Zimmer Partners LP lessened its stake in Trean Insurance Group, Inc. (NASDAQ:TIG) by 11.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 721,948 shares of the company’s stock after selling 92,257 shares during the quarter. Zimmer Partners LP owned about 1.41% of Trean Insurance Group worth $11,659,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of TIG. Citigroup Inc. grew its position in Trean Insurance Group by 277.3% in the fourth quarter. Citigroup Inc. now owns 2,181 shares of the company’s stock worth $29,000 after acquiring an additional 1,603 shares during the period. UBS Group AG boosted its position in shares of Trean Insurance Group by 61.5% during the first quarter. UBS Group AG now owns 3,814 shares of the company’s stock worth $62,000 after buying an additional 1,453 shares during the period. Strs Ohio boosted its position in shares of Trean Insurance Group by 126.7% during the first quarter. Strs Ohio now owns 6,800 shares of the company’s stock worth $109,000 after buying an additional 3,800 shares during the period. Rhumbline Advisers purchased a new position in shares of Trean Insurance Group during the fourth quarter worth $168,000. Finally, Sei Investments Co. boosted its position in shares of Trean Insurance Group by 17.0% during the first quarter. Sei Investments Co. now owns 11,838 shares of the company’s stock worth $191,000 after buying an additional 1,722 shares during the period. 25.82% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Andrew O’brien sold 616,438 shares of the firm’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $13.30, for a total transaction of $8,198,625.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Altaris Partners, Llc sold 4,250,498 shares of the firm’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $13.30, for a total value of $56,531,623.40. Following the transaction, the director now directly owns 92,083 shares in the company, valued at approximately $1,224,703.90. The disclosure for this sale can be found here. 10.54% of the stock is currently owned by insiders.
Trean Insurance Group stock traded up $0.08 during midday trading on Thursday, reaching $14.52. The company’s stock had a trading volume of 61,092 shares, compared to its average volume of 103,233. Trean Insurance Group, Inc. has a fifty-two week low of $9.90 and a fifty-two week high of $19.57. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s 50-day moving average is $15.42.
Trean Insurance Group (NASDAQ:TIG) last posted its quarterly earnings results on Wednesday, May 12th. The company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. Trean Insurance Group had a return on equity of 9.80% and a net margin of 40.69%. The company had revenue of $47.38 million for the quarter, compared to analysts’ expectations of $49.52 million. On average, research analysts expect that Trean Insurance Group, Inc. will post 0.92 earnings per share for the current fiscal year.
Trean Insurance Group Profile
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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