Trean Insurance Group (NASDAQ:TIG) Raised to “Hold” at Zacks Investment Research

Trean Insurance Group (NASDAQ:TIGGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Trean Insurance Group Inc. provides products and services to the specialty insurance market. It underwrites specialty casualty insurance products both through its program partners and its own managing general agencies. The company also provides issuing carrier services, claims administration and reinsurance brokerage services. Trean Insurance Group Inc. is based in Wayzata, United States. “

A number of other analysts also recently commented on TIG. JPMorgan Chase & Co. downgraded Trean Insurance Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $6.00 in a report on Tuesday, March 29th. StockNews.com initiated coverage on Trean Insurance Group in a report on Thursday, March 31st. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.00.

TIG stock opened at $7.01 on Friday. The stock has a market capitalization of $358.86 million, a price-to-earnings ratio of 16.30 and a beta of 0.65. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.07. Trean Insurance Group has a 52-week low of $3.19 and a 52-week high of $16.99. The stock’s fifty day simple moving average is $5.29 and its 200-day simple moving average is $6.91.

Trean Insurance Group (NASDAQ:TIGGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Trean Insurance Group had a return on equity of 5.32% and a net margin of 9.32%. During the same period last year, the business posted $0.16 EPS. As a group, analysts anticipate that Trean Insurance Group will post 0.6 earnings per share for the current fiscal year.

In related news, Director Steven B. Lee purchased 5,000 shares of the firm’s stock in a transaction on Thursday, May 19th. The stock was purchased at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the acquisition, the director now directly owns 906,016 shares in the company, valued at $5,662,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders bought 17,400 shares of company stock valued at $74,558. Insiders own 9.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. Zebra Capital Management LLC bought a new position in shares of Trean Insurance Group during the first quarter valued at approximately $174,000. Penn Capital Management Company LLC raised its position in Trean Insurance Group by 19.4% in the first quarter. Penn Capital Management Company LLC now owns 131,656 shares of the company’s stock worth $916,000 after acquiring an additional 21,375 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Trean Insurance Group by 9.6% during the first quarter. Goldman Sachs Group Inc. now owns 32,001 shares of the company’s stock valued at $150,000 after purchasing an additional 2,809 shares during the last quarter. State Street Corp lifted its position in shares of Trean Insurance Group by 2.6% during the 1st quarter. State Street Corp now owns 256,144 shares of the company’s stock valued at $1,201,000 after acquiring an additional 6,563 shares during the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Trean Insurance Group during the 1st quarter worth $214,000. Institutional investors and hedge funds own 87.55% of the company’s stock.

Trean Insurance Group Company Profile (Get Rating)

Trean Insurance Group, Inc underwrites specialty casualty insurance products in the United States. The company underwrites business, predominantly workers' compensation, accident and health, and medical professional liability products. It also offers a variety of services, including issuing carrier, claims administration, and reinsurance brokerage services.

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