92,040 Shares in Octave Specialty Group, Inc. $OSG Bought by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in shares of Octave Specialty Group, Inc. (NYSE:OSG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 92,040 shares of the company’s stock, valued at approximately $713,000. Hsbc Holdings PLC owned 0.20% of Octave Specialty Group as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Western Standard LLC purchased a new stake in shares of Octave Specialty Group during the 4th quarter worth about $19,486,000. Wolf Hill Capital Management LP purchased a new position in shares of Octave Specialty Group in the 4th quarter valued at about $14,696,000. Dimensional Fund Advisors LP purchased a new position in shares of Octave Specialty Group in the 4th quarter valued at about $13,114,000. Gendell Jeffrey L acquired a new position in Octave Specialty Group in the 4th quarter worth about $12,210,000. Finally, Geode Capital Management LLC acquired a new position in Octave Specialty Group in the 4th quarter worth about $7,973,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Octave Specialty Group Stock Down 5.0%

OSG stock opened at $5.82 on Thursday. The stock has a market capitalization of $261.76 million, a P/E ratio of -1.20 and a beta of 0.83. The firm has a 50-day simple moving average of $5.81 and a 200-day simple moving average of $5.51. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Octave Specialty Group, Inc. has a 52 week low of $3.88 and a 52 week high of $10.38.

Octave Specialty Group (NYSE:OSG) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.35. Octave Specialty Group had a negative net margin of 75.91% and a negative return on equity of 0.55%. The firm had revenue of $104.17 million for the quarter, compared to analyst estimates of $17.77 million. Equities analysts forecast that Octave Specialty Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OSG has been the topic of several research analyst reports. Zacks Research lowered Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings raised Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Octave Specialty Group presently has an average rating of “Hold” and a consensus target price of $15.00.

Octave Specialty Group Company Profile

Ambac Financial Group, Inc (NYSE:AMBC) is a specialized financial services holding company headquartered in New York City. Through its principal subsidiary, Ambac Assurance Corporation, the company provides financial guarantee insurance and surety bonds designed to enhance the credit quality of public finance and structured finance transactions. Ambac’s offerings are tailored to municipal issuers, financial institutions and corporate borrowers, supporting infrastructure projects, energy and transportation initiatives, as well as asset-backed securities.

Ambac’s core business activities center on credit enhancement and risk-transfer solutions.