Octave Specialty Group, Inc. (NYSE:OSG) Stock Has Average Target Price of $11.50

Shares of Octave Specialty Group, Inc. (NYSE:OSG) have received a consensus rating of “Hold” from the five ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $11.50.

OSG has been the topic of a number of research analyst reports. Zacks Research lowered shares of Octave Specialty Group from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Keefe, Bruyette & Woods began coverage on shares of Octave Specialty Group in a research note on Friday, August 28th. They issued an “outperform” rating and a $8.00 target price for the company. Finally, Weiss Ratings lowered shares of Octave Specialty Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OSG. RIHO Partners LLC acquired a new position in Octave Specialty Group during the 1st quarter worth $2,542,000. Renaissance Technologies LLC increased its stake in shares of Octave Specialty Group by 805.2% in the 1st quarter. Renaissance Technologies LLC now owns 227,726 shares of the company’s stock valued at $1,059,000 after buying an additional 202,568 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Octave Specialty Group in the 2nd quarter valued at $842,000. Lone Peak Global Investors LLC bought a new stake in shares of Octave Specialty Group during the second quarter worth $672,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Octave Specialty Group during the fourth quarter worth $713,000. Institutional investors own 80.92% of the company’s stock.

Octave Specialty Group Price Performance

Shares of NYSE:OSG traded up $0.06 during midday trading on Friday, reaching $4.66. The company’s stock had a trading volume of 358,106 shares, compared to its average volume of 526,934. Octave Specialty Group has a fifty-two week low of $3.88 and a fifty-two week high of $10.38. The company has a market capitalization of $209.71 million, a P/E ratio of -1.28 and a beta of 0.87. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.92. The business’s fifty day simple moving average is $4.59 and its 200-day simple moving average is $5.13.

Octave Specialty Group (NYSE:OSG) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The business had revenue of $83.00 million during the quarter, compared to the consensus estimate of $22.79 million. Octave Specialty Group had a negative net margin of 51.10% and a positive return on equity of 0.44%. As a group, equities research analysts expect that Octave Specialty Group will post 0.19 EPS for the current fiscal year.

Octave Specialty Group Company Profile

Octave Specialty Group, Inc is a specialty insurance platform that operates in the insurance distribution and underwriting market. The company works with insurance brokers, carriers and other industry partners to provide specialized coverage and risk-management solutions for businesses with complex or nonstandard insurance needs.

Its activities may include specialty brokerage, program management and other forms of insurance-related underwriting and placement services. These services are generally designed for risks that may require industry-specific expertise or customized coverage rather than standard commercial insurance products.

Publicly available information about Octave Specialty Group, including its specific product portfolio, operating subsidiaries, geographic footprint and leadership team, is limited.