Octave Specialty Group (NYSE:OSG) Research Coverage Started at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods began coverage on shares of Octave Specialty Group (NYSE:OSG) in a research note issued to investors on Friday, MarketBeat reports. The brokerage issued an outperform rating and a $8.00 price target on the stock.

A number of other brokerages have also recently weighed in on OSG. Weiss Ratings upgraded shares of Octave Specialty Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Zacks Research lowered shares of Octave Specialty Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Two investment analysts have 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 MarketBeat.com, Octave Specialty Group presently has an average rating of “Hold” and a consensus target price of $11.50.

Octave Specialty Group Stock Down 0.6%

NYSE:OSG opened at $4.61 on Friday. Octave Specialty Group has a 52 week low of $3.88 and a 52 week high of $10.38. The company has a fifty day simple moving average of $5.55. The stock has a market capitalization of $207.68 million, a P/E ratio of -1.26 and a beta of 0.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.92.

Octave Specialty Group (NYSE:OSG) last issued its quarterly earnings data 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). Octave Specialty Group had a positive return on equity of 0.44% and a negative net margin of 51.10%.The business had revenue of $83.00 million for the quarter, compared to analyst estimates of $22.79 million. Sell-side analysts anticipate that Octave Specialty Group will post 0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Octave Specialty Group

Several institutional investors and hedge funds have recently modified their holdings of OSG. Parallel Advisors LLC boosted its holdings in Octave Specialty Group by 4,186.8% during the 1st quarter. Parallel Advisors LLC now owns 6,473 shares of the company’s stock valued at $30,000 after acquiring an additional 6,322 shares during the period. Federated Hermes Inc. acquired a new position in Octave Specialty Group in the 4th quarter valued at about $34,000. Russell Investments Group Ltd. grew its position in Octave Specialty Group by 613.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,916 shares of the company’s stock valued at $41,000 after acquiring an additional 4,227 shares in the last quarter. CWM LLC purchased a new stake in Octave Specialty Group during the fourth quarter worth about $44,000. Finally, Versant Capital Management Inc purchased a new stake in Octave Specialty Group during the second quarter worth about $52,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

About Octave Specialty Group

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.