OneBeacon Insurance Group, Ltd. (OB) Lifted to Hold at BidaskClub

OneBeacon Insurance Group, Ltd. (NYSE:OB) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.

Separately, TheStreet raised OneBeacon Insurance Group from a “c+” rating to a “b-” rating in a research note on Wednesday, April 26th.

Shares of OneBeacon Insurance Group (NYSE OB) traded down 0.16% during midday trading on Friday, reaching $18.16. The company had a trading volume of 31,515 shares. The stock has a market capitalization of $1.72 billion, a PE ratio of 25.26 and a beta of 0.57. The company’s 50-day moving average is $18.23 and its 200-day moving average is $17.10. OneBeacon Insurance Group has a 1-year low of $13.63 and a 1-year high of $18.48.

OneBeacon Insurance Group (NYSE:OB) last posted its earnings results on Friday, August 4th. The financial services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.24. OneBeacon Insurance Group had a net margin of 5.88% and a return on equity of 5.17%. The firm had revenue of $294 million during the quarter, compared to the consensus estimate of $295.10 million. On average, equities research analysts forecast that OneBeacon Insurance Group will post $0.53 EPS for the current year.

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In related news, Director Lowndes Andrew Smith sold 10,000 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $18.28, for a total transaction of $182,800.00. Following the completion of the sale, the director now owns 24,664 shares in the company, valued at $450,857.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick A. Thiele sold 20,146 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $18.16, for a total value of $365,851.36. The disclosure for this sale can be found here. Insiders have sold 84,146 shares of company stock valued at $1,534,891 in the last quarter. 76.60% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in OB. PNC Financial Services Group Inc. boosted its position in OneBeacon Insurance Group by 0.3% in the second quarter. PNC Financial Services Group Inc. now owns 200,702 shares of the financial services provider’s stock valued at $3,659,000 after buying an additional 649 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in OneBeacon Insurance Group during the second quarter valued at $2,174,000. JPMorgan Chase & Co. boosted its position in OneBeacon Insurance Group by 15.1% in the second quarter. JPMorgan Chase & Co. now owns 120,109 shares of the financial services provider’s stock valued at $2,190,000 after buying an additional 15,712 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in OneBeacon Insurance Group during the second quarter valued at $2,555,000. Finally, Victory Capital Management Inc. boosted its position in OneBeacon Insurance Group by 8.1% in the second quarter. Victory Capital Management Inc. now owns 46,201 shares of the financial services provider’s stock valued at $842,000 after buying an additional 3,452 shares in the last quarter. Hedge funds and other institutional investors own 17.84% of the company’s stock.

OneBeacon Insurance Group Company Profile

OneBeacon Insurance Group, Ltd. (OneBeacon) is a specialty property and casualty insurance writer that offers a range of insurance products in the United States. The Company’s segments include Specialty Products, Specialty Industries, and Investing, Financing and Corporate. As of December 31, 2016, the Specialty Products segment consisted of 10 underwriting operating segments representing an aggregation based on those that offer products, coverages and services to customers across the United States.

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