Trean Insurance Group (NASDAQ:TIG) Trading Down 4%

Trean Insurance Group, Inc. (NASDAQ:TIG)’s stock price dropped 4% during mid-day trading on Wednesday . The company traded as low as $15.47 and last traded at $15.51. Approximately 5,532 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 99,660 shares. The stock had previously closed at $16.15.

Separately, Zacks Investment Research cut shares of Trean Insurance Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $19.25.

The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average price is $16.62. The stock has a market cap of $773.88 million and a P/E ratio of 20.45.

Trean Insurance Group (NASDAQ:TIG) last released its quarterly earnings results on Wednesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. Trean Insurance Group had a net margin of 40.69% and a return on equity of 9.80%. Equities analysts anticipate that Trean Insurance Group, Inc. will post 0.92 EPS for the current year.

In other news, Director Altaris Partners, Llc sold 4,250,498 shares of the company’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $13.30, for a total transaction of $56,531,623.40. Following the completion of the transaction, the director now owns 92,083 shares of the company’s stock, valued at $1,224,703.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew O’brien sold 616,438 shares of the company’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $13.30, for a total transaction of $8,198,625.40. The disclosure for this sale can be found here. 10.54% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. raised its position in shares of Trean Insurance Group by 12.0% during the fourth quarter. Alliancebernstein L.P. now owns 1,981,320 shares of the company’s stock valued at $25,955,000 after buying an additional 212,744 shares during the last quarter. Schroder Investment Management Group raised its position in Trean Insurance Group by 19.4% in the first quarter. Schroder Investment Management Group now owns 1,164,590 shares of the company’s stock worth $18,808,000 after purchasing an additional 189,160 shares in the last quarter. Blair William & Co. IL raised its position in Trean Insurance Group by 315.0% in the first quarter. Blair William & Co. IL now owns 895,705 shares of the company’s stock worth $14,466,000 after purchasing an additional 679,888 shares in the last quarter. BlackRock Inc. raised its position in Trean Insurance Group by 11.5% in the first quarter. BlackRock Inc. now owns 671,640 shares of the company’s stock worth $10,848,000 after purchasing an additional 69,074 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Trean Insurance Group by 6.2% in the first quarter. Principal Financial Group Inc. now owns 560,826 shares of the company’s stock worth $9,058,000 after purchasing an additional 32,600 shares in the last quarter. 23.54% of the stock is owned by institutional investors and hedge funds.

About Trean Insurance Group (NASDAQ:TIG)

Trean Insurance Group, Inc provides products and services to the specialty insurance market in the United States. The company underwrites specialty casualty insurance products both through its program partners and its own managing general agencies. It also offers workers' compensation; other liability insurance products, such as admitted general liability and construction defect products; accident and health; and other insurance products.

Read More: Net Income

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