NEW YORK, August 3, 2016 /PRNewswire/ --
The global Property and Casualty Insurance space has evolved so much that it is now facing new and significant challenges such as low interest rates and a capital glut. Stock-Callers.com looks at how these factors have affected the following equities in recent days: The Hartford Financial Services Group Inc. (NYSE: HIG), MBIA Inc. (NYSE: MBI), WMIH Corp. (NASDAQ: WMIH), and AXIS Capital Holdings Ltd (NYSE: AXS). Learn more about these stocks by downloading their free report at:
The Hartford Financial Services Group
Hartford, Connecticut headquartered The Hartford Financial Services Group Inc.'s stock finished Tuesday's session 0.27% higher at $40.12. A total volume of 7.45 million shares was traded, which was above their three months average volume of 2.62 million shares. The Company's shares are trading 8.22% below their 200-day moving average. Additionally, shares of Hartford Financial Services Group, which through its subsidiaries, provide insurance and financial services to individual and business customers in the United States, have a Relative Strength Index (RSI) of 30.75.
On July 29th, 2016, research firm MKM Partners reiterated its 'Buy' rating on the Company's stock with a decrease of the target price to $50 a share from $55 a share.
On August 1st, 2016, The Hartford Financial Services Group, operating through its subsidiaries under the brand name, The Hartford has completed the acquisition of Maxum Specialty Insurance Group for $168 million in cash. The transaction closed on July 29th, 2016. Maxum will maintain its brand and limited wholesale distribution model and will be managed as a separate unit within The Hartford's Small Commercial business. The free research report on HIG is available at:
On Tuesday, shares in Purchase, New York headquartered MBIA Inc. recorded a trading volume of 1.47 million shares. The stock ended the session 2.18% lower at $8.07. The Company's shares have advanced 15.29% in the last one month, 5.35% in the previous three months, and 24.54% since the start of this year. The stock is trading 11.14% above its 50-day moving average and 11.61% above its 200-day moving average. Moreover, shares of MBIA, which provides financial guarantee insurance services to public finance markets in the United States and internationally, have an RSI of 60.33. The complimentary report on MBI can be downloaded at:
Shares in Seattle, Washington headquartered WMIH Corp. closed the day 2.04% lower at $2.40 and with a total volume of 481,341 shares traded. The stock has gained 7.14% in the last month and 6.19% over the previous three months. The Company's shares are trading 5.26% above their 50-day moving average and 1.88% above their 200-day moving average. Additionally, shares of WMIH Corp., which through its subsidiary, WM Mortgage Reinsurance Company, Inc., engages in reinsurance business with respect to mortgage insurance in runoff mode, have an RSI of 59.33.
On June 28th, 2016, WMIH Corp. announced that it has been added to the Russell 2000® Index. Visit us today and download our complete research report on WMIH for free at:
AXIS Capital Holdings
At the close, shares in Pembroke, Bermuda headquartered AXIS Capital Holdings Ltd ended the day at $55.25, which was a slight drop of 0.25%. The stock recorded a trading volume of 618,346 shares, which was above its three months average volume of 522,130 shares. The Company's shares have advanced 1.45% in the last one month and 3.24% in the previous three months. The stock is trading above its 50-day and 200-day moving averages by 2.50% and 2.49%, respectively. Furthermore, shares of AXIS Capital Holdings, which together with its subsidiaries, provide specialty lines insurance and treaty reinsurance products worldwide, have an RSI of 58.67.
On July 27th, 2016, AXIS Capital Holdings reported net income available to common shareholders of $119 million, or $1.29 per diluted common share, for Q2 2016 compared to $63 million, or $0.63 per diluted common share, for Q2 2015. The company stated that operating income was $47 million, or $0.51 per diluted common share, for Q2 2016 compared to $94 million, or $0.93 per diluted common share, for Q2 2015. Share repurchases during the quarter totaled $127 million and $263 million for the year. Get free access to your technical report on AXS at:
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