FBR Capital Reiterates an 'Outperform' on Tower Group (TWGP); 1Q11 EPS Beat Despite Catastrophes
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Price: $2.23 --0%
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 3 | New: 2
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 3 | New: 2
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FBR Capital reiterates an 'Outperform' on Tower Group (NASDAQ: TWGP), lowers PT by $1 to $33.
FBR analyst says, "The significant premium volume growth, combined with better underwriting ratios, should lead to significant improvement in underwriting income for Tower. The company’s investment portfolio should also increase in size over time, not only from acquisitions, but also from strong cash flow generated from top-line growth. With higher yields from a changing asset mix, investment income should undoubtedly improve. In addition, the company's opportunistic entry into severity-exposed lines should be additive to returns going forward."
For more ratings news on Tower Group click here and for the rating history of Tower Group click here.
Shares of Tower Group closed at $22.30 yesterday.
FBR analyst says, "The significant premium volume growth, combined with better underwriting ratios, should lead to significant improvement in underwriting income for Tower. The company’s investment portfolio should also increase in size over time, not only from acquisitions, but also from strong cash flow generated from top-line growth. With higher yields from a changing asset mix, investment income should undoubtedly improve. In addition, the company's opportunistic entry into severity-exposed lines should be additive to returns going forward."
For more ratings news on Tower Group click here and for the rating history of Tower Group click here.
Shares of Tower Group closed at $22.30 yesterday.
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