Confluence Investment Management LLC reduced its stake in OneBeacon Insurance Group Ltd. (NYSE:OB) by 70.4% during the second quarter, Holdings Channel reports. The institutional investor owned 145,622 shares of the company’s stock after selling 345,653 shares during the period. Confluence Investment Management LLC’s holdings in OneBeacon Insurance Group were worth $2,010,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Eqis Capital Management Inc. raised its position in shares of OneBeacon Insurance Group by 2.8% in the second quarter. Eqis Capital Management Inc. now owns 37,571 shares of the company’s stock valued at $518,000 after buying an additional 1,006 shares during the last quarter. Royal Bank of Canada raised its position in shares of OneBeacon Insurance Group by 4.9% in the first quarter. Royal Bank of Canada now owns 59,597 shares of the company’s stock valued at $759,000 after buying an additional 2,791 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of OneBeacon Insurance Group by 68.4% in the first quarter. Renaissance Technologies LLC now owns 233,600 shares of the company’s stock worth $2,974,000 after buying an additional 94,898 shares in the last quarter. Bogle Investment Management L P DE bought a new position in shares of OneBeacon Insurance Group during the first quarter worth approximately $526,000. Finally, Geode Capital Management LLC raised its position in shares of OneBeacon Insurance Group by 5.1% in the first quarter. Geode Capital Management LLC now owns 150,654 shares of the company’s stock worth $1,917,000 after buying an additional 7,246 shares in the last quarter. 17.73% of the stock is owned by hedge funds and other institutional investors.
Shares of OneBeacon Insurance Group Ltd. (NYSE:OB) traded up 0.76% on Wednesday, hitting $14.55. The stock had a trading volume of 42,544 shares. OneBeacon Insurance Group Ltd. has a one year low of $11.68 and a one year high of $14.95. The stock has a market capitalization of $1.37 billion, a PE ratio of 17.28 and a beta of 0.59. The firm’s 50 day moving average is $14.15 and its 200-day moving average is $13.44.
OneBeacon Insurance Group (NYSE:OB) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.05. OneBeacon Insurance Group had a net margin of 6.78% and a return on equity of 7.56%. Equities research analysts expect that OneBeacon Insurance Group Ltd. will post $0.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Friday, September 9th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $0.84 dividend on an annualized basis and a yield of 5.77%. OneBeacon Insurance Group’s payout ratio is 98.82%.
Separately, Zacks Investment Research raised OneBeacon Insurance Group from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Thursday, July 14th.
About OneBeacon Insurance Group
OneBeacon Insurance Group, Ltd., through its subsidiaries, is a property and casualty insurance writer that offers a range of insurance products in the United States primarily through independent agencies, regional and national brokers, wholesalers and managing general agencies. The Company’s segments include Specialty Products, Specialty Industries, and Investing, Financing and Corporate.
Want to see what other hedge funds are holding OB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OneBeacon Insurance Group Ltd. (NYSE:OB).
Receive News & Ratings for OneBeacon Insurance Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OneBeacon Insurance Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.