Universal Beteiligungs und Servicegesellschaft mbH has significantly increased its investment in White Mountains Insurance Group, Ltd. (NYSE: WTM) by 43.8% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), the fund now owns 230 shares of the insurance provider after acquiring an additional 70 shares during this period. The total value of Universal’s holdings in White Mountains Insurance Group stands at approximately $413,000.
Several other institutional investors have also adjusted their stakes in White Mountains Insurance Group, reflecting a broader interest in the company. Boston Partners increased its investment by 4.6%, bringing its total to 89,170 shares, valued at $160.07 million after purchasing an extra 3,934 shares in the same quarter. Similarly, Cooke & Bieler LP expanded its position by 40.5%, now holding 76,781 shares valued at $137.88 million after acquiring 22,129 shares.
Fiduciary Management Inc. WI raised its stake in White Mountains Insurance Group by an impressive 46.2% in the first quarter, now owning 71,795 shares worth $138.26 million. T. Rowe Price Investment Management Inc. also increased its holdings by 8.2%, with 62,466 shares valued at $120.30 million. Additionally, Geode Capital Management LLC reported a 0.8% increase, now holding 42,529 shares worth $76.38 million. Collectively, institutional investors own 88.65% of White Mountains Insurance Group’s stock.
Analyst Ratings and Stock Performance
In a separate development, Weiss Ratings reaffirmed a “hold (c)” rating on White Mountains Insurance Group shares in a research note released on November 6, 2023. Currently, one equity research analyst has issued a “Hold” rating, and according to data from MarketBeat.com, the stock maintains a consensus rating of “Hold”.
On the same day, White Mountains Insurance Group reported its quarterly earnings, showcasing a strong performance. The company achieved an earnings per share (EPS) of $72.21, surpassing analysts’ expectations of $57.00 by $15.21. During the quarter, the firm generated revenue of $864.20 million with a net margin of 8.34% and a return on equity of 9.17%.
The stock opened at $2,024.25 on Friday, reflecting the company’s stability in a fluctuating market. White Mountains Insurance Group has a 1-year low of $1,648.00 and a 1-year high of $2,042.89. The firm’s market capitalization stands at $5.15 billion, with a price-to-earnings (PE) ratio of 25.35 and a beta of 0.37.
Company Overview
White Mountains Insurance Group, Ltd. operates through several subsidiaries, providing insurance and other financial services across the United States. The company’s segments include HG Global/BAM, Ark/WM Outrigger, Kudu, and other operations. The HG Global/BAM segment specializes in insuring municipal bonds that fund public projects such as schools, utilities, and transportation facilities, alongside offering reinsurance protection services.
As investment interest continues to grow, stakeholders will be keen to monitor the developments surrounding White Mountains Insurance Group and its performance in the coming quarters.
