Insurance Stocks Moving In Friday's Intraday Session
Portfolio Pulse from Benzinga Insights
In Friday's intraday session, insurance stocks saw notable movements. Gainers included Ambac Financial Group (AMBC), Investors Title (ITIC), Assured Guaranty (AGO), SelectQuote (SLQT), Abacus Life (ABL), and Kingsway Financial Servs (KFS), with increases ranging from 3.03% to 10.6%. Losers were Waterdrop (WDH), Marpai (MRAI), Maiden Hldgs (MHLD), Reliance Global Group (RELI), Maiden Holdings, Ltd. 6.625% Notes due 2046 (MHLA), and Crawford (CRD), with declines between 2.55% and 4.84%. The movements were based on trading volumes and market cap changes, with specific mention of Waterdrop's Q3 earnings release.
December 08, 2023 | 5:40 pm
News sentiment analysis
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POSITIVE IMPACT
Abacus Life's stock rose 3.3% to $7.33 with a minimal volume of 479 shares, and the company's market cap is $430.7 million.
The rise in ABL's stock price, even on low volume, could suggest underlying strength, possibly affecting its short-term price positively.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Assured Guaranty's stock moved up by 3.86% to $70.9 with a trading volume of 323.9K, and its market value is at $3.9 billion.
AGO's upward movement with a substantial market cap suggests a positive short-term outlook for the stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Ambac Financial Group's shares rose 10.6% to $16.58 with a trading volume of 560.5K, maintaining its average volume but significantly increasing its market cap to $722.6 million.
The significant rise in AMBC's stock price suggests positive investor sentiment, which could lead to a short-term upward trend in its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Investors Title's shares increased by 6.16% to $152.5 with a low trading volume of 277 shares, but the stock's market value rose to $288.3 million.
The increase in ITIC's share price, despite low volume, indicates a potentially strong position that could lead to further short-term gains.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Kingsway Financial Servs's stock increased by 3.03% to $8.16, with a volume of 22.5K shares and a market cap of $224.0 million.
KFS's stock price gain could attract investor interest, potentially leading to a positive short-term price movement.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
SelectQuote's shares increased by 3.51% to $1.32, with a trading volume of 189.8K and a market cap of $216.3 million.
SLQT's share price increase could indicate a positive investor sentiment, potentially leading to further short-term gains.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Crawford's shares decreased by 2.55% to $11.1 with a trading volume of 14.8K shares, and the company's market cap is at $542.6 million.
CRD's stock price drop could be a sign of investor caution, possibly leading to further short-term negative movement.
CONFIDENCE 70
IMPORTANCE 55
RELEVANCE 65
NEGATIVE IMPACT
Maiden Holdings, Ltd. 6.625% Notes due 2046's shares decreased by 2.77% to $16.9 with a low volume of 3.1K shares.
The decline in MHLA's price could indicate a negative perception of the notes' value, potentially affecting short-term price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Maiden Hldgs's shares fell 3.37% to $2.15 with a trading volume of 41.3K shares, and the company's market cap is at $225.0 million.
The drop in MHLD's stock price could reflect investor concerns, possibly leading to further short-term declines.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Marpai's shares declined by 4.77% to $2.0 with a trading volume of 52.0K shares, and the company's market cap is at $15.9 million.
MRAI's stock price decline could indicate negative market sentiment, potentially leading to further short-term downside.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Reliance Global Group's stock decreased by 2.91% to $0.73, with a trading volume of 188.6K shares and a market cap of $1.6 million.
RELI's stock price decrease, alongside its very small market cap, could suggest high volatility and a negative short-term outlook.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Waterdrop's stock fell 4.84% to $1.15 following its Q3 earnings release, with a trading volume of 120.3K shares and a market cap of $461.8 million.
The negative reaction to Waterdrop's Q3 earnings suggests a bearish short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90