“Tower Group International, Ltd.” (NASDAQ:TWGP) CEO Michael Lee sold 1,233,460 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $10.22, for a total value of $12,605,961.20. Following the transaction, the chief executive officer now directly owns 2,297,926 shares in the company, valued at approximately $23,484,804. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on TWGP shares. Analysts at Sidoti downgraded shares of “Tower Group International, Ltd.” (NASDAQ:TWGP) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, September 18th. Separately, analysts at FBR Capital Markets reiterated a “marketperform” rating on shares of “Tower Group International, Ltd.” (NASDAQ:TWGP) in a research note to investors on Wednesday, September 18th. They now have a $22.00 price target on the stock, up previously from $17.00. Finally, analysts at FBR & Co. downgraded shares of “Tower Group International, Ltd.” (NASDAQ:TWGP) from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, September 18th.
Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. “Tower Group International, Ltd.” presently has a consensus rating of “Hold” and an average target price of $20.83.
“Tower Group International, Ltd.” (NASDAQ:TWGP) opened at 9.14 on Monday. “Tower Group International, Ltd.” has a 1-year low of $8.98 and a 1-year high of $22.30. The stock has a 50-day moving average of $15.22 and a 200-day moving average of $18.36. The company has a market cap of $524.9 million and a P/E ratio of 6.66.
Tower Group, Inc (NASDAQ:TWGP), through its subsidiaries, offers a range of commercial, personal and specialty property and casualty insurance products and services to businesses in various industries and to individuals.