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ONEX Corporation ( (TSE:ONEX) ) just unveiled an announcement.
Onex Corporation, through its Onex Partners Opportunities Fund, has agreed to acquire Integrated Specialty Coverages (ISC), a tech-enabled insurance platform, from KKR. ISC, based in Carlsbad, California, specializes in underwriting and distributing insurance solutions using proprietary data analytics and sophisticated technology. This acquisition aligns with Onex’s focus on the insurance sector and enhances its position in the property and casualty insurance value chain. The transaction, supported by several institutional equity partners, is expected to close later this year and aims to bolster ISC’s innovation and growth opportunities in the insurance market.
The most recent analyst rating on (TSE:ONEX) stock is a Buy with a C$132.00 price target. To see the full list of analyst forecasts on ONEX Corporation stock, see the TSE:ONEX Stock Forecast page.
Spark’s Take on TSE:ONEX Stock
According to Spark, TipRanks’ AI Analyst, TSE:ONEX is a Outperform.
ONEX Corporation’s overall stock score is driven by strong financial performance and positive earnings call sentiment. Technical analysis supports a positive trend, though potential overbought conditions are noted. Valuation suggests the stock may be undervalued, but the dividend yield is modest.
To see Spark’s full report on TSE:ONEX stock, click here.
More about ONEX Corporation
Onex Corporation is a global investment firm that manages capital on behalf of its shareholders and clients, with approximately $55.9 billion in assets under management. The company invests across various sectors, including property and casualty insurance, and is known for its long track record of creating value for clients and shareholders. Onex is listed on the Toronto Stock Exchange and has offices in Toronto, New York, New Jersey, and London.
Average Trading Volume: 74,535
Technical Sentiment Signal: Buy
Current Market Cap: C$8.39B
See more insights into ONEX stock on TipRanks’ Stock Analysis page.