StockNews.com Begins Coverage on Trean Insurance Group (NASDAQ:TIG)

Posted by on May 5th, 2023

Investment analysts at StockNews.com started coverage on shares of Trean Insurance Group (NASDAQ:TIG – Get Rating) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the stock.

Separately, JMP Securities downgraded shares of Trean Insurance Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 17th.

Trean Insurance Group Price Performance

Trean Insurance Group has a 1 year low of $2.12 and a 1 year high of $7.34. The business’s 50 day moving average price is $6.12 and its 200 day moving average price is $5.06. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $315.64 million, a PE ratio of -4.81 and a beta of -0.35.

Trean Insurance Group (NASDAQ:TIG – Get Rating) last issued its quarterly earnings results on Thursday, March 9th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.29). Trean Insurance Group had a positive return on equity of 2.04% and a negative net margin of 21.75%. The company had revenue of $89.11 million for the quarter, compared to analysts’ expectations of $69.49 million. On average, equities analysts anticipate that Trean Insurance Group will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Trean Insurance Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its stake in Trean Insurance Group by 254.4% during the fourth quarter. Millennium Management LLC now owns 1,411,934 shares of the company’s stock valued at $8,472,000 after acquiring an additional 1,013,479 shares in the last quarter. Gabelli Funds LLC bought a new stake in shares of Trean Insurance Group in the 4th quarter worth about $1,792,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Trean Insurance Group in the 4th quarter worth about $1,680,000. Federated Hermes Inc. bought a new stake in shares of Trean Insurance Group in the 3rd quarter worth about $949,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Trean Insurance Group by 2,132.3% in the 4th quarter. JPMorgan Chase & Co. now owns 285,487 shares of the company’s stock worth $1,714,000 after acquiring an additional 272,698 shares during the last quarter. Hedge funds and other institutional investors own 28.13% of the company’s stock.

Trean Insurance Group Company Profile

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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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