Federated Hermes Inc. Makes New Investment in Trean Insurance Group, Inc. (NASDAQ:TIG)

Federated Hermes Inc. acquired a new position in Trean Insurance Group, Inc. (NASDAQ:TIG – Get Rating) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 279,048 shares of the company’s stock, valued at approximately $949,000. Federated Hermes Inc. owned 0.54% of Trean Insurance Group as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of 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. UBS Group AG grew its stake in Trean Insurance Group by 26.7% during 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 in the last quarter. Bank of Montreal Can purchased a new stake in Trean Insurance Group during the 2nd quarter valued at about $67,000. JPMorgan Chase & Co. grew its stake in Trean Insurance Group by 45.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,166 shares of the company’s stock valued at $76,000 after acquiring an additional 3,809 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Trean Insurance Group during the 2nd quarter valued at about $76,000. Institutional investors and hedge funds own 28.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TIG. JMP Securities cut shares of Trean Insurance Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 17th. StockNews.com initiated coverage on shares of Trean Insurance Group in a research note on Friday. They set a “hold” rating for the company.

Trean Insurance Group Stock Performance

NASDAQ:TIG opened at $6.07 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $310.91 million, a P/E ratio of -4.74 and a beta of -0.35. The company has a 50 day moving average price of $6.07 and a 200 day moving average price of $4.50. Trean Insurance Group, Inc. has a fifty-two week low of $2.12 and a fifty-two week high of $7.34.

Trean Insurance Group (NASDAQ:TIG – Get Rating) last released its earnings results on Thursday, March 9th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.29). The business had revenue of $89.11 million for the quarter, compared to analyst estimates of $69.49 million. Trean Insurance Group had a positive return on equity of 1.92% and a negative net margin of 21.75%. Equities research analysts forecast that Trean Insurance Group, Inc. will post 0.53 EPS for the current year.

Trean Insurance Group 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.