Bank of New York Mellon Corp reduced its position in shares of OneBeacon Insurance Group, Ltd. (NYSE:OB) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,234 shares of the financial services provider’s stock after selling 1,233 shares during the period. Bank of New York Mellon Corp owned approximately 0.52% of OneBeacon Insurance Group worth $2,173,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in OB. Schwab Charles Investment Management Inc. increased its stake in OneBeacon Insurance Group by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 92,977 shares of the financial services provider’s stock worth $1,695,000 after purchasing an additional 494 shares in the last quarter. Bank of America Corp DE increased its stake in OneBeacon Insurance Group by 0.4% in the 1st quarter. Bank of America Corp DE now owns 155,586 shares of the financial services provider’s stock worth $2,490,000 after purchasing an additional 618 shares in the last quarter. American International Group Inc. increased its stake in OneBeacon Insurance Group by 7.1% in the 1st quarter. American International Group Inc. now owns 12,288 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 819 shares in the last quarter. Geode Capital Management LLC increased its stake in OneBeacon Insurance Group by 3.6% in the 1st quarter. Geode Capital Management LLC now owns 195,253 shares of the financial services provider’s stock worth $3,124,000 after purchasing an additional 6,784 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in OneBeacon Insurance Group by 11.4% in the 1st quarter. Teachers Advisors LLC now owns 89,546 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 9,185 shares in the last quarter. 17.26% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on OB shares. BidaskClub raised OneBeacon Insurance Group from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Zacks Investment Research cut OneBeacon Insurance Group from a “hold” rating to a “sell” rating in a research note on Friday, August 25th.
OneBeacon Insurance Group (NYSE:OB) last released its earnings results on Friday, August 4th. The financial services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.24). OneBeacon Insurance Group had a net margin of 0.10% and a negative return on equity of 0.12%. The company had revenue of $294.00 million during the quarter, compared to analyst estimates of $295.10 million.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Friday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.64%. The ex-dividend date was Thursday, September 7th. OneBeacon Insurance Group’s payout ratio is 115.07%.
In other OneBeacon Insurance Group news, Director Patrick A. Thiele sold 20,146 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $18.16, for a total value of $365,851.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 76.60% of the company’s stock.
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OneBeacon Insurance Group Company Profile
OneBeacon Insurance Group, Ltd. (OneBeacon) is a specialty property and casualty insurance writer that offers a range of insurance products in the United States. The Company’s segments include Specialty Products, Specialty Industries, and Investing, Financing and Corporate. As of December 31, 2016, the Specialty Products segment consisted of 10 underwriting operating segments representing an aggregation based on those that offer products, coverages and services to customers across the United States.
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