year.

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White Mountains Insurance Group Company Profile

White Mountains Insurance Group, Ltd. is a holding company. The Company’s principal businesses are conducted through its insurance subsidiaries and other affiliates. Its segments include OneBeacon, HG Global/BAM and Other Operations. The OneBeacon segment consists of the operations of OneBeacon Insurance Group, Ltd.

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