Trean Insurance Group, Inc. (NASDAQ:TIG – Get Rating) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 508,500 shares, an increase of 82.6% from the December 31st total of 278,500 shares. Based on an average daily volume of 402,800 shares, the days-to-cover ratio is presently 1.3 days. Currently, 2.8% of the shares of the company are sold short.
Wall Street Analysts Forecast Growth
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Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Trean Insurance Group from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Thursday, November 3rd. StockNews.com raised shares of Trean Insurance Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 18th. Finally, JMP Securities cut shares of Trean Insurance Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 17th.
Institutional Investors Weigh In On Trean Insurance Group
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in Trean Insurance Group by 4,528.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,099 shares of the company’s stock worth $27,000 after purchasing an additional 7,924 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in Trean Insurance Group during the 2nd quarter worth $27,000. FNY Investment Advisers LLC bought a new stake in shares of Trean Insurance Group during the 4th quarter worth $33,000. Public Employees Retirement System of Ohio bought a new stake in Trean Insurance Group in the 3rd quarter valued at about $36,000. Finally, UBS Group AG raised its stake in Trean Insurance Group by 26.7% in the 1st quarter. UBS Group AG now owns 8,250 shares of the company’s stock valued at $39,000 after acquiring an additional 1,738 shares during the period. 28.13% of the stock is owned by institutional investors.
Trean Insurance Group Stock Up 0.2 %
Trean Insurance Group stock opened at $6.06 on Friday. The firm has a market capitalization of $310.39 million, a PE ratio of 11.63 and a beta of -0.38. The company’s 50-day moving average is $4.71 and its 200-day moving average is $4.29. Trean Insurance Group has a fifty-two week low of $2.12 and a fifty-two week high of $8.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.72 and a quick ratio of 0.72.
Trean Insurance Group (NASDAQ:TIG – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. Trean Insurance Group had a return on equity of 5.17% and a net margin of 9.67%. The firm had revenue of $76.47 million during the quarter, compared to analysts’ expectations of $68.40 million. Sell-side analysts anticipate that Trean Insurance Group will post 0.44 earnings per share for the current year.
About Trean Insurance Group
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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