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. The company offers its products through programs and managing general agents. Trean Insurance Group, Inc. was founded in 1996 and is based in Wayzata, Minnesota.
IPO Year: 2020
Exchange: NASDAQ
Website: trean.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/31/2022 | $6.50 → $5.50 | Outperform → In-line | Evercore ISI |
| 3/29/2022 | $9.00 → $6.00 | Overweight → Neutral | JP Morgan |
| 1/14/2022 | $18.00 → $14.00 | Market Outperform | JMP Securities |
| 11/11/2021 | $21.00 → $18.00 | Market Outperform | JMP Securities |
| 8/13/2021 | $18.00 → $15.00 | Neutral → Overweight | JP Morgan |
| 8/12/2021 | Outperform → Market Perform | William Blair |
Evercore ISI downgraded Trean Insurance Group from Outperform to In-line and set a new price target of $5.50 from $6.50 previously
JP Morgan downgraded Trean Insurance Group from Overweight to Neutral and set a new price target of $6.00 from $9.00 previously
JMP Securities reiterated coverage of Trean Insurance Group with a rating of Market Outperform and set a new price target of $14.00 from $18.00 previously
JMP Securities reiterated coverage of Trean Insurance Group with a rating of Market Outperform and set a new price target of $18.00 from $21.00 previously
JP Morgan upgraded Trean Insurance Group from Neutral to Overweight and set a new price target of $15.00 from $18.00 previously
William Blair downgraded Trean Insurance Group from Outperform to Market Perform
WAYZATA, Minn., March 10, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, announced today that its Board of Directors has appointed a new independent director, Philip I. Smith, to its Board of Directors, effective immediately. Mr. Smith brings to the Board over 25 years of experience in finance and executive management. He is currently a managing director of Duff & Phelps, an investment banking firm that provides valuation, corporate finance and other services, where he provides mergers and acquisitions advisory services. His appointment increases the size of th
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WAYZATA, Minn., March 09, 2023 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, today reported results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter and Full Year 2022 Highlights Announced definitive merger agreement with affiliates of Altaris, LLC (collectively with its affiliates, "Altaris"), which currently owns approximately 47% of Trean's outstanding common stock. The transaction is expected to close during the first half of 2023, subject to certain closing conditions, including obtaining approval of a majority of the outstanding share
AM Best has commented that the Credit Ratings (ratings) of the members of Benchmark Insurance Group (BIG) and its ultimate parent, Trean Insurance Group, Inc. (Delaware) (Trean Insurance) (NASDAQ:TIG), remain unchanged following an announced merger agreement with affiliates of Altaris, LLC. (Altaris). BIG is comprised of Benchmark Insurance Company (headquartered in Wayzata, MN), Benchmark Specialty Insurance Company (Little Rock, AR), American Liberty Insurance Company (Provo, UT) and 7710 Insurance Company (Summerton, SC). Altaris currently owns approximately 47% of Trean's outstanding common stock. Under the terms of the merger agreement, Altaris will acquire the remaining common stock
Net Income of $7.6 Million and Adjusted Net Income of $5.5 Million Diluted Earnings per Share of $0.15 and Adjusted Diluted Earnings per Share of $0.11 Updates Full Year 2022 Outlook WAYZATA, Minn., Nov. 02, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, today reported results for the third quarter ended September 30, 2022. Third Quarter 2022 Highlights Gross written premiums were $162.2 million, a $15.4 million, or 8.7%, decline compared to the same prior-year period.Net earned premiums were $71.4 million, a $19.4 million, or 37.4%, increase compared
WAYZATA, Minn., Oct. 19, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG), a leading provider of products and services to the specialty insurance market, announced today that it will release its third quarter 2022 results after the market closes on Wednesday, November 2, 2022. A webcast and conference call to discuss the Company's results will be held that day beginning at 5:00 p.m. (Eastern Time). The audio webcast is accessible through the investor relations section of the Company's website at https://investors.trean.com. The dial-in number for the conference call is (877) 407-3982 (toll-free) or (201) 493-6780 (international), conference ID# 13732954. Any person inter
Net Income and Adjusted Net Income of $5.5 Million Diluted and Adjusted Diluted Earnings per Share of $0.11 Provides Third Quarter and Updates Full Year 2022 Outlook WAYZATA, Minn., Aug. 03, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, today reported results for the second quarter ended June 30, 2022. Second Quarter 2022 and Subsequent Highlights Gross written premiums were $154.2 million, a $2.4 million, or 1.5%, decline compared to the same prior-year period.Net earned premiums were $66.0 million, an $18.1 million, or 37.7%, increase compared to t
WAYZATA, Minn. , July 20, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG), a leading provider of products and services to the specialty insurance market, announced today that it will release its second quarter 2022 results after the market closes on Wednesday, August 3, 2022. A webcast and conference call to discuss the Company's results will be held that day beginning at 5:00 p.m. (Eastern Time). The audio webcast is accessible through the investor relations section of the Company's website at https://investors.trean.com. The dial-in number for the conference call is (877) 407-3982 (toll-free) or (201) 493-6780 (international), conference ID# 13731059. Any person inter
Net Income of $12.3 Million, Diluted Earnings per Share of $0.24 Adjusted Net Income of $8.3 Million, Adjusted Diluted Earnings per Share of $0.16 Provides Second Quarter and Updates Full Year 2022 Outlook WAYZATA, Minn., May 04, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, today reported results for the first quarter ended March 31, 2022. First Quarter 2022 Highlights Gross written premiums were $161.4 million, a $14.7 million, or 10.0%, increase compared to the same prior-year period.Net earned premiums were $64.2 million, a $23.0 million, or 56.0%, increa
WAYZATA, Minn., April 20, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG), a leading provider of products and services to the specialty insurance market, announced today that it will release its first quarter 2022 results after the market closes on Wednesday, May 4, 2022. A webcast and conference call to discuss the Company's results will be held that day beginning at 5:00 p.m. (Eastern Time). The audio webcast is accessible through the investor relations section of the Company's website at https://investors.trean.com. The dial-in number for the conference call is (877) 407-3982 (toll-free) or (201) 493-6780 (international), conference ID# 13728756. Any person intereste
Full Year 2021 Net Income of $19.3 Million – 25th Consecutive Profitable Year Commitment to Profitable Growth - Full Year 2021 Gross Written Premiums Grew 31% 57% Growth in Fourth Quarter Net Earned Premiums and 83% Growth for Full Year WAYZATA, Minn., March 09, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, today reported results for the fourth quarter and full year ended December 31, 2021. Fourth Quarter and Full Year 2021 Highlights Gross written premiums were $153.3 million in the fourth quarter, an increase of 14% compared to the same prior-year period. F
WAYZATA, Minn., Feb. 23, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG), a leading provider of products and services to the specialty insurance market, announced today that it will release its fourth quarter and full year 2021 results after the market closes on Wednesday, March 9, 2022. A webcast and conference call to discuss the Company's results will be held that day beginning at 5:00 p.m. (Eastern Time). The audio webcast is accessible through the investor relations section of the Company's website at https://investors.trean.com. The dial-in number for the conference call is (877) 407-3982 (toll-free) or (201) 493-6780 (international), conference ID# 13727381. Any
WAYZATA, Minn. and NEW YORK, April 21, 2023 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, today announced the completion of the acquisition of the Company by funds managed by Altaris, LLC (collectively with its affiliates, "Altaris") for $6.15 per share in cash. The transaction was announced on December 16, 2022 and received approval from stockholders on April 18, 2023. As a result, Trean's common stock ceased trading and will no longer be listed on Nasdaq. "We are thrilled to begin the next chapter of Trean's successful partnership with Altaris, which will continue to enhance our
WAYZATA, Minn. and NEW YORK, April 18, 2023 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, announced that at the Special Meeting of Stockholders (the "Special Meeting") held earlier today, the Company's stockholders approved the Agreement and Plan of Merger entered into by the Company with affiliates of Altaris, LLC (collectively with its affiliates, "Altaris") (the "Merger Agreement") providing for the proposed merger of the Company with an affiliate of funds managed by Altaris (the "Merger"). The proposal to adopt the Merger Agreement and approve the Merger was suppor
WAYZATA, Minn., April 12, 2023 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, would like to remind stockholders that its Special Meeting of Stockholders (the "Special Meeting") to consider and vote on the adoption of the Agreement and Plan of Merger entered into by the Company with affiliates of Altaris, LLC (collectively with its affiliates, "Altaris") (the "Merger Agreement") providing for the proposed merger of the Company with an affiliate of funds managed by Altaris (the "Merger") and the approval of the Merger will be held on April 18, 2023 at 10:00 am Central Time
WAYZATA, Minn., March 09, 2023 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, today reported results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter and Full Year 2022 Highlights Announced definitive merger agreement with affiliates of Altaris, LLC (collectively with its affiliates, "Altaris"), which currently owns approximately 47% of Trean's outstanding common stock. The transaction is expected to close during the first half of 2023, subject to certain closing conditions, including obtaining approval of a majority of the outstanding share
NEW YORK, Dec. 28, 2022 (GLOBE NEWSWIRE) -- Shore Bancshares, Inc. (NASDAQ:SHBI) Lifshitz Law PLLC announces an investigation into possible breach of fiduciary duties in connection with the merger of SHBI and The Community Financial Corporation whereby holders of Community Financial common stock will have the right to receive 2.3287 shares of SHBI common stock. If you are an SHBI investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected]. First Bank (NASDAQ:FRBA) Lifshitz Law PLLC announces an investigation into possible breach of
NEW YORK, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Shore Bancshares, Inc. (NASDAQ:SHBI) Lifshitz Law PLLC announces an investigation into possible breach of fiduciary duties in connection with the merger of SHBI and The Community Financial Corporation whereby holders of Community Financial common stock will have the right to receive 2.3287 shares of SHBI common stock. If you are an SHBI investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at [email protected]. First Bank (NASDAQ:FRBA) Lifshitz Law PLLC announces an investigation into possible breach of
AM Best has commented that the Credit Ratings (ratings) of the members of Benchmark Insurance Group (BIG) and its ultimate parent, Trean Insurance Group, Inc. (Delaware) (Trean Insurance) (NASDAQ:TIG), remain unchanged following an announced merger agreement with affiliates of Altaris, LLC. (Altaris). BIG is comprised of Benchmark Insurance Company (headquartered in Wayzata, MN), Benchmark Specialty Insurance Company (Little Rock, AR), American Liberty Insurance Company (Provo, UT) and 7710 Insurance Company (Summerton, SC). Altaris currently owns approximately 47% of Trean's outstanding common stock. Under the terms of the merger agreement, Altaris will acquire the remaining common stock
Trean Stockholders to Receive $6.15 Per Share in Cash, a Premium of Approximately 97% Company to Continue Growth Plan and Delivering Full Suite of Insurance and Reinsurance Services WAYZATA, Minn. and NEW YORK, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, today announced that it has entered into a definitive merger agreement with affiliates of Altaris, LLC (collectively with its affiliates, "Altaris"), which currently owns approximately 47% of Trean's outstanding common stock. Under the terms of the agreement, Altaris will acquire all of the common stoc
Net Income of $7.6 Million and Adjusted Net Income of $5.5 Million Diluted Earnings per Share of $0.15 and Adjusted Diluted Earnings per Share of $0.11 Updates Full Year 2022 Outlook WAYZATA, Minn., Nov. 02, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, today reported results for the third quarter ended September 30, 2022. Third Quarter 2022 Highlights Gross written premiums were $162.2 million, a $15.4 million, or 8.7%, decline compared to the same prior-year period.Net earned premiums were $71.4 million, a $19.4 million, or 37.4%, increase compared
WAYZATA, Minn., Oct. 19, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG), a leading provider of products and services to the specialty insurance market, announced today that it will release its third quarter 2022 results after the market closes on Wednesday, November 2, 2022. A webcast and conference call to discuss the Company's results will be held that day beginning at 5:00 p.m. (Eastern Time). The audio webcast is accessible through the investor relations section of the Company's website at https://investors.trean.com. The dial-in number for the conference call is (877) 407-3982 (toll-free) or (201) 493-6780 (international), conference ID# 13732954. Any person inter
Trean Insurance Group (NASDAQ:TIG) reported quarterly losses of $(0.22) per share. This is a 650 percent decrease over earnings of $0.04 per share from the same period last year. The company reported $173.53 million in sales this quarter. This is a 13.23 percent increase over sales of $153.26 million the same period last year.
Upgrades For Casa Systems Inc (NASDAQ:CASA), Northland Capital Markets upgraded the previous rating of Market Perform to Outperform. Casa Systems earned $0.29 in the third quarter, compared to $0.05 in the year-ago quarter. The current stock performance of Casa Systems shows a 52-week-high of $7.18 and a 52-week-low of $2.35. Moreover, at the end of the last trading period, the closing price was at $3.33. UBS upgraded the previous rating for Millicom International Cellular SA (NASDAQ:TIGO) from Neutral to Buy. In the third quarter, Millicom Intl Cellular showed an EPS of $0.18, compared to $0.05 from the year-ago quarter. The stock has a 52-week-high of $29.66 and a 52-week-low of $10.22.
JMP Securities analyst Matthew Carletti downgrades Trean Insurance Group (NASDAQ:TIG) from Market Outperform to Market Perform.
The most overbought stocks in the financial sector presents an opportunity to go short on these overvalued companies. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70. Here’s the latest list of major overbought players in this sector. Jiayin Group Inc (NASDAQ:JFIN) Jiayin Group, during November, posted upbeat quarterly results. The company’s stock has a 52-week high of $3.60 . RSI Value: 84.52 JFIN Price Act
The most overbought stocks in the financial sector presents an opportunity to go short on these overvalued companies. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70. Here’s the latest list of major overbought players in this sector. Banco Macro S.A. (NYSE:BMA) The company’s stock gained around 12% over the past month. The company’s stock has a 52-week high of $18.05 . RSI Value: 72.46 BMA Price Action: Sh
Gainers Allarity Therapeutics, Inc. (NASDAQ:ALLR) gained 240% to $0.90. Allarity Therapeutics, last month, posted a Q3 loss of $0.68 per share. Maxar Technologies Inc. (NYSE:MAXR) shares jumped 120.2% to $50.86 after the company announced it will be acquired by Advent International for $6.4 billion. Trean Insurance Group, Inc. (NASDAQ:TIG) gained 92.2% to $6.00 after the company announced a definitive agreement to be acquired by Altaris Capital Partners for $6.15 per share in cash. Dermata Therapeutics, Inc. (NASDAQ:DRMA) jumped 82% to $0.3549. Dermata Therapeutics recently announced topline results from its DMT310 Phase 2 trial, which did not meet primary endpoints. BeyondSpring In
U.S. stocks traded lower, with the Dow Jones dropping over 400 points on Friday. Here are some big stocks recording gains in today’s session. Maxar Technologies Inc. (NYSE:MAXR) shares jumped 120.2% to $50.86 after the company announced it will be acquired by Advent International for $6.4 billion. Trean Insurance Group, Inc. (NASDAQ:TIG) gained 92.2% to $6.00 after the company announced a definitive agreement to be acquired by Altaris Capital Partners for $6.15 per share in cash. Exact Sciences Corporation (NASDAQ:EXAS) gained 20.5% to $53.75 after competitor Guardant Health reported results from a study of its colorectal cancer detection blood test. TAL Education Group (NYSE:TAL) ju
WAYZATA, Minn. and NEW YORK, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, today announced that it has entered into a definitive merger agreement with affiliates of Altaris, LLC (collectively with its affiliates, "Altaris"), which currently owns approximately 47% of Trean's outstanding common stock. Under the terms of the agreement, Altaris will acquire all of the common stock that it does not currently own for $6.15 in cash per share, representing a 97% premium to Trean's closing price on December 15, 2022, the last trading day prior to this announcement an